Hudson Pacific, Blackstone affiliate buy Vancouver’s Bentall Centre

RENX  Commercial  •  Office  •  Metro Vancouver

Hudson Pacific Properties (HPP-N) says it has purchased downtown Vancouver’s Bentall Centre office complex in a joint venture with an affiliate of Blackstone Property Partners (BX-N). China’s Anbang Insurance Group has owned the four-building, 1.45-million-square-foot complex since 2016. 

Davpart plans 55-storey The United Building at historic Toronto site

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

Davpart unveiled plans Tuesday for a 55-storey The United Building, which would become the continent’s tallest architectural heritage retention development. “Our development will revitalize this significant intersection with a new, and yet historically respectful energy,” said CEO David Hofstedter.

CF, TD Greystone want to build towers at CF Fairview

RENX  Residential, Commercial  •  Office, Apartments, Retail  •  Toronto / GTA

The CF Fairview Mall in Toronto will get an additional $80-million revitalization from owners Cadillac Fairview and TD Greystone Asset Management. The co-owners are also seeking a rezoning to allow the development of residential, hotel and office towers.

U of T building two $100M, 750,000-sq.-ft. towers

Commercial  •  Daily Hive  •  Narcity  •  Globe and Mail

The University of Toronto recently received the largest donation in its history to build a brand new innovation hub. The new 750,000-square-foot complex will be designed to anchor U of T’s cluster of world-leading artificial intelligence scientists and biomedical experts.

$209M Saputo land sale reshapes Burnaby development

Residential, Commercial  •  Business In Vancouver  •  Business In Vancouver  •  Business in Vancouver

The October sale of the Saputo Foods property in north Burnaby for an unprecedented $11 million an acre has quadrupled local land values, driven property taxes sky-high, forced some businesses to close and staked the future costs for high-density development.

A $75B snapshot of foreign-owned Vancouver RE

Residential  •  Vancouver Sun

New analysis shows non-residents of Canada own a much bigger proportion of local housing than previous official reports, with at least $75 billion worth of Vancouver-area residential real estate tied to offshore owners.

Sponsored by Harbour Equity Harbour Equity’s 4th joint venture development fund 50% committed

Harbour Equity closed its 4th joint venture development fund in April 2018 and has now committed 50% of the Fund. Harbour Equity continues to actively review investment opportunities for the balance of the Fund. As a capital provider for developers,

Building homes on underutilized Vancouver land

Residential  •  Vancouver Sun

PODCAST: City of Vancouver senior development planner Chuck Brook and McKinsey Global Institute director Dr. Jonathan Woetzel join host Stuart McNish to discuss ways to best develop housing on underutilized government and private lands that are already paid for.

Value, strong return driving Victoria CRE sector

Commercial  •  Western Investor  •  RENX  •  RENX

Value and a strong return on investment will continue to drive activity in Greater Victoria’s commercial real estate market, according to a new report from CBRE. The CRE firm said there is still strong demand for good office space.

Minto Apartment REIT just hit a new high

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

Ottawa-based Minto Apartment Real Estate Investment Trust (MI-UN-T) owns a portfolio of 24 rental properties with a total of 4,548 apartment units. The majority of the properties are located in Ottawa, but others are in cities such as Toronto, Edmonton and Calgary.

Automotive Properties buys two Winnipeg sites

Commercial  •  Canada Newswire  •  Canada Newswire  •  RENX

Automotive Properties REIT (APR-UN-T) announced it has entered into agreements to purchase two automotive dealership properties in Winnipeg from AutoCanada Inc. (ACQ-T) for a total purchase price of approximately $23.95 million, excluding closing costs.

REIT financial results:

Commercial  • 

European Commercial REIT, (ERE-UN-X), Canada Newswire

Northview Apartment REIT, (NVU-UN-T), Sedar

Will new projects improve Granville Street?

Commercial  •  Business In Vancouver

Can redevelopment provide an image makeover and bring high-end bustle to one of downtown Vancouver’s main streets? That’s the question set to be answered by at least five projects in various stages of completion along the Granville strip.

Is Sobeys suffocating north Edmonton neighbourhood?

Residential, Commercial  •  Maclean’s

When a dog walks into the Bone & Biscuit Co., Kyle Sagan makes a point of kneeling to shake a paw. The family-run pet supply store just marked its first year in Griesbach, a modern, walkable neighbourhood in north central Edmonton.

Rising employment fuels U.S. office rent growth: Yardi

Commercial  •  PR Newswire

U.S. office rents are rising on strong demand and steady supply absorption, according to a new report from Yardi Matrix. The report, which compiles office market data, identifies solid office employment growth as the principal driver of demand.

Amazon-leased office block in Seattle nets $740M

Commercial  •  Seattle Times

An Amazon-occupied office block sold Tuesday for $740 million to a Spanish billionaire in one of the largest commercial property sales in Seattle history. Seattle-based developer Touchstone bought the 2.5-acre former Troy Laundry building from The Seattle Times for $18.4 million in 2011.

What a $500,000 home looks like in 15 of Canada’s largest cities

Residential  •  BC Business

Vancouverites and Torontonians, get the box of tissues handy. Recently, Point2Homes, a Saskatchewan-based real estate news site, conducted a search to determine what Canadians across the country can get for $500,000 in the residential property market.

Ottawa’s bubbling condo market reveals a desire for more

Residential  •  Globe and Mail (Subscription required)

As an early birthday present to himself, Sam Soucy bought a condo. Soucy was working on Parliament Hill but living about 25 minutes away until a late release of a unit at the newly built SoBa building came up in early March.

Regulator reviewing Toronto condo cancellation

Residential  •  Globe and Mail (Subscription required)

The cancellation of DIAM Developments’ sold-out 135-unit condominium building in Toronto throws into sharp focus some of the challenges in the Ontario government’s plans to reform the regulations around the new-home building sector.

Six-storey wing proposed for Parkdale Long Term Care Facility

Residential, Commercial  •  Urban Toronto

A zoning by-law amendment application has been submitted for the expansion of the Lakeside Long Term Care Centre in Toronto’s Parkdale neighbourhood. The plans are calling for the construction of a six-storey addition to the medical institution’s campus.