Transformation of Sutton Place into The Britt nearly complete

RENX  Residential  •  Condominiums  •  Toronto / GTA

Occupancy has begun at The Britt, a Lanterra Developments condominium project resulting from the redevelopment of Toronto’s Sutton Place hotel. Built in 1967, Sutton Place hosted top celebrities for decades before being surpassed in grandeur and reputation by other hotels.

Brookfield, Fortress bidding on Anbang hotels: Sources

Commercial  •  Bloomberg

Brookfield Asset Management (BAM-A-T) and Fortress Investment Group are among the bidders for a portfolio of 15 hotels owned by Anbang Insurance Group Co., according to sources.  Blackstone Group LP and South Korea’s Mirae Asset Management are also among the bidders.

Big players muscle out mom-and-pop storage firms

Commercial  •  Western Investor  •  RENX

Development boom on display at Montreal of the Future

RENX  Residential, Commercial  •  Condominiums, Hotels and Resorts, Office, Apartments, Retail  •  Greater Montreal

Robert Vezina says downtown Montreal used to be dotted with no man’s lands – parking lots and underdeveloped sites which scarred its core. “All that is really changing in a really positive way,” says the creator of Montreal of the Future.

CORE Business Park reflects optimism in Calgary industrial

Commercial  •  Calgary Herald  •  RENX

Optimism remains strong in Calgary’s industrial market according to Sean Ferguson, associate vice-president of industrial sales and leasing at Cushman & Wakefield. He cites the significant progress he and his team have realized at CORE Business Park as a good indicator.

Vancouver industrial project would save heritage buildings

Residential, Commercial  •  Vancouver Courier  •  Financial Post

Goverments investing $1.47B in Vancouver transit system

Commercial  •  Canada Newswire

Today, Harjit Singh Sajjan, Minister of National Defence, on behalf of François-Philippe Champagne, Minister of Infrastructure and Communities, and Claire Trevena, B.C. Minister of Transportation and Infrastructure provided details on the $1.47-billion investment in the Expo Millennium upgrade program.

The Saskatchewan Edge › Sage commercial real estate advice for entrepreneurs

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

April’s largest construction project starts

Residential, Commercial  •  Construction Canada

The accompanying table records the 10 largest construction project starts in Canada in April 2019. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.

Private False Creek surgery facility on the block

Commercial  •  Vancouver Sun

One of B.C.’s biggest private surgery facilities, Vancouver’s False Creek Healthcare Centre, is for sale. False Creek was opened in 1998 by Dr. Mark Godley. In 2011, Godley sold the Vancouver centre and a sister facility to Centric Health for $24 million.

Prince Rupert to add second container terminal

Commercial  •  Business In Vancouver

A second Port of Prince Rupert container terminal will quadruple the northern port’s container-handling capacity and position it as Canada’s second-largest port, the Prince Rupert Port Authority said.

Golf courses hit revenue fairways and rough patches

Commercial  •  Business In Vancouver

B.C.’s busiest public golf courses have experienced ups and downs over the past five years. The average number of rounds played at the province’s top 10 golf courses grew 9.1% since 2014. However, the growth masks the industry’s volatility throughout the five-year period.

Alphabet to open T.O. smart city buildings as early as 2023

Residential, Commercial  •  CNBC  •  Toronto Star  •  Globe and Mail

The first buildings in Alphabet’s first smart city project could open as soon as 2023, Sidewalk Labs founder and CEO Dan Doctoroff lead said Wednesday at the Collision Conference in Toronto.

Brookfield spin-offs reward investors handsomely

Commercial  •  Globe and Mail (Subscription required)

Most of the spin-offs from Brookfield Asset Management – Brookfield Infrastructure Partners (BIP-UN-T), Brookfield Renewable Partners (BEP-N), Brookfield Property Partners (TSX: BPY.UN) and Brookfield Business Partners (BBU-UN-T) – are expected to continue to provide handsome returns.

Goldman Sachs to buy European budget hotel chain

Commercial  •  CP Executive

Paris-based private equity firm PAI Partners is ready to sell B&B Hotels to Goldman Sachs. The Financial Times is estimating the deal for the 486 properties and nearly 43,000 guestrooms could be worth $2.1 billion US.

U.S. retail investors pull back amid mall woes

Commercial  •  CP Executive  •  IPE Real Assets

Retail investment volume in the U.S. dropped 4.9 per cent year-over-year in the most recent quarter, with investors pulling back and getting more selective in the hunt for assets amid news of thousands of store closures.

Seniors most likely to be delinquent on mortgages

Residential  •  Toronto Star  •  CBC

Financial freedom at 55 appears to be a vanishing dream as Canadians carry bigger debt loads later in life and seniors continue to be the group most likely to be delinquent on their mortgages, according to a report by CMHC.

One in five proposed Vancouver housing units shelved

Residential  •  Western Investor  •  CBC  •  Globe and Mail

With new home sales dropping in tandem with resale residential units, Vancouver developers have been rapidly shelving projects, according to a new report by Altus Group.

Two-tower project heads to Vancouver board

Residential  •  Vancouver Courier

The plan to build 43- and 48-storey Alberni Street residential towers connected by a six-storey podium goes before Vancouver’s development permit board May 27. Landa Global Properties and Asia Standard Americas are behind the Musson Cattell Mackey Partnership-designed project.

U.S. opens anti-trust probe of brokerage industry

Residential  •  Bloomberg

U.S. anti-trust officials are investigating potentially anti-competitive practices in the residential real estate brokerage business, with a focus on compensation to brokers and restrictions on their access to listings.