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Bottom is nigh for most CRE valuations, office still a struggle: Altus
Bottom is nigh for CRE valuations, office still a struggle: Altus
The bottom is in sight for commercial real estate valuations, though there’s probably more room for office values to continue their decline according to Altus Group's most recent industry pulse survey.
ERES sells $173M Netherlands residential portfolio to cut debt
European Residential REIT (ERES.UN-T) has closed on the sales of 530 residential rental housing units and an office property in the Netherlands for approximately C$173 million as management follows through on a pledge to lower debt levels.
Urban land crunch drives auto dealerships to rethink space
The plan for a new Audi dealership in Toronto’s Richmond Hill upends the concept of car lot. Rather than sprawling rows of shiny cars, preowned vehicles and service bays along the highway, it will be in a twin-tower residential complex.
Poll: TO's traffic crisis is keeping workers out of the office
Sixty-four per cent of residents are reluctant to commute due to traffic woes. Traffic is so bad in Canada’s financial capital a majority of residents are prepared to endure around-the-clock construction to improve the situation, a poll reports.
Inflation fell to 2.7% in June, BoC rate cut odds improve
Canada’s annual rate of inflation fell in June, Statistics Canada revealed Tuesday, increasing the odds of a Bank of Canada interest rate cut next week. The Consumer Price Index was 2.7 per cent higher in June than a year ago.
60-acre community with 1000s of high-rise homes for Burnaby
Ledingham McAllister is bringing a new era of thoughtful living to Burnaby. The project will eventually comprise 12,500 homes, more than 33,000 residents and up to 400,000 square feet of retail and office space.
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Edmonton area won't get grocer it's waited for since 2013
The southeast corner of Edmonton's Griesbach neighbourhood sat vacant for years but construction is underway on new mid-rise apartments at 97th Street and 137th Avenue. The site won't, however, become the easily accessible grocery store local residents were expecting.
CAPREIT bulks up liquidity with $740M portfolio sale to TPG
UPDATED WITH QUOTES, DETAILS: CEO Mark Kenney says CAPREIT's (CAR-UN-T) move to sell 75 Canadian manufactured homes communities to TPG Real Estate for $740 million is another step toward becoming a pure-play apartment investor and manager.
Winnipeg orders demolition of crumbling warehouse
The City of Winnipeg has issued a demolition permit to the owners of a crumbling McDermot Avenue building, after ordering both it and a neighbouring building to be evacuated. Neighbours say they've seen bricks falling off the building.
CountryWide adapts Sora Vista to new housing market
Launching a development around elevated interest rates and the rising cost of living is a tricky endeavour, but CountryWide Homes found a way upon releasing Sora Vista in Vaughan. The GTA homebuilder is offering multigenerational and basement rental features.
Mimico set for more growth with proposed 40-storey dev.
Mimico could be home to a shiny new 40-storey development from long-time developer Minto Communities. Located at 29 Portland St., the development would feature a four-storey podium and contain a total of 413 residential units.
Moncton buys back parking lot after developer fails to build
Moncton is spending $1 million to repurchase a downtown parking lot it swapped for the Castle Manor lawn seven years ago. An agreement allows it to repurchase the site if the company didn't begin work on an apartment building.
B.C. returns prominent 7-acre Nanaimo site to First Nation
A prominent waterfront property in Nanaimo has been returned to the Snuneymuxw First Nation as a measure of reconciliation and for its redevelopment potential. The B.C. government worked with the First Nation to jointly acquire the 1 Terminal Ave. site.
18-storey rental housing tower proposed for Vancounver
An existing 1969-built three-storey building with 35 apartment units could be demolished, for redevelopment into a high-rise, mixed-use tower with 146 purpose-built rental homes and retail/restaurant uses.
Edmonton dethroned as city with the fastest-rising rent
A new rent report revealed Edmonton no longer leads in rapidly rising rental costs. The July Canadian Rent Report from Zumper shows while Alberta’s capital continues to see rent growth in the double-digits, Winnipeg has the fastest-rising rents.
Problematic CRE creates an ‘amazing’ opportunity: Marathon CEO
Trillions of dollars of problematic commercial real estate will have to be worked out over the next two to three years, creating an “amazing amount of opportunity” for investors, according to Marathon Asset Management chief executive officer Bruce Richards.
Biden calls for national rent control on corporate landlords
President Joe Biden is calling on Congress to pass a form of national rent control for some 20 million apartment units nationwide, a dramatic federal intervention in the housing market on behalf of current tenants.
Macy's is betting that department stores aren't dead yet
Macy’s has ended takeover talks with investors Arkhouse Management and Brigade Capital Management. The retailer’s shares fell to about $16, their lowest level since before the consortium’s approach in December. But shareholders should temper their disappointment.
3 NBA vets launch CRE firm targeting conversions
Three current and former NBA players — all first-round draft picks — are teaming up on a commercial real estate venture. Philadelphia 76ers centre Andre Drummond and NBA veterans Moe Harkless and Michael Carter-Williams have co-founded Special Teams Real Estate.
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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