Cloria, Odacité, Fonds JV on retiree housing market

RENX  Residential  •  Seniors Housing  •  Ontario, Quebec, Greater Montreal

A former Chartwell executive has gone on his own to launch Cloria, a new brand of all-inclusive rental development for active retirees in Quebec. Maxime Camerlain is building his second “active adults” development in Terrebonne, about 35 kilometres north of Montreal.

Summit buying 4 plots of GTA industrial land for $37.6M

RENX  Commercial  •  Industrial  •  Toronto / GTA

Summit Industrial Income REIT (SMU.UN-T) will double its development pipeline in the Greater Toronto Area with a series of four industrial land acquisitions valued at about $37.6 million.

Giant Tiger plans to increase store count to 300

Commercial  •  Canadian Grocer

Ottawa-headquartered Giant Tiger Stores Ltd. is planning to expand its footprint. The retailer has plans to increase its store count to 300 across the country, up from its current 259 locations, and is investing upgrades for both e-commerce and stores.

The People Space › People Space: Core, CPP, WWC, Peerage make senior hirings

Don Wilcox: Managing Editor

L Brands plans to spin off Victoria’s Secret

Commercial  •  Globe and Mail

L Brands (LB-N) said it plans to spin off its Victoria’s Secret business into a standalone company, capping a year of weighing strategic options for the brand including a sale. Victoria’s Secret expects to be valued between $5 billion and $7 billion.

Simon Property, Authentic to acquire Eddie Bauer

Commercial  •  Bisnow  •  PR Newswire

Simon Property Group and Authentic Brands Group have inked a deal to buy retailer Eddie Bauer from private equity investor Golden Gate Capital, which acquired the outdoor lifestyle gear purveyor out of bankruptcy in 2009.

Sponsored by First National Financial LP First National introduces game-changing conventional term program

First National is differentiated as a commercial property mortgage lender not just because of its size – with over $35 billion under management – but because of its ability to provide both insured and conventional financings . . .

Empire completes Longo’s, Grocery Gateway purchase

Commercial  •  Canada Newswire  •  Canada Newswire

Empire Company Ltd. (EMP-A-T) announced it has completed the purchase of 51 per cent of Longo’s, a family-built network of Toronto-area specialty grocery stores, and the Grocery Gateway e-commerce business based on an enterprise value of $700 million.

Historic Montreal buildings could give way to towers

Residential, Commercial  •  Montreal Gazette

Developers Brandon Shiller and Jeremy Kornbluth recently bought several properties in Montreal’s Chinatown, raising concerns over the future of the neighbourhood. If the historic buildings occupying the block were demolished, current zoning allows construction of two 20-storey towers.

Feds unlock $740 million in airport relief

Commercial  •  Winnipeg Free Press

A government official speaking on condition of anonymity because the announcement is not yet public, said Ottawa has established the criteria for airports to have access to $740 million in capital investment over the next six years.

George Weston reports first-quarter loss

Commercial  •  Globe and Mail  •  Canada Newswire

George Weston Ltd. (WN-T) reported a year-over-year loss in Q1 as it was hit by one-time charges. The company says its net loss available to common shareholders was $62 million or 41 cents per diluted share for the quarter ended March 27.

REIT first-quarter financial results

Residential, Commercial  • 

BTB REIT, (BTB-UN-T), Canada Newswire
CT REIT, (CRT-UN-T), Canada Newswire
Flagship Communities REIT, (MHC-U-T) , Canada Newswire
InterRent REIT, (IIP-UN-T), Business Wire
Slate Grocery REIT, (SRT-U-T), Business Wire

Hudson Yards a TOD ‘on steroids’

Residential, Commercial  •  Daily Commercial News

Construction of New York City’s fourth-largest office tower topped out on the far west side of Manhattan earlier this year in Hudson Yards, a 28-acre mixed-use development site aiming to become a magnet for work, play and housing.

Brookfield acquires Calif. logistics facility for $38M

Commercial  •  CP Executive

Brookfield Property Partners (BPY-UN-T) has acquired a fully leased logistics property at 1901 W. Center St. in Colton, Calif., an approximately 232,600-square-foot asset in the heart of the high-demand Inland Empire, from Avalon Apparel Group LLC for $38 million.

Dalfen Industrial acquires 149 acres in central Pa.

Commercial  •  PR Newswire  •  RENX

Dalfen Industrial has acquired 149 acres of land in Bethel, Pa. Dalfen plans to develop three industrial buildings totaling 1,177,400 square feet with an estimated completion date of Q1 2023. The land is located in the Lehigh Valley industrial submarket off of I-78.

European house price surge raises new bubble fears

Residential  •  Globe and Mail

If Sweden’s government gets its way, Bromma airport on the western edge of Stockholm will shut down and be used to build around 30,000 homes, helping to ease a housing shortage that has sent prices in the capital soaring.

Home-price frenzy surging into SW Ontario towns

Residential  •  Windsor Star

The average home sale price in Huron and Perth counties was a record $576,514 last month, a 61 per cent year-over-year jump as the housing frenzy in large Southwestern Ontario cities spills over into smaller communities.

inflation numbers don’t reflect red-hot housing market

Residential  •  Globe and Mail (Sub. required)

Canada’s real estate market has skyrocketed over the past year, setting off a vigorous discourse over the dangers of rapidly rising prices and steeper barriers to home ownership. Yet inflation numbers offer a subdued – even drab – version of events.

Renting is not a ‘financial coffin’: OPINION

Residential  •  Globe and Mail (Sub. required)

A certain four-letter word – rent – comes up a lot for young adults. Let’s dig into how planners are tackling the challenge of mapping a way for millennials and members of Gen Z into a housing market where prices keep soaring.

The cheapest apartments in Greater Montreal region

Residential  •  Montreal Gazette

To find the cheapest possible apartments on average, bargain hunters will need to generally look to off-island locales, which can mean a 30-minute car ride or more, or upward of two-and-a-half hours from downtown by public transportation.