Nicola, Blackwood buy industrial land west of GTA

RENX  Commercial  •  Industrial, Land  •  Ontario

Blackwood Partners and Nicola Wealth Real Estate have acquired their second tract of industrial development land in the ring around the Greater Toronto Area (GTA), buying 34 acres in the town of Grimsby.

CRE Matters › The ‘Wild East’: The promising future of Montreal’s industrial market

Jean-Marc Dubé and Arnold Fox: Colliers Montreal

Kitchener 70-acre industrial site prepares for makeover

Commercial  •  Globe and Mail

On a sprawling 70-acre industrial site in Kitchener, Crestpoint Real Estate Investments and Perimeter Development plan the Homer Watson Business Park on its 37 acres and furniture maker Krug expects to renovate two existing 82,000- and 52,000-square-foot,buildings on its newly acquired 23 acres.

Colonnade gets creative to lease post-COVID office

RENX  Commercial  •  Office  •  Ottawa

Colonnade BridgePort, Ottawa’s largest commercial property manager, is offering an innovative approach to the post-COVID return-to-office discussion to help tenants/employers find a way forward that works.

Homestead proposes 25-storey Ottawa apt. tower

Residential  •  Ottawa Business Journal

Kingston-based Homestead Land Holdings is looking to boost its inventory in the National Capital Region by building a 25-storey tower with 235 apartment units at 1300 McWatters Rd. in Ottawa’s West End.

MPI Group proposes 10-storey student residence

Residential  •  Urban Toronto

MPI Group has proposed a 10-storey residential building at 294 Sherbourne St. designed by superkül and dedicated entirely to student residence uses. It would include a seven-storey tower placed atop a three-storey podium and include 178 beds in 153 units: 128 studios and 25 two-bedrooms.

Sponsored by Trez Capital Trez Capital launching Build-to-Hold strategy fund to fulfill investor demand

Trez Capital is a multibillion-dollar lender that contributes to investors’ financial success by providing a source of stable income through custom real estate financings, with approximately $4 billion in assets under management (including mortgages, loans and equity investments).

Pickering condo sales soar thanks to Durham Live

Residential, Commercial  •  blogTO  •  RENX

According to Strata.ca, condo values in City of Pickering have risen by 40 per cent since last summer largely thanks to a new 240-acre district known as Durham Live that will feature a casino resort, luxury hotel and flashy entertainment venues.

Five-storey mixed-use coming to Cornwall

Residential, Commercial  •  Ottawa Business Journal

Construction is set to begin this month on the J.C. Godard Development – Prime Square project, a five-storey, 44-unit residential building in downtown Cornwall with commercial space on the main floor. The total construction cost is estimated at $12.9 million.

Metro Van. multifamily rental sales shatter records

Residential  •  Western Investor

Evidence of the strength of Metro Vancouver’s multifamily market arrived July 9 with the sale of a 21-storey, 151-unit tower at 1155 Beach Ave., at $600,000-plus per rental suite. The $91-million price is one of Vancouver’s largest multifamily sales this year.

Retailers face long-term challenges as restrictions ease

Commercial  •  Globe and Mail (Sub. required)  •  Canadian Grocer

Even pre-pandemic, people were going to malls less often – including the top-tier ones that generate the most revenue per square foot. In 2019, foot traffic at Canada’s top-10 malls fell 22 per cent compared to 2018, according to Deloitte.

REIT second-quarter financial results

Residential, Commercial  • 

Allied Properties REIT, (AP-UN-T),Globe Newswire
Choice Properties REIT, (CHP-UN-T), Business Wire

Brookfield Property Partners’ privatization completes

Commercial  •  BayToday  •  Globe Newswire

Brookfield Asset Management (BAM-A-T) says it has closed a deal to acquire the remaining stake in Brookfield Property Partners (BPY-UN-T). The previously announced deal to buy the stake in the firm it already owns will also take the firm private.

Manulife IM launches global REIT feeder fund

Commercial  •  BusinessWorld

Manulife Investment Management (Philippines) and Trust Corp. launched its Manulife Global REIT feeder fund, which will invest at least 70 per cent of its assets in REITS listed across international markets. The rest will go to other global real estate securities.

N.L. RC archdiocese selling land, residence

Residential, Commercial  •  Globe and Mail

The St. John’s Roman Catholic archdiocese is selling several parcels of vacant land in St. John’s as well as the archbishop’s residence in the nearby town of Outer Cove to pay survivors of abuse at the former Mount Cashel orphanage.

Vatican discloses it owns over 5,000 properties

Commercial  •  Forbes  •  CTV

The Vatican owns more than 5,000 church and investment properties, a central office at the Catholic Church revealed for the first time Saturday, but the church is struggling with a budget deficit, plus years of alleged mismanagement in its investment strategy.

GTA new home sales exceed pre-pandemic levels

Residential  •  Toronto Star  •  Globe Newswire

New home sales in the GTA in the first six months of 2021 are up 25 per cent over the 10-year average, totalling almost two thirds of all GTA new home sales in 2020, says the Building Industry and Land Development Association.

Rent increases predicted for Metro Vancouver

Residential  •  CBC

Sites like Liv.rent, Padmapper and Rentals.ca say the average rental rate in Metro Vancouver is still lower than it was before the pandemic, but those numbers are starting to climb.

Boom hits Canada’s small cities and big towns

Residential  •  Globe and Mail

Mat Clancy, president of the Kingston and Area Real Estate Association, has been watching friends, family, and clients move back to Kingston from places like Toronto for the past couple of years and he doesn’t expect that trend to stop.

Cooler housing market won’t hurt recovery: CIBC

Residential  •  Bloomberg

Canada’s hot housing market is showing early signs of a slowdown that may soften the industry’s contribution to the economy — but not enough to be a major concern, according Canadian Imperial Bank of Commerce economist Royce Mendes.