Northwest adds Cambrian Centre to Calgary MOB

RENX  Commercial  •  Office  •  Calgary

NorthWest Healthcare Properties REIT (NWH-UN-T) continues to expand its portfolio in Calgary with the acquisition of three buildings in a popular health node in the northwest part of the city. The transaction, valued at $51 million, includes the 120,000-square-foot Cambrian Centre.

Tridel, Amsted back on top at 2019 OHBA awards

RENX  Residential  •  Homes  •  Ontario

Repeat winners Tridel Corporation and Amsted Design-Build took top awards at the 2019 Ontario Home Builders’ Association Awards of Distinction. The winners were announced this week at the OHBA’s annual conference, which was held in Collingwood.

Top Canadian WeWork executives resign

Commercial  •  Globe and Mail (Sub. required)

WeWork’s top two Canadian executives – Wayne Jacobs and Chris Bonneville – have left the company, adding uncertainty to its expansion plans amid the upheaval surrounding its failed initial public offering and the demotion of its co-founder.

Toronto’s rental crisis likely to get worse: RBC

Residential  •  Globe and Mail (Sub. required)

The Toronto region is facing the largest apartment rental shortage of any major city in Canada as inadequate new construction and soaring population growth are expected to worsen an existing shortfall and push rents even higher, according to RBC.

Canadian firms among infrastructure heavyweights

Commercial  •  IPE Real Assets  •  IPE Real Assets  •  Globe and Mail

Canadian firms CPPIB, Caisse de dépôt et placement du Québec, OMERS, Ontario Teachers’ Pension Plan and PSP Investments – held down five of the top-10 positions in The IPE Real Assets top 100 ranking of some of the world’s largest infrastructure investors.

Sponsored by REIC/ICI Gain property management skills in the comfort of your home

Today’s property managers are expected to know more and do more, wearing many hats in a rapidly evolving industry. You can expect to shift between roles that require a diverse set of skills from customer service to marketing . . .

Holloway shareholders approve acquisition by Clarke

Commercial  •  Canada Newswire  •  RENX

Holloway Lodging Corporation (HLC-T) and Clarke Inc. (CKI-T) Wednesday announced shareholders approved the previously announced statutory plan of arrangement pursuant to which Clarke will acquire all of the issued and outstanding common shares of Holloway it does not already own.

Summit Industrial included in TSX30

Commercial  •  Canada Newswire  •  RENX

Summit Industrial Income REIT (SMU-UN-T) announced today it has been included in the TSX30, a new flagship program ranking the 30 top-performing issuers on the TSX over the three year period from June 2016 to July 2019 based on dividend-adjusted price appreciation.

MANULIFT opens $10M centre in Stoney Creek

Commercial  •  Canada Newswire

MANULIFT, Canada’s leader in heavy telescopic equipment with its distinctive green colour, announced the opening of a $10-million, 30,000-square-foot operations centre in the Greater Toronto Area, strategically situated on the QEW in Stoney Creek.

Details of Halifax’s CFL stadium proposal unveiled

Commercial  •  HalifaxToday

Halifax Regional Municipality CAO Jacques Dube on Thursday unveiled more details about Schooner Sports and Entertainment‘s (SSE) potential CFL stadium. The total cost estimate for Phase One is just shy of $94 million, plus land acquisition at less than $10 million.

Two groups vying for Ottawa stadium lease

Commercial  •  CBC  •  Ottawa Business Journal  •  CBC

The Ottawa Sports and Entertainment Group (OSEG) and partner Regan Katz, on behalf of the Winnipeg Goldeyes, have approached the City of Ottawa about leasing its baseball stadium now that the struggling Champions are in default, councillors learned Wednesday.

Ottawa’s Lansdowne plaza to be car-free, sponsored

Commercial  •  Ottawa Citizen  •  CBC  •  Ottawa Business Journal

A central part of Lansdowne will feature a new name – Casino Lac-Leamy Plaza at Lansdowne – and fewer cars. The new space will be new partnership between Ottawa Sports and Entertainment Group, the City of Ottawa and the Quebec casino operators.

10 largest construction project starts in Canada

Residential, Commercial  •  Daily Commercial News

The accompanying table records the 10 largest construction project starts in Canada in August 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.

Church conversions pave the path for renewal

Commercial  •  Globe and Mail

Historically, communities have been built around churches. Now, the latest trend is flipping this formula and turning these historical buildings into neighbourhood hubs. Over the past few decades, church conversions have taken place in most major cities across North America.

Edmonton, Bauhaus celebrates functionalist architecture

Commercial  •  Edmonton Journal

Edmonton has a well-deserved reputation for letting its classical architecture landslide into rubble, often accompanied by some hopeful profiteer pushing it off a cliff when no one’s looking too closely.

The anatomy of a modern tech office

Commercial  •  Vancouver Sun

At LoginRadius’s Canadian headquarters, there’s a tiki bar with a row of booze bottles in a social room; floor-to-ceiling windows with views of Canada Place, Vancouver’s harbour and points east, south and west; and Leo, a 15-week-old Cane Corso-Bullmastiff.

Dream Industrial REIT yielding five per cent

Commercial  •  Motley Fool  •  RENX

One high-quality REIT that has demonstrated it can consistently deliver value is Dream Industrial REIT (DIR-UN-T). Its regular distribution is yielding just over five per cent, which is more than triple the yield on many government bonds.

Lendlease launches REIT on Singapore exchange

Commercial  •  Reuters

Australian property firm Lendlease launched a real estate investment trust on the Singapore stock exchange as part of an offering which aims to raise gross proceeds of $748 million US.

Closer U.S. scrutiny of foreign CRE investments in works

Commercial  •  Bisnow

The U.S. Treasury Department has proposed new regulations to tighten government scrutiny on foreign investments in the United States, including a wide range of real estate deals. The rules will take effect early next year.

Co-working, malls pose threat to Aussie office market

Commercial  •  Commercial Real Estate News

The largest office supply pipeline in more than 20 years, the rise of co-working and the changing configuration of our shopping centres pose a risk to the high-performing office markets of Sydney and Melbourne, a recent analyst note warns.