GTA assets, growth drive record 2019 for Summit Ind.

RENX  Commercial  •  Industrial  •  National

Strong performance from Greater Toronto Area assets and a major portfolio expansion led a record 2019 for Summit Industrial Income REIT, which is poised for further growth in 2020 its CEO says. Revenue from income-producing properties in 2019 jumped 54.3 per cent year-over-year.

Shindico risks delay to add multires at Kildonan Mile

RENX  Residential, Commercial  •  Office, Apartments, Retail  •  Winnipeg

One of Winnipeg’s leading developers is risking delaying a major project to capitalize on growing rental market demand. For almost a decade, Shindico Realty has been working on the Shops of Kildonan Mile, a 340,000-sq.-ft. retail and office project.

Telsec snaps up prime Calgary land for new project

Commercial  •  Calgary Herald

Prime land close to downtown is not easy to find, so when a choice two-acre site along Manning Road N.E. became available it was quickly snapped up by Telsec Property Corp. Construction has now begun on two industrial condo buildings.

Toronto’s large and aging residential towers at risk

Commercial  •  Toronto Star

Even as residents of 650 Parliament St., displaced for 18 months after a fire, prepared to return home, a panel of experts at the University of Toronto warned similar calamities are waiting to happen in a city with aging residential towers.

Toronto’s first official wood building near done

Commercial  •  Toronto Star

A five-storey wood building in Liberty Village is the first among several timber-based projects planned or on the go in Toronto. Construction of the $60-million 80 Atlantic Ave. is nearing completion in time for occupancy this summer for commercial tenants.

Value: Weighed and Measured › Condo owners face potential insurance double whammy

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

Proptech: Future funders

Commercial  •  Real Estate IPE

A growing number of real estate investors and fund managers are investing in proptech – either by developing bespoke in-house capabilities, by  signing up to third-party providers or, in other cases, by investing directly in proptech firms themselves.

Canadian PropTech startups in Techstars accelerator

Commercial  •  Globe Newswire

Global design and consultancy organization Arcadis announced the 10 startups, three from Canada, selected for the second wave of its City of 2030 accelerator, powered by Techstars. It’s aimed at identifying and developing startups to transform the natural and built environment.

Peter Menkes named to Order of Ontario

Commercial  •  Remi Network

Peter Menkes, president, commercial/industrial, at Menkes Developments, has been named to the Order of Ontario. The distinction is conferred to individuals who have made exceptional and lasting contributions to Ontario and the well-being of Ontarians. It’s the province’s highest honour.

Second Whites Studios coming to Toronto

Commercial  •  Canada Newswire

William F. White International Inc. announced 181,000-square-foot Whites Studios Cantay, its second studio location in Toronto and eighth Canadian property, is slated to open in early 2021. Whites Studios Cantay will include four stages and two floors of office space.

FlightHub opens modern new office in Montreal

Commercial  •  Canada Newswire

FlightHub an online travel agency serving more than five million airline passengers per year, is an established player on the Montreal travel tech scene creating new jobs and recently completing a full redesign of its head office.

Pomerleau opens new Vancouver office

Commercial  •  Canada Newswire

As a result of continued business growth in B.C., Pomerleau – one of Canada’s leading construction companies, innovators and a pioneer in sustainable buildings and renewable energy – is opening a new Vancouver office.

Vancouver’s West Side businesses struggling

Commercial  •  Western Investor

Vancouver’s smallest commercial district is in big trouble. Foot traffic is down significantly. Boarded-up shops with “for lease” signs dot each block. Some business owners are reporting six-digit losses, while others are giving up entirely.

MIPIM 2020 postponed over coronavirus threat

Commercial  •  IPE Real Estate

MIPIM, the international property event hosted in Cannes, France each March, has been postponed to 2-5 June. Reed MIDEM said the 2020 edition – which was to host over 26,800 participants next week – was moved due to growing concerns about the coronavirus.

OECD warns coronavirus could halve global growth

Commercial  •  Financial Post

The OECD sounded the alarm about coronavirus on Monday, warning of the possibility that it would halve global economic growth this year from its previous forecast. The Paris-based group lowered its central growth forecast from 2.9 per cent to 2.4 per cent.

Court monitor to freeze assets of ex-Bondfield CEO

Commercial  •  Globe and Mail  •  Globe and Mail  •  Globe and Mail

The court-appointed monitor for Bondfield Construction Co. Ltd. is asking a judge to freeze the assets of the company’s former CEO John Aquino. This includes bank accounts and real estate properties scattered across Ontario, some slated for housing developments.

Airbnb’s 2020 stock listing imperiled by virus

Commercial  •  Bloomberg

One of the most anticipated public listings of 2020 is in danger of being derailed by the spread of the coronavirus. Airbnb Inc. has pushed back a stock market debut that had been planned for March possibly into 2021.

Short-term rental operators in Calgary accept licence

Commercial  •  Calgary Herald

Short-term rental operators in Calgary have been receptive to a new requirement that they obtain a city business licence, officials say. More than 750 short-term rentals have been licensed since the city implemented the requirement, effective Feb. 1.

TRREB forecasts strong growth in 2020 housing sales

Commercial  •  Globe Newswire

Strong demand should see home sales crest the 90,000 mark in 2020, with a point forecast of 97,000 for the Toronto Regional Real Estate Board market area. That’s up 10.5 per cent compared to 87,825 sales reported in 2019, with 21% of sales in Peel Region.

Dotloop now with Ontario Real Estate Forms

Residential  •  Canada Newswire

Dotloop®, an industry-leading, end-to-end transaction management platform for real estate professionals, announced Ontario Real Estate Association’s Standard Forms and Clauses are now available directly within Dotloop, creating an improved transaction management option for OREA’s 80,000 members.