Oxford invests $40M, revamps Bow Valley Square

RENX  Commercial  •  Office  •  Calgary

Oxford Properties Group has tackled the elevated downtown Calgary office vacancy rate by investing about $40 million in redeveloping its flagship, four-tower Bow Valley Square complex. The initiative has added amenities including a tenant lounge, recreation area and co-working spaces.

Oxford enters U.S. residential development market

Residential  •  Bisnow

Canadian real estate giant Oxford Properties is breaking into U.S. multi-family development with its first deal in the nation’s capital. Oxford is partnering with J.P. Morgan Asset Management and Greystar to develop 750 apartments in D.C.’s Capitol Riverfront neighbourhood.

Breather’s CEO reflects on 2019’s milestones

Commercial  •  BetaKit

Six months ago, Bryan Murphy was tapped as the new CEO of Montreal-based real estate tech company Breather, a startup that helps tenants access private spaces. Murphy, an e-commerce veteran, joined the company following an $85-million equity financing.

Hunt for Vancouver industrial property getting tougher

Commercial  •  Vancouver Sun  •  RENX

A food production company looking to lease a 15,000-square-foot industrial strata space in Metro Vancouver recently got in touch with Bruno Fiorvento, executive vice-president with JLL in Vancouver. “They say, literally, they’ll look at anything from Vancouver to Abbotsford.”

Atlantic Canada’s lowest office vacancy rate In Moncton

Commercial  •  Huddle

Office vacancy rates have lowered in New Brunswick overall, according to the latest survey numbers by Turner Drake & Partners. In June, the total office vacancy rate for Fredericton, Saint John and Moncton fell from 12.43 to 11.28 per cent year-over-year.

Value: Weighed and Measured › Ottawa’s Château Laurier debate: Modern design vs. cultural identity

John Clark: Vice President , The Regional Group of Companies Inc

Canada’s largest municipal rooftop solar grid in Airdrie

Commercial  •  Sustainable Biz Canada

The City of Airdrie just outside Calgary is now home to Canada’s largest municipal rooftop solar installation and Mayor Peter Brown is enjoying the bragging rights, even though he knows it will likely be short-lived.

Economists question budget behind Flames arena plan

Commercial  •  Globe and Mail  •  Toronto Star  •  Calgary Herald

Calgarians have less than a week to consider a plan to spend $275 million on a new hockey arena before council votes on the deal, but economists say the numbers don’t add up and the details are thin.

B.C. court rules against Concord Pacific over site

Commercial  •  Business In Vancouver

The Supreme Court of British Columbia has sided with Oei Hong Leong in a lengthy legal battle between the Singapore-based magnate and Vancouver development giant Concord Pacific over the Plaza of Nations site, formerly the central hub of Expo 86.

L.L. Bean to open first Canadian store in Oakville

Commercial  •  CBC

L.L. Bean is poised to open its first store in Canada. The Maine-based retailer announced Thursday the 13,000-square-foot store will open Aug. 23 in Oakville Place, just outside of Toronto.

Loblaw quarterly profit falls on higher costs

Commercial  •  Reuters  •  Canada Newswire

Loblaw Cos Ltd. (L-T) reported a 2.4 per cent fall in quarterly profit on Wednesday, as the Canadian food retailer continues to invest in building its e-commerce network and retail stores.

Couche-Tard makes strategic cannabis move

Commercial  •  CBC  •  Canada Newswire  •  Canada Newswire

Alimentation Couche-Tard Inc. (ATD-A-T) has agreed to make a strategic investment in Fire & Flower Holdings Corp. (FAF-X) of Edmonton, which will use the funds to develop its Hifyre digital retail platform and expand its network of cannabis retail stores.

Palm Holdings acquires Florida restaurant, marina

Commercial  •  .Florida Weekly

Palm Holdings, a Toronto-based international hospitality developer, announced it has acquired the former EB’s Steakhouse and the marina directly adjacent to the Holiday Inn Express & Suites Naples Downtown 5th Avenue, which it owns.

Anthem acquires Sacramento site for $5.1M

Residential, Commercial  •  PR Newswire

Vancouver-based Anthem Properties Group Ltd. has acquired 1500 S. St. in Sacramento, Calif., for $5.1 million. Anthem is working with architects and planners on a proposal that includes a mix of residential and commercial for the ¾-acre infill project.

Allied a safe REIT with growing distribution

Commercial  •  Motley Fool

It’s a good idea to take a look at REITs like Allied Properties REIT (AP-UN-T), which have more in common than dividend-growth stocks than traditional high-yield REITs, despite being subject to the same growth-dampening requirements.

REOC third-quarter financial results

Commercial  • 

Mainstreet Equity Corp., (MEQ-T), Canada Newswire

International buyers eye N.S. vacation properties

Residential  •  CBC

Nova Scotia has a higher rate of non-resident property ownership than British Columbia and Ontario — but unlike those provinces, most buyers aren’t looking for a shiny new condo in the city.

OREA urges reinforcement of RE disciplinary system

Residential  •  Globe and Mail (Sub. required)

The Ontario Real Estate Association is urging the provincial government to “fix the broken real estate disciplinary system” by beefing up enforcement and investigative powers. CEO Tim Hudak said recent disciplinary decisions have had a “devastating impact” on the profession.

Recreational housing market shows strong gains

Residential  •  Canada Newswire

A new survey of RE/MAX brokers and agents has found recreational properties across Canada are seeing a healthy year-over-year price increase, with 74 per cent of regions surveyed experiencing an uptick. The median price increased seven per cent across the board.

New affordable homes in Banff come with restrictions

Residential  •  CBC

The Town of Banff is taking another step in its ongoing effort to boost the amount of affordable housing in the mountain resort community. Crews have started building homes to sell below market value next to the local high school.