GTA industrial rents up 15 per cent in 2018, headed higher

RENX  Commercial  •  Industrial  •  Toronto / GTA

Industrial rents in the Greater Toronto Area (GTA) jumped 15 per cent during 2018 and could easily rise that much in 2019. A lack of land and strong demand drove average rents from $6.31 to $7.26 per square foot, Colliers says.

Oxford, PSP explore sale of iconic Montreal tower

Commercial  •  Bloomberg  •  RENX  •  RENX

Oxford, PATTISON launch digital canvas in Calgary

Commercial  •  Globe Newswire  •  RENX

PATTISON Outdoor Advertising, Canada’s leader in the sales and operations of Out-of-Home Media, in partnership with Oxford Properties Group, announced the completed installation of a new digital canvas in Calgary’s +15 Pathway at Bow Valley Square.

Peerage Realty expands into Denver, seeks more acquisitions

RENX  Residential, Commercial  •  Homes, Human Resources  •  National, International

Toronto-based Peerage Realty Partners has expanded to the U.S. with the purchase of a majority stake in Denver brokerage Madison & Company Properties. President and CEO Gavin Swartzman notes Peerage has set aside $250 million for other U.S. and Canadian acquisitions.

Montreal firm converts industrial building to net-zero office

Commercial  •  Sustainable Biz Canada

Not only is sustainable development more important than ever in real estate but developers can profit by constructing LEED-certified buildings is the message from Mélanie Robitaille, vice-president and general manager of Montreal-based residential developer Rachel Julien.

Killam acquires remaining 50% of Halifax apartment building

Residential, Commercial  •  Globe Newswire  •  RENX

Killam Apartment REIT (KMP-UN-T) announced it exercised its rights per an earlier agreement and acquired the remaining 50 per cent of The Alexander development in Halifax, in late December  for $44.5 million. The 240-unit developmen is currently 100 per cent leased.

Amazon’s long-term lease key to Concert investment

Commercial  •  Ottawa Business Journal  •  RENX

Brian McCauley, Concert’s president and CEO, says Amazon’s long-term lease on its new distribution facility in Ottawa was a deciding factor in his fund’s deal to buy a 90 per cent stake in the massive warehouse.

Proposals sought for Ontario Place development

Commercial  •  Globe and Mail  •  Toronto Sun

The Ontario government is looking to redevelop Ontario Place into a “world-class” entertainment attraction, sparking renewed debate about whether a casino could be part of the prime Toronto waterfront property’s transformation.

Scarborough subway funding proposal ‘far-fetched’: Experts

Commercial  •  Toronto Star

Ontario’s new pitch to have developers pay for a large part of the Scarborough subway by offering them land is being described by four industry experts as unworkable and “far-fetched.”

Student housing lucrative niche for investors

Residential  •  Globe and Mail

Andy Knapp wagered there was a market for luxury off-campus housing when he first invested in student condos six years ago in Waterloo, Ont. Now, he owns seven dwellings that bring in nearly $17,000 in monthly rent.

Victoria hotelier worried about Canada-China tension

Commercial  •  Victoria Times Colonist

Reid James, GM of the Hotel Grand Pacific, which has seen its Chinese business increase significantly each year since Canada was granted approved destination status by China in 2010, said the growing rift could mean trip cancellations and lost revenue.

Ontario pot lottery winners scramble to strike deals

Commercial  •  Bloomberg  •  Financial Post  •  Bloomberg

Lawyers, retailers and cannabis producers scrambled to sign deals as time ticked down to the Friday deadline as winners of Ontario’s pot shop licence lottery formally applied to open one of the province’s 25 cannabis stores this April.

Ivanhoé, Prologis close on $880M Brazilian venture

Commercial  •  PR Newswire  •  RENX

Global real estate investor  Ivanhoé Cambridge and Prologis, Inc. (PLD-N), a global leader in logistics real estate, announced the close of their agreement to form an approximately $880 million, 80/20 joint venture in Brazil.

Macquarie raises $5B for N.A. infrastructure fund

Commercial  •  IPE Real Assets

Macquarie Infrastructure and Real Assets’ (MIRA) latest North American infrastructure fund has raised $5 billion US at close. The manager said Macquarie Infrastructure Partners IV (MIP IV) has exceeded its predecessor fund, MIP III, which closed at $3 billion in 2014.

Foreign investors on a record China property spree

Commercial  •  Bloomberg

Foreign investors are increasing their presence in China’s commercial real estate market, taking advantage of the deleveraging drive that’s squeezing the nation’s companies. Blackstone Group LP and Singaporean developer CapitaLand Ltd. are among those leading the charge.

CRE investment plummets in Russia

Commercial  •  World Property Journal

According to JLL, commercial real estate investment volumes in Russia reached $2.8 billion US in 2018, down 39 per cent year-over-year from $4.7 billion. Within the total, Q4 2018 investments were $966 million, half the levels of Q4 2017.

Toronto’s unused properties could add affordable housing

Residential  •  Toronto Star  •  Toronto Star  •  Toronto Star

Eleven surplus city properties can be developed to provide more than 10,000 residential units — one-third of them affordable housing — so that more low-income earners can live and work in the city, according to a staff report going to city council.

Real estate agent remains optimistic about Toronto market

Residential  •  Globe and Mail (Subscription required)

Many market watchers are feeling grim about the outlook for Toronto-area real estate in 2019. Real estate agent Manu Singh sees some signals dispirited homeowners and aspiring buyers will find reasons to get back to house hunting.

Saskatoon’s short-term rental review takes four years

Residential  •  Saskatoon StarPhoenix  •  Saskatoon StarPhoenix  •  Saskatoon StarPhoenix

When Debbie and Bill Judt tried to open a bed and breakfast in their Saskatoon home seven years ago, they had to defend their plan at two town hall meetings.

What $500,000 can get homebuyers across Canada

Residential  •  CTV

Half a million dollars might not get you very far in the Toronto or Vancouver housing markets – but in other parts of the country, it will let you snap up just about any property you want, says Karyn Filiatrault.