Oxford selling stakes in four hotels for $1B

Commercial  •  Bloomberg  •  Globe and Mail (Sub. required)  •  RENX

Oxford Properties Group is planning to sell half of its ownership in the Fairmont Banff Springs, Fairmont Chateau Lake Louise, Fairmont Chateau Whistler and Fairmont Jasper Park Lodge. Oxford is seeking more than $1 billion for a 50 per cent stake.

Allied buys properties in Calgary, Vancouver, Toronto

RENX  Commercial  •  Industrial  •  Metro Vancouver, Calgary, Toronto / GTA

Allied Properties REIT (AP.UN-T) is acquiring properties in Toronto, Calgary and Vancouver for $94 million. The properties are: 50 per cent interest in the Sherwin Block at 738 11th Avenue SW, in Calgary; 2233 Columbia and 1050 Homer in Vancouver; ancillary Toronto residential properties.

Shoe factory reborn as Batawa Lofts in tiny Ontario town

RENX  Residential  •  Apartments  •  Ontario

The former Eastern Ontario company town of Batawa has long presented a fascinating story, but development is introducing new vitality. The town emerged along the Trent River when Thomas Bata built a shoe factory and housing in the 1940s.

Montreal investment property sales rose 18% in 2018

Commercial  •  Altus Group media release

Investment property sales (based on sales valued at $1M or more) across Canada decreased from $56.9B to $54.3B year-over-year in 2018. The decrease was the result of declines in Toronto and Vancouver; Montreal investment volume increased by 18% to $6.5B.

RioCan proposes mixed-use complex for Toronto

Residential, Commercial  •  Urban Toronto  •  RENX

A new mixed-use plan has been tabled to replace Toronto’s RioCan Hall and the Scotiabank Theatre. RioCan REIT (REI-UN-T) looks to redevelop the site with a complex containing two residential towers, two levels of retail, seven levels of office space.

Onni proposes three-building project for East Hastings

Residential, Commercial  •  Vancouver Courier

A stretch of buildings along East Hastings could come down to make way for a three-building development. Onni Group’s rezoning application for the project proposes two 11-storey market condo buildings, one eight-storey social housing building and ground-level commercial space.

The Saskatchewan Edge › Long-term stability the story in Saskatoon, Regina retail

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Investor’s guide to Western Canada CRE 2019

Residential, Commercial  •  Western Investor

This year will present some challenges to Western investors, especially after the record-breaking performance experienced in the previous two years. However, unlike previous downturns, we expect the 2019 moderation to be short and shallow.

Walmart invests over $200 million in store updates

Commercial  •  Canada Newswire  •  Building Design & Construction

Walmart Canada announced today plans to invest over $200 million in its store network, with a focus on refurbishing and refreshing 31 stores across the country over the next year. Approximately 3,250 construction jobs will be created to support these upgrades.

Montreal investing $1.7B to improve métro system

Commercial  •  Montreal Gazette  •  La Presse

The City of Montreal will be investing $1.7 billion to upgrade the métro system and make it more accessible. The city said roughly $1.3 billion will go toward “modernizing and upgrading” fixed infrastructure and equipment and improving reliability.

Montreal industrial sector on fire

Commercial  •  La Presse  •  RENX

In March, Mississauga developer Tribal Partners paid Cominar REIT (CUF-UN-T) $26 million for a building considered empty, but strategically located adjacent to the Metropolitan Highway at Pointe-Claire. The transaction represented a price of $29.23 per square foot.

Greybrook invests in Kitchener residential project

Residential  •  Globe Newswire

Greybrook Realty Partners announced the closing of an equity investment of $8,845,000 to acquire and oversee the development of a prime parcel of land in Kitchener, Ont. The firm intends to develop the land into a low-rise residential community of 250 homes.

Cominar, Storefront partner on pop-up stores

Commercial  •  Canada Newswire  •  RENX  •  RENX

Cominar REIT (CUF-UN-T) has partnered with Storefront, the world’s largest marketplace of short-term retail spaces, to promote its pop-up stores in five Quebec shopping centres: Rockland, Montréal; Gare Centrale, Montréal; Alexis Nihon, Montréal; Centropolis, Laval; Mail Champlain, Brossard.

Time to buy Choice Properties REIT

Commercial  •  Globe and Mail (Sub. required)  •  Globe and Mail  •  RENX

Through April 29, Choice Properties REIT (CHP.UN-T) posted a year-to-date total return of 21.2 per cent, easily topping the 17 per cent total return of the S&P/TSX Composite Index. While such scorching gains won’t continue, Choice remains an attractive pick for long-term investors.

REIT first-quarter financial results:

Commercial  • 

Allied Properties REIT, (AP-UN-T), Globe Newswire

Killam Apartment REIT, (KMP-UN-T), Globe Newswire

Morguard REIT, (MRT-UN-T), Canada Newswire

Slate Retail REIT, (SRT-U-T), Business Wire

REOC financial results

Commercial  • 

Brookfield Business Partners, (BBU-UN-T), Globe Newswire

First Capital Realty Inc., (FCR-T), Sedar

Lakeview Hotel Investment Corp., (LHR-X), Canada Newswire

How Airbnb invaded Montreal’s hottest neighbourhoods

Residential  •  CBC  •  CBC

Despite a provincial law intended to limit and control online short-term housing rentals, Airbnb is thriving in Quebec. Of the 10 neighbourhoods with the highest concentration of Airbnb listings in Canada, five are in Montreal.

How Ontario can ramp up affordable housing development

Residential  •  Newinhomes.com  •  Windsor Star  •  Globe Newswire

I’ve already written about Toronto’s challenge of building more affordable housing numerous times this year. Now it’s come to my attention that the provincial government could be doing more to speed up the development of affordable housing.

GTA new condo sales hit six-year low

Residential  •  Toronto Star  •  Globe and Mail (Subscription required)

The GTA’s hot condo market is seeing a moderation in prices, with pre-construction sales volumes hitting a six-year low in Q1 2019, even though cranes from a record number of buildings continue to dot the skyline.

Floridian-inspired development comes to Port Stanley

Residential  •  Canada Newswire

Wastell Homes, a London, Ont.,-based, award-winning lifestyle builder is unveiling Kokomo Beach Club — a resort-style community with 500 homes: 150 single-detached homes, and four low-rise condominium buildings with 350 units. The condos range from 800 to 1,300 square feet.