Diverse real estate portfolio a top performer for OPTrust

RENX  Residential, Commercial  •  Office, Apartments, Industrial, Investment, Retail  •  National, International

It’s safe to say OPTrust‘s real estate continues to outperform the pension plan in general. “They were happy with us in 2017,” says Rob Douglas, managing director of real estate investments at OPTrust, which has net assets of over $20B.

DIAM latest to cancel GTA condo development

Residential  •  Toronto Star  •  Globe and Mail (Subscription required)

A Danforth Avenue condo is the latest in a series of residential construction cancellations to disappoint Toronto-area home buyers, who handed over deposits to Brampton-based DIAM Developments nearly three years ago.

Buying a home? CMHC could soon kick in 10%

Residential  •  CBC  •  Global News  •  Newinhomes.com

The 2019 federal budget includes a tantalizing pitch for prospective first-time home buyers — one that could see Canada’s housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers.

Liberals’ mortgage plan bad for economy: Opinion

Residential  •  Globe and Mail (Subscription required)  •  Globe Newswire  •  Canada Newswire

The federal government named its new budget “Investing in the Middle Class,” and in many ways, the pre-election plan lives up to that billing. However, far from being a sound investment, it fans the country’s most serious economic brush fire.

New Horizon Mall finally lands anchor tenant

Commercial  •  Winnipeg Free Press  •  RENX

Ten months after tenants started moving into the still mostly empty New Horizon Mall, just north of Calgary, its first anchor tenant is being announced this week. The Best Shop also operates a store in Markham’s Pacific Mall.

CF Polo Park parking program reserves sweet spots

Commercial  •  Winnipeg Free Press

Finding that perfect mall parking spot just got a little easier. On Wednesday, Winnipeg’s CF Polo Park mall introduced CF Park, a six-week pilot project that allows shoppers, for a $5 fee, to reserve parking spots close to an entrance.

BC Assessment charges market rent, so why can’t landlords?

Brandon Harding: NAI Commercial

AIPL Canada has big plans for vacant Windsor property

Residential, Commercial  •  Windsor Star  •  CBC  •  Windsor Star

A company with northern India roots wants to transform a long-vacant University Avenue property with 236 years of history into a distinctive residential/office/retail development called Graffiti. IPL Canada‘s land between Elm and Cameron Avenues is 2.3 acres.

Slowing Vancouver CRE sales due to lack of supply: Altus

Commercial  •  Western Investor

Altus Group’s latest quarterly findings report a total of 2,002 commercial transactions over $1 million in 2018, totaling 12.5 billion. 2017 posted 14.6 billion in sales. “Demand remains strong for investment properties in the Vancouver market area, despite the challenges in 2018 . . . ” the report reads.

Forme principals ordered to be more forthcoming

Residential, Commercial  •  Globe and Mail (Subscription required)

An Ontario judge has ordered the principals of Forme Development Group must be more transparent with the court-ordered monitor overseeing its Companies’ Creditors Arrangement Act process. There are more than 30 companies and 18 properties connected to the Forme insolvency.

Avison Young welcomes 100-plus new principals

Commercial  •  Canada Newswire

Mark E. Rose, chair/CEO of Avison Young, the world’s fastest-growing CRE services firm, announced it has added 100-plus new principals following the recent acquisition of U.K.-based GVA, one of the U.K.’s leading and most diverse real estate advisory businesses.

Bentall Kennedy pays $140M for NorCal Logistics Center

Commercial  •  IPE Real Assets

Bentall Kennedy  paid $140M for the 1.1-million-square-foot NorCal Logistics Center in California, sources say. The real estate investment manager’s core U.S. fund bought the new, single-tenant property from CT Realty and Diamond Realty Investments.

Federal government settles Kitigan Zibi land claims

Residential, Commercial  •  CBC  •  Construct Connect

Major investments could be coming to Kitigan Zibi Anishinabeg First Nation after land claims were settled by the federal government. The agreement announced Monday includes more than $116 million for multiple claims around Maniwaki, Que.

Waterfront Toronto’s new board meeting for first time

Residential, Commercial  •  Globe and Mail (Subscription required)  •  RENX

Waterfront Toronto  faces a pivotal moment this week in its quest to build a digital-driven “smart” community with Google affiliate Sidewalk Labs as its drastically reshaped board meets for the first time.

Couche-Tard misses expectations despite record Q3 profits

Commercial  •  Bloomberg  •  Montreal Gazette  •  Canada Newswire

Alimentation Couche-Tard Inc., (ATD-A-T) is boosting is quarterly dividend by 25 per cent after posting record third-quarter earnings that missed analyst expectations. The higher earnings were driven by higher U.S. fuel margins, internal growth and acquisitions.

DSW aims to expand Canadian stores

Commercial  •  Globe and Mail (Subscription required)  •  PR Newswire

Shoe retailer DSW Inc. (DSW-N) is gearing up to expand its discount offerings in Canada after shedding its mid-priced stores in an industry shakeup in which consumers are increasingly hunting for bargains.

Northview Apartment REIT remains attractive

Residential, Commercial  •  Globe and Mail (Subscription required)  •  RENX

One of the top-performing REITs is Northview Apartment REIT (NVU-UN–T), which was first recommended by my Income Investor newsletter back in November 2004. So far this year it’s ahead 15 per cent. Northview is one of Canada’s largest publicly traded multi-family REITs.

REIT financial results:

Commercial  • 

Minto Apartment REIT, (MI-UN-T), Canada Newswire

New home construction to decline for next two years: Altus

Residential  •  CBC  •  Ottawa Business Journal

The construction of new homes in Canada will continue to decline for the next two years as the economy slows and higher interest rates weigh on consumers, according to a new report from Altus Group.

Vancouver, Toronto non-resident buyer numbers understated

Residential  •  Globe and Mail (Subscription required)  •  Business In Vancouver

Not so long ago, real estate industry and government officials were doing their best to shut down concerns that skyrocketing housing prices in Vancouver and Toronto were related to non-resident buying. As it turns out, they were very wrong.