Summit’s Toronto, Montreal focus leads to record year

RENX  Commercial  •  Industrial  •  Alberta, Greater Montreal, Toronto / GTA

Summit Industrial Income REIT experienced a record year in 2018, acquiring 24 properties totalling 4.8 million square feet and valued at $578.3 million. Summit experienced solid growth in all key performance benchmarks as it expanded its portfolio by 56 per cent.

CMLC to lead Calgary Stampede redevelopment

Residential, Commercial  •  Calgary Herald

The city-owned corporation that led the redevelopment of the East Village will now oversee the transformation of more than 12 hectares of land belonging to the Calgary Stampede. The Stampede is hoping for a hotel to support the expanded convention centre.

Calgary council could soon restart Flames arena talks

Commercial  •  CBC

The details aren’t being made public, but Calgary’s city council will be asked next Monday to approve the city’s negotiating position for a new arena in Victoria Park. A council committee approved the package after a meeting on Wednesday.

Sidewalk Labs vision a possibility all along: Official

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

A senior Waterfront Toronto director told an Ottawa hearing it was known all along Sidewalk Labs might need to go beyond redeveloping a 12-acre parcel near Parliament St. and Queens Quay and expand to 350 acres in the Port Lands.

Vancouver zoning changes boosting land values, rents

Residential, Commercial  •  Globe and Mail (Sub. required)  •  Vancouver Sun  •  Western Investor

Vancouver neighbourhoods that underwent community plans by the city in the past decade have seen the highest spikes in property values – particularly in vulnerable, low-income neighbourhoods.

Condo buyers are also stakeholders in the development

RENX  Residential  •  Condominiums  •  National

GUEST COLUMN: The news media coverage has been unforgiving: developer cancels condominium project years after it was sold out and purchasers are not happy. But the insinuation that follows— that greed is the only motive driving developers — misses the point.

Partners Group sells Billy Bishop terminal stake

Commercial  •  IPE Real Assets

Partners Group has sold its stake in the Billy Bishop Toronto City Airport (BBTCA) passenger terminal to its investment consortium partner, institutional investors advised by JP Morgan Asset Management, for an undisclosed sum.

ViveRE acquires Saint John rental property

Residential  •  Canada Newswire

ViveRE Communities Inc. (VCOM-X) announced it has entered into an agreement to acquire Village View No. 2 Limited Partnership whose sole asset is a multi-family rental property at 50 Noel Avenue, Saint John, N.B. The purchase price is $7,900,000.

Delta 9 plans multimillion-dollar expansion

Commercial  •  Winnipeg Free Press  •  Canada Newswire

Winnipeg’s Delta 9 Cannabis (NINE-X) is laying out its multimillion-dollar expansion plans for the years to come, plans CEO John Arbuthnot says will help build the company into “the Seagram’s of pot here in Manitoba.”

Canopy Growth, Couche-Tard partner on pot store

Commercial  •  CBC  •  Canada Newswire

Cannabis company Canopy Growth Corp. (WEED-T) says it’s teaming up with Quebec retail giant Alimentation Couche-Tard Inc. (ATD-A-T) to support a privately run pot shop in London, Ont. The two companies plan to form a multi-year strategic partnership.

Winners pushes Grant Park Shopping Centre to full house

Commercial  •  Western Investor

Primaris Management (HR-UN-T), which runs Grant Park Shopping Centre in south Winnipeg, is preparing to welcome a trio of new tenants, which will push capacity up to 100 per cent. Discount retailer Winners’ 22,000-square-foot location will open on Aug. 15.

HBC shuttering all 37 Canadian Home Outfitters stores

Commercial  •  CBC  •  Global News  •  Globe and Mail (Subscription required)

Hudson’s Bay Co. (HBC-T) announced Thursday it will close its housewares chain Home Outfitters in Canada. HBC also says it will conduct a “fleet review” of Saks OFF 5th, which has 133 locations in the U.S. and Canada.

PROREIT named among top performers on TSX-V

Commercial  •  Globe Newswire  •  RENX

PRO Real Estate Investment Trust (PRV-UN-X) announced its first-time ranking on the 2019 Venture 50 which celebrates the strongest performances on the TSX Venture Exchange over the last year.

Choice Properties offers stable and growing income

Commercial  •  Seeking Alpha  •  RENX

Choice Properties REIT’s (CHP.UN-T) properties are well-located across Canada, mainly in the largest markets. Approximately 57% of the portfolio’s base rent is generated from large urban markets, mainly in Toronto, Calgary, Vancouver and Montreal.

REIT financial results:

Commercial  • 

Boardwalk REIT, (BEI-UN-T), Canada Newswire

Dream Office REIT, (D-UN-T), Globe Newswire

REOC financial results:

Commercial  • 

Morguard Corporation, (MRC-T), Canada Newswire

Exodus from Montreal toward the suburbs is growing

Residential  •  Montreal Gazette  •  CBC

Mayor Valérie Plante says she is taking a three-pronged approach to the exodus of Montrealers toward off-island suburbs — a trend that is growing, according to a new study by the Institut de la statistique du Québec.

GTA homebuyers choose Halton Region, West Toronto

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

Migration patterns of residential homebuyers in the Greater Toronto Area (GTA) have shifted west, with market share rising in Halton Region and West Toronto between 2013 and 2018, according to a report by RE/MAX of Ontario–Atlantic Canada.

Vancouver’s luxury prices to fall 7.1%: Royal LePage

Residential  •  Western Investor  •  Bloomberg  •  Canada Newswire

Metro Vancouver’s luxury detached homes will see a further median price decline of 7.1 per cent over the next year, according to the 2019 Royal LePage Luxury Properties Report, which assesses high-end homes in five major cities across Canada.

How to improve fairness of Vancouver’s Empty Homes Tax

Residential  •  Lexology

Several weeks ago the Vancouver city council passed a motion instructing its staff to develop a plan that would “improve the fairness and effectiveness of the Empty Homes Tax [or EHT] . . .”