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Big week for Republic: 3 major Toronto projects earn approvals
Big week for Republic: 3 Toronto projects earn approvals
The week of Feb. 5 was a momentous one for Republic Developments as it received a council-endorsed settlement for a major development (Scarborough Junction) and full zoning approval for two other large projects from the City of Toronto.
M+H finds success with integrated MOB near Ottawa
M+H Properties Group believes it has crafted a winning formula with a multi-storey, 58,864-square-foot medical office development in the town of Carleton Place, just outside Ottawa.
Leyad acquires CDI College Campus in Winnipeg
Montreal-headquartered Leyad announced the acquisition of the CDI College Campus at 280 Main St. in downtown Winnipeg. The property encompasses 24,000 square feet and allows for future high-rise development potential of up to 180,000 square feet and 40 storeys.
Dream Office only the latest REIT to cut distributions
REITs with significant office holdings have been under pressure since the pandemic, with the shift to remote work and higher interest rates hammering the sector. Last week, Dream Office REIT became the latest to cut its distribution.
Edmonton approves Griesbach redevelopment plan
Edmonton has approved a new plan for the Griesbach neighbourhood that will demolish more than 500 affordable rental units and build new homes in the coming years. Canada Lands Company is planning a mix of new single-family and multiresidential homes.
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Lévis requests Quebec gov't aid to create industrial park
The City of Lévis is requesting help from the Quebec government to transform up to 30 million square feet of former agricultural land into an industrial park, which represents nearly double the land area of the future Northvolt AB factory.
Some farmland development restored in new Ontario bill
Queen's Park is restoring some of the changes it rescinded last year that required municipalities to earmark more farmland for development, one of several measures in a omnibus bill that would also shorten environmental reviews for highways and public-transit lines.
Tricon takeover would earn Berman family US$96M
David and Gary Berman, the father-and-son duo who run Tricon Residential Inc., (TCN-N) will receive US$96 million combined, plus potential severance pay, if Blackstone's (BX-N) proposed takeover of their Toronto-based real estate company is completed.
George Iacobescu: From Canada to Canary Wharf
It’s not difficult to imagine why George Iacobescu, the businessman and chair of Canary Wharf Group, feels his life is like a dream after growing up in communist Romania in the decades after World War II.
Wok Boyz plans at least 15 Canadian stores
Wok Boyz, an Asian street food restaurant based in Dubai, has opened its first Canadian location in Liberty Village in Toronto and is looking to expand by at least 15 stores within the next five years.
Subterra, Enercare partner to provide geothermal for housing
Geothermal utility Subterra Renewables and energy services company Enercare Inc. will partner to provide heating and cooling to new multiresidential and low-rise developments across Canada. Subterra will handle geothermal fields while Enercare will offer in-suite equipment like heat pumps.
Court boosts monitor’s powers to probe insolvent rental firm
A Superior Court judge has authorized an investigation into the use of $144 million in borrowed money by the companies and individuals at the centre of an insolvent investment enterprise that owns 405 rental properties in Northern Ontario.
Brookfield explores new infrastructure fund
Brookfield Asset Management Ltd. is beginning early-stage discussions about its next infrastructure product, two months after it closed a record fund that it’s deploying into transportation, telecom and other hard assets.
Invesque sells 5 nursing facilities, senior housing community
Invesque Inc. (IVQ-U-T) has entered into definitive agreements to sell five skilled nursing facilities for a combined gross sales price of US$68.4 million. Invesque also sold a seniors housing community in South Carolina for US$4.0 million.
KBS must raise $100M to retain $613M office portfolio
KBS Real Estate Investment Trust III agreed to raise $100M by July 15, giving it five months to extend its $613M loan for a fourth time, according to a Securities and Exchange Commission filing.
Rentberry latest potential buyer for WeWork
Rental platform Rentberry “plans to explore” making an offer to buy bankrupt co-working company WeWork. Rentberry said it intends to make an offer this week, backed by venture capital firm Berkeley Hills Capital.
Macy’s faces proxy fight with investor
Macy’s (M-N) said on Tuesday that investor Arkhouse Management has nominated nine individuals to its board, setting off a proxy battle just a month after the department store rejected a $5.8-billion go-private bid.
Marcus & Millichap reports $10M loss, shrinking number of brokers
Marcus & Millichap posted a $10.2M loss during the fourth quarter, the Los Angeles-based investment sales brokerage disclosed on Friday. By contrast, the firm brought in $7.2M in profits in the same quarter the previous year.
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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