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Montreal’s rental, apartment investment market ‘on fire’
Montreal’s rental, apartment investment market ‘on fire’
Montreal’s rental and apartment investment market are “on fire.” That was the phrase heard most often during the Quebec Apartment Investment Conference on Feb. 12. More rental units than condos are being built for the first time since the 1990s.
JLL’s Montreal capital markets team signs on with CBRE
• Globe and Mail (Subscription required)
Jones Lang LaSalle’s capital markets team in Montreal has suddenly resigned, leaving the commercial realtor just as the big-property market in Quebec heats up. The five-person team, led by Scott Speirs, quit Friday and joined rival CBRE Group.
Vancouver’s North Shore Innovation District a priority for Darwin
Oliver Webbe, the president of North Vancouver’s Darwin Development, feels most comfortable when his projects are just a short drive from its North Shore headquarters. As such, Darwin might be the busiest developer on the north side of Burrard Inlet.
RioCan signs 25 leases with aspiring cannabis retailers: CEO
• Globe and Mail (Subscription required) • RENX
Dozens of aspiring cannabis retailers in Ontario will have a “big decision” to make by the end of April, according to Ed Sonshine, who says RioCan REIT (REI-UN-T) has signed about 25 leases with companies hoping to sell cannabis.
Elad completes Agellan Commercial REIT takeover
• REMI Network • Business Wire • RENX
Elad Group, Ltd., has completed a takeover bid of Agellan Commercial REIT (ACR-UN-T) for more than $400 million. Agellan’s portfolio of 44 properties are distributed throughout 11 high-growth urban markets in the U.S.
New Toronto aerospace hub announced
• Globe and Mail • CBC
Engineers at the University of Toronto are partnering with aircraft manufacturers and academic institutions to build a collective research hub they hope will strengthen Canada’s role as an aerospace leader in an increasingly competitive global market.
The Forks anxious to develop nearby land
The Forks wants to purchase the downtown surface-parking lot known as Parcel 4 from the City of Winnipeg this year as a prelude to the development of the Railside land.
Age, race and the changing face of the urban core
A RENX article a couple of weeks back about the value of Canadian central business district office markets to high-tech companies got me thinking about the demographics of who is now flocking to live and work downtown.
Global governments tackle real estate money-laundering
• Mansion Global • Business Times • Financial Post
Criminals love luxury real estate, and governments around the world are scrambling to find ways to stop them from scooping up addresses. Over the past year, suspects have been accused of purchasing properties including a $22-million mansion in Vancouver.
Three questions with Altus Group’s Ross Litkenhous
VIDEO: The global head of Toronto-headquartered Altus Group’s business development talks proptech innovation, emerging technologies that will have the most impact on CRE and how disintermediation could shake up the industry.
ILPT to acquire industrial portfolios for $905M
Industrial Logistics Properties Trust (ILPT-Q) has entered into two agreements that will expand its holdings by 12.9 million square feet. The REIT will acquire an eight-property portfolio from a third party and purchase 18 assets from Cole Office & Industrial REIT (CCIT II).
Related Cos. JV breaks ground on $1B Gehry project
Construction on The Grand, a $1 billion mixed-use project developed by Related Cos. and CORE USA, and designed by famed architect Frank Gehry, has begun with an official groundbreaking in downtown Los Angeles, highlighting the public-private partnership of the massive development.
Brexit no grounds for EMA to break Canary Wharf lease
In a landmark case for the U.K. real estate sector, the High Court in London ruled today the European Medicines Agency (EMA) cannot use Brexit to justify walking away from its office lease with Canary Wharf Group (CWG).
Hudson Yards a billionaire’s fantasy city
On a day when the cold makes the skyline snap into focus as if you’re seeing it through new lenses, Hudson Yards seems more virtual than real. The five new towers have a high-definition clarity the physical world mostly lacks.
B.C. landowners await payday in Surrey
Fourteen years after the City of Surrey released a land use plan for 1,008 acres and seven years since much of the land was designated for higher-density residential development, land speculators and owners are still waiting for the payoff.
Buyers of presale Scarborough condos in limbo
• Globe and Mail (Subscription required)
Almost 200 buyers of presale condominiums in a Scarborough project still don’t know what will become of their money or the homes they agreed to purchase from Forme Development Group Inc., which filed for creditor protection late last year.
Hameau Saint-Jacques project kicks off Phase 3
Groupe immobilier SMB and its partner Fonds immobilier de solidarité FTQ today announced the start of construction and marketing of phase three of the Hameau Saint-Jacques project in Québec City.
Winnipeg housing complex gets go-ahead
Winnipeg city hall has given the green light to Paragon Design Build’s plans to break ground on a new 104-unit housing complex in the University Heights neighbourhood in the near future.
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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