Alate names seasoned CRE execs to proptech advisory board

RENX  Commercial  •  Technology, Investment  •  National

Toronto-based Alate Partners has recruited a diverse, nine-member board of seasoned real estate executives to help find and scale promising proptech companies. Alate launched in 2018 through a partnership between Relay Ventures, Dream Unlimited (DRM-T) and Dream Office REIT  (D-UN-T).

Brookfield builds $2B office tower without committed tenant

Commercial  •  The Real Deal

Brookfield Properties (BPY-UN-T) is moving forward on its $2-billion Hudson Yards office tower without a firm commitment from an office tenant. Brookfield and Qatari Investment Authority are betting tenants will lease up most of the spire before completion in 2022.

Ivanhoé Cambridge partners with Oxford to own IDI Logistics

RENX  Commercial  •  Industrial  •  International

Ivanhoé Cambridge and Oxford Properties have created a 50-50 joint venture to invest in recently acquired U.S. company IDI Logistics. IDI has been valued in excess of Cdn$4 billion. Ivanhoé had acquired IDI from Brookfield in a deal completed Nov. 30.

Infrastructure bank mulling more than a dozen projects

Commercial  •  Winnipeg Free Press  •  Winnipeg Free Press

The federal agency built to find new ways to pay for new Canadian infrastructure says it is deep in talks on more than a dozen projects. Officials with the Canada Infrastructure Bank had more than 120 meetings about 60-plus projects.

Vancouver office vacancy rate lowest since 2008

Commercial  •  Western Investor

Winnipeg plagued by shortage of industrial land

Commercial  •  CBC

Industrial development is booming just outside Winnipeg’s borders because the city doesn’t have enough serviced land or any strategy to make that land available, according to a stark new report that states the Manitoba capital has “no clear vision.”

Four Seasons to open Montreal hotel in 2019

Commercial  •  Canada Newswire

Four Seasons Hotel and Private Residences Montreal will be one of nine new Four Seasons Hotels and Resorts properties to open in 2019. The company’s fourth Canadian property will be connected to the new Holt Renfrew Ogilvy.

90,000-square-foot Mila AI institute opens in Montreal

Commercial  •  Montreal Gazette

The transformation of an old garment district in Rosemont–La Petite-Patrie into Montreal’s artificial intelligence hub took another step forward on Monday with the inauguration of the Montreal Institute for Learning Algorithms’ new headquarters.

Calgary committee to work on potential arena deal

Commercial  •  Calgary Herald

A city committee will begin drawing up terms for a potential deal with the Calgary Flames for a new NHL arena after council endorsed a road map for further work on the project.

Shopify to open TV/film production house

Commercial  •  Ottawa Business Journal

Shopify (SHOP-T) is launching a TV and film content development and production house. The Ottawa-based e-commerce company says the venture will be called Shopify Studios and will involve developing, producing and financing projects for both streaming platforms and traditional networks.

Sobeys to open B.C.’s first 10 FreshCo locations

Commercial  •  Daily Hive

Sobeys (EMP-A-T) has announced the first 10 FreshCo locations will be opening in B.C. this year. The brand’s discount grocery store will be replacing now-shuttered Sobeys-owned Safeways in Metro Vancouver and beyond.

Metro looks to expand grocery delivery service

Commercial  •  Financial Post  •  Globe and Mail  •  Canada Newswire

Metro Inc. (MRU-T) is planning to expand its grocery delivery service and modernize a major distribution centre as it battles to protect its position in a rapidly changing grocery landscape, CEO Eric La Flèche said Tuesday.

Chinese companies dumping U.S. real estate

Commercial  •  MarketWatch  •  The Real Deal

Chinese net purchases of U.S. commercial real estate last year dwindled to their lowest level since 2012, as Beijing kept up the pressure on Chinese investors to bring cash home during a period of worsening economic growth.

China RE loan growth slows to 20% in 2018

Commercial  •  Mingtiandi

China’s government reduced growth in real estate loans in to 20 per cent in 2018 as regulators attempt to stave off a potential property bubble by cracking down on illicit lending and vowing to push funding from property into priority areas.

Half of institutional investors to boost RE holdings: Survey

Commercial  •  Benefits Canada

Half of global institutional investors are anticipating an increase in their allocations to real estate over the next two years, according to the Pension Real Estate Association’s 2019 investor intentions survey.

U.K.’s 2019 property development activity slows

Commercial  •  IPE Real Assets

Real estate industry leaders have slowed plans to increase development activity in the U.K., but the long-term outlook is more positive, according to a survey carried out by the British Property Federation (BPF).

Airbnb fights back against call to ‘play by the rules’

Residential  •  CBC

Toronto Coun. Joe Cressy is calling on Airbnb to “play by the rules” set out by the city — but the popular home-sharing website is standing firm. The city’s low vacancy rate requires action, according to Cressy.

Regulatory overkill blamed for negative housing outlook

Residential  •  Business In Vancouver

Economic growth in Canada from residential investments will go negative in 2019, according to the Bank of Canada, which conceded stiff new mortgage regulations, local housing restrictions and rising interest rates have had a more negative impact than expected.

Most of B.C.’s 10 priciest condos in 620-metre stretch

Residential  •  Vancouver Province

In Coal Harbour, West Cordova Street boasts eight of Vancouver’s 10 most expensive condos, by square foot, packed onto a tight stretch of road that is only about 620 metres in length.

New immigrants spending $620,000 more on Vancouver houses

Residential  •  Bloomberg