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Q1 Greater Toronto Area high-rise land sales fall over 50%
Q1 Greater Toronto Area high-rise land sales fall over 50%
High-density GTA land transactions are down over 50 per cent from 2022 according to Bullpen Research & Consulting Inc. and Batory Management’s latest GTA High Rise Land Insights Report. The report's author doesn't expect activity to pick up anytime soon.
LS Properties acquires Winnipeg's Pembina Crossing
Winnipeg-based Shindico Realty Inc. has sold Pembina Crossing, a major mixed-use development in the southwest part of the city, to local investor and manager LS Properties.
Choice Hotels seeking to buy Wyndham: Report
Choice Hotels International is reportedly looking to buy Wyndham Hotels & Resorts, The Wall Street Journal reported, citing sources. A source said if Wyndham isn’t for the merger, Choice could take the option directly to Wyndham’s shareholders.
High yields of office REITs not worth the risk: BMO
The most recent weekly report from BMO Economics included a breakdown of office vacancy rates in major Canadian cities. Economist Sal Guatieri claims office buildings will remain the most depressed commercial real estate segment “for some time.”
Winnipeg staring down a glut of office space
Winnipeg’s overall office vacancy rate rose to 13.1 per cent in Q1 2023 amid fears a glut of space is growing, especially in the older class-B and -C space that makes up 60 per cent of the market vacancies.
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CentreCourt proposes 55-storey mixed-use
Developer CentreCourt has submitted Zoning By-law Amendment and Site Plan Approval applications for a 55-storey mixed-use condominium at 5359 Dundas St. W. in Etobicoke's Six Points area. The Arcadis-designed tower would include 668 residential units and retail space.
Brown Bear proposes 15-storey buildings in Barrie
A public meeting is scheduled for June 14 on Brown Bear Development's plans for two 15-storey residential buildings and a three-storey podium, with ground-floor commercial space, in south Barrie. The buildings would comprise 425 residential units.
Certus proposes commercial dev. in Calgary's Chinatown
Certus Developments has proposed a two-storey, brick-faced structure in Calgary's Chinatown that would provide 4,500 square feet of retail at street level and services on the second floor, leased through Leaseco.
Neighbourly acquires three Ontario pharmacies
Neighbourly Pharmacy Inc. (NBLY-T), Canada's largest and fastest-growing network of independent pharmacies, announced it has entered into a binding agreement to acquire three pharmacies in Ontario from a single seller.
Aecon zeros in on greener construction
Aecon Group Inc.’s (ARE-T) 2022 sustainability report Building a Sustainable Future provides a picture for how the Toronto-based construction company ,behind some of Canada’s most distinctive landmarks, is trying to build and operate in a more green fashion.
Canadian households have worst debt ratio in G7
Canadians have racked up more household debt than any country in the G7 making the country vulnerable to global economic crises, according to a report released Tuesday by the Canada Mortgage and Housing Corporation.
RXR defaults on Manhattan office tower loan
Long Island-based real estate investment firm RXR has defaulted on a $240-million loan for 61 Broadway, a 33-storey, 790,000-square-foot office tower in Manhattan’s Financial District, Green Street's Real Estate Alert reports.
NYC CRE brokers' confidence at all-time low
New York commercial brokers — faced with a complex array of market challenges — are gloomier about their prospects than they have been at any point in the last six years, according to the Real Estate Board’s Real Estate Broker Confidence Index.
NYC's Flatiron Building sold at second auction for $161M
The Flatiron Building, one of New York City’s most iconic skyscrapers, has once again sold at auction — for nearly $30 million less than the winning bid at a failed auction in March.
L.A.’s office distress shows pain coming for cities
From a distance, downtown Los Angeles looks like the Wizard of Oz’s Emerald City, a shimmering skyline with the Hollywood Hills and San Gabriel Mountains forming a picturesque backdrop. Up close, its buildings tell a bleak story of U.S. CRE.
Residential mortgage debt hits $2.08 trillion: CMHC
Canada Mortgage and Housing Corp. reports the country’s total residential mortgage debt was $2.08 trillion as of January 2023, up six per cent year-over-year. However, the rate of growth for mortgage debt slowed compared with recent years.
26% plan to buy investment property before 2028: Royal LePage
According to a Royal LePage survey, 26% of all Canadians plan to buy an investment property before 2028 with 23% who do not own a residential investment property saying they are likely to purchase one in the next five years.
Housing crisis changing people's lives: Desjardins
More than a decade of sky-high housing prices is changing society, according to a new report by Desjardins Group. Terrible housing affordability is forcing adults aged 34 and younger to flee the cities in which they grew up.
Confidence among first-time homebuyers edges up
In a survey from private residential mortgage insurer Sagen, 26 per cent of recent first-time homebuyers said economic conditions have had no impact on their ability to afford their homes, while 52% said they wouldn’t have changed their decision.
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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