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Firm buys 50% interest in seven Crombie retail properties
Firm buys 50% interest in seven Crombie retail properties
Firm Capital Property Trust (FCD-UN-X) has bought a 50 per cent interest in seven Canadian retail properties from Crombie REIT (CRR-UN-T) for $41.6 million. Firm calls the acquisition “transformative”, expanding its portfolio by about 19 per cent to $263 million in holdings.
Montreal data centre sector poised for major growth: ROOT CEO
ROOT Data Center is expanding capacity at its two Montreal facilities as CEO AJ Byers predicts the city’s data centre market could grow by 200 to 300 per cent during the next 12 months.
Finding solutions to Calgary’s $300M downtown tax hole
• CBC
In just three years, the value of Calgary’s downtown office towers dropped by more than $12 billion, plunging city tax revenues by $300 million. That has some business leaders suggesting it’s time to shift the burden onto Calgary’s residential property owners.
Canopy Growth to establish New York industrial park
• Canada Newswire • Ottawa Business Journal • Bloomberg
Canopy Growth Corporation (WEED-T) has been granted a licence by New York State to process and produce hemp. Canopy Growth also outlined its commitment to establish a hemp industrial park, investing between $100 million and $150 million US.
Ontario Place was always about the future
It was meant to be a place for the people. However, Ontario Place was also built without building permits. The idea was first pitched by then Progressive Conservative premier John Robarts in August 1968.
City planner has big visions for Hamilton
City planning is often about big visions: shaping city blocks and transit routes and skylines. Hamilton planner Jason Thorne focuses his energy on small and intangible things that create a sense of place and pride.
NCC extends dispute deadline for LeBreton Flats
• Ottawa Citizen • Ottawa Business Journal
The National Capital Commission has granted the parties involved in a dispute over a plan to build a community featuring a new downtown arena for the Ottawa Senators more time to resolve their differences before cancelling their development agreement.
York’s McEwen building rare architectural feat
When it opened last week, York University’s McEwen Building raised the architectural culture of a campus that has come a long way since the nasty brutalist days of the 1968 Ross Building.
Winnipeg building owners oppose heritage status
Two buildings could be given heritage status against the wishes of their owners when Winnipeg’s historical buildings committee meets Wednesday. Owners of the Monte Cassino Court and the 123-year-old Masonic Temple oppose the designation.
SmartCentres announces $200M bought deal offering
• Globe Newswire • RENX
SmartCentres REIT (SRU-UN-T) announced it has entered into an agreement to sell 6,400,000 variable voting units on a bought deal basis at a price of $31.25 per trust unit to a syndicate of underwriters.
Brookfield Property Partners top pick of 2019
• Motley Fool • RENX
I’ve named Brookfield Property Partners L.P. (BPY.UN-T) my top pick for 2019. First and foremost, I want to own great underlying assets. And Brookfield Property Partners delivers. Brookfield also has one of the largest real estate portfolios in the world.
Granite REIT vulnerable to a selloff
• Globe and Mail • RENX
Granite REIT (GRT-UN-T) was the most overbought, technically vulnerable member of the S&P/TSX Composite Index last week. The unit price has been reasonably sensitive to sell signals over the past 24 months.
Ottawa airport surpasses five million passengers for first time
• Ottawa Business Journal • Vancouver Province
The Ottawa International Airport cracked a coveted milestone as more than five million passengers walked through its gates over the course of 2018. The local airport authority finished the year with 5,110,801 travellers, up 5.6 per cent from 2017.
U.S. apartments still a good investment in 2019
• Forbes
Starting in 2010, the fallout from the crash and recession created an imbalance in homeownership that gave rise to an increase in apartment rental rates. The rent increase directly correlates to an increase in the value of apartment buildings.
CRE investors showing appetite for alternative assets
• National Real Estate Investor
It wasn’t that long ago that alternative properties didn’t get much respect, but as yields compress in core property sectors, alternatives have caught the eye of investors, and 2019 should continue that trend.
CapitaLand deal creates huge investment manager
Major Asian real estate developer CapitaLand said Monday it has entered into an agreement to buy two wholly owned units from Ascendas-Singbridge. If the deal is approved, the new entity’s combined assets under management would exceed US$85.79 billion.
Redfin to launch brokerage, search site in Canada
• Canada Newswire • Globe and Mail (Sub. required)
Redfin (RDFN-Q), the next-generation real estate brokerage, plans to launch a national Canadian real estate search site and brokerage service in Toronto and Vancouver by March, with plans to expand to other provinces in the future.
Home sales cap weakest year since 2012: CREA
• Edmonton Journal • Canada Newswire
The Canadian Real Estate Association says the number of home sales in December was down for a fourth month in a row, capping the weakest annual sales since 2012. On an month-over-month basis, home sales fell 2.5 per cent in November.
Arthur Erickson classic on market for $16.8 million
A West Vancouver home described as famed architect Arthur Erickson’s “most complete work” is on the market for $16.8 million. The assessment authority, as of July 1, 2018, valued the home at $5.258 million.
Abandoned Scarborough mansion sells for $3.45 million
It’s decrepit, mouldy, and has been home to more than a few critters. The new owners paid a cool $3.45 million for a shell of a house in a home outside Toronto’s downtown core.
Industry Events
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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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