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Canada's lodging market normalizing, but growth continues
Canada's lodging market normalizing, but growth continues
The pace of growth in Canada's lodging market slowed late in 2023 as things returned to more normalized levels after the boom of 2022 following COVID-19 lockdowns, but there were still improvements in room demand and average rates.
Allied to buy majority stake in 400 West Georgia, 19 Duncan
UPDATED: Allied Properties REIT (AP-UN-T) is acquiring a 90 per cent stake in the distinctive 400 West Georgia office tower in Vancouver from Westbank in a financing transaction which values the property at $395 million.
Van. office market gets read on value as investment revives
This week’s valuation of 400 West Georgia Street at $395 million is the first in a string of deals that gives insight into the worth of the city’s office market following the pandemic.
Cartareal seeks to axe proposed tower's office space
Toronto-based Cartareal seeks to replace 268,226 square feet of office space from its 64-storey mixed-use proposal with condo units at Toronto's 505 University Ave. The revised proposal would comprise 770,719 square feet of condo and 4,951 of retail space.
Teachers’ misses benchmark on real estate, infra losses
Ontario Teachers’ Pension Plan recorded a 1.9 per cent gain on investments in 2023 and missed its internal benchmark by a wide margin as losses on real estate and infrastructure assets dragged down returns.
 | GWL Realty Advisors Understanding office in 2024Office vacancy rates post-COVID increased because of cyclical changes from a wave of new supply and structural changes from office work going paperless and wireless. COVID-19 did not create cyclical or structural changes—but did accelerate the paperless shift. Sponsored by: GWL Realty Advisors |
Vancouver Island projects point to the region’s growth, appeal
With three major projects totalling more than 1,600 acres, Seacliff Properties exemplifies Lower Mainland developers finding opportunities on Vancouver Island. A month ago, Seacliff broke ground with joint-venture partner Reliance Properties Ltd. on the $1.2 billion Beachlands development.
Vancouver’s new mega-development undeniably Indigenous
Vancouver’s Sen̓áḵw is big, ambitious and undeniably urban — and undeniably Indigenous. It’s being built on reserve land owned by the Squamish First Nation, and it’s spearheaded by the Squamish Nation itself, in partnership with the private real estate developer Westbank.
H&R REIT acquires $76.5M stake in Brooklyn dev. site
Toronto-headquartered H&R REIT (HR.UN-T) has acquired 75 per cent of a large residential development site along the Gowanus Canal in Brooklyn from All Year Management for $76.5 million US, according to city records made public Monday.
First National surpasses $50B in commercial mortgages
First National Financial Corp. (FN-T) announced that substantial growth in financing multi-unit properties across Canada has enabled it to surpass $50 billion in commercial mortgages under administration (MUA).
Firm Capital successfully refinances seven retail properties
Firm Capital Property Trust (FCD-UN-T) has in place new mortgages secured by seven retail properties totaling 301,981 square feet (100% occupied) in Alberta, Nova Scotia, Saskatchewan, Ontario and Quebec. The properties are owned in a joint venture with Crombie REIT.
Vancouver retail market seeing increase in demand: JLL
“The Vancouver retail market is seeing increased demand even with economic uncertainty. Limited availability and rising rents are driving retailers to secure leases quickly,” said JLL’s Vancouver Retail Insight, Spring 2024, report.
Charcoal Group plans to double number of restaurants
Kitchener-headquartered Charcoal Group of Restaurants is opening four locations in 2024 with the plan to double its landscape in Canada within the next five years, evolve its menu, and keep in touch with each community.
Toronto sees 'a window of opportunity' for tenants
The average asking rent for apartments in Toronto fell 1.3 per cent from a year ago, following a trend in Canada’s more expensive cities as renters opted for more affordable markets, a Rentals.ca and Urbanation analysis has found.
Home insurance rises 7.66% Y-O-Y in January: My Choice
Home insurance rates across Canada in January rose 7.66 per cent year-over-year, fuelled by extreme weather damages, elevated claims costs and rising repair and replacement prices, according to data by insurance comparison site My Choice Financial.
Starwood plans to take luxury hotel brands public
Starwood Capital Group is planning to take ownership of some of its luxury hotels public via a special-purpose acquisition company called Jaws Mustang Acquisition Corp. The combination will put 10 properties under the same public structure.
Bears pledge $2B for new stadium in Chicago
The Chicago Bears are pivoting from plans to build a stadium in Arlington Heights and bearing down on a new domed stadium on the lakefront, pledging $2B in private financing to construct it.
CBRE again leads global investment sales activity
CBRE was the top-ranked firm for global CRE investment sales during 2023, says MSCI Real Assets — the 13th consecutive year CBRE has claimed the top spot. MSCI Real Assets credited CBRE with a 24% market share across all property types.
China’s struggling developers shouldn't expect bailout
China’s struggling developers won’t be getting a major bailout, Chinese authorities have indicated, warning that those who “harm the interests of the masses” will be punished.
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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