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Minto Apartment REIT sells two Ottawa properties for $86M
Minto Apartment REIT sells two Ottawa properties for $86M
Minto Apartment REIT (MI-UN-T) has sold two rental housing properties to Ottawa Community Housing for $86 million in a transaction which is designed to lower its variabl-rate debt and also reduces the average age of its remaining portfolio.
Maxime Ménard named Fiera Canada president, CEO
Fiera Capital Corp. (FSZ-T) has named Maxime Ménard as president and chief executive officer of Fiera Canada and its global private wealth operations as part of its ongoing succession process.
Stantec acquires engineering firm Morrison Hershfield
Stantec (STN-T) has acquired Morrison Hershfield, a Markham-based engineering firm with 22 North American offices, doubling its transportation presence in Ontario. Morrison Hershfield is the engineer of record for Project NexStar, Canada’s first lithium-ion EV battery manufacturing facility in Windsor.
Demo permit issued for former London Free Press building
The razing of a massive office building in downtown London, Ont. appears imminent as the city has issued a demolition permit for 369 York St., former home of the London Free Press creating an unprecedented opportunity to build much-needed housing.
StatCan, Rentals.ca partner on Rental Market Industry Index
Rental listing platform Rentals.ca will be furnishing Statistics Canada with the data for a new rental housing index designed to be available to the public. The index will focus on current market rents, as opposed to average rents.
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Retail leasing market to stabilize amid challenges
Canada’s retail leasing market will stabilize over the near term, following a period of modest progression, says the 2024 Canadian Economic Outlook and Market Fundamentals Report by Morguard. The report said leasing market demand characteristics were moderately positive in 2023.
20% of restaurants with pandemic loan at risk
In a recent Restaurant Canada survey, one in five of the association's 27,500 independent members said they'll likely close at least one location due to the Jan. 18 deadline to pay back COVID-era loans.
QSL partners with Port of Montreal on green shipping corridor
Quebec-based QSL has joined forces with the Port of Montreal and Oceanex to create Canada's first green shipping corridor between Montreal and St. John's, N.L. The initiative is intended to decarbonize one of the busiest shipping routes in Eastern Canada.
Rise in farmland values lures investment
After 30 consecutive years of growth, Canadian farmland values increased again in 2023 and are forecast to rise in 2024, says an expert at Farm Credit Canada, a Crown corporation that monitors land sales.
Ingersoll farmland acquisition may trigger industrial
A deal struck between the Town of Ingersoll and Grobrook Farms will see 78 acres of land on Ingersoll's southeast change hands. The land acquisition could have a ripple effect leading to future industrial land moving ahead, said the release.
Six-storey Wpg. residential building nearly complete
The finishing touches are being put on The Point on Pembina at 1125 Pembina Hwy. in Winnipeg. The six-storey, 82-unit building — with one- and two-bedroom apartments — is co-owned by Foresight Development, Reimer Agencies Ltd. and 6699368 Manitoba Ltd.
B.C. cities find rental-only zones aren’t so easy
ANALYSIS: Five years ago, B.C. gave local governments the ability to protect rental buildings through the creation of preserved rental zones. Although rental zones would seem to be a no-brainer, so far it hasn’t been a straightforward process.
Van. immigrants live close to public transportation
More immigrants live in urban centres such as Burnaby’s Metrotown, Surrey’s Newton and Richmond’s City Centre, while longer-term residents prefer lower density areas of Metro Vancouver such as Delta, Coquitlam, Langley, Maple Ridge and White Rock.
Bet against housing market crushes hedge fund's returns
Spartan Fund Management’s Libertas Real Asset Opportunities Fund, betting on a Canadian housing market crisis, had a double-digit loss last year as property prices held up and bank shares rebounded on optimism about a soft landing for the economy.
U.S. office vacancy breaks all-time record
Office buildings across the U.S. have more empty space than ever before, breaking records set during the real estate crashes of the 1980s and '90s. Roughly 19.6% of office space was vacant at the end of the year, says Moody’s.
Warehouse vacancy at highest level since 2020
Average warehouse vacancy rates in the U.S. rose to 5.2% in the fourth quarter of 2023 with 156 million square feet of new space becoming available, another sign the formerly red-hot sector has chilled from its pandemic heights.
Amazon dealt setback in plan for $6B campus
Officials in King George County, Va., have voted to renegotiate an agreement with Amazon needed for the tech giant to move forward with a planned 869-acre data centre campus. The decision could walk back a deal with Amazon.
Apollo winds down Asia equity fund business
Apollo Global Management Inc., a $631 billion alternative asset giant, is shutting its Asia real estate equity fund business. China is in a prolonged housing slump that has led cash-strapped developers to default, Other regional markets are showing strains.
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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