Think Research to anchor The Shift office tower in Toronto

RENX  Commercial  •  Office  •  Toronto / GTA

First Gulf has its anchor tenant for The Shift, a Toronto development that broke ground in November and is aiming for early 2022 completion. Digital healthcare platform provider Think Research will occupy nearly 90,000 square feet of the 24-storey, 462,000-square-foot building.

PCI, TD Greystone building Vancouver tower on spec

Commercial  •  Vancouver Sun

No tenants, no problem for PCI Developments and TD Greystone, the developers of the new office tower going up at 601 West Hastings Street in downtown Vancouver. The 25-storey, 210,000-square-foot tower is expected to be delivered to market in Q3 2021.

Ivanhoé, Oxford plan more growth in industrial, logistics sector

RENX  Commercial  •  Industrial  •  National, International

Ivanhoé Cambridge and Oxford Properties have the same goal: increased ownership of industrial and logistics. In the wake of their $4.7B joint venture to acquire IDI Logistics, both investors say a large future  development pipeline was crucial to the deal.

Molson Coors, Groupe Sélection discussing sale of brewery

Residential, Commercial  •  CBC

Molson Coors has confirmed it is in discussions with Groupe Sélection for the sale of its iconic Montreal brewery. Groupe Sélection, formerly known as Réseau Sélection, is best known for building retirement homes throughout Quebec.

Brookfield raises $15B for third global opportunity fund

Commercial  •  IPE Real Assets  •  Globe Newswire  •  Bloomberg

Brookfield Asset Management (BAM-A-T) has exceeded the initial $10 billion US fundraising target it set for its third global opportunity fund by 50 per cent. With total equity commitments of US$15 billion, BSREP III is Brookfield’s largest private fund to date.

How Choice became Canada’s biggest RE player

Commercial  •  Financial Post  •  RENX

VIDEO: TD Securities executives Steve Dumanski and David Montanera explain why Loblaw spun out Choice Properties REIT (CHP.UN-T).

Apartment buildings: The right way to increase your NOI

Ramona Ursu: Partner and Broker at Baron Realty

Hotel, apartment units proposed for Ottawa tower

Residential, Commercial  •  Ottawa Business Journal

Montreal’s Prince Developments wants to tear down the existing buildings at 207 and 213 Rideau St. in Ottawa and replace them with a 24-storey high-rise that would include 208 hotel rooms and 76 residential units.

Three new hotels planned for Hamilton

Commercial  •  Hamilton Spectator  •  CBC

Three new hotels are in planning for Hamilton that will add 400 new rooms to the suddenly booming city tourism landscape. The first two projects are both planned by Darko Vranich, president and CEO of Vrancor Group.

Saskatoon condo tower gets warm reception at city hall

Residential, Commercial  •  Saskatoon StarPhoenix

A 17-storey condominium tower with office space on the bottom two floors received the stamp of approval at Saskatoon city hall. The project is a joint venture between Saskatoon’s Victory Majors Investment Corporation and Toronto’s Urban Capital Property Group.

Alberta pledges $1.53B for Calgary Green Line LRT

Commercial  •  CBC  •  Calgary Herald

Alberta Premier Rachel Notley has pledged $1.53 billion toward Calgary’s Green Line LRT project, which she calls “the most ambitious LRT project in Calgary’s history.” The Green Line would stretch 46 kilometres across 28 stations.

Controversial Halifax developments clear heritage hurdle

Residential, Commercial  •  CBC  •  CBC

A pair of controversial development proposals for the corner of Spring Garden Road and Robie Street in Halifax has cleared a hurdle. Dexel Developments and developer Peter Rouvalis have each submitted proposals for two towers, ranging from 16 to 30 storeys.

Montreal port traffic sets another record

Commercial  •  Winnipeg Free Press

The free-trade deal between Canada and the European Union continues to boost container shipping, with the Montreal Port Authority citing the fifth straight year of record volumes. The volume moving through Canada’s second-largest port jumped nine per cent in 2018,

U.S. Industrial REIT lands $650M debt deal

Commercial  •  Commercial Observer

A set of four big banks has lent $650 million US to Industrial Logistics Properties Trust (ILPT-Q), secured by a portfolio of assets it owns on the Hawaiian island of Oahu, the landlord announced this week.

Foreign investors charge into China market

Commercial  •  South China Morning Post

China’s commercial real estate investment rose to a record US$44.08 billion in 2018, as the gap left by cash-strapped local investors was closed by overseas investors who jumped on acquisition opportunities, according to real estate service firm Cushman & Wakefield.

U.S. office sector remains strong: Yardi Matrix

Commercial  •  PR Newswire

Data points Yardi Matrix collected on 6.8 billion square feet of office properties in 115 U.S. markets illustrate a healthy sector driven by growth among office-using industries.

Affordability plan approved by Toronto council

Residential  •  Globe and Mail  •  Globe Newswire  •  Globe and Mail (Subscription required)

Toronto city council approved on Wednesday Mayor John Tory’s plan to turn 11 city-owned surplus property sites into affordable housing projects, despite criticism the proposal will not help many of the city’s poorest people.

Soft start to 2019 may delay GTA spring market

Residential  •  Globe and Mail (Subscription required)

GTA homeowners feverishly preparing to list their houses for sale may be able to spend a little more time decluttering. “I think the spring market will be a little later this year,” says ReMax Realtron Realty general manager Cameron Forbes.

Calgary eyes Airbnb regulation

Residential  •  Calgary Herald

Calgary Airbnb operators pocketed $29 million in income last year while providing accommodation for 200,000 guests, the company says, as the city begins to drill down on a future licensing regime to help cash in on the robust revenues.

Buyer’s market in Calgary expected to last past 2019

Residential  •  Global News  •  CTV  •  CBC

A weak job market, slow growth, lack of confidence, high inventory and high interest rates are all reasons the Calgary Real Estate Board (CREB) said will result in a buyer’s market in 2019.