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Recent Articles

Nicola, Coromandel JV on multi-tower Van. apts.

2 years ago

RENX   •   • 

Nicola Wealth Real Estate (NWRE) and Coromandel Properties are partnering to build two purpose-built rental apartment properties in Vancouver’s Oakridge area. Coromandel assembled and acquired the two sites a number of years ago before NWRE became involved.

RENX   •   • 

A portfolio including eight properties in the Greater Toronto, Hamilton and Niagara areas is up for sale by CBRE and Colliers, on behalf of KSV Restructuring, the court-appointed receiver and manager of Go-To Developments Holdings.

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Loblaw Companies Limited (L-T) today announced its wholly owned subsidiary Shoppers Drug Mart has agreed to acquire Lifemark Health Group for aggregate cash consideration of $845 million. Lifemark, Canada’s largest physiotherapy company, has more than 300 clinics across the country.

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One of the world’s largest booze companies is betting big on Canadian whisky. Diageo PLC announced it’s building a new, $245-million distillery and warehouse on a 44-acre site in St. Clair Township, Ont., to keep up with growing demand.

CMLS

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Developer Landrex and Fort McKay First Nation will be 50/50 partners on a $176-million Urban Village on a 12.85-acre parcel of land in the City of St. Albert. It will be one of the largest First Nation developments in Greater Edmonton.

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A parcel of land of Saanich with plenty of development potential has been acquired for just under $20 million by an unidentified buyer. CBRE Victoria’s Ross Marshall said Saanich is pushing for the area to become the heart of the municipality.

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Phase 3 public consultations for two major Burnaby village developments will be in the near future after council endorsed both the Lochdale Urban Village Community Plan and the Bainbridge Urban Village Community Plan.

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Lash Group of Companies has proposed a 39-storey residential building at 1021 Markham Rd. in Scarborough for the next phase of the ME Living condo development. The seventh building in the Turner Fleischer Architects-designed project would include 380 condo units.

Cogir

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The condo board at No. 1 River Landing is suing Toronto developer Urban Capital for alleged “defects and deficiencies” in the $55-million tower on the Saskatoon riverbank. The 120 units in the tower at No. 1 River Landing sold out within hours.

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The National Capital Commission says it has appealed Ottawa city council’s decision to reject rezoning land in the Mechanicsville neighbourhood for a new diplomatic precinct west of downtown.

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Sheila Botting, Avison Young’s president of professional services for the Americas, says the workplace is likely to continue evolving post-pandemic. “Most employees will say, ‘I want flexibility in my work so I can go work with any company I want.’”

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Firm Capital Property Trust, (FCD-UN-X), Globe Newswire
Skyline Investments, (SKLN-TA), Globe Newswire 

Apex Business Park

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Manhattan apartment rents soared to an all-time record last month. Tenants paid a median of $3,630 in February, the most for any month in more than a decade of data-keeping and up 28% from a year earlier, according to a report Thursday.

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Shares of Amazon.com Inc. (AMZN-Q) jumped over five per cent after the e-commerce giant’s share split and buyback moves stand to draw more investors to a stock whose recent performance has been lacklustre despite skyrocketing since going public 25 years ago.

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U.S. consumer prices surged in February, culminating in the largest annual increase in 40 years and inflation is poised to accelerate further in the months ahead as Russia’s war against Ukraine drives up the costs of crude oil and other commodities.

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An unidentified executive at a Russian state-owned energy company is struggling to sell Plantation Place South at 60 Great Tower Street, a City of London office building that’s valued at about 170 million pounds ($282 million Cdn), according to sources.

Procore

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Boardwalk REIT, CAPREIT, Hazelview Properties, Homestead, InterRent REIT, Minto Apartment REIT and Starlight Investments are working together to offer sympathy and support for the people of Ukraine. The group is committed to providing approximately 400 apartments with various relief packages.

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Ourboro, a Toronto-based company dedicated to providing access to homeownership through co-ownership, saw the number of Greater Toronto Area applicants increase 276% quarter-over-quarter in Q1 2022. First-time homebuyers must have a partner to co-invest up to $250K of the down payment.

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Luxurious multi-level basements are being dug in Toronto neighbourhoods such as Hoggs Hollow and Forest Hill, featuring amenities such as a seven-car underground parking garage, a basement golf simulator, and a subterranean swimming pool, theatre and wine cellar.

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A 43 per cent rent increase notice delivered to a group of Fredericton tenants in January has been struck down by the New Brunswick Residential Tenancies Tribunal. However, the ruling applies only to those tenants who asked for a review.

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