Dream and the pandemic: Michael Cooper investor Q&A

RENX  Commercial  •  Office, Industrial, Retail  •  National

Michael Cooper had two core messages during a Friday Q&A conference call with Dream Unlimited (DRM-T) investors: first, he’s focused on steering Dream and its subsidiaries through the pandemic with minimal damage; second, he’ll be watching for opportunities.

Canada’s internet infrastructure passing home-work test

RENX  Commercial  •  Technology, Human Resources, Infrastructure  •  National

A Canadian Internet Registration Authority (CIRA) survey shows many Canadians report slower internet speeds as home usage increases significantly due to the COVID-19 pandemic. Those slowdowns, however, haven’t impeded the operations of the commercial real estate industry.

In Calgary, a real estate glut compounds the misery

Commercial  •  Bloomberg  •  RENX

Office landlords in major cities around the world are facing a hit from the coronavirus. In Calgary, they’re suffering from a triple dose of misery: the pandemic, an oil crash and a severe hangover from a building spree.

Empty commercial buildings still require maintenance

Commercial  •  Globe and Mail

Property manager John Butler is one of many on the front lines caring for commercial buildings suddenly emptied by the COVID-19 pandemic. “It wasn’t that things slowed down for me,” says WTC1 Inc.’s Butler. “It was that things got busier.”

Claridge proposes two Ottawa high-rises

Residential, Commercial  •  Ottawa Business Journal

Claridge Homes says it will soon be ready to launch the next phase of its East Flats project with two mixed-use high-rises featuring more than 600 residential units. The Ottawa project calls for up to five high-rises ranging from 25 to 45 storeys.

VANDYK proposes two towers for Mimico GO Station

Residential, Commercial  •  Urban Toronto

The languishing site of the On The GO Mimico condo development could soon be host to a two-tower mixed-use project. A rezoning application was submitted for the property by VANDYK Group of Companies, which envisions 29- and 44-storey towers.

Sponsored by MNP COVID-19 Impact on Landlords and Tenants

Five Key Considerations for Real Estate Businesses During COVID-19 If you are a landlord with residential or commercial tenants, you’re likely facing difficult decisions to mitigate the economic impact of the COVID-19 pandemic.

Most small businesses unable to pay May rent

Commercial  •  Calgary’s Business  •  Vancouver Sun  •  Financial Post

More than half of small businesses in Canada will not be able to pay their May rent without additional support, according to a new survey released Monday by the Canadian Federation of Independent Business.

Shop owners frantically launch online stores

Commercial  •  CBC  •  CBC  •  CBC

For a few years, Theresa Ransom has wanted to venture into online sales for Calgary gift boutique Kala & Lime. Now, with the pandemic shutting down most retail stores, she’s invested many late nights in launching online shopping on her website.

12% of retailers suffered from roadblocks and COVID-19

Commercial  •  La Presse  •  Retail Insider  •  Financial Post

Statistics Canada said Tuesday about 25% of retailers across the country have been “affected by the roadblocks or COVID-19.” Some were even less fortunate: 12% of businesses in the retail sector suffered the consequences of the two events.

Opinion: Canadian cities left out of relief plans

Residential, Commercial  •  Globe and Mail  •  Toronto Star

If COVID-19 was a natural disaster in one region, any typical Canadian city’s reserves would be more than sufficient until federal support arrived. Because COVID-19 is a national disaster, cities have been forgotten in any emergency financial steps so far.

Retail COVID-19 business updates

Commercial  • 

AutoCanada Inc., (ACQ-T), Canada Newswire

Birks Group Inc., (BGI-A), Canada Newswire

Canadian Tire Corp., (CTC-T), Canada Newswire

Ivanhoé, Bouwinvest back Logos China logistics fund

Commercial  •  IPE Real Assets

Logos is believed to have raised US$420 million from existing investors Ivanhoé Cambridge and Bouwinvest, together with a new investor from the Gulf Co-operation Council, in the first close of its new China logistics development fund.

Morgan Stanley to edge away from real estate: CEO

Commercial  •  Bisnow  •  The New Daily

Financial services giant Morgan Stanley will occupy less office space in the post-pandemic future. “With 90 per cent of our employees at home, we’ve had almost no issues from our plant,” CEO James Gorman said.

CRE debt players think May will be worse

Commercial  •  Bisnow

Much of the commercial real estate industry was fretting over the fallout of destroyed businesses and unpaid rents during the month of April. However, some of the U.S.’ biggest debt players are bracing themselves for far worse in May.

Asia Pacific Q1 investment down 34%

Commercial  •  IPE Real Assets

The spread of COVID-19 in Asia Pacific caused CRE investment in the region to fall by 34% during Q1. According to new data and research from JLL, Asia Pacific real estate transaction volumes dropped to $29.5 billion US from $44.7 billion year-over-year.

Demand will fuel B.C. real estate in 2021: BCREA

Residential  •  Globe and Mail  •  Victoria Times Colonist  •  CBC

A report from the B.C. Real Estate Association says the 2020 COVID-driven recession will be deep, although it could be shorter than other Canadian economic downturns. Its report says it expects home sales to sink 30 to 40 per cent for April 2020.

High housing costs harmful to public: B.C. judge

Residential  •  Business In Vancouver

British Columbia’s high housing prices are harmful to the public interest, a B.C. Supreme Court judge stated in a ruling that dismisses an injunction application against the speculation and vacancy tax that aims to address the affordability crisis.

Home prices could fall five per cent: Capital Economics

Residential  •  Bloomberg

Canadian home prices could fall a “relatively modest” five per cent by July as some owners are forced to sell in the face of the economic hardship brought on by COVID-19, Capital Economics said Monday.

U.S. home sales plummeted 8.5% in March

Residential  •  Winnipeg Free Press

U.S. sales of existing homes cratered 8.5 per cent in March. The National Association of Realtors said Tuesday 5.27 million homes sold last month, down from 5.76 million in February. The decrease was the steepest since November 2015.