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Darin Rayburn steps aside after 19 years with Melcor
Darin Rayburn steps aside after 19 years with Melcor
Real estate has been a passion for Darin Rayburn from the moment he accepted his first industry job three decades ago. As he exits his roles with Melcor Developments and REIT, Rayburn intends to remain involved in his ‘retirement’ years.
Private credit replacing fixed income for investors: Flatt
• Globe and Mail (Sub. required) • Toronto Star
Private credit is the new fixed income for institutional investors, according to CEO Bruce Flatt, who says Brookfield Asset Management (BAM-A-T) will build its lending business as part of its goal to double in size over the next five years.
CF, IMCO, Lincoln grow U.S. multires fund to $1.8B
Cadillac Fairview and co-sponsor Lincoln Property Company have grown their U.S. multifamily fund from $800 million to $1.8 billion in equity. Lincoln Residential, Cadillac Fairview and the Investment Management Corporation of Ontario (IMCO) contributed to the $1-billion expansion.
Altus pays $249.5M to acquire AI data platform Reonomy
Altus Group (AIF-T) says it has an agreement to expand its data offerings and client base by acquiring U.S.-based Scryver Inc., the company behind the AI-powered Reonomy platform, for $249.5 million.
Collecdev proposes four-building mixed-use complex
• blogTO
Collecdev hopes to redefine Toronto’s 2450 Victoria Park site with futuristic mixed-use gh3-designed buildings of 28, 24, 20 and 11 storeys, respectively. In all, there would be 925 condo units, 104 rentals and more than 5,000 square feet of office space.
Dream, Great Gulf propose five-building mixed-use
Dream Unlimited and Great Gulf have proposed a five-building mixed-use redevelopment at 351-369 Lake Shore Blvd. E. in Toronto’s Lower Don Lands area. The Schmidt Hammer Lassen-designed complex would include buildings of 42 and 49 storeys.
Edmontonians slowly returning to the office: AY
• Global News • CTV
A new report from Avison Young shows Edmontonians appear ready to return to the office after nearly two years of the COVID-19 pandemic. Its third-quarter 2021 office market report found 35 per cent of the pre-pandemic workforce is returning to the office.
Retailers reduce holiday sales amid supply chain woes
• Globe and Mail (Sub. required) • Financial Post
Shoppers can still expect to see the usual Black Friday and Cyber Monday sales – which have been creeping earlier in the season for years – but some retailers have been signalling the sales will not be the same this year.
Pot shops have taken over Toronto’s empty storefronts
• Financial Post • CBC • London Free Press
High street has taken on a new meaning in Toronto, where pot shops are filling up storefronts other retailers left behind. Now, the problem may be oversupply. Just over 320 cannabis dispensaries have opened in Toronto since January 2020, says Colliers International.
Filling storefronts can renew downtown Calgary
• Globe and Mail (Sub. required)
In August, CREB reported a vacancy rate of 16 per cent for retail storefronts in downtown Calgary. “We’re worried about having these dead areas,” says Thom Mahler, manager of urban initiatives at the City of Calgary.
REOC third-quarter financial results
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Brookfield Asset Management, (BAM-A-T), Globe Newswire
Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire
Firm Capital Property Trust, (FCD-UN-X), Globe Newswire
Invesque Inc., (IVQ-U-T), Canada Newswire
Melcor Developments Ltd., (MRD-T), Globe Newswire
Park Lawn Corp., (PLC-T), Canada Newswire
Sienna Senior Living Inc., (SIA-T), Globe Newswire
REIT third-quarter financial results
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Automotive Properties REIT, (APR-UN-T), Canada Newswire
Boardwalk REIT, (BEI-UN-T), Canada Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire
Increase in fraud hits retail industry in Canada
The LexisNexis Risk Solutions True Cost Of Fraud Study for Ecommerce and Retail 2021 U.S. & Canada Edition notes the increased digitization of retail operations and escalating numbers of digital transactions have increased retailers’ vulnerabilities to cyber fraud and associated costs.
Flagship acquires U.S. MHCs for $56.8M
Flagship Communities REIT (MHC-U-T) has waived conditions on the acquisitions of three manufactured housing communities in Lexington, Ky., Bryant, Ark., and Bald Knob, Ark., from two separate groups. They comprise 957 lots, for an aggregate purchase price of approximately US$56.8 million.
Parkland acquires Lynch Oil’s U.S. assets
Calgary-based Parkland Corporation (PKI-T) has entered into an agreement to acquire substantially all of the Pacific Northwest assets of Lynch Oil, including five large-format convenience stores and forecourts, two travel centres, two stand-alone car washes and a rail storage terminal.
Evergrande avoids default for third time in a month
Cash-strapped developer China Evergrande Group once again averted a destabilizing default with a last-minute bond payment but the reprieve did little to alleviate strains in the country’s wider property sector.
Soaring housing market has led to ‘shelter inflation’
• National Post • Globe and Mail (Sub. required)
Canada’s rate of housing prices increase is far more than any other developed market in the world and has given rise to a new economic term to describe the market: ‘shelter inflation.’
B.C. property transfer fees skyrocketing
• CTV • Globe and Mail (Sub. required)
The property transfer fees to change ownership on B.C. titles are going up 600 per cent because Canadian legal software company Dye and Durham is cornering the market on the conveyance software, and buying up competitors comes with a price.
B.C. vowed to shine a light on dirty money in real estate
EDITORIAL: In its 2018 budget, the New Democratic government promised to shine a light on hidden ownership of housing in Metro Vancouver, but 2½ years later, B.C.’s Land Owner Transparency Registry is still not fully up and running.
GTA cities pay lowest property taxes in Ontario
• CTV • Daily Hive
A new report from Zoocasa notes the five Ontario cities with the lowest property tax rates in 2021 were all located within the GTA. Toronto had the lowest property tax rate in 2021 at 0.61 per cent, followed by Markham at 0.63 per cent.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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