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Recent Articles

Triovest acquires industrial land in Markham, Pickering

2 years ago

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Triovest and its partners have made two industrial development land acquisitions in the Greater Toronto Area and anticipate closing on additional properties by early January.

RENX   •   • 

CPP Investments will take a 95 per cent stake in a $1.4 billion joint venture with Chicago-based Bridge Industrial to develop industrial properties in core U.S. cities. They will focus on developing industrial assets for long-term ownership.

RENX   •   • 

Commercial real estate investor sentiment has improved significantly over the past year, particularly over the past six months. As a result, Canada remains on track for a record year in investment volume.

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Former Sturgeon County land will become part of the City of St. Albert on Jan. 1. St. Albert, just north of Edmonton, seeks to develop the newly annexed 3,850 acres in accordance with the Edmonton Metropolitan Region Board’s growth plan.

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Like the flurry of new buildings reshaping Eglinton in advance of Toronto’s Crosstown LRT, the upcoming Yonge North subway extension could eventually be surrounded by a new skyline that would replace vast seas of big-box retail and surrounding surface parking.

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Rendition Developments has submitted a development permit application for a four-storey light industrial and office building in Mount Pleasant. The floor plate of each level of the FRANCL Architecture-designed building would be approximately 10,000 – 12,000 square feet.

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Lamb Development Corporation submitted a Zoning By-law Amendment application to redevelop an assembly of lots at 39 Camden St. in Toronto’s Fashion District. Lamb proposes an architects—Alliance-designed 16-storey mixed-use condominium with 154 units and 3,918 square feet of commercial space.

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Toronto-based Forum Equity Partners has launched a $125-million Real Estate Income and Impact Fund which will be used to acquire a $240-million seed portfolio of residential rental real estate across Canada.

CMLS

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These remain uncertain times in Canada with rising concerns of a new pandemic variant. With this in mind, Canadian Grocer reached out to a handful of grocery industry leaders and asked them to share their outlooks for the year ahead.

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Halifax’s tech workforce has steadily grown by 24 per cent in the last five years, according to CBRE’s 2021 Scoring Tech Talent report. It ranked the city seventh on a list of 25 emerging tech markets in Canada and the U.S.

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Before he launched Spark RE Technologies, a real estate software firm based in Vancouver, Simeon Garratt couldn’t have lived a more different life. Spark, launched by Garratt in 2012 after he moved to Vancouver from China, now caters to developers in 80 cities.

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Allied Hotel Properties Inc. (AHP-X) announced the completion of the statutory plan of arrangement with Allied Holdings Ltd pursuant to Part 9, Division 5 of the Business Corporations Act in which the company has redeemed all its issued and outstanding shares.

Payquad

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Rivian Automotive, a budding rival of Tesla, is launching the largest economic development project in Georgia’s history with a $5 billion electric vehicle assembly plant on nearly 2,000 acres an hour east of downtown Atlanta.

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Alimentation Couche-Tard Inc. (ATD-A-T)  announced today an agreement with Pic Quik under which it has acquired 19 convenience stores and 2 non-operating properties across the state of New Mexico. The assets are owned and operated by Pic Quik.

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Blackstone is in advanced talks to acquire a residential tower in downtown Manhattan from Brookfield Asset Management and Nuveen for $930 million. It’s also nearing the purchase of a 49% stake in One Manhattan West, a trophy office building developed by Brookfield.

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The richest bosses behind China’s property firms have lost more than $46 billion combined this year, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people. Evergrande Group founder Hui Ka Yan’s wealth alone has plunged by $17.2 billion.

Colliers International

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The Canadian government has the capacity to make housing more affordable and must act now, Canadian Imperial Bank of Commerce chief executive officer Victor Dodig said.

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The year isn’t over yet, but housing sales in Canada have already surpassed the total sales registered in 2020, once again proving forecasts of a housing bust to be grossly overstated, if not outright wrong.

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The bad dream that is COVID-19 has muddied the mortgage rate outlook again. As Omicron threatens Canada’s recovery, many with variable-rate mortgages now expect – and hope – the Bank of Canada will keep rates lower for longer.

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Ledn, a Toronto-based fintech company offering bitcoin-backed loans to crypto-friendly investors, announced it has raised $70 million to launch a bitcoin-backed mortgage product, which Ledn claims is the first such product in Canada.

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