Centurion acquiring 6 Western Canada apartments

RENX  Residential  •  Apartments  •  British Columbia, Edmonton, Saskatchewan

Centurion Apartment REIT is both following the opportunities and continuing to diversify its portfolio with the purchase of six apartment properties in Western Canada, CEO Greg Romundt says. Centurion is making the purchases in Regina, Edmonton and Victoria.

Anthem adds Hawks Ridge to Edmonton projects

RENX  Residential  •  Land, Homes  •  Edmonton

Vancouver-based Anthem Properties is acquiring the Hawks Ridge development near Edmonton from Walton Big Lake in a deal that expands its presence in the district. Anthem is already developing the nearby Trumpeter and Kinglet Gardens communities at Big Lake.

BNP Paribas set to open new Montreal office

Commercial  •  Globe Newswire

BNP Paribas, a premier global banking partner, announced that following several years of rapid growth at its Montreal operations, it will be moving its Canadian main office from McGill College Avenue to 2001 Robert Bourassa Blvd. this fall.

Aimbridge picks Calgary for Canadian HQ

Commercial  •  Calgary Herald

Aimbridge Hospitality, based in Plano, Texas, and considered North America’s largest hotel management company is expanding into Canada — and has chosen Calgary as home to its Canadian headquarters.

Marlin Spring, Osmington plan two mixed-used towers

Residential, Commercial  •  Globe Newswire  •  RENX

Marlin Spring and Osmington Inc. announced the successful acquisition of 10-30 Dawes Rd. in Toronto. The duo will develop a transit-oriented mixed-use project with two high-rise towers containing over 500 homes on the site.

NORR’s three pillars for Union Station’s revitalization

Commercial  •  Daily Commercial News

When architecture and engineering giant NORR was retained to lead an ambitious project to revitalize Toronto’s iconic Union Station, its mission was three-fold, recalls chairman Silvio Baldassarra: Expand, restore and create.

Sponsored by MNP Tax controversies grow in real estate sector

The real estate and construction sector has faced significant, industry-changing pressures in the past four years. From the heightened political focus around affordable housing to the increased audit activity by the Canada Revenue Agency (CRA) …

T.O., Van. businesses struggle under rising taxes

Commercial  •  Globe and Mail (Sub. required)

Aftershocks from the housing boom are sweeping over small businesses in the urban cores of Vancouver and Toronto as soaring land values drive up assessments and, in turn, trigger annual increases in property taxes running into tens of thousands.

Canadians turning to Black Friday over Boxing Day

Commercial  •  Canada Newswire  •  Montreal Gazette

The traditionally American retail holiday of Black Friday is continuing to gain popularity in Canada and has become the most popular shopping event among Canadians, according to Retail Council of Canada’s (RCC) second annual Holiday Shopping Survey.

New competition is on Shopify’s horizon

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post

People are going to spend hundreds of billions of dollars online. The question is just how big Ottawa-based Shopify’s (SHOP-T) slice of that pie will be. It’s a $45-billion question, actually – the company’s stock market value.

Groupe Nordik aims for 10 spas in 10 years

Commercial  •  Globe and Mail (Sub. required)

Gatineau-based Groupe Nordik Inc., which currently has Scandinavian-style spas in Chelsea, Que., and Winnipeg, aims to have 10 spas in 10 years, says Martin Paquette, the company’s founder and CEO. Construction on Groupe Nordik’s next location, in Whitby, Ont., began in October.

Companies must balance benefits of remote work

Commercial  •  Globe and Mail

OPINION: Work stress is a hot topic, with many suggesting getting out of the workplace could relieve that stress. Commuting, hanging out with annoying co-workers, dealing with the grief of an office environment could be relieved by remote working arrangements.

Welltower acquires U.S. MOB portfolios for $1.7B

Commercial  •  PR Newswire  •  PR Newswire

Welltower Inc. (WELL-N) announced it has entered into a definitive agreement to acquire a 29-property class-A medical office building portfolio from Hammes Partners  for $787 million. Separately, Welltower announced an gross investment of $885 million across four separate outpatient medical transactions.

Facebook’s newest Seattle offices sell for $415M

Commercial  •  GeekWire

Facebook’s newest office complex in Seattle’s South Lake Union neighbourhood has sold for $415 million. Ponte Gadea, Spanish billionaire Amancio Ortega’s real estate investment business, bought the two-building Arbor Block complex from the real estate arm of the late Paul Allen.

Alibaba Singles’ Day rakes in record $38B in sales

Commercial  •  Financial Post

E-commerce giant Alibaba Group Holding Ltd. (BABA-N) logged more than US$38.3 billion of purchases during its Singles’ Day bonanza, exceeding last year’s record haul after a 24-hour shopping marathon.

Top 10 upcoming U.S. office projects

Commercial  •  Daily Commercial News

The accompanying tables show the Top 10 major upcoming private and government office building construction projects in the U.S. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Time is now with GTA’s housing-supply crunch: BILD

Residential  •  Toronto Star

Like all markets, Ontario’s housing market is driven by the laws of supply and demand. Strong demand for housing has created a persistent supply challenge that can only be solved by boosting the number of new homes being built.

Stocks have done better than Toronto real estate

Residential  •  Financial Post

Canada’s S&P/TSX Composite Index has returned 157 per cent, including dividends, since the end of 2008 as the economy chugged along, jobs creation surged and corporate profits rose. Prices of residential property in Toronto trailed with a 127 per cent increase.

How many condos are sitting empty in Toronto?

Residential  •  Toronto Star  •  Globe and Mail

Jaco Joubert has a spectacular view of Toronto’s downtown condos. He’s often wondered why so many people struggle to find a decent place to live, with so many new towers and cranes in the sky. What he found surprised him.

Home affordability improves: National Bank

Residential  •  Globe and Mail (Sub. required)

Canadian home affordability has steadily improved this year thanks in large part to a decline in mortgage rates and rising incomes, but conditions remain “difficult” in Toronto and Vancouver, National Bank Financial (NA-T) said Tuesday in a report.