Tribute, Secure buy Pickering retail, development lands

RENX  Residential, Commercial  •  Retail, Condominiums, Land  •  Toronto / GTA

Tribute Communities and Secure Capital have partnered to acquire the Brookdale Centre and highly prized multiresidential development lands along a major commercial corridor in the east GTA community of Pickering.

Dozens of Mtl. apartment buildings sold in $300M deal

Residential  •  Montreal Gazette

Privately held Les Immeubles Banvest Inc., a subsidiary of Banvest Development, has acquired about 70 multifamily properties, representing 2,242 units in 10 suburban Montreal locations, from New Jersey-based RAAMCO for $300 million. The deal marks RAAMCO’s exit from the Quebec market after three decades.

Brookfield lost $2B in 2020 on valuation drops

Commercial  •  Investment Executive  •  Bisnow

Brookfield Property Partners swung to a loss in Q4 despite seeing a significant pickup in private investment activity. “Institutional investors continue to rotate capital from fixed income investments into real assets that generate long-term derisked yield,” CEO Brian Kingston said.

Soneil Investments buys Markham offices for $115M

RENX  Commercial  •  Office  •  Toronto / GTA

Soneil Investments of Brampton has acquired a pair of class-A office buildings at 55 and 105 Commerce Valley Drive W., in the suburban GTA city of Markham for $115 million, the firm announced. The mid-rise properties comprise over 375,000 square feet of space.

Squamish nation shapes sustainable Van. village of 9,000

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

It’s 2035. As you look across False Creek toward downtown Vancouver, the two arms of a ceremonial gate are flanked by a dozen towers, their façades punctuated with imagery by Indigenous artists, surrounded by green lan­dscapes and copses of red cedar.

Epic, Windmill create One Planet Living investment fund

RENX  Commercial, Real Estate  •  Office, Investment  •  National

Epic Investment Services is partnering with Windmill Development Group to create the One Planet Living Real Estate Fund, which focuses on producing environmental, social and market financial returns with an initial pipeline of projects in Ottawa and the GTA.

T.O. mulls parking maximums on new projects

Residential  •  Toronto Star

In the past, the City of Toronto has required a minimum amount of parking for new buildings. However, a review of parking regulations this year will instead consider the maximum amount of car parking developers can build in their projects.

68 workers tested positive for COVID at The Well

Residential, Commercial  •  Daily Commercial News  •  RENX

Ontario’s Ministry of Labour, Training and Skills Development has updated the scope of positive COVID-19 infections at Tridel’s The Well multi-use project in Toronto. It was reported 68 workers tested positive for COVID-19.  

CMLS Financial commentary discusses CRE rent subsidy

Commercial  •  Globe Newswire

CMLS Financial’s February  2021 Commercial Mortgage Commentary looks at the federal government’s updated commercial tenant rent subsidy, the asset class winners and losers of 2020, the latest spread pricing in the market, and much more.

Mum’s the word on shopping centre limits

Commercial  •  Winnipeg Free Press

Just how many people are allowed inside large shopping malls such as CF Polo Park? With neither the mall nor the province willing to say, epidemiologists believe the situation could lead to rising COVID-19 case counts and “deadly” superspreader events.

Avril opening first urban concept store in downtown Mtl.

Commercial  •  Retail Insider

Avril Supermarché Santé will open its first urban concept in the heart of Montreal in June. The 7,500-square-foot supermarket will be located in Humaniti Montreal, a multi-purpose building located in the heart of the Quartier international.

Podcasts from the real estate world

Residential, Commercial  • 

David Popler, JLL: Using data to elevate client service, Tenant Experience Network. Episode 8
Michael Masse & Rennie Kissoonsingh, GDI: Management of COVID-19 in buildings today, REALtalk: Episode 18
Annie Rinker, Hines: How tech is changing tenant experience, Tenant Experience Network. Episode 9

Knotel files for bankruptcy protection

Commercial  •  Globe and Mail (Sub. required)

New York-based co-working provider Knotel has filed for creditor protection in the U.S., the latest flexible office company to be devastated by the COVID-19 pandemic. Swiss-based IWG filed for creditor protection for locations in Canada and the U.S. last summer.

Gazit Globe, HennickCo JV on Harvard Square Building

Commercial  •  Globe Newswire

Hennick & Company announced it has entered into a joint venture with Gazit Horizons, Inc., a wholly owned subsidiary of Gazit-Globe, for the ownership of 1430 Massachusetts Ave. a 50,000-square-foot mixed use building located in the heart of Harvard Square, Cambridge, Mass.

Bezos to step down as Amazon’s CEO later this year

Commercial  •  Globe and Mail  •  CTV  •  Business Insider

Jeff Bezos will step down as Amazon (AMZN-Q) CEO in the third quarter. In a letter to Amazon employees published Tuesday afternoon, Bezos announced he would transition to executive chairman, where he’ll focus on “new products and early initiatives.”

Toys ‘R’ Us has closed all its U.S. stores again

Commercial  •  CNN

Metro Vancouver home sales up 52.1% YOY

Residential  •  CBC  •  Financial Post  •  Financial Post

Homes sales in much of Metro Vancouver in January increased by 52.1 per cent year-over-year. Colette Gerber, chair of the Real Estate Board of Greater Vancouver, says home sales activity in January outpaced supply, putting upward pressure on prices.

Calgary has strongest January sales since 2014: CREB

Residential  •  Calgary Real Estate Board media release  •  Calgary Herald

January sales in Calgary were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021. Sales activity improved across all product types and across all price ranges.

Montreal, Quebec City home sales set records in January

Residential  •  Global News  •  Globe Newswire  •  Globe Newswire

Montreal and Quebec City home sales reached record highs in January, even as the regions contended with strict lockdowns. The Quebec Professional Association of Real Estate Brokers says Montreal sales climbed to 3,971 in January, up 17 per cent from 3,398 year-over-year.

Case of suspended realtor tests regulator power

Residential  •  Globe and Mail (Sub. required)

The case of a suspended Toronto real estate agent who is undergoing bankruptcy proceedings and facing multiple civil lawsuits and a criminal fraud charge is raising questions about the effectiveness of the Real Estate Council of Ontario.