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Crown, Ripple JV acquires small-bay Ottawa industrial portfolio
Crown, Ripple JV buys small-bay Ottawa industrial portfolio
The Crown Realty Partners CR V LP fund has acquired a portfolio of five small-bay industrial buildings in Ottawa, comprising 205,251 square feet, and plans a series of improvements to add value to the assets.
Harrison Street buys two B.C. student housing assets
Harrison Street has entered the B.C. student housing market with the acquisitions of two complexes, the Shelley in Victoria and a 283-bed building under development on Burnaby Mountain near Simon Fraser University in Metro Vancouver.
Artis REIT sells 8 Calgary, Winnipeg retail assets for $222M
Artis REIT (AX-UN-T) is closing 2023 by announcing an unconditional agreement to sell eight of its Canadian retail properties comprising over 600,000 square feet of leasable space in Calgary and Winnipeg for $222 million.
No quick fix for purpose-built rental shortage: Industry execs
Canada’s continuing inflow of immigrants, combined with an existing and growing housing shortage, has made the need for additional multifamily housing development more acute than ever. But despite some progress, significant challenges remain in catching up with demand.
RENX's top commercial real estate stories of 2023
If there was a common theme across the commercial and multifamily real estate industry in 2023, it can be summed up in two words: economic uncertainty. The theme is prominent in RENX's annual list of the year's top stories.
Skyline makes second Rocky View County purchase
Guelph-based Skyline Industrial REIT has purchased a multi-tenant industrial logistics and warehousing facility in Rocky View County, Alta. Completed in 2023, the building totals 414,459 square feet and is 100% leased to two high-value tenants, on long-term leases.
T.O. developers Collecdev and Markee merge
Two relatively young Toronto development firms with a wealth of experience behind them have announced their merger; Collecdev Inc, formed in 2016, and Markee Developments, formed in 2019. The new company is to be known as Collecdev-Markee Developments.
Adaptive reuse innovative solution to T.O.'s space problems
Residential Landscape: It’s called adaptive reuse, and it may help solve some of our lack-of-housing supply problems in the Greater Toronto Area when approvals can be obtained.
Thousands moving to downtown Calgary: What will they do?
To date, there are 17 Downtown Office Conversion Program projects in the pipeline in Calgary, 13 of which are active, resulting in the conversion of 2.3 million square feet of office space.
Some T.O. malls are booming due to fresh takes
Malls such as Yorkdale and The Well, which recently opened in downtown Toronto, are offering fresh takes on retail and expanding the mall experience beyond simply shopping. Yorkdale estimates it has 18 million visitors per year.
Calgary's Kensington Plaza receives $1.5 makeover
Kensington Plaza, next to the Plaza Theatre and surrounded by a mix of businesses, has seen a $1.5 million makeover with funding from the City of Calgary's Established Area Growth and Change Strategy program.
Primaris upsizes unsecured revolving credit facility to $600M
Primaris Real Estate Investment Trust (PMZ-UN-T) has entered into an agreement to upsize its $400 million revolving credit facility to $600 million, aligning to Primaris’ unsecured debt strategy, enhancing financing flexibility and liquidity.
Canadian retailing legend Harry Rosen has died
Harry Rosen, a legend in Canadian luxury menswear retailing, has died, his eldest son has announced. He was 92 years old. Rosen and his brother Lou opened a small made-to-measure menswear store in Cabbagetown in 1954.
Best bets for investing in CRE in 2024
CRE will endure continued inflation and interest-rate challenges into Q2 and Q3 2024, experts and economists predict. However, there are gems investors should consider in 2024 that could outpace the market or prove to be good long-term bets.
Receiver appointed for troubled Van. resort proposal
The company trying to develop the proposed $3.5 billion Garibaldi at Squamish resort has defaulted on loans from the project’s backers, prompting the appointment of a receiver and the auctioning off of its assets, court documents show.
Labatt to cut GHGs by 30% at Montreal brewery
Labatt Brewing Company Ltd. has made a $6-million investment in its Montreal brewery that it says will slash greenhouse gas (GHG) emissions by 30 per cent, contributing to its 2025 and 2040 climate commitments..
Brookfield Property’s debt cut to junk by S&P
Brookfield Property Partners LP’s (BPYPP-Q) issuer credit rating was cut to junk and put on a negative outlook by S&P Global Ratings as the real estate investors’ credit quality deteriorates amid higher borrowing costs and weak office demand.
Four Seasons opening hotel in Shanghai
Toronto-based Four Seasons Hotels and Resorts and Fungseng Prosperity Holdings Limited announced plans for a new hotel in Shanghai. The Four Seasons Hotel Shanghai will rise 44 storeys with 160 rooms and suites and is expected to open in 2027.
L.A. office building sells for 52% less than 2018 price
A L.A. office building near Century City and Beverly Hills sold for about 52% less than its price five years ago. Harbor Associates and F&F Capital Group bought the five-story property for about $44.7 million.
5 big questions real estate is asking in 2024
From concerns over the productivity of a hybrid workforce and how to gain an edge with artificial intelligence, to the ongoing conundrum of what to do with office buildings that are heading for obsolescence, investors and corporate occupiers have a lot on their minds.
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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