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Equiton enters Niagara Region, buys 4-building apt. complex
Equiton enters Niagara Region, buys 4-building apt. complex
The Equiton Residential Income Fund Trust has acquired four eight-storey, mid-rise rental properties in Welland, Ont. They are the Burlington, Ont.-based private equity firm’s first multifamily properties in the Niagara Region.
Luxury condo The One worth about half its asking price
Troubled Toronto condo project The One — an unfinished 85-storey luxury tower being built at the corner of Yonge and Bloor streets — is heading for more turbulence. It’s possible the senior lender could take over the project.
Snuneymuxw First Nation acquires Casino Nanaimo
Great Canadian Entertainment, which has owned Casino Nanaimo since it opened in 1986, said it has agreed to sell the facility to the Snuneymuxw First Nation. The casino company called the deal a “historic transaction for both parties.”
Slate Office REIT receives notices of default
Slate Office REIT’s (SOT-UN-T) financial troubles are continuing. The trust announced this morning it has received notices of default for its revolving credit facility, and expects to also go into default on upcoming interest payments for three debentures.
Ferguslea plans 2 high-rises near Ottawa's Bayshore mall
The real estate company that developed Accora Village is seeking permission to build two residential high-rises near Bayshore Shopping Centre. Ferguslea Properties has submitted a proposal for mixed-use towers of 37 and 40 storeys at the two-acre site.
A plan for Toronto's Swansea Mews is coming
A plan is finally taking shape to rebuild a condemned housing community beside High Park — more than two years after a devastating ceiling collapse triggered the evacuation of hundreds and forced them to relocate across the city.
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Spotlight's 2,500-unit Kitchener project under receivership
According to court filings, another residential development has been placed under receivership. The vacant 6.3-acre site in Kitchener was approved for the development of 2,500 residential units of affordable housing, day care facilities, and social services, across four towers.
Inflation reaccelerates to 2.9%, raising bar for July cut
Inflation and underlying price pressures unexpectedly surged in Canada less than three weeks after the central bank led its Group of Seven peers into rate cuts, a potential setback for policymakers as they weigh easing monetary policy further.
Capital gains tax changes take effect
In her most recent budget presented this spring, finance minister Chrystia Freeland proposed making two-thirds of capital gains taxable, i.e. profits made on the sale of assets such as a second home or shares, rather than half.
No spike in cottage sales as new capital gains rules set in
Changes to the capital gains inclusion rate take effect today — and while some real estate experts say the changes are causing anxiety within the industry, one real estate association hasn't seen a bump in sales of secondary residences.
StatCan projects Canada's population at 63M by 2073
There could be 63 million people in Canada by 2073, new StatCan projections show. They are a peek into future rapidly evolving demographics, but the report notes the projections include several low- to high-growth scenarios and “are not predictions".
Feds, New Brunswick renew $254M fund agreement
The governments of Canada and New Brunswick signed a new 10-year agreement for the Canada Community-Building Fund. In the first five years, New Brunswick will receive $254.8 million to support local infrastructure priorities.
Ballard, Vertiv partner for data centre backup power systems
Ballard Power Systems Inc. and Vertiv have signed a partnership deal focused on the use of hydrogen-powered fuel cell systems for backup power in data centres. Vertiv makes power and cooling systems and other equipment used by data centres.
Bird's Jacob Bros acquisition comes down to strategic growth
For Bird (BDT.T) president and CEO Teri McKibbon the acquisition of Jacob Bros addressed expansion needs for both companies. Bird Construction announced on June 10 it is acquiring Surrey, B.C.-based Jacob Bros for $135 million.
Real Estate Podcasts
Emily Hanna, Crown Realty: Office Investment in a Changing Market, CRE Podcast
David Giordana, BlackRock: Investing in the Future: The New Era of Infrastructure, The Bid
Avtar Bains, Premise Properties: Changing Landscape of RE Ownership, CRE Podcast
Washington Federal Bank divulges more on C$3.8B multifamily sale
Washington Federal Bank, the wholly owned subsidiary of WaFd, Inc. has closed on a C$3.8 billion sale of multifamily commercial real estate loans to Bank of America, will be selling the loans to funds managed by Pacific Investment Management.
C$1.46B U.K. property fund to liquidate - here’s what’s on the block
An open-ended property fund will liquidate and sell its assets to repay investors. The C$1.46B Lothbury Property Trust said it is redeeming its investments because defined benefit pension schemes are allocating less money to property.
Manhattan office market has a breakout month; 70% surge in leasing
A recent report by real estate firm Colliers shows that nearly two million square feet of office space in Manhattan was leased in May 2024. The pickup in activity is a 70 per cent increase over last year.
Miami-Dade quits C$218M deal to buy 80-acre office campus
Miami-Dade County has notified the owner of an 80-acre Assurant office complex near Cutler Bay that it is backing out of a C$218 million deal to buy the property for the new South Dade Government Center.
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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