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Dream to sell 720 Bay Street T.O. office bldg. for $135M
Dream to sell 720 Bay Street office bldg. for $135M
Dream Office REIT is selling its 11-storey 720 Bay Street office tower in downtown Toronto for $135 million, the trust announced late Monday.
First Capital, Sandpiper, Artis spar over shareholder meeting
UPDATED: Sandpiper Group, Artis REIT and embattled First Capital Real Estate Investment Trust (FCR) appear headed for a court hearing to determine the date of a shareholder meeting to decide FCR's future direction.
PSPIB, AIMCo join forces to capitalize on private credit boom
Alberta Investment Management Corporation (AIMCo) and the Public Sector Pension Investment Board (PSP Investments) have committed to invest in loan transactions sourced by PSP Investments, positioning the organizations for stronger market presence and to grow their credit investment portfolios.
Group files for judicial review over Hamilton urban boundary
Environmental Defence Canada has served Ontario's Ministry of Municipal Affairs and Housing and the City of Hamilton with a notice of application for a judicial review after the province ordered the city to expand its urban boundary by 2,200 hectares.
Sale of troubled Atmosphere project in Richmond put on hold
A bid to sell the troubled Atmosphere project on Alderbridge Way in Richmond has been paused pending efforts to make it a development-ready project for prospective purchasers. The outside closing date for the project has been extended several times.
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Saks Fifth Avenue food hall to close at CF Sherway Gardens
The world’s first Saks Fifth Avenue food hall will be closing this month at CF Sherway Gardens in Toronto, marking the end of a chapter that began in 2016 with Saks entering the Canadian market with two stores in the city.
Food halls emerge as safe bet for restaurant industry
If the years since the onset of the pandemic were supposed to among the hardest for the restaurant industry, someone forgot to tell food halls. Food halls came out of the crisis comparatively unscathed to standalone restaurants.
Zellers gives sneak peek of its comeback
The Zellers department store is returning — a decade after most of its stores were shuttered — in the form of a new e-commerce website and an expansion of its brick-and-mortar legacy within select Hudson’s Bay stores across the country.
Amazon to roll out ‘Buy With Prime’ by end of January
Amazon will roll out a feature by end-January 2023 that allows online merchants outside its platform to use the e-commerce giant’s payment and delivery services, as it takes on rising competition from Shopify.
Univ. of Calgary opens Haskayne School of Business building
The University of Calgary has opened Mathison Hall at the Haskayne School of Business. The four-storey 10,000-square-metre Mathison Hall, attached to the Scurfield Hall building, aims to achieve LEED platinum certification and adds a dozen tech-enhanced classrooms.
ATCO acquires $713M wind, solar portfolio from Suncor
ATCO has bolstered its renewables focus with a $713-million acquisition of Suncor Energy Inc.'s wind and solar portfolio in Alberta and Ontario through its investment in Canadian Utilities Limited and a renewable energy purchase agreement with Microsoft.
Panattoni to develop Seattle-area warehouse
Panattoni Development Co. plans to break ground on a speculative 243,000-square-foot warehouse in Covington, Wash., this April. The company purchased the 20.47-acre site on Dec. 30, for $12.2 million, according to the Puget Sound Business Journal.
Montreal's Magil accused of 'looting' Cameroon
Montreal contractor Magil is abandoning a vast sports project in Cameroon and demanding penalties, after receiving $90 million Cdn for the contract. Cameroon's minister of sports, on the other hand, accuses Magil of having "robbed" the State.
CBRE: Data centre operators strive to catch up with demand
Data centres remained a top-performing real estate asset in 2022, as demand for more digital infrastructure intensified, according to CBRE. Wholesale colocation markets had record levels of absorption, while investment also amped up, with some massive deals closing in 2022.
Amazon plans to shut three warehouses in Britain
Amazon opened a consultation to close three older British warehouses this year in Hemel Hampstead, Doncaster and Gourock, sites employing 1,200 people in one of Amazon’s biggest markets outside the United States.
Tens of thousands of Canadians could default on mortgages
Tens of thousands of Canadians are vulnerable to defaulting on their mortgages as interest rates rise and homeowners struggle with payments. Scotiabank's CEO said about 20,000 of the bank’s borrowers, 2.5 per cent of the bank’s mortgage customers, are impacted.
Bank regulator (OSFI) weighs new rules as housing risks rise
Canada's Superintendent of Financial Institutions said a review of mortgage-underwriting rules that starts later this week will look beyond its current main measure — a stress test requiring borrowers to qualify for higher interest rates than what their banks offer.
Property values in Nova Scotia climb steeply
The value of Nova Scotia properties is rising steeply. Residential values are going up about 20 per cent overall in 2023 and commercial properties are increasing about seven per cent, according to the Property Valuation Services Corp.
Multi-generational home renovation tax credit a good start
The federal government has introduced a tax credit for families to renovate their homes. It provides a 15 per cent tax refund for costs up to $50,000 for a secondary unit.
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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