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Blackstone, Starlight buy 8 GTA apartment buildings
Blackstone, Starlight buy 8 GTA apartment buildings
Starlight Investments and Blackstone Property Partners have acquired eight buildings and 1,067 apartments for the portfolio held by their joint venture. It’s the second major transaction for the partnership. Starlight president/CEO Daniel Drimmer said the properties are in Toronto and Mississauga.
GWLRA breaks ground on Vancouver apartment tower
GWL Realty Advisors (GWLRA) has broken ground on a 21-storey market rental tower on Vancouver’s Robson Street. It’s a project that represents the organization’s increasing appetite for the high-demand, high-cash-flow asset class in the Metro Vancouver region.
Bank head offices reach for the skies
The Big Six banks occupy some of Canada’s most iconic towers, but they’re not content to maintain the status quo – many are moving their headquarters or expanding into new signature spaces.
Marriott expects to debut 30-plus luxury hotels in 2019
Marriott International, Inc. is projecting to open more than 30 luxury properties in 2019, furthering the company’s global perspective on luxury travel with its ensemble of eight distinct luxury brands.
CaGBC makes financial case for building to zero carbon
While zero-carbon buildings can be a major contributor to Canada meeting its international commitment of a 30 per cent reduction of greenhouse gas (GHG) emissions below 2005 levels by 2030, they also make financial sense for developers, building owners and operators.
New Château Laurier design headed for panel
• CBC • Ottawa Citizen
Larco Investments, the developer behind the Fairmont Château Laurier‘s proposed expansion is back with another version of the design, promising more stone and more bronze to make the addition blend better with the century-old hotel.
Commercial condos arrive in Winnipeg
Commercial condos, a real estate trend popular in super-expensive cities in Canada such as Toronto and Vancouver is starting to show up in Winnipeg, though it faces an uphill battle to gain traction here.
Atlantic Canada buyers repurposing old homes
• CBC • Globe and Mail (Subscription required)
What happens when Atlantic Canada’s old, elegant houses become too difficult to maintain or too expensive to keep up? While some buyers might live in the old homes, others turn them into apartments, bed and breakfasts, or office buildings.
Dalfen Industrial buys Arizona warehouse for $24.1M
• Phoenix Business Journal • The Real Deal
Montreal’s Dalfen Industrial has acquired a 418,000-square-foot industrial and warehouse building at 12000 N. 132nd Avenue in Surprise, Ariz., for $24.1 million US. Northstar Commercial Partners sold the building, which is located on 32 acres of land.
Lululemon doubles flagship space in NYC
United Overseas Bank has welcomed Lululemon (LULU-Q) to 592 Fifth Ave.’s tenant roster. The Vancouver-headquartered luxury athleisure retailer will occupy 20,000 square feet on the boutique building’s ground floor, doubling its flagship footprint and relocating from the adjacent Scribner Building.
Toronto-based League expands Chicago office
Almost two years after opening its first location in Chicago, League Inc., a healthtech company based in Toronto is expanding its office. The company will be moving from its current co-working space into a 12,100-square-foot office.
Oxford steps up Investa tower selloff
• The Australian Financial Review (Subscription required)
Canada’s Oxford Properties is just days away from launching a more ambitious reworking of the Investa Office Fund it now controls, with 10 or so assets worth more than $1.4 billion Cdn now earmarked for divestment.
Toronto architects named as industry’s ‘Emerging Voices’
Irene Gardpoit and Eiri Ota of UUfie, Toronto, are the recipients of the 2019 Emerging Voices awards. They were honoured by The Architectural League of New York along with seven other architectural practices from across North America.
India-based data centre equipment supplier in Ottawa
An Indian company is branching out to Canada with a new subsidiary in Ottawa focused on meeting the growing demand for low-latency computing services. Prasa Infocom announced earlier this month it is setting up shop at Bayview Yards.
Tim Hortons opens first restaurant in China
• Canada Newswire • Bloomberg • Globe and Mail (Subscription required)
Today, Tim Hortons (QSR-T) opened its first restaurant in China. The restaurant, located in the People’s Square in central Shanghai, is the first in China since the company signed an exclusive master franchise joint agreement with the Cartesian Capital Group.
B.C. registry to target under-the-radar condo flippers
• CBC • Business In Vancouver • Globe and Mail (Subscription required)
The B.C. government says it has launched Canada’s first registry aimed at cracking down on pre-sale property flipping and tax evasion. The Ministry of Finance says the Condo and Strata Assignment Integrity Register will improve fairness and transparency in transactions.
Rent-to-own helps Port Moody condo buyers
Kush Panatch, president of Richmond-based Panatch Group, is overwhelmed by the response to a program that will allow 30 prospective Port Moody owners to roll the rent they’ll pay on their new units for two years towards the unit’s purchase price.
Tiny homes community approved for Okotoks
Okotoks is one step closer to bringing a tiny homes eco-village to town after council approved the conceptual design. The initiative aims to build a mixed-community of 42 affordable housing rental units, market-rate rental units, short-term vacation rental units and homes.
Canadians still using their homes as ATMs
Canadians are ramping up borrowing against their homes even as the real estate market slumps, exposing the country’s financial system to vulnerabilities, rating company DBRS said. Home equity lines of credit, or Helocs, reached a record $243 billion as of Oct. 31.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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