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Dream Alternatives sheds ‘burden’, looks to future
Dream Alternatives sheds ‘burden’, looks to future
Dream Alternatives Trust is finally where it wants to be, ready to focus on its core assets while exploring new acquisition and development opportunities. “We believe that the third quarter of 2017 marks the new beginning for Dream Alternatives, as we can now execute without the burden of certain assets and partnerships that we inherited from the predecessor funds,” said senior manager of investor relations Kim Lefever.
CT REIT buys 7 shopping centres from RioCan
UPDATED: RioCan REIT has begun the selloff of up to $2 billion in properties in secondary Canadian markets, and the first buyer is fellow retail real estate holder CT Real Estate Investment Trust. The companies announced this morning that CT REIT will purchase seven properties, all anchored by Canadian Tire stores, for a purchase price of $200 million.
Ivanhoé Cambridge investing $1B in Montreal
Montreal’s iconic Place Ville Marie (PVM) will receive a $200-million makeover as part of owner and operator Ivanhoé Cambridge’s $1-billion investment in its downtown properties. The Place Ville Marie renovations are the latest in a series of major announcements involving Ivanhoé’s flagship properties in Montreal, in what it calls Projet Nouveau Centre.
BOMA Earth Award winner profile: Nestlé Building
Oxford Properties Group’s Nestlé Building received the Building Owners and Managers Association (BOMA) of Canada Earth Award for light industrial buildings at the BOMEX 2017 conference and exhibition in Toronto in September. “Meeting the criteria for this category was a significant accomplishment, given the age of the building and the 24/7 warehouse operation of the tenant,” said Oxford head of industrial Jeff Miller.
Ottawa firm seeks pilot site for energy-saving technology
Large building owners might soon have a new option to both lower electricity costs and reduce the space required for electrical infrastructure. Power Systems Technology in Ottawa is seeking a location to pilot its latest clean tech power solution, which combines two pieces of the company’s existing technology. The Green Distributed Power System (Green DPS) reduces energy wastage when electrical current is “stepped down”.
Six months ago: Changing of the guard at Concert
Brian McCauley has been the heir apparent to succeed David Podmore as president and CEO at Concert Real Estate Corporation for several years, and he said people shouldn’t expect many changes when he assumes his new title. “I’d like to think that there are opportunities to continue to grow, adapt and modify over time, but I’m fundamentally a huge believer in our core values …” McCauley said.
One year ago: Skyline Commercial REIT buying Cervus portfolio
Skyline Commercial REIT is branching into a new area after agreeing to purchase 11 Western Canadian dealership properties from Cervus Equipment Corporation for $55.7 million. Cervus operates authorized agricultural, construction, materials handling and transportation equipment dealerships.
| Property Biz Canada, Tuesday, November 21, 2017 |
| Regus affiliate Spaces launches in Canada Property Biz Canada, November 21, 2017 |
| Sales brisk, Broccolini set to build luxury Montreal condos Property Biz Canada, November 21, 2017 |
| ICE District leads downtown Montreal revival Property Biz Canada, November 21, 2017 |
| PCI’s Marine Gateway in Vancouver wins ULI award Property Biz Canada, November 21, 2017 |
| Downtown Vancouver office space a ‘landlord’s market’ Property Biz Canada, November 21, 2017 |
| Strong tech infrastructure vital for building owners, managers Property Biz Canada, November 21, 2017 |
| Six months ago: 16 York breaks ground in Toronto’s south core Property Biz Canada, November 21, 2017 |
| One year ago: Anthem, partner make Vancouver land purchase Property Biz Canada, November 21, 2017 |
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