Nexus focuses on industrial, preps for move to TSX

RENX  Commercial  •  Industrial, Retail  •  National

Nexus REIT is moving closer to being listed on the Toronto Stock Exchange (TSX), but has remained active with transactions and future plans while en route to that graduation. The TSX has conditionally approved the listing of Nexus’ units.

Nakisa acquires RE management tech firm IMNAT

RENX  Commercial  •  Technology  •  National, International, Greater Montreal

Montreal-based software company Nakisa is expanding into the real estate technology market with the acquisition of IMNAT Software, a cloud-based real estate management solution. IMNAT’s real estate management technology will be added to Nakisa’s lease management solutions portfolio.

Vaultra looking to dominate GTA self-storage sector

Commercial  •  Toronto Star

Vaultra Friday launched the first of a dozen planned GTA self-storage facilities in the Yorkdale Shopping Centre area. The 260,000-square-foot flagship location has 2,000 storage units on six floors and Vaultra is adding Flex office space rentals of boardrooms and desks.

Mall owners could acquire key tenants: Tiger Group

Commercial  •  Canada Newswire

Canadian mall owners are well-positioned to acquire key retail tenants in their portfolios in the months ahead, said Bradley W. Snyder, a Tiger Group executive managing director, during a retail-focused webinar hosted by Insolvency Insider.

Centerpoint Mall latest to file eviction notice against HBC

Commercial  •  Toronto Star  •  Toronto Star

Over the weekend, Revenue Properties Company Ltd., the owner of Centerpoint Mall in Northern Toronto, filed to evict a Hudson’s Bay location, the latest in a line of major landlords looking for unpaid rent from the Canadian retail giant.

Bond rate positive signal for investors: Altus

Commercial  •  REMI Network

A 100-basis-point slide in the 10-year Canada bond rate over the course of the COVID-19 pandemic contributes to real estate’s continuing allure for institutional investors, says Colin Johnston, Altus Group’s president, research, advisory and valuation.

Sponsored by Vaughan Metropolitan Centre City-building continues in the Vaughan Metropolitan Centre

While the COVID-19 pandemic persists, city-building continues in the Vaughan Metropolitan Centre. Vaughan’s emerging downtown core continues to attract significant investment opportunities – in fact, a recent submission was received to develop two additional residential towers in the VMC.

Transforming Calgary into a tech hub won’t be easy

Commercial  •  CBC  •  Calgary Herald

OPINION: Transforming Calgary from an oil-and-gas hub into a tech hub is much more complicated than SAIT’s recent announcement about the creation of a $30-million School for Advanced Digital Technology downtown.

Cory defines new role for Canada Infrastructure Bank

Commercial  •  Daily Commercial News

A recent online panel session was billed as Canada Infrastructure Bank (CIB) CEO Ehren Cory’s debut, but the CIB’s new leader showed no reluctance to outline a new path for the embattled institution.

REIT Notes acquires 14% ownership in Inovalis REIT

Commercial  •  Canada Newswire

REIT Notes Program Ltd., on Nov. 3 and 5, exercised its right to acquire 4,489,127 units, representing an approximate 14% ownership interest in Inovalis REIT (INO-UN-T), for a total purchase price of $35,033,950. REIT Notes previously did not own any units in Inovalis REIT.

Melcor REIT responds to Firm Capital’s demands

Commercial  •  Globe Newswire  •  Globe Newswire

In response to a media release issued by FC Private Equity Realty Management Corp. calling on Melcor Developments Ltd. to assume full ownership of Melcor REIT  the REIT confirmed “its commitment to preserve and maximize value for all unitholders.”

Morguard Corp. increases ownership in Morguard REIT

Commercial  •  Canada Newswire  •  RENX

Morguard Corp. (MRC-T) announced it acquired 1,577,000 trust units of Morguard REIT (MRT-UN-T), through its participation in the REIT’s distribution reinvestment plan. The total units (1,577,000) acquired by Morguard represent approximately 2.48% of the outstanding units.

GTA worker injured after crane collapse at LRT site

Commercial  •  Toronto Star

A construction worker was taken to hospital with minor injuries after a crane collapsed Monday at a construction site for the Eglinton Crosstown LRT. A construction worker was running away from the crane when he “slipped and banged his knee.”

Yardi, TenantBase forge new proptech partnership

Commercial  •  CP Executive

CommercialEdge, a product of Yardi Systems, has teamed up with tenant-facing CRE platform TenantBase to provide a new way for landlords to connect with companies actively hunting for space. The partnership gives CommercialEdge users access to a real-time data feed.

Best Buy beats sales expectations

Commercial  •  Reuters  •  Winnipeg Free Press

Best Buy Co Inc. (BBY-N) beat quarterly comparable sales estimates on Tuesday, boosted by demand for laptops, webcams and other computer accessories as customers settled into work-at-home lifestyles. The consumer electronics retailer’s comparable sales rose 23% in Q3 ended Oct. 31.

IKEA full-year profits drop, eyes recovery this year

Commercial  •  Reuters

IKEA stores owner Ingka Group saw a 29 per cent fall in operating profit in the year to end-August due to the COVID-19 pandemic, but predicts a recovery this year as temporarily housebound consumers spend more on home improvements.

Altree proposes 264-unit mid-rise condo

Residential  •  Urban Toronto

Altree Developments has proposed a 264-unit Kohn Partnership Architects-designed nine-storey building in the Birch Cliff neighbourhood of Scarborough. The building would including 134 one-bedrooms, 100 two-bedrooms, 25 three-bedrooms, and five live-work units.

BofC: ‘Too early’ to say how mortgage holders are doing

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

Bank of Canada deputy governor Toni Gravelle cautioned “it’s too early to be definitive” about how well Canadian mortgage holders are faring with the expiry of COVID-19 payment-deferral programs, even as data shows the sector has weathered the pandemic well.

Hazelview announces rent relief program

Residential  •  Canada Newswire

Hazelview Properties (formerly Timbercreek Communities) today announced the creation of the Hazelview Cares Rent Relief Program to support their residents facing economic hardships due to COVID-19. Hazelview’s contribution to residents and community members will top $1 million in 2021.

There’s a wide divide in cities’ liveable neighbourhoods

Residential  •  Globe and Mail

A notion recently popularized by Paris mayor Anne Hidalgo, known as the 15-minute city, holds that basic necessities should be within a short walk or cycle ride of home, reducing vehicle trips along with the accompanying emissions and inconvenience.