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Apartment acquisitions lead growth at Lankin Investments
Apartment acquisitions lead growth at Lankin Investments
Lankin Investments has closed on two apartment properties - in the Edmonton and Toronto areas - and more acquisitions are imminent as the Greater Toronto Area (GTA) company’s multifamily portfolio continues to steadily grow.
Parravano to succeed Zakuta as CEO at Plaza Retail REIT
Jason Parravano will again add the familiar letters, CEO, to his business cards when he takes the top position at Plaza Retail REIT (PLZ-UN-T) on Jan. 2. He will succeed Michael Zakuta, who will remain on its board of directors.
Seven 20-storey-plus rental towers planned for Kitsilano
Vancouver city council’s Broadway plan is starting to take shape in a small section of Kitsilano, where seven residential towers — each more than 20 storeys tall — are set to be built.
Slate shifts focus from office to 'essential real estate'
Global alternative investment firm Slate Asset Management plans to increase its holdings in several commercial property types as it distances itself from the office sector. The Toronto-based company is also terminating its management deal with publicly traded Slate Office REIT.
Canada’s inflation rate falls to 1.6% in September
Canada’s annual inflation rate slowed more than expected to 1.6 per cent in September, mainly on cheaper gasoline. Financial analysts were expecting a slowdown to 1.8 per cent. This was the weakest inflation rate since February, 2021.
 | KOLT Realty Inc., Brokerage The evolution of small bay industrial real estateThe shift from institutional ownership to tenant-led demand is opening new opportunities for industrial condo conversions. As businesses recognize the benefits of ownership, companies like KOLT are positioned to lead, offering expertise and innovative solutions aligned with evolving market needs. Sponsored by: KOLT Realty Inc., Brokerage |
DT Vancouver condo tower project pivots to rental housing
Another condominium tower project in downtown Vancouver has pivoted into purpose-built rental housing. The new proposal for 1150 Barclay St. nearly doubles the new building’s height to 215 feet, with 21 storeys.
Midtown Toronto project hit with receivership over $53M debt
According to court filings, an Eglinton Avenue West preconstruction project from Toronto-based developer Morgis Group Canada that was hit with a receivership after failing to pay over $53M in debts, was officially appointed a receiver in early September.
MLSE shows off $350M Scotiabank Arena upgrades
Fans at Scotiabank Arena for concerts or Maple Leafs and Raptors games will notice bigger, brighter walkways and more technology. Maple Leaf Sports and Entertainment is halfway through the second phase of its $350M four-phase renovation to the arena.
Red Shores Charlottetown undergoing major expansion
Red Shores Racetrack and Casino in Charlottetown has begun its largest expansion since it opened in 2005. The master plan includes work on the racetrack, dining facilities, Eastlink Centre, the 40,000-square-foot convention centre and the casino.
Fusioncorp to transform former Owen Sound jail, courthouse
The Grey County judicial precinct in Owen Sound, Ont., comprised of a former courthouse, jail and governor’s residence, is set to be transformed by Toronto-based Fusioncorp Developments into a mixed-used entertainment and hospitality venue.
Nexus REIT sells Old Montreal office portfolio, vacant land
Nexus Industrial REIT (NXR-UN-T) has sold its 50 per cent ownership interest in its remaining Old Montreal office portfolio, consisting of an office building and a mixed-use building. The REIT also sold 11 acres of vacant land in B.C.
Blackstone sells $522M Canadian mortgage bonds
Blackstone sold Canadian mortgage bonds backed by warehouses in areas including Toronto and Montreal, an unusual transaction for the Canadian dollar market. The highest-rated portion of the $522.5M deal was priced at 190 basis points above the compounded Corra.
Fixing Toronto's 'too small' condo market
Investors have wreaked havoc on the Toronto condo market, leaving us with tiny units no one wants. But without them the city can't get the housing it needs. Is there a better way?
Another tax isn't the answer to Canada's housing woes
OPINION - One of the “tax solutions” proposed by the federal government in the 2024 budget was that it would consider introducing a new tax on residentially zoned vacant land. Details of the consultation process were released last week.
Northwest completes Brazil lease, lists property for sale
Northwest Healthcare Properties REIT (NWH.UN-T) has announced the renewal of the Sabará Hospital lease, resolving its only major 2025 lease maturity. The REIT has also listed Sabará Hospital for sale and finalized lease extensions at two other properties in Brazil.
Atlas Capital Group drops $202M on Brooklyn tower
Just two years after KKR bought 80 Dekalb Ave., the downtown Brooklyn tower has traded hands again. Atlas Capital Group acquired the 36-story multifamily property for $202.5M, the Real Deal reported.
NYC’s Worldwide Plaza owners seek deal on $940M loan
The owners of Manhattan’s Worldwide Plaza, including SL Green Realty and RXR, are in talks to modify a US$940 million senior mortgage on the office tower after the debt was transferred to a special servicer.
Blue Owl expands at Manhattan’s Seagram tower by 42%
Global alternative asset manager Blue Owl Capital is taking more office space at Manhattan’s landmark Seagram Building. The firm is extending its lease at 375 Park Ave. and expanding its footprint to 238,673 square feet.
7-Eleven to shutter 444 North American stores
7-Eleven plans to shutter 444 stores across North America as the company falls behind on previous earnings forecasts, and the shedding of real estate assets is unlikely to end there.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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