RioCan announces QA Condos partnership, Q1 2021 results

RENX  Residential, Commercial  •  Retail, Apartments  •  National, Toronto / GTA

Jonathan Gitlin has hit the ground running during his first few weeks as the president and CEO of RioCan REIT. The trust recently announced a major new Toronto development and partnership, and this week released its Q1 2021 earnings report.

Four-building Oshawa apartment portfolio acquired by CAPREIT

RENX  Residential  •  Apartments  •  Toronto / GTA

UPDATED WITH INTERVIEW: CAPREIT has expanded its rental apartment portfolio in the Greater Toronto Area with the acquisition of a four-building portfolio in Oshawa for $103.7 million, the trust announced Wednesday evening.

Amazon fuels N.A.’s worst warehouse shortage in T.O.

Commercial  •  Financial Post  •  Ottawa Citizen

With the pandemic driving a belated embrace of online shopping in Canada, Amazon.com Inc. has been gobbling up warehouses. That’s dropped the GTA vacancy rate to 0.5 per cent, making it the tightest market in North America, if not the world.

Toronto became a healthtech hotbed in 2020

Commercial  •  betakit

According to Hockeystick’s fourth-quarter GTA Tech Report, the GTA tech ecosystem had 186 investments totalling $1.2 billion over 2020. Healthtech led in overall investment with $186 million in funding, followed by biotech with $134 million in funding.

Greybrook Securities CEO remains bullish on Toronto

Residential, Commercial  •  Toronto Life  •  RENX

Sasha Cucuz, CEO of Greybrook Securities Inc., discusses how developers can contribute to Toronto’s cultural fabric and Greybrook Realty Partners’ recent partnership with Delos Canada, aimed at making the buildings we occupy healthier.

Will downtown Van. office boom fuel residential demand?

Residential, Commercial  •  urbanYVR

VIDEO: CBRE commercial agent Andre Alie Day says for downtown Vancouver’s current office tower boom to affect real estate prices in a significant way, the influx of new demand to live in the downtown core would need to be significant.

The Title Page › Spotlight on spring real estate markets: Residential vs. commercial

Lori Sartor and Eric Haslett: Lori Sartor and Eric Haslett

CF Fairview Pointe Claire’s transformation complete

Commercial  •  Canada Newswire  •  Montreal Gazette

Cadillac Fairview announced the completion of its latest revitalization at CF Fairview Pointe Claire, which features enhancement of the centre’s common areas, exterior facades, and transformation of the centre’s food court – newly named the District Gourmand.

Gov’t renews lease for 100K sq. ft. with Slate Office

Commercial  •  Business Wire  •  RENX

Slate Office REIT (SOT-UN-T), an owner and operator of North American office real estate, announced today the completion of a 10-year lease renewal with a government tenant for over 100,000 square feet in Atlantic Canada.

More hotel deal activity projected beyond Q2

Commercial  •  REMI Network

Canadian hotel occupancy nudged slightly above 27 per cent in Q1. Colliers Hotels pegs the average daily rate at $113.42 per occupied room. However, industry analysts project better times will spur more hotel deal activity in the coming months.

REIT first-quarter financial results

Residential, Commercial  • 

Crombie REIT, (CRR-UN-T), Canada Newswire
Granite REIT, (GRT-UN-T), Business Wire
Killam Apartment REIT, (KMP-UN-T), Canada Newswire
True North Commercial REIT, (TNT-UN-T), Canada Newswire

REOC first-quarter financial results

Residential, Commercial  • 

Brookfield Infrastructure, (BIP-UN-T), Globe Newswire
Fiera Capital Corp., (FSZ-T), Canada Newswire
Genesis Land Development Corp. (GDC-T), Canada Newswire
StorageVault Canada Inc., (SVI-X), Globe Newswire

Sam Zell acquires Monmouth Real Estate for $3.4B

Commercial  •  The Real Deal  •  REBUSINESSonline  •  Bisnow

As the industrial sector booms, Sam Zell’s Equity Commonwealth is expanding into the field. Equity, which focuses on office real estate, is acquiring Monmouth Real Estate Investment in a $3.4-billion, all-stock deal. N.J.-based Monmouth owns 120 properties totalling 24.5 million square feet.

CPP raises stake in IndInfravit Trust by $173 million

Commercial  •  Canada Newswire

CPP Investments announced the acquisition of an additional 15.9 per cent of the total units in IndInfravit Trust through two separate transactions for $173 million. IndInfravit holds a portfolio of 13 operational road concessions across five high-growth and economically diverse states.

H.K.’s aging office towers likely to lose $1.3B in value

Commercial  •  South China Morning Post

At least 100 20-year-old-plus office buildings in Hong Kong need to be refurbished to unlock their rental potential, according to JLL. They could lose rental value worth over US$1.3 billion without enhancements, it added.

U.S. self-storage REITs perform well in Q1

Commercial  •  Inside Self-Storage

In general, the five largest publicly traded, U.S.-based self-storage REITs — CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc. —  indicated Q1 gains in funds from operations (FFO), net operating income (NOI) and occupancy.

Home prices could climb 14% in 2021: CMHC

Residential  •  Globe and Mail (Sub. required)  •  Canada Newswire  •  Canada Newswire

Home prices could rise as much as 14 per cent during the second year of the pandemic as low interest rates continue to stoke demand across the country, according to the CMHC’s Housing Market Outlook..

Home sales will fall 20 per cent next year: BCREA

Residential  •  Western Investor  •  Vancouver Sun  •  BC Business

British Columbia housing sales will see another “record-smashing” performance this year before sales plunge more than 20 per cent in 2022 as price increases fall to single-digit levels, according to the British Columbia Real Estate Association (BCREA).

ONE Development introduces crowdfunding to T.O. market

Residential  •  Globe Newswire

ONE Development Corporation, a property acquisition and redevelopment company, is changing the way everyday people can access and invest in the Toronto real estate market. ONE’s solution is to invest in their company from $500 via equity crowdfunding.

How to douse Canada’s housing mania: OPINION

Residential  •  Globe and Mail  •  Financial Post  •  Globe and Mail (Sub. required)

With the latest surge in housing prices, it is becoming clear there needs to be additional policy measures that can be relied upon when things get too hot. Right now, OSFI’s stress test is the only one on offer – and it needs to become more stringent.