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Enwave expands Toronto thermal energy system to The Well
Enwave expands Toronto thermal energy system to The Well
Enwave Energy Corporation has teamed with Allied Properties REIT and RioCan REIT to build a thermal energy storage facility under The Well mixed-use development in Toronto’s downtown west. “We have a number of unique types of deals with this thermal battery concept, but this is first one we’ve done in Toronto,” said Enwave East Region president and CEO Carlyle Coutinho.
SmartCentres, Goldhar, Revera JV to build retirement homes
SmartCentres Real Estate Investment Trust, Mitchell Goldhar’s Penguin Group of Companies, and retirement residence owner and manager Revera Inc., have launched a joint venture to develop new seniors living residences across Canada. The three companies said Monday afternoon in a release they have already selected three SmartCentres properties and another property owned by Penguin, all in the Greater Toronto area, to kick off the partnership.
Ex-CEO Dallaire resigns as chair of Cominar REIT board
The transformation of Cominar REIT continued Monday. The trust, in the midst of a major selloff of assets valued at up to $2.6 billion, announced Michel Dallaire has resigned as chairman of its board of trustees, and as trustee. In a release announcing the departure, Cominar said Dallaire is leaving “in order to devote his time and energy on future development projects of the Groupe Dallaire in Québec City.” Dallaire had also served as the trust’s CEO until January 1, when Sylvain Cossette took over.
Calgary’s ReDev expands into commercial construction
Canadian commercial real estate owner and manager ReDev Properties has launched a new commercial construction division as the company positions itself for future growth. Richard Crenian, founder and president, said its first project is new construction at Jacksonport Retail, on a three-acre site near the Calgary International Airport.
Vancouver municipalities adopt B.C. Energy Step Code
The District of West Vancouver has joined with its North Shore neighbours in the adoption of British Columbia’s new Energy Step Code. West Vancouver council last week approved implementation of the step code, aligning itself with the City of North Vancouver and the District of North Vancouver.
Six months ago: C & W buys 20 VIC, expands services in Canada
Cushman & Wakefield’s acquisition of 20 VIC Management puts the company in the asset services and property management business for the first time in Canada, says Chuck Scott, CEO of Cushman & Wakefield Canada. “The asset services business is something that we in Cushman & Wakefield are in in most other geographies around the world, but until now haven’t been in it in Canada,” Scott says.
One year ago: Long courtship ends with Edgefront-Noble merger
It was appropriate Edgefront REIT and Nobel REIT announced their intended merger on February 14, a spot on the calendar better known as Valentine’s Day. Pending shareholder approval, the two trusts will merge to create Nexus REIT.
| Property Biz Canada, Tuesday, Feb. 6, 2018 |
| Vancouver industrial land shortage spurs price spike Property Biz Canada, Feb. 6, 2018 |
| Dundee Kilmer builds new condos in Toronto Canary District Property Biz Canada, Feb. 6, 2018 |
| R2 makes strides as online property investor marketplace Property Biz Canada, Feb. 6, 2018 |
| Bazinga, Tribe use tech to link condo residents, managers Property Biz Canada, Feb. 6, 2018 |
| GWLRA’s Finkbeiner: EverWest deal ‘logical’ move into U.S. Property Biz Canada, Feb. 6, 2018 |
| Colliers, Techstars launch CRE tech accelerator Property Biz Canada, Feb. 6, 2018 |
| Six months ago: Allied, Westbank JV on Vancouver office tower: Emory Property Biz Canada, Feb. 6, 2018 |
| One year ago: Lowest return for IPD index in decades, REALPAC / MSCI Property Biz Canada, Feb. 6, 2018 |
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