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Slate to acquire x+bricks' $1.5B German retail portfolio
Slate to acquire x+bricks' $1.5B German retail portfolio
Slate Asset Management has agreed to buy the 188-property German grocery-anchored retail portfolio of x+bricks Group. Toronto-based Slate will make the acquisition in two tranches for approximately $1.5 billion.
JLL launches first GPT model for commercial real estate
After the platforms took the world by storm to write essays, craft poems and quench one’s curiosity, Jones Lang LaSalle (JLL) Inc. is now harnessing generative AI models to deliver commercial real estate insights.
The Well reimagines the office tower
Canadians who have been working from home are slowly trickling back to offices, but the designers of an ambitious new project in downtown Toronto hope to direct that flow into The Well, a mixed-use development comprising three million square feet.
Calgary drops plan to annex Foothills County land
The City of Calgary will no longer be proceeding with a plan to annex Foothills County land into city limits. Calgary had been proposing to annex a block of about 415 acres on the city’s southwest side.
Saskatoon flirting with Calgary-level office vacancies: C&W
Saskatoon is seeing Calgary-level office vacancies rates in its downtown business district as class-A space hit a 31.8 per cent vacancy in Q2 2023, according to Cushman & Wakefield. Class-C offices were nearly 25 per cent empty.
Powell Insurance proposes 58-storey mixed-use
Powell Insurance Brokers has proposed a 58-storey mixed-use rising from a five-storey podium at 349 Davis Rd. in Oakville. The Studio VMA-designed tower would comprise 388 residential units, 7,341 square feet of retail and 15,823 of office space.
Ont. gov't ‘favoured certain developers’: AG
In a searing 93-page report to the legislature Wednesday, Bonnie Lysyk found Ontario Premier Doug Ford’s opening up of 7,400 acres of environmentally protected land last fall “cannot be described as a standard or defensible process.”
Rooms + spaces to begin opening 24 Canadian stores
Canadian-owned rooms + spaces is opening the doors to 24 new stores across Canada. Grand opening events will take place across the country, kicking-off on Aug. 12 in Woodbridge, Ont., and Aug. 19 in Vancouver.
Uniqlo continues expansion with second Edmonton store
Japanese fashion retailer Uniqlo will open its second Edmonton store this fall as the brand continues with its cross-Canada store expansion. The second Edmonton store will span about 15,000 square feet at Southgate Centre.
Metro sees profits shoot up amid sales growth
Metro Inc. (MRU-T) says earnings surged in its latest quarter, fuelled by higher same-door sales. The grocery and drug store retailer says net earnings skyrocketed 26 per cent to $346.7 million from $275 million a year earlier.
Restaurant Brands sees improved sales, profit
Fast-food franchise owner Restaurant Brands International Inc.. (QSR-T) is seeing results from a US$400-million turnaround effort at its Burger King business in the United States, which had previously struggled to achieve sales growth.
Brookfield expects record inflows in 2023
Brookfield Asset Management Ltd. (BAM-T) said it expects to raise US$150 billion this year, bucking the slowdown in the alternative-asset sector. The Canadian firm posted distributable earnings of US$527 million in Q2, up three per cent year-over-year.
WeWork shares sink after warning of bankruptcy risk
WeWork (WE-N) on Tuesday warned of a possible bankruptcy after reporting yet another quarterly loss, in a stunning reversal of fortune for the shared workspace provider that was valued at $47 billion in 2019.
Flexible workspace provider IWG reports record revenues
Flexible workspace and office provider IWG has reported record revenues and a doubling of profits for the first half of the year, as it predicted the pandemic “big bang” in hybrid working would become permanent.
Moody’s cuts U.S. banks on mounting costs, office exposure
Moody’s Investors Service lowered credit ratings for 10 small and mid-size U.S. banks and said it may downgrade major lenders including U.S. Bancorp, Bank of New York Mellon Corp., State Street Corp., and Truist Financial Corp.
Canadian housing permits decline to $6.9B in June
The number of residential building permits issued in June ticked up slightly from May, but the value fell 1.8 per cent to $6.9 billion, a dip that comes after several months of steady growth in the construction sector.
T.O. investors selling off condos as mortgage payments soar
In July, new listings in Toronto increased by 11.5 per cent annually and condominiums had the highest percentage rise in sales volume compared to single-family homes and townhouses, increasing by more than 11 per cent annually.
Even in August lull, GTA buyers are still circulating
The lethargic real estate market in the Greater Toronto Area is picking up a little bit of momentum in early August, according to Patrick Rocca, broker with Bosley Real Estate Ltd.
Home-sharing platforms match students with seniors
Sparrow Living Inc. and SpacesShared are trying to tap an unused part of the housing market by matching students and other renters with homeowners who have empty bedrooms. They're attempting to turn unused bedrooms into longer-term rentals.
Industry Events
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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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