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Morguard acquires 20% interest in Vancouver's Telus Garden tower
Morguard acquires 20% stake in Van.'s Telus Garden tower
Morguard Corporation (MRC-T) has acquired a 20 per cent interest in the Telus Garden office building at 510 West Georgia and 541 Robson St. in Vancouver, adding to its assets in British Columbia.
UPDATED - Grosvenor forges JV to advance Brentwood Block
Updated with comments from Grosvenor chief co-investment officer Jamie Delmotte - Grosvenor will be pursuing Phase 1 development of its Vancouver project Brentwood Block in a joint venture with an unnamed Canadian pension fund and B.C.-based investment firm Westerkirk Capital.
Loblaw plans 60 more smaller No Frills: CEO
Discount stores make up 16 per cent of Canadian grocery outlets, compared to five per cent in the U.S. and over 30 per cent in European countries. New Loblaw CEO Per Bank hopes to add 60 No Frills stores.
IKEA Canada reaches $2.87 billion in annual sales
IKEA Canada has announced financial results for a year the company said focused on "affordability and continued investment in future operations." To close the fiscal year ending August 31, 2024, the giant home furnishing retailer reported $2.87B in sales.
Major changes made to proposal for DT Vancouver towers
A major revision have been made to the design, size and uses of the proposed redevelopment of the land assembly in downtown Vancouver. Bosa Properties and Kingswood Properties have pivoted their proposal for 41- and 44-storey towers on Alberni Street.
Mixed-use towers plan for former Vancouver McDonald's site
Nearly a year after McDonald’s sold its iconic location at the eastern end of False Creek, a rezoning application from South Carolina-based Greystar Real Estate Partners proposes to build a pair of towers, reaching 18 storeys and 22 storeys respectively.
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Long-vacant Hamilton site set for 18-storey mixed-use project
A former gas station site in Hamilton is once again primed for development. Toronto-based Core Development Group received adjustment committee approval for an 18-storey building with 272 residential units and 3,485 square feet of commercial space on Main Street.
The U.K. is courting Canada's big pensions too
U.K. officials have been making the rounds in Canada, talking to executives at the Maple Eight, a group of major pension investment organizations that includes the Canada Pension Plan Investment Board, the Ontario Teachers’ Pension Plan and the CDPQ.
Cologix moves closer to carbon neutrality in Canada
Data centre builder and operator Cologix has nearly achieved carbon neutrality in Canada, as it aspires to hit the target across its entire business. The Denver, Colo.-based company has 22 data centres in Canada.
Romspen head office searched by Quebec’s tax agency
The Toronto office of Romspen Investment Corp. has been searched by Quebec’s tax agency during an investigation into one of the private mortgage lender’s borrowers. On Tuesday morning, Revenu Québec entered Romspen’s office in Toronto’s Yorkville neighbourhood, sending employees home.
Development fees vary hugely across Metro Vancouver
In the Township of Langley, developers must soon pay city hall $58,592 for each townhome they build. Across the Fraser River in Pitt Meadows, developers only pay a third of that for a similar townhouse.
Pembina Hwy. hotel closing to make room for housing
After decades of touting cold beer and VLTs, a Pembina Highway hotel will shutter, making room for more housing. The Cambridge Hotel is slated for demolition in preparation of a mixed-use complex, to be developed by Pre-Con Builders.
Are vacant shops and pedestrianization linked?
More premises were occupied than last year in the main commercial arteries of Quebec, according to a recent study. Does the pedestrianization of the streets have something to do with it?
Real estate podcasts
Sasha Cucuz, Greybrook: Are We Going to Have a Soft Landing? Canadian Real Estate Investor
Richard Lyall, RESCON: Reforming Canada’s Rental Housing Market, CRE Podcast
Bryan Yu, Central 1 Credit Union: Taking the Pulse of the Vancouver Economy, VREP
Ares to nearly double RE portfolio with $3.7B-plus takeover
Ares Management Corp. has announced a US$3.7B acquisition plan for Singapore-based GCP International that positions the investment firm to become what it says would be the world's third-largest industrial landlord.
Spanish investor launches $3B partnership to build U.S. homes
Madrid-based investment firm Azora is teaming up with a Florida multifamily firm to launch a US$3B partnership aimed at addressing the U.S. housing shortage. Azora and Miami-based Advenir plan to invest in both the development and acquisition of housing.
Brookfield makes $729M Tritax bid, topping Segro
Brookfield Asset Management edged ahead of Segro Plc in the battle to buy warehouse landlord Tritax EuroBox Plc with a recommended cash offer that values the company at US$729 million.
Lower interest rates may fuel demand for housing, timber
Timberland REITs, which specialize in owning timberlands, and through their taxable subsidiaries, harvesting and selling timber for lumber products, had a strong third quarter in 2024. The lumber business is strongly tied to the housing market.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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