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Recent Articles

Timbercreek Global RE Securities passes $2B mark

4 years ago

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Having a plan with a clear focus and sticking to it continues to pay off for Timbercreek Asset Management’s decade-old Global Real Estate Securities business, which has surpassed $2 billion in assets under management.

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The entry of New York City-based co-working company WeWork helped drive down the downtown Calgary office vacancy rate in the first half of 2019. According to Avison Young, the vacancy rate was 24.4 per cent in Q2 2019, down from 25.3 in Q1.

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Canada is punching well above its weight in terms of the country’s overall intensity of new office construction compared to developers in the United States, according to a new Spark Report by Colliers International.

RENX   •   • 

Crown Realty Partners and Plaza Partners have partnered to acquire an office and retail property in Mississauga with potential for 1.5 million square feet of redevelopment. The firms have closed on 30 Eglinton Ave. W., at Hurontario Street.

Community Trust

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Collaboration is key for an innovative energy-efficiency standard that’s made British Columbia the first North American jurisdiction to create a regulated pathway to net-zero energy-ready buildings, says a new report Lessons From the B.C. Energy Step Code.

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A director of a Vancouver-based charity says it has made a “fair market value” offer for two notorious hotels on the city’s Downtown Eastside, saying it wants to repair the rundown buildings and operate them as low-cost rental housing.

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New research by Avison Young indicates commercial asset investment levels in the North Shore, B.C., declined to their lowest levels in a decade, despite ongoing development and construction activity. Commercial sales plummeted from $258 million in 2017 to $87 million in 2018.

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Alberta’s top court has rejected an appeal from a developer who wants to build a controversial RV park. Paradise Shores, owned by Calgarian David Hamm, argued the Stettler County development appeal board had made several errors or overstepped its jurisdiction.

Stewart Title

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The pea-protein craze has led to Manitoba landing its second pea processing facility, a $65-million plant near Winnipeg. The Burcon NutraScience Corp. (BU-T) is planning to open a 20,000-ton processing facility in mid-2020, according to CEO Johann Tergesen.

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An application submitted to the City of Toronto seeks rezoning to permit a pair of connected mid-rise hotel towers in the Fashion District. The proposal from Manga Hotels calls for 15- and 17-storey Sweeny & Co Architects-designed buildings with 375 hotel rooms.

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The new-look Stanley A. Milner library in downtown Edmonton has folks buzzing about its unique design. In a barrage of tweets, people compared the remodelled library to a tank, a cruise ship, a shipping container, or even a bomb shelter.

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Killam Apartment REIT (KMP-UN-T) and Northview Apartment REIT (NVU-UN–T) are two REITs that pay dividends, allowing investors to generate passive income for years. Killam is a good investment choice because the REIT is growth-oriented.

Centurion REIT

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Just weeks after Vancouver-headquartered Onni Group acquired a Los Angeles office campus for $630 million US, the firm purchased Ocean Plaza, a mixed-use office and retail complex in nearby Orange County, Calif., from Decron Properties for $97.3 million.

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The best and brightest U.S. mall REITs are being more selective in who they sign on. Simon Property Group (SPG-N) is a $75-billion enterprise value mall REIT that has generated very steady earnings and dividend growth since the last recession.

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The frenzied bidding for a portfolio of luxury hotel properties owned by Anbang Insurance Group shows just how eager investors still are to put their money into full-service, luxury hotels in the U.S. — and the bigger the deal, the better.

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New York City’s rent-stabilization law is under attack after a group of real-estate trade groups and landlords sued to overturn regulations covering more than one million apartments. The law that limits rent increases violates the U.S. Constitution, the suit claims.

BOMA

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Halifax Regional Council unanimously endorsed two development projects on the same block Tuesday. They are the final projects councillors will deal with before voting on new development rules for the Halifax peninsula and parts of Dartmouth under the Centre Plan.

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After a record-breaking 2018, the new condo market is taking a healthy break in downtown Montreal. The action immediately moved to the South Shore and Laval, according to the Altus Group condominium market analysis.

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While Toronto needs way more housing in the coming decades, it also has 10s of thousands of garages that may become redundant as private vehicle ownership becomes less necessary.

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Toronto City Council approved its “tenants first implementation plan” on Tuesday, which the city says will improve living conditions for people in community housing. Mayor John Tory called the plan a “rethink” of the city’s housing network.

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