Walmart buys outdoor gear seller Moosejaw

Walmart buys outdoor gear seller Moosejaw

Walmart (WMT-N) has purchased Moosejaw for $51 million US, a move aimed squarely at besting Amazon in the apparel and sporting goods categories as the battle heats up. Walmart will now have a presence in a category reeling from consolidation and disruption. Moosejaw is largely an online seller of outdoor gear and activewear, with 10 brick-and-mortar locations.

Forbes

Goodman selectively buying in U.K. for CPPIB

Despite uncertainty surrounding Brexit, Goodman has been actively acquiring industrial sites in prime locations to build up a $1.63 billion Cdn logistics platform in the U.K. Sites are being bought for the Goodman UK Logistics Partnership – a three-way partnership between Canada Pension Plan Investment Board, Goodman and Dutch pension manager APG.

IPE Real Estate

Dream’s numerous Saskatchewan projects becoming a reality

While Dream Office REIT (D.UN-T) has put nine buildings up for sale in Regina and Saskatoon, its parent company is moving forward with several major residential and mixed-use developments in both Saskatchewan cities. “In Saskatchewan, we have roots that go back about 60 years,” said Dream Unlimited Corp. (DRM-T) senior vice-president of land and housing Dan Marinovic.

Property Biz Canada

Sides battle over Milestone takeover

A battle is underway between two competing forces at Milestone Apartments REIT (MST.UN-T) — a contest that will presumably continue until the unit-holder vote on the proposed takeover by Starwood (STWD-N) is held in early March. One force is Milestone’s management and BMO Capital Markets who are meeting with investors this week on a cross Canada tour.

Financial Post

Vancouver can have density without towers: Architect

If Vancouver wants to introduce more density into the city, one architect says it can be done without transforming the city into an endless row of high-rise towers. Michael Geller, an architect and adjunct professor at Simon Fraser University, says building towers has become “a bit of a tradition” in Vancouver, particularly in the West End,

CBC

Vancouver office market awaits Exchange Tower

The vacancy rate in Metro Vancouver’s office market crept down over the second half of 2016, marking a relatively robust demand for work space in both the downtown and suburban markets. In downtown Vancouver, the next major office project to come online will be The Exchange tower by Credit Suisse and SwissReal Group. 

Property Biz Canada

Edmonton’s office vacancy rises with oversupply

Edmonton is facing a serious oversupply of office space and will see vacancies rise to a projected 18.6 per cent by late 2018, warns Cushman & Wakefield. The caution comes as the Alberta capital prepares for the completion of the 66-storey Stantec office tower in 2018. The 29-storey, 130,000-square-foot Edmonton Tower opened in 2016. 

Western Investor

Devencore bullish on Calgary CRE

Agron Miloti, president and broker for the Alberta region of Newmark Knight Frank Devencore, says there has been a renewed interest in the Calgary CRE market, but potential buyers need to spend. “This is not a depressed market and investors who expect to buy for nothing are in for a shock,” he says.

Calgary Herald

Triumph buys Phoenix shopping centres

Triumph Real Estate Investment Fund, a Canadian investment fund based out of Calgary, has purchased two Metro Phoenix shopping centers, Triumph Bell West Ranch and Triumph Glendale Crossing, for a total of $7.01 million US. Triumph Bell West Ranch was purchased for $3,985,000 while Triumph Glendale Crossing was purchased for $3,025,000.

Marketwired

Feds looking for industrial space in Ottawa, Gatineau

The federal government says it’s looking for nearly 60,600 square feet of centrally located warehouse space, a potential move that could lower East Ottawa’s industrial vacancy rate. Public Works published an invitation to landlords Wednesday to submit information about the availability of warehouse space with 24-foot ceilings, 5,000 square feet of office space and 30 parking spaces for a 10-year lease.

Ottawa Business Journal

CAPREIT to purchase Montreal apartment property

Canadian Apartment Properties Real Estate Investment Trust (CAR.UN-T) announced it has waived conditions and will acquire a luxury 256-suite residential apartment property located in the affluent Côte-Saint-Luc neighbourhood in the Greater Montréal Area. The purchase price, to be initially financed in cash from the CAPREIT’s Acquisition and Operating credit facility, is $23.5 million.

Marketwired – Property Biz Canada

Canadian Tire sees strong fourth quarter

Canadian Tire Corp. Ltd. (CTC-T) enjoyed a strong fourth quarter, helped by a strategy of adding more “weather-proof” products to its offerings such as housewares and investing in data analytics to pinpoint when to stock and promote merchandise heavily. It also benefited from bulking up on private brands available only at Canadian Tire.

Globe and Mail – Toronto Star – Financial Post – Motley Fool

Mandate of Caisse CEO extended for two years

Michael Sabia, the president and chief executive officer of the Caisse de dépôt et placement du Québec, has seen his mandate extended for two more years following a decision by the provincial government.  His current mandate is not set to expire until 2019 but the CDPQ announced Wednesday the mandate is now set to continue until March 31, 2021. 

Montreal Gazette

U.S. CRE loans at record-setting levels

According to CBRE, commercial real estate lending volume in the U.S. finished the year on a strong note as loan closings surged in November and December 2016. Despite concerns throughout the year regarding the direction of the global economy, U.S. capital markets remained favourable to borrowers in Q4 2016 due to low relative rates and abundant capital.

World Property Journal – Property Biz Canada – CoStar Group

U.S. adds more hurdles for foreign investors

Foreign investors have both the capital and the desire to continue buying U.S. real estate. The question is whether those forces will be strong enough to offset looming challenges ahead in the form of higher interest rates and a maturing real estate cycle, as well as a shifting geopolitical and regulatory environment. 

National Real Estate Investor

Featured Column

A fairer way to implement property assessments?

Last week, I took part in a stakeholders meeting with Ontario’s Municipal Property Assessment Corp. (MPAC) on how the process of determining, implementing and appealing a property’s assessment might be improved.

Read more

Market Trends and Research

Ottawa eyes more commercial space in Hintonburg

More stores and restaurants, more cycling infrastructure and more patios — all are part of a vision for the future of Armstrong Street. On Tuesday Ottawa’s planning committee accepted a report looking at a street that spans the city’s trendy Hintonburg and Wellington West neighbourhoods

Ottawa Business Journal

U.S. policies will rev up multi-tenant industrial

Whether it’s building the wall along our southern border or bringing manufacturing jobs back to the U.S., multi-tenant industrial buildings are in prime position to take advantage of what’s to come from the Trump administration’s policies, BKM Capital Partners’ director of acquisitions Brett Turner tells GlobeSt.com. 

GlobeSt.com – CoStar Group

Real Estate Companies

Brightenview closes GTH land purchase

The people behind the Global Transportation Hub say they are confident Brightenview Development International Inc., a Saskatoon-based company that has previously struggled to get major projects off the ground, can complete a new facility on 30 acres it bought from the inland port east of Regina. 

Saskatoon StarPhoenix

Phillips Brewing buys heritage building

Phillips Brewing has acquired Victoria’s historic Francis Rattenbury designed brick building which served as the home of Sports Traders until fall 2016. Brewery founder Matt Phillips will be using the former Sports Traders space of about 16,000 square feet as the company’s wholesale distribution centre. The building is assessed at $4 million. Phillips did not disclose the purchase price.

Victoria Times Colonist

Sydney seeking to revitalize downtown

The Cape Breton Regional Municipality is hiring a co-ordinator who will be tasked with revitalizing and restructuring Sydney’s downtown. The area is preparing for some significant adjustments over the next few years, including changes to parking and roads. 

CBC – Cape Breton Post

Chandos stays busy in challenging times

While ome construction companies in Calgary are having a hard time, Chandos Construction still enjoys a full worksheet. Chris Chornohos, director of business development, reports 2016 was a record year and he’s forecasting 2017 to equal its revenues. Chandos was founded in Edmonton, where its head office is located. It also has offices in Calgary and Red Deer.

Calgary Herald

REOC Financial Reports

Latest reports:

* Boston Pizza Royalties Income Fund, (BPF.UN-T), Marketwired 

REIT Financial Reports

Latest reports:

* Boardwalk REIT, (BEI.UN-T), Canada Newswire 

* Choice Properties REIT, (CHP.UN-T), Canada Newswire 

* Morguard REIT, (MRT.UN-T), Canada Newswire    

* RioCan REIT, (REI.UN-T), Marketwired   

* Smart REIT, (SRU.UN-T), Marketwired

Real Estate Investment Trusts

Summit completes purchase of Calgary industrial

Summit Industrial Income REIT (SMU.UN-T) announced it has completed the acquisition of a 120,690-square-foot light industrial property in Calgary for a purchase price of $17.0 million. The property is 100% occupied by two quality tenants with a weighted average lease term of 7.7 years and is near major rail and highway transportation links. 

Canada Newswire

NorthView awarded Canmore housing project

Canmore council approved the award for the development of housing to NorthView Apartment REIT (NVU.UN-T). Two of the planned buildings will house 70 units each and the eight employee housing units will be in their own separate structure. The REIT will purchase the site from the Town of Canmore for $2.73 million.

Bow Valley Crag & Canyon

Agellan announces bought deal financing

Agellan Commercial Real Estate Investment Trust (ACR.UN-T) announced is has entered into an agreement to sell to a syndicate of underwriters led by RBC Capital Markets and BMO Capital Markets, on a bought deal basis, 4,370,000 units at a price of $11.45 per unit for gross proceeds to the REIT of $50,036,500.

Marketwired

The compelling reason to own these REITs

SmartREIT (SRU.UN-T) represents a fantastic buying opportunity. I aggressively bought Dream Office REIT (D.UN-T) shares approximately a year ago, right before the company cut its generous distribution. My shares are up 35 per cent. Northview Apartments REIT (NVU.UN-T) owns more than 24,000 apartments.

Motley Fool

Blackstone looks to exit through multiple REITs

Private equity giant Blackstone (BX-N) would look to exit its investments in office properties with multiple REITS including the ones floated by itself, said an executive who works closely with the U.S.-based investor. Blackstone is the biggest owner of office properties with properties of over 70 million square feet.

Business Standard

Legal Corner

Judge won’t dismiss Concord Pacific lawsuit

A judge has declined to dismiss a lawsuit filed by Concord Pacific over an alleged agreement to develop some of the former Expo lands in Vancouver. In 1989, Concord Pacific sold a portion of the site known as the Plaza of Nations for $40 million to Hong Leong Oei, a businessman from Singapore.

Vancouver Sun

Retail

Canada Goose files for IPO

Luxury winter jacket maker Canada Goose has filed for initial public offerings on the Toronto and New York stock exchanges under the symbol “GOOS.” The company said in regulatory filings it had revenue of $291 million in fiscal 2016, up from $152 million in 2014, and gross profit of $146 million.

Toronto Star – Bloomberg – The New Yorke

B.C.’s used-goods industry tops soaring high

Many British Columbians are experiencing the second-hand economy first-hand as the industry is now taking in an estimated $1 billion annually, says a report commissioned by Vancity. Eighty-three per cent of those surveyed have bought second-hand goods, representing an estimated $1.05 billion provincewide in annual spending, while 72% have sold goods they had previously used.

Business In Vancouver

Canopy Growth nearly triples revenue

Canada’s largest publicly traded marijuana company says it has had a hard time keeping up with demand as its list of registered medical marijuana patients more than tripled at the end of last year. Canopy Growth Corp. (WEED-T) says about one-third of its customers want moderate to high levels of THC, the psychoactive chemical in marijuana.

Ottawa Business Journal – Financial Post – Toronto Star

EPH Apparel more than just a clothier

Last year, EPH Apparel was ranked the fastest-growing company in Manitoba over the past five years – with a 1,393 per cent growth rate over that time – and the 58th-fastest in the country by Profit Magazine. It just opened a new, much bigger Winnipeg storefront operation in the Antares building  and by the summer will have a second location in Calgary.

Winnipeg Free Press

New Development

Edmonton tower would rest on deep piles

Alldritt Group would spend 10s of millions of dollars to stabilize Edmonton’s river valley slope before even starting to excavate for its 80-storey tower in The Quarters, the architect said Tuesday. “This is a serious project that needs a serious foundation,” architect Brad Kennedy said.

Edmonton Journal

Winnipeg police HQ probe inches closer

A formal request for a public inquiry into business at city hall is one step closer to being in the hands of the provincial government. The motion comes after a series of CBC investigative stories about breach-of-trust allegations against former Winnipeg CAO Phil Sheegl in connection to the new Winnipeg Police Service headquarters.

CBC – Winnipeg Free Press

Infrastructure

Edmonton wants financial commitment for LRT

Edmonton Mayor Don Iveson recruited west-end residents and developers to lobby for stable LRT funding Wednesday. Standing at Lewis Farms Transit Centre, the future west terminus of the Valley Line LRT, Iveson urged the province to make at least a five-year commitment in its spring budget to support more LRT construction in Edmonton. 

Edmonton Journal

Technology

‘Cellphone towers in space’ in plans

Toronto nanosatellite startup Kepler Communications Inc., with its sights set on the telecommunications market, announced it will launch its first satellite from India in November on the same rocket that launched a record number of spacecraft in the country earlier this week.

Financial Post

Altus Group, StFX collaborate on technology

Altus Group Limited (AIF-T), a leading provider of commercial real estate services, software and data solutions, and St. Francis Xavier University announced they have signed a technology collaboration agreement. The agreement provides Altus Group with exclusive worldwide commercialization usage rights of StFX’s vehicle-based Emissions Attribution via Computational Techniques (“ExACT”) gas leak detection technology.

Marketwired

Other