Oxford CRE Hackathon: 400 hackers on 4 continents

RENX  Residential, Commercial  •  Technology  •  International, Toronto / GTA

Kartik Budhiraja enjoys participating in hackathons. However, the 21-year-old Seneca College computer programming and analysis student wasn’t expecting his team to win the grand prize at the Oxford Properties’ Global Hackathon in Toronto on the weekend.

Dream Unlimited eyes pivot to private capital

Commercial  •  Globe and Mail (Sub. required)

The sale of Dream Global REIT provides a healthy payday for Michael Cooper’s holding company as the real estate titan pivots toward private capital in a new era for the industry.

Gov’t charges add $222,000 to new GTA homes: BILD

Residential  •  Globe Newswire  •  Toronto Star  •  Globe and Mail (Sub. required)

The impact of all government fees, taxes and charges are amongst the highest in North America add $222,000 to the cost of an average new GTA single-family home according to a new Altus Group (AIF-T) report conducted for BILD.

PIRET buys $249M Montreal industrial portfolio

RENX  Commercial  •  Industrial  •  Greater Montreal

Pure Industrial Real Estate Trust (PIRET) has purchased an 11-property industrial portfolio in the Greater Montreal Area from  Healthcare of Ontario Pension Plan for $249 million, RENX has learned. The portfolio comprises about 1.5 million square feet.

$500M discount at the heart of smart-city proposal

Residential, Commercial  •  Globe and Mail (Sub. required)  •  RENX

OPINION: Sidewalk Labs promises to create “a global model for urban innovation” in downtown Toronto. All this comes with a big price tag. The company’s proposed deal asks governments to give up $500 million in real-estate value to make it work.

Sponsored by REIC/ICI Gain property management skills in the comfort of your home

Today’s property managers are expected to know more and do more, wearing many hats in a rapidly evolving industry. You can expect to shift between roles that require a diverse set of skills from customer service to marketing . . .

B.C. FN uses property rights to create prosperity

Residential, Commercial  •  Globe Newswire  •  Globe and Mail

By establishing individual property rights, the Westbank First Nation in British Columbia’s southern Interior has become entrepreneurial and prosperous, finds Property Rights and Prosperity: A Case Study of Westbank First Nation,  a new study by the Fraser Institute.

Real Estate Wealth Insights › REIT cash flows and the J curve

Greg Placidi: Chief Investment Officer & Portfolio Manager, Equiton Capital

Oxford to JV on mixed-use $910M Aussie project

Commercial  •  IPE Real Assets

Oxford Properties Group and its Australian partner, Grocon, have been chosen to develop an office and build-to-rent (BTR) project in central Sydney. Sources said the end value of the project would be upwards of $910 million Cdn.

Tricon announces $450M residential JV

Residential  •  IPE Real Assets  •  Canada Newswire  •  RENX

Tricon Capital Group (TCN-T) has entered into a $450-million joint venture partnership with the Arizona State Retirement System which will target investments in master planned communities and the development of single-family “build-to-rent” communities in U.S. Sun Belt markets.

Firm Capital buys 50% interest in Atlanta multifamily

Residential  •  Globe Newswire  •  PR Newswire

Firm Capital American Realty Partners Corp. (FCA-U-X) announced it will be entering into a $20.3-million joint venture in the Greater Atlanta Area. The Riverview Apartments are a 138-unit, multi-family residential building located in Canton, Ga.

ERES acquires CAPREIT Dutch portfolio for $239M

Residential  •  Canada Newswire  •  Canada Newswire

European Residential REIT (ERE-UN-X) announced the acquisition of a Netherlands multiresidential portfolio for approximately $239 million Cdn from CAPREIT (CAR-UN-T). The portfolio consists of 942 residential suites in 18 properties located in seven urban centres.

London industrial, office best placed for no-deal Brexit

Commercial  •  IPE Real Assets  •  Globe and Mail

London industrial assets and regional offices are the parts of the U.K. real estate market that will hold up best in the event of a no-deal Brexit. Savills suggests London industrial will post the strongest rental growth without a deal.

Two new hotels set to open next year in Barrhaven

Commercial  •  Ottawa Business Journal

Barrhaven is finally getting two hotels – with the possibility of more on the way to the West Ottawa neighbourhood. Owner Raj Patel plans to open his six-storey Hampton Inn and Suites, a Hilton brand hotel, in July 2020.

Medicine Hat petroleum production arm closes wells

Commercial  •  Edmonton Journal

The City of Medicine Hat, proudly known as the Gas City, which has owned its own petroleum production arm for more than a century and produces 6,500 barrels of oil equivalent per day is closing 2,000 money-losing active wells.

Montreal nixes sixth condo tower at hospital site

Residential  •  Montreal Gazette  •  CBC

Montreal is pulling the plug on a sixth tower on the former site of the Montreal Children’s Hospital because developer Philip Kerub of High-Rise Montreal has refused to include social housing.

Canadian home sales rise for sixth straight month

Residential  •  Canada Newswire  •  CBC  •  Canada Newswire

Home sales recorded via Canadian MLS Systems advanced for the sixth consecutive month in August. Transactions are now running almost 17 per cent above the six-year low reached in February 2019, but remain about 10 per cent below highs reached in 2016 and 2017.

Foreign buyer vacancy tax unlikely to derail rebound

Residential  •  Financial Post

Not even the promise of a new national tax on foreign homeowners may be enough to chill a Canadian housing market that has been showing signs of warming up again.

Canadian debt easing due to property prices

Residential  •  Financial Post

Canadian household debt eased in the three months to August for the third consecutive quarter as higher incomes more than offset increased borrowing because of low interest rates, according to Statistics Canada.

Reverse mortgages are booming in Canada

Residential  •  Toronto Star

Reverse mortgages are surging in Canada as more older people join the country’s debt bandwagon. If you’re 55 or older, you can borrow as much as 55 per cent of the value of your home.