Montreal’s Carbonleo lays out Royalmount mega-project

Montreal’s Carbonleo lays out Royalmount mega-project

Carbonleo’s massive Royalmount mixed-use mega-project, which it plans to build at the busy intersection of Highways 15 and 40 in the heart of Montreal, will include 3.6 million square feet of commercial space. Built on an 85-acre site, the project will also feature nearly 200 stores, 1.5 million square feet of office space, five hotels, a public square and a number of entertainment choices. It will attract an estimated 30 million visitors a year.

Read more

Choice Properties to acquire CREIT in $6B transaction

UPDATED WITH QUOTES, BACKGROUND: Choice Properties will create Canada’s largest REIT by acquiring Canadian Real Estate Investment Trust in a transaction worth about $6 billion. When the deal closes, Choice will have an enterprise value of more than $15 billion. The trust, controlled largely by Loblaw Companies Limited, George Weston Limited and the Weston family, will hold a portfolio of 752 properties with 69 million square feet of gross leasable area.

Read more

Choice Properties outlines successful fiscal 2017

Choice Properties Real Estate Investment Trust saw its rental revenue rise by 5.9 per cent while recording net income of $405.3 million in 2017 — compared to a net loss of $223.1 million a year earlier . Its portfolio spans approximately 44.1 million square feet of gross leasable area (GLA) and consists of 546 properties, primarily focused on Loblaws supermarket-anchored shopping centres and stand-alone supermarkets, valued at $9.55 billion.

Read more

Vancouver’s newest office tower breaks ground

The first major office building scheduled to be completed in the next wave of commercial development in downtown Vancouver officially broke ground on Wednesday. The Offices at Burrard Place, by Reliance Properties, will open in early 2020 and will be 13 storeys in height, comprising 150,000 square feet.

Read more

Huw Thomas stepping down as SmartCentres CEO

Huw Thomas will step down as CEO of SmartCentres REIT in June at the end of his five-year contact, the trust announced Wednesday. The announcement was made as SmartCentres released its year-end earnings report. A release says Thomas will be replaced by Peter Forde, the trust’s current president and COO. However, the structure at the top of the trust will change. Mitchell Goldhar, the trust’s current non-executive chairman and largest shareholder, will become executive chairman.

Read more

Speculative foreign real estate buying: Chronic issue or red herring?

In this column a couple of years ago, I asked the question “are we at risk of becoming tenants in our own country?” Some would have us think so, at least in overheated urban real estate markets like Toronto and Vancouver, but I still find more questions than answers whenever I dive into this increasingly complicated subject.

Read more

Six months ago: JLL bases property management group in Calgary

Commercial real estate firm JLL has launched a new Property Management Services group in Canada which it says will be a key in the company’s expansion efforts across the country. The initiative will be led by Ron Fiell based in the JLL Calgary office with practice leads in several cities/regions, providing service with local expertise backed by global real estate knowledge, said the company.

Property Biz Canada

One year ago: Dream’s Saskatchewan projects becoming a reality

While Dream Office REIT 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.

Property Biz Canada

	RENX has surpassed 10,385 Twitter followers
	Recent follower R2Investments is a Canadian real estate investment platform for both debt and equity placements.
	Follow RENXca, the most comprehensive news feed on Twitter for Canadian real estate professionals.