Real Estate News Exchange (RENX)
c/o Squall Inc.
P.O. Box 1484, Stn. B
Ottawa, Ontario, K1P 5P6

thankyou@renx.ca
Canada: 1-855-569-6300

Maclab building $220M, two-tower Edm. development

3 years ago

Maclab Development Group’s $220-million Garneau project in Edmonton, adjacent to the University of Alberta campus, is being billed as one of the largest private student housing projects to go forward nationally in the past 10 years.

Vancouver-based strata industrial specialist PC Urban Properties Corp. is launching its 10th IntraUrban development, a 160,000-square-foot light industrial hub in Langford in the Victoria metro area. IntraUrban Cornerstone will be built on a vacant seven-acre lot.

 •   •   • 

Groupe MACH and Groupe Petra are on the verge of acquiring BentallGreenOak’s KPMG Tower at 600 De Maisonneuve Blvd. W. in downtown Montreal. The terms of the transaction for the 34-storey, 476-foot-tall office building constructed in 2006 are unknown at this time.

IMAGE: Vasant Jain, founder, Pelion. (Courtesy Pelion)

Founder, Pelion

CMLS

 • 

The builders and designers behind Toronto’s The One condos, Montreal’s New Vic and a Smithsonian museum in Washington are some of the people hoping to fill the gap left by Sidewalk Labs to develop the Quayside lands on Toronto’s waterfront.

 •   • 

Toronto-based developer Camrost Felcorp has proposed a 26-storey condominium building at 91 Raglan Ave. in Toronto’s Humewood-Cedarvale neighbourhood. The Onespace Unlimited-designed building would contain 224 residential units: 66 one bedrooms, 47 two bedrooms and 15 three bedrooms.

 • 

B.C. cleantech firm General Fusion Inc. will hop across Metro Vancouver for its new headquarters later this year as it plans to quadruple its workforce in the coming years. General Fusion will lease a 60,000-square-foot facility at Vancouver International Airport.

 •   • 

Permanent work-from-home arrangements could spark division between front-line employees who have to come to work and others who are given a choice, Canadian Imperial Bank of Commerce (CM-T) CEO Victor Dodig says.

Cogir

 •   • 

T&T Supermarkets continues to expand its Western Canada footprint with the opening of a store in Langley, B.C. – the Asian grocery chain’s first location in that market. The 40,000-square-foot space, located within the Willowbrook Shopping Centre, opens Friday.

 • 

Instacart has invested US$350 million to acquire Caper, an AI-powered shopping cart and checkout technology platform. Instacart says it aims to help retailers unify the in-store and online shopping experience for customers no matter how they choose to shop.

 • 

The Canada Green Building Council (CaGBC) announced its 2021 award winners, with buildings and individuals from Ontario, British Columbia and Alberta taking top honours. The awards recognize leaders transforming Canada’s building sector through CO2 reduction, environmental sustainability and health and wellness.

 • 

A group called the Mohawk Mothers (kanien’kehá:ka kahnistensera) is demanding “the immediate suspension” of McGill University’s expansion plan for Montreal’s old Royal Victoria Hospital site and an investigation into the possibility it could contain unmarked graves of Indigenous children.

Highways 7 & 50

 •   • 

Starlight’s U.S. Multi-Family No. 1 Core Plus Fund (SCPO-UN-X) unitholders have approved the transaction in which a Sherrin U.S. fund will acquire its portfolio of seven class-A  multiresidential U.S. properties totaling 2,219 units. The transaction is valued at approximately $742 million Cdn.

 • 

Slate Asset Management, a global alternative investment platform focused on real estate, announced today the acquisition of a 538,000-square-foot portfolio of 25 essential real estate assets in Norway for approximately $147 million Cdn. The acquisition marks Slate’s first in the Nordics.

 • 

Saks Fifth Avenue’s online sales arm – Saks – is interviewing potential underwriters this week for an initial public offering that could value the company at $6 billion. Saks had earlier spun off from Saks Fifth Avenue’s parent HBC earlier this year.

 •   •   • 

China’s policy tightening on the property sector is weighing on real estate investment with signs of stress seen for some developers, Changyong Rhee, director of the IMF’s Asia and Pacific Department, said on Tuesday.

CRE Beyond 2022

 •   • 

Home Capital Group Inc., (HCG-T) the Canadian mortgage lender bailed out by Warren Buffett’s Berkshire Hathaway Inc. in 2017, may be open to selling the riskier notes from its future residential mortgage-bond offerings.

 •   • 

VIDEO: Phil Soper, CEO of Royal LePage, talks with the Financial Post’s Larysa Harapyn about the real estate market and the revival of small and medium towns in Canada.

 • 

Buyers with $5 million or more to spend in Toronto’s real estate market are not always spared the pressure of competition – particularly if a property looks like a comfortable place to ride out any potential future waves of the pandemic.

 • 

Zillow Group Inc. (Z-Q) shares fell as much as 6.8 per cent in premarket trading Monday after the online real estate firm said it would stop buying new homes and work to clear a backlog of properties it already has.

Industry Events