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Merchant House ‘bullish’ on Victoria, buys downtown block
Merchant House ‘bullish’ on Victoria, buys downtown block
RENX Commercial • Office, Retail • British Columbia • December 19, 2018
A B.C. developer has purchased the Blanshard Block in Victoria, citing its “bullish” opinion on the provincial capital. Merchant House Capital acquired three downtown lots between Fort Street and View Street, including Montrose apartments and the Monk building.
Regional Group acquires Postmedia’s Ottawa building
Commercial • Ottawa Business Journal • Ottawa Citizen
Regional Group announced Tuesday it has acquired the Postmedia building currently home to the Ottawa Citizen and the Ottawa Sun. The 186,000-square-foot Postmedia building at 1101 Baxter Rd. sits adjacent to Highway 417.
Melnyk proposes restructured partnership on Ottawa project
Commercial • Ottawa Business Journal • Ottawa Citizen
The Ottawa Senators have proposed a deal with John Ruddy’s Trinity Development Group the team says would allow Ottawa’s LeBreton Flats project to proceed. The proposal would see the Senators-backed CSMI dramatically reduce its involvement in the project.
Sun Life to buy GreenOak, merge with Bentall Kennedy
RENX Commercial • Investment • International • December 19, 2018
Sun Life Financial Inc. will merge Bentall Kennedy with U.S.-based GreenOak Real Estate and become the majority shareholder of the new entity Bentall GreenOak. Sun Life will pay $195 million for a 56 per cent interest in Bentall GreenOak.
Navigating your commercial mortgage renewal
RENX Commercial • December 19, 2018
You’ve just received a letter with the renewal options your financial institution is offering on your commercial mortgage. How can you assess the competitiveness of the offer before you? Is it worth your time to explore other options?
Cominar to house new Ford R&D facility
Commercial • Canada Newswire
Cominar (CUF-UN-T) today announced Ford has signed for 40,000 square feet at 800 Palladium Drive at its Palladium Campus in Kanata. The new building will be home to one of the automaker’s most sophisticated research and development centres.
Winnipeg’s Graham Avenue more than a transit hub
Commercial • Winnipeg Free Press
A little more than 20 years ago, a stretch of Graham Avenue was blocked off from vehicular traffic and reserved exclusively for transit buses. The concept of the Graham Mall is changing as is the dynamic of downtown.
Berkshire Hathaway reducing Home Capital stake
Commercial • Toronto Star • Globe and Mail (Subscription required)
Home Capital Group Inc. (HCG-T) says Warren Buffet’s Berkshire Hathaway Inc. is reducing its stake in the mortgage lender to less than 10 per cent. Buffet’s investment firm acquired a nearly 20 per cent stake in Home Capital in 2017.
Richmond limits ALR homes to 400 square metres
Residential • Richmond News • CBC
Richmond council voted early Tuesday morning to limit the size of homes in the Agricultural Land Reserve to 400 square metres (4,306 square feet). Many of the speakers owned farmland in the ALR and spoke about trying to make farming viable.
Housing market correction ‘is not over yet’
Residential • Globe and Mail (Subscription required) • Business In Vancouver
The Toronto and Vancouver housing markets aren’t out of the woods just yet, economists warn. For that matter, the residential real estate correction playing out across Canada isn’t done yet, either, CIBC World Markets said in a new study.
252 more Hamilton apartments can become condos
Hamilton city councillors have approved converting 252 lower-city apartment units to condos. City council’s planning committee gave Effort Trust approval to convert 128 downtown rental units. Developer Denis Vranich was approved to convert 124 units.
Airbnb $58M industry in Nova Scotia
Residential • CBC
More than 3,800 Airbnb hosts charged nearly $58 million for their accommodations in the last 12 months in Nova Scotia. That’s according to estimates provided to CBC News by AirDNA, a company that compiles market information on short-term rentals.
RYU opens new store in Sherway Gardens
Commercial • Canada Newswire
RYU Apparel Inc. (RYU-X), creators of urban athletic apparel, has officially opened the doors of its second store in Toronto, in the indoor mall of Sherway Gardens. It is its sixth retail store in Canada.
Bone & Biscuit Company opens first Ontario location
Commercial • Canada Newswire
The Bone & Biscuit Company, a boutique pet food and supplies retail franchise, announced today the opening of its Hamilton location. Oakville, Guelph and Etobicoke stores are scheduled for launch in February 2019.
Hamilton puts off decision to allow cannabis retail stores
Commercial • CBC
Hamilton city council is delaying a decision on whether to allow private cannabis retail stores in Hamilton to the new year. In the meantime, it’ll ask what the public thinks. Councillors voted 7-6 Tuesday to defer the decision until Jan 14.
Equifax acquires property knowledge company JLR
Commercial • Globe Newswire
Equifax Canada announced it has acquired JLR Inc., a leader in property knowledge and innovative technology based on integration and distribution of property data in Quebec. Equifax Canada provides insights including scores, risk analysis and market share analysis.
TFSA investors: Consider SmartCentres, WPT Industrial
Commercial • Motley Fool
What are some examples of stable securities that’ll make you rich over the long-term with a TFSA? Consider SmartCentres REIT (SRU-UN-T) and WPT Industrial REIT (WIR-U-T), two boring, but rock-solid income plays.
Longboard Construction rises from humble beginnings
Commercial • Calgary Herald
Bryce Dillabough and Lance Neilsen started their own company in 2006. Since then, Longboard Construction has grown into a general contracting firm providing professional and management services for new commercial buildings, tenant improvements and renovation projects across Western Canada.
Google climbs NYC rankings ahead of Amazon’s arrival
Commercial • Bloomberg
America’s finance capital is getting colonized by Silicon Valley. Google’s planned $1 billion expansion in New York will solidify its dominance as the city’s top big-tech office tenant — but only until Amazon.com Inc. arrives.
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