Massive Taza development kicks off with a retail first

RENX  Commercial  •  Hotels and Resorts, Office, Land, Retail  •  Calgary

The 25-million-square-foot Taza development on the Tsuut’ina Nation at the City of Calgary’s southwest boundary is finally taking shape after years of planning. The Tsuut’ina Nation and Canderel will develop The Shops at Buffalo Run on 45 acres of the property.

Starlight takeover a bet on rent potential: Continuum

Commercial  •  Bloomberg  •  RENX  •  Bloomberg

The prospect of higher rents across the Greater Toronto Area helped Continuum Residential Real Estate Investment Trust fetch a $1.72-billion takeover offer, president and chief executive officer Daniel Argiros said of Starlight Investments’ successful bid.

Say goodbye to lifeless office towers

Commercial  •  Globe and Mail

Rather than replicate the typical lifeless office-tower lobby, Amazon and Oxford Properties Group have opted to create more of a café feel at its 402 Dunsmuir St. property in Vancouver.

Edmonton City Centre sold by Oxford Properties

RENX  Commercial  •  Office, Retail  •  Edmonton

Oxford Properties has sold a 1.4-million-square-foot office and retail complex — the TD Tower, Oxford Tower, Centre Point Place and the Edmonton City Centre mall — to a four-member group of investors including a LaSalle Investment Management fund.

New life for Edmonton’s Columbia Avenue

Residential, Commercial  •  Edmonton Journal

The freshly refurbished Dazzmo building is drawing a lot of attention to Edmonton’s Columbia Avenue district. “This is an area we believe is ideal to grow,” says Devin Pope, 32, who, along with his father, Kelly Pope, runs The Gather Co.

A sneak peek at Montreal’s Time Out Market

Commercial  •  Montreal Gazette  •  RENX

Hmmm, so will it be the the fusilli with Nordic shrimps and pistachio pesto or the tartelette fine aux champignons? Montreal’s 40,000-square-foot Time Out Market is officially opening Thursday on the first level of the Eaton Centre.

Sabia’s critics wanted him to fail: Opinion

Commercial  •  Globe and Mail (Sub. required)  •  La Presse

Michael Sabia could hardly pick a better moment to step down as head of Caisse de dépot et placement du Québec, leaving before the next recession plunges it back into the dumps.

B.C. offers to work with Vancouver on derelict hotels

Commercial  •  Globe and Mail

B.C. Housing Minister Selina Robinson says the province will work with Vancouver city council on whatever plans emerge for the Regent and Balmoral hotels, two rundown single-room occupancy properties the city has voted to expropriate for $1 each.

Ex-Tim Hortons executive to lead franchisee group

Commercial  •  Financial Post

Nick Javor, former senior vice-president of development at Tim Hortons (QSR-T), has taken the helm of the Great White North Franchisee Association, a group of store owners who accused the chain of bullying and intimidation in a public two-year battle.

Loblaw Companies reports $331M Q3 profit

Commercial  •  Winnipeg Free Press  •  Canada Newswire

Loblaw Companies Ltd. (L-T) reported a third-quarter profit of $331 million as revenue rose 2.3 per cent, helped by higher sales at its Shoppers Drug Mart stores. The profit amounted to 90 cents per share for the 16-week period ended Oct. 5.

REIT third-quarter financial results

Commercial  • 

BSR REIT, (HOM-U-T), Canada Newswire

BTB REIT, (BTB-UN-T), Canada Newswire

ERES REIT, (ERE-UN-X), Globe Newswire

Fronsac REIT, (FRO-UN-X), Globe Newswire

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

REOC third-quarter financial results

Commercial  • 

Dream Unlimited Corp., (DRM-T), Globe Newswire

MCAN Mortgage Corporation, (MKP-T), Canada Newswire

Trez Capital Mortgage Investment Corp., (TZZ-T), Canada Newswire

Trez Capital Senior Mortgage Investment Corp., (TZS-T), Canada Newswire

​Ivanhoé takes stake in $1.45B German office platform

Commercial  •  IPE Real Assets

Ivanhoé Cambridge is expanding its European footprint with the acquisition of a stake in a $1.45 billion Cdn German real estate vehicle focused on manage-to-core office investments. Ivanhoé said it has bought a strategic equity stake in Golden Capital.

Co-working companies scaling back growth

Commercial  •  Globe and Mail (Sub. required)

Co-working companies say their industry’s growth will slow and become more disciplined in the wake of the troubles at WeWork, which is racing to restructure its money-losing business.

Amazon rolling out new grocery format next year

Commercial  •  CNET  •  CNBC

Amazon on Monday said it plans to open its first new brand of grocery store in California next year, as it amps up its push to become a bigger name in food. The store would be different from Whole Foods.

Increased supply inhibiting U.S. industrial market

Commercial  •  PR Newswire

Ten-X Commercial‘s latest Industrial Market Outlook found that, while the rise in e-retail and the legalization of marijuana have continued to fuel demand for U.S. warehouse space, there is still increased supply of – and softer demand for – industrial properties.

Condo quandry: What to do with the retail space?

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

For years, Toronto and other municipalities have struggled to find planning solutions to address a problem inherent in mixed-use developments; the retail elements are often an unwanted orphan to the more lucrative residential elements.

Home Capital shares have regained all the ground they lost

Residential  •  Financial Post  •  Toronto Star

It took two years, but Home Capital Group Inc. (HCG-T) shares have regained ground lost since the Canadian alternative mortgage lender almost collapsed in 2017. Home Capital shares have almost doubled this year.

Halifax short-term rentals making it harder for locals: Report

Residential  •  CBC

Short-term rentals fuelled by sites such as Airbnb in the Halifax region are negatively impacting people’s ability to find affordable housing — particularly in downtown Halifax — a study by researchers at McGill University has found.

B.C. watchdog to combat money-laundering

Residential  •  Financial Post  •  Global News  •  Business Wire

British Columbia plans to create a single real estate regulator to better combat money-laundering in markets like Vancouver, where the government says dirty money has helped drive up housing prices.