National, Brixen buy Brampton site for 2-tower dev.

RENX  Residential  •  Condominiums, Homes  •  Toronto / GTA

National Homes’ increasing focus on taller residential buildings will continue with the acquisition of a Brampton, Ont., site with partner Brixen Development.

Bullish Brivia launches Montreal apt., condo projects

RENX  Residential  •  Apartments, Condominiums, Seniors Housing  •  Greater Montreal

Brivia Group remains bullish on the multiresidential sector in downtown Montreal and is proving so by kicking off rental and condo developments. “We have so much confidence in downtown that we’re actually launching two projects,” said Irene Peng.

H&R proposes 66-storey mixed-use for Yonge

Residential, Commercial  •  designboom

H&R REIT’s proposed 66-storey 55 Yonge in Toronto’s financial district would include workspace, retail, and nearly 500 residential units. The PARTISANS and BPD quadrangle-designed building would replace two existing towers — one of which was realized in 1958 by Canadian modernist architect Peter Dickinson.

Demand for cloud storage space creates a land rush

Commercial  •  Globe and Mail  •  RENX  •  RENX

In the four years since it was founded, eStruxture Data Centers has developed three data facilities in Montreal, and others in Calgary and Vancouver. Now it’s buying another eight data centres including five in Toronto.

Pattison Group acquires Victoria mixed-use complex

Residential, Commercial  •  Victoria Times Colonist

Vancouver’s Jim Pattison Group has acquired Eagle Creek Village, a shopping centre and residential site across from Victoria General Hospital. Eagle Creek includes about 100,000 square feet of retail, about 76,000 square feet of office space and 174 multifamily rental units.

Sponsored by MNP 2021 Federal budget highlights for real estate & construction industry

On April 19, 2021, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, delivered the 2021 Federal Budget: A Recovery Plan for Jobs, Growth, and Resilience – the first Federal Budget since 2019.

Ceres Global to build $350M Sask. canola facility

Commercial  •  Canada Newswire

Ceres Global Ag Corp. (CRP-T) announced plans to build a $350-million integrated canola processing facility in Northgate, Sask., to help meet the current and growing global demand for canola products.

Value: Weighed and Measured › History tells us we face low inflation risk, despite some runaway prices

John Clark: AACI, FRICS | Vice President, The Regional Group of Companies Inc.

Developer wants Calgary to change Green Line plans

Commercial  •  CBC

Rising costs for construction materials and uncertainty about not having enough money to get the he Green Line through downtown Calgary has the head of Remington Development Corporation, Cody Clayton, suggesting alternatives.

Parliamentary Precinct block redevelopment progresses

Commercial  •  Ottawa Business Journal

Several organizations with a major Ottawa presence are among the firms that have qualified for a design competition aimed at restoring and modernizing a prominent collection of historic government buildings in the Parliamentary Precinct.

Mix of revenue sources saves the day for Brookfield

Commercial  •  Toronto Star  •  RENX

For a company synonymous with commercial real estate, investors might be surprised to hear Brookfield Asset Management (BAM-A-T)  reported a profit in the most recent quarter despite many of its prime office towers sitting mostly empty because of COVID-19.

BentallGreenOak acquires Polish logistics park

Commercial  •  Property Funds World  •  IPE Real Assets  •  RENX

BentallGreenOak has acquired a logistics park comprising three well-located, high-quality warehouses in Gdansk, Poland. This marks the firm’s first investment in the Polish market and the 46th European logistics acquisition BGO has made in the last year.

Dalfen acquires 98,666-sq.-ft. Fort Worth property

Commercial  •  PR Newswire

Dalfen Industrial announced the acquisition of a 100 per cent occupied, 98,666-square-foot property in West Fort Worth next to the Lockheed Martin Aeronautics headquarters. The purchase marks Dalfen’s second acquisition in the Texan city in the last nine months.

Sila sells $1.3B data centre portfolio to Mapletree

Commercial  •  Globest.com

With the sale of a 29-property data centre portfolio, Sila Realty Trust is exiting the space to focus on healthcare. Sila sold 29 data centre properties to Mapletree Industrial Trust, a REIT listed on the Singapore Exchange, for $1.3 billion.

Pandemic brings WeWork back to life

Commercial  •  NBC

As corporate America scrambles to lure workers back to their cubicles, the coronavirus pandemic may have opened up a new opportunity for beleaguered flexible lease company WeWork to make a turnaround and thrive, real estate analysts said.

German real estate giants join in $27B merger

Residential  •  Financial Post

Germany’s two biggest listed landlords Vonovia and Deutsche Wohnen have agreed to join forces in a $27 billion Cdn deal that risks stoking tensions over affordable housing. The merger will create a European real estate giant with 550,000 apartments,

CIBC retools mortgage business

Residential  •  Globe and Mail (Sub. required)

Last year, Canadian Imperial Bank of Commerce (CM-T) had a “retention issue.” The bank was losing too many customers when it came time to renew their mortgages. For retail banking head Laura Dottori-Attanasio, one problem stood out: the fax machines.

T.O. condo sales reach 10-year high for April: BILD

Residential  •  Toronto Star  •  Globe Newswire

The 3,619 condos that sold last month in the Toronto region represent a 10-year high for April, up 69 per cent over the average, according to the Building Industry and Land Development Association (BILD) on Tuesday.

Housing construction spree could soon lose momentum

Residential  •  Financial Post

BMO Capital Markets’ Sal Guatieri says it will be hard to keep construction momentum going as builders are “struggling with supply disruptions, skilled-worker shortages and soaring lumber costs that have added tens of thousands of dollars to the cost . . .”

House building too restricted in many neighbourhoods

Residential  •  Globe and Mail

EDITORIAL: Something is seriously wrong with Canada’s housing market. This year’s price surge is the result of years of decisions and indecision, from politicians at all levels. The building of housing in Canada is too restricted in too many neighbourhoods.