CRE execs expect office downsizing: Altus Group

RENX  Commercial  •  Office, Retail  •  National

The bad news is that in its Key Assumptions Survey Update, a majority of CRE executives canvassed by Altus Group are concerned an office space downsizing of 10 to 20 per cent could result from the pandemic. There is, however, good news.

REITs take long view of Vancouver’s rental market

Residential, Commercial  •  Vancouver Sun

The COVID pandemic has lowered demand for rental properties and thus what landlords are charging, but investors such as REITS looking to buy apartment buildings believe this is temporary, says Lance Coulson, an executive vice-president at CBRE.

SmartCentres proposes 64-, 21-, 7-storey buildings

Residential, Commercial  •  Urban Toronto  •  RENX  •  Globe Newswire

The latest proposal by SmartCentres REIT (SRU-UN-T) for its 100-acre city centre development in the Vaughan Metropolitan Centre includes a 64-storey residential tower, a 21-storey class-A office tower and a seven-storey hotel at 175 Millway Ave.

Proptech in Canada report first ‘comprehensive’ study

RENX  Commercial  •  Technology  •  National

Canada is becoming a global hub for real estate technology and innovation, and Proptech Collective has just released a report that offers insights into key trends, startups, investors and accelerators​​ within the space.

Concord Adex unveils Gloucester on Yonge

Residential  •  Canada Newswire

Concord Adex, Canada’s largest urban community builder, will bring the Gloucester on Yonge to the market this winter. The luxury condo development will be the first tower in the country to benefit from Concord’s BioSpace virus and bacteria mitigation systems.

Genesis acquires 157-acre Calgary site for $29.15M

Residential  •  Canada Newswire  •  RENX

Genesis Land Development Corp. (GDC-T) has entered into a binding agreement to acquire approximately 157 acres in Calgary’s Belvedere community for $29.15 million. The lands are expected to yield over 1,200 housing units including single-family, townhouse and multifamily apartment units.

Sponsored by First National Financial LP What to expect from First National this year

At First National, the year has started very quickly. After recording tremendous 2020 growth, highlighted by record total volume and record construction volume – including half a dozen financings of over $100 million – our sights are set on doing, even more, this year.

The land at the centre of Ottawa’s reconciliation dispute

Residential, Commercial  •  CBC  •  CBC  •  CBC

When a pair of city committees suddenly voted last week that fields and forest on the outskirts should become Ottawa’s next major suburb, those hundreds of hectares were thrust into the limelight in a way not seen since the 1970s.

Business fall through cracks of rent aid program: CFIB

Commercial  •  Toronto Star  •  La Presse

The Canadian Federation of Independent Business said only one-quarter of its members have used Ottawa’s revamped rent subsidy program, compared to two-thirds that have used a popular loan program that can be used for costs like rent.

Cineplex amends creditor agreement again

Commercial  •  Globe and Mail (Sub. required)

Cineplex Inc. (CGX-DB-B-T) says it has once again amended its credit agreement with lenders. The country’s largest theatre chain says the third amendment allows for the suspension of financial covenant testing to continue until the fourth quarter under certain conditions.

REIT fourth-quarter financial results

Commercial  • 

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

Podcasts from the real estate world

Residential, Commercial  • 

Jaime McKenna, Fengate: Why sensors & data are worthy of technology investment, Tenant Experience Network. Season 2, Episode 2
Tom Dicker, Dynamic Funds: REITs in the investment world, CRE Library: Episode 48
Caleb Parker, Bold: Putting customers first when it comes to CRE, Tenant Experience Network. Season 2, Episode 1

Van. condo developer sentenced to six years in U.S. prison

Residential  •  Vancouver Sun

Vancouver condo developer Mark John Chandler is “a financial predator,” a U.S. Federal Court judge said Monday while handing down a six-year sentence for real estate investment fraud. Chandler swindled 12 U.S. investors out of $1.7 million more than a decade ago.

How Knotel went from a $1.6B valuation to bankruptcy

Commercial  •  TechCrunch

Last week, flexible workspace operator Knotel announced it had filed for bankruptcy and that its assets were being acquired by investor and commercial real estate brokerage Newmark for a reported $70 million. In March 2020, Knotel was reportedly valued at $1.6 billion.

Brookfield Properties plans California industrial project

Commercial  •  CP Executive

Brookfield Properties is expanding its Southern California footprint with the acquisition of a 15-acre development site in the Inland Empire West submarket. The site represents “a rare, shovel-ready opportunity” to construct a 332,000-square-foot class-A distribution building, according to Brookfield.

Brookfield listing is proof Indian REITs are here to stay

Commercial  •  livemint

Benvenuto proposes 21-storey rental tower

Residential  •  Urban Toronto

The Benvenuto Group has submitted a NEUF architects-designed proposal for a 21-storey residential rental building at 8 Brownlow Ave. in Midtown Toronto. A total of 167 new rental units are proposed, in a mix of 17 studios, 81 one-bedrooms, 49 two-bedrooms and 20 three-bedrooms.

T.O. prices to top $1M amid 52% YOY sales surge: TRREB

Residential  •  Bloomberg  •  Toronto Star  •  Globe Newswire

The outlook for the GTA is healthy with strong buying intentions, a near-record sales forecast of more than 100,000, and a record average selling price over $1 million, according to the Toronto Regional Real Estate Board’s Market Year in Review & Outlook 2021 Report.

Eviction enforcement resumes in Eastern Ontario

Residential  •  Toronto Star

BILD, OHBA support Queen’s Park’s re-opening direction

Residential  •  Globe Newswire  •  Ottawa Citizen

The Building Industry and Land Development Association and the Ontario Home Builders’ Association applaud the Ontario government’s decision to remove the construction-permitting restrictions and the prohibition on starting new renovations that were part of the emergency orders as of Jan. 13.