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Nexus buys, sells, builds as industrial transition continues
Nexus buys, sells, builds as industrial transition continues
Nexus Industrial REIT (NXR-UN-T) is continuing to buy and sell properties to reposition its portfolio, and CEO Kelly Hanczyk expects both transactions and development activity to remain brisk through 2023.
New office lease, tightening industrial sector in Edmonton
The third quarter of 2022 was a good news, not-so-good news story for commercial real estate in the Edmonton region.
Smith Financial to acquire Home Capital for $1.7B
A company controlled by billionaire financier Stephen Smith has reached a deal to acquire alternative mortgage lender Home Capital Group Inc. (HCG-T) for $44 per share in cash, for a purchase price of nearly $1.7 billion.
Hamilton residents saying goodbye to City Centre mall
The end is near for 32-year-old Hamilton City Centre. The mall was sold in 2019 to IN8 Developments which plans to build four residential towers on the site, ranging between 26 and 30 storeys tall, above a nine-storey podium.
Downtown T.O. workers to expand return in Q4: JLL
Another wave of workers are expected to return to downtown Toronto in Q4 as companies encourage their employees to return to the office, according to the Toronto Urban Retail Report by commercial real estate firm JLL.
 | The Saskatchewan Edge Debunking (more) commercial real estate mythsKelly MacsymicBusiness Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate |
Basecamp Resorts buys hotel, to build Canmore nordic spa
Basecamp Resorts has acquired the Holiday Inn on the north side of Canmore. Construction to revamp the 100-room hotel will begin in 2023. The company has 1.5 acres of land next to the hotel to build a nordic spa.
TransLink files request for Coquitlam Central dev.
TransLink has officially filed a Request for Expressions of Interest seeking a team to complete a conceptual Master Development Plan for the large site surrounding Coquitlam Central Station. TransLink has been a champion of “transit-oriented communities” for over a decade.
Residences at Central Park to include 5 buildings
Amexon Development Corp.'s The Residences at Central Park will feature three residential towers and a two-building office component, all designed by CORE Architects. The buildings at 1200 Sheppard Ave. E. will contain 1,478 residential suites.
Calgary's University District creates urban village
James Robertson is CEO and president of the University of Calgary Properties Group, which has transformed an orphan piece of campus land from grassland to award-winning University District in just over a decade without any public funding.
Novi proposes 29-storey residential
Novi Properties has proposed to build a 29-storey residential building at 25 Cedarcroft Blvd. in Toronto's Tower-in-the-Park. The SvN Architects + Planners-designed building would include 259 residential units, 86 per cent of which would be two- or three-bedroom layouts.
PSP Investments refines ESG data, issues $1B green bond
Public Sector Pension Investment Board (PSP Investments), a Crown corporation pension investment manager, released its 2022 Responsible Investment report to unveil its focus on recognizing green assets, improving access to ESG data and adopting a new business model.
Manulife OK'd to take full control of Chinese funds JV
Manulife Financial (MFC-T) has become the first foreign financial firm to receive regulatory approval in China to take full control of a funds joint venture, paving the way for it to expand its presence in the $3.8-trillion market.
Oxford Properties inks lease expansion in D.C.
Allen & Overy LLP has signed a long-term lease renewal and restructure with Oxford Properties Group in Washington, D.C. The Am Law Global 200 firm will expand its footprint at 1101 New York Ave. to a total of 40,914 square feet.
Blackstone files for Nexus Mall REIT IPO at $3B value
Blackstone Inc. filed its preliminary draft prospectus for an initial public offering of its Indian shopping mall portfolio, which is held through its Nexus Malls unit. Blackstone’s retail portfolio in the country could be valued at about $3 billion.
Asia-Pacific CRE deals hit 10-year low
In the July-to-September period, commercial real estate deals across Asia-Pacific fell by about 40 per cent to US$33 billion, the worst quarter since 2012, according to MSCI. Sluggish deal-making is likely to persist well into next year.
Cambridge sees Canada's largest drop in property values
Canada's aggregate MLS Home Price Index fell for an eighth straight month in October. From February to October, property values fell a nation-leading 22% in Cambridge,18% in London and Brantford and 17% In Kitchener-Waterloo, Kawartha Lakes and Hamilton-Burlington.
Lenders let borrowers shift unpaid interest onto principal
At least two of Canada’s largest mortgage lenders – Toronto-Dominion Bank (TD-T) and CIBC (CM-T) – allow borrowers to shift a portion of interest costs onto the principal owed on their mortgages, helping them cope with soaring interest rates.
Victoria builders unfazed by housing market headwinds
Builders in Greater Victoria started 604 new homes in October, well up year-over-year. The region has seen 3,918 new homes started in the first 10 months of the year, up from 3,825 year-over-year.
Vancouver leads Canada in mom-and-pop landlords
Statistics Canada said a nation-leading 11.2 per cent of Vancouver home owners reported income from a rental unit. In 2020, 7.9 per cent of Canadian households overall reported rental income. The data does not include trusts and corporations managing buildings.
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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