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Recent Articles

Tricon becomes $10.5B rental housing powerhouse

4 years ago

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Tricon Capital Group president/CEO Gary Berman joined the company in 2002 and has transformed it into a rental housing powerhouse with $10.5 billion of assets under management. Things weren’t always easy, however, as Berman told a large audience in Toronto.

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There’s no competition when it comes to health and safety, and preparedness and communication are vital. These were the key messages from a March 16 BOMA Canada webinar focused on how people and businesses should respond to COVID-19 virus cases.

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SoftBank Group could walk away from a significant part of its multi-billion dollar WeWork bailout program because of probes from the Securities and Exchange Commission and the Justice Department.

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In a bid to ramp up last-mile delivery of “big and bulky” items, Costco Wholesale Corporation (COST-Q) has acquired Innovel Solutions for US$1 billion. Innovel provides delivery and installation on such items as appliances, wine cellars and fitness equipment

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Last September, Airbnb told its investors, employees, and the world it would begin to trade publicly in 2020, with the company widely expected to pursue a direct listing instead of a traditional IPO. Since then, the company’s persistent deficits have continued.

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NorthWest Healthcare Properties REIT (NWH-UN-T) CEO Paul Dalla Lana Tuesday announced “we continue to execute on our deleveraging strategy by generating up to $380 million of liquidity through strategic asset sales into our joint venture platforms by the end of Q2 2020.”

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How do you connect a heritage hotel to its past while also giving guests a playful, contemporary experience? That was Pacific Reach‘s challenge in restoring a century-old hotel on Vancouver’s Granville Street to its historic identity as Hotel Belmont.

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Ford and General Motors are confirming they will temporarily close all of their North American factories due to the coronavirus threat. Fiat Chrysler will do the same, according to two people briefed on the matter Wednesday.

Romspen Commercial Lender

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Canadian Western Bank clients may benefit from flexible solutions on their commercial credit facilities, such as skip payments, interest only payments or an extended amortization, as appropriate to the individual situation.

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The unprecedented stock market sell-off underway has many Canadians wondering if the time hasn’t come to shut down stock markets entirely for a while, in order to give everyone a breather while the world economy deals with the coronavirus.

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CEO Brian Hannasch says Alimentation Couche-Tard’s (ATD-B-T) experience adjusting to hurricanes and floods positions it well to meet the challenges from COVID-19. Communities rely on its Circle K stores for fuel, emergency items and staples, Hannasch told analysts Wednesday.

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Edmonton’s Vivid Print has closed its brick-and-mortar store at least until March 28. “After 13 years, if this is what kills us off, so be it,” co-owner Mark Wilson said. “You have to take stock of what really matters.”

Centurion REIT

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Simon (SPG-N) announced that in recognition of the need to address the spread of COVID-19 it will close all of its retail properties, including malls, premium outlets and mills in the U.S. This measure will end on March 29.

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As governments and health officials press to develop a vaccine for COVID-19, here are some wellness considerations that building owners and developers should keep in mind when designing or renovating office buildings:

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The U.S. convention industry is expected to lose billions of dollars in revenue, as businesses restrict employee travel and governments ban large gatherings in the face of the coronavirus, according to the Center for Exhibition Industry Research.

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Brookfield Renewable Partners, Brookfield Asset Management’s (BAM-A-T) flagship listed renewable power business, is merging with TerraForm Power, to create a $50 billion US platform, by acquiring the remaining 38 per cent stake it does not already own.

Informa - 2020 Events

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Uncharted territory. That’s how long-time Calgary realtor Len Wong responded when asked how the city’s real estate industry is going to get through the tumult caused by the COVID-19 pandemic. “Everybody is still in shell-shock mode,” he said.

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Gabrielle Peters lives in a 23-storey apartment building and uses an elevator to get to and from her apartment. In recent weeks, she has tried to ensure she is alone for the ride.

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Asked how the federal government is working to help those who may not be able to pay rent on time due to COVID-19, Finance Minister Bill Morneau said the newly announced Emergency Care Benefit would provide funds.

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According to the latest report from Yardi Matrix, the U.S. multifamily industry may feel the impact of the domestic spread of COVID-19, although the majority of the rental housing industry remains well-capitalized and strong enough to weather a modest slowdown.

Industry Events

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