Canadian multires transactions ahead of 2020 pace

RENX  Residential  •  Apartments  •  National

Transaction talk was the focal point of one of the panels at the virtual Canadian Apartment Investment Conference. CBRE’s Marc Hetu reported Canadian multiresidential investment activity was $4.4 billion as of Aug. 20, ahead of the same period in 2020.

Broccolini acquires 57 acres of Mtl. industrial dev. land

RENX  Commercial  •  Industrial, Land  •  Greater Montreal

Montreal-based developer Broccolini Real Estate Group is expanding in a new area of its home city with the acquisition of 57 acres of land along Highway 40 straddling the borough of Anjou and the City of Montreal East.

Bosa to JV on 110K-sq.-ft. Surrey motorcycle plant

Commercial  •  Daily Hive  •  Business Wire  •  Surrey Now-Leader

Damon Motors announced it will build a cleantech manufacturing and R&D plant in Surrey. The state-of-the-art, 110,000-square-foot facility, being developed in partnership with Bosa Properties, will serve as ground zero for production of Damon’s flagship HyperSport.

Victoria industrial market among Canada’s priciest

Commercial  •  Business In Vancouver  •  Victoria Times Colonist

Victoria has one of the smallest commercial real estate footprints among major Canadian cities, but it kicks far above its weight in the metrics that define a market giant, according to a recent national survey by Colliers Canada.

Brookfield CEO Flatt on global real estate outlook

Residential, Commercial  •  Bloomberg

VIDEO: Bruce Flatt, CEO, Brookfield Asset Management (BAM-A-T) speaks with Bloomberg’s Jason Kelly at the Bloomberg Invest Global Summit about the outlook for global real estate and infrastructure.

Canadian hotel industry begins its long road to recovery

Samuel Sahn: Managing Director, Portfolio Management, Hazelview Investments

Equiton acquires London multifamily for $34M

Residential  •  Globe Newswire  •  RENX

The Equiton Residential Income Fund announced the acquisition of a multifamily residential building that stands 18 storeys and has 129 units in London, Ont. The Kingswell Towers, acquired for $34 million, offers one- and two-bedroom rental apartments and expansive two- and three-bedroom penthouses.

Western U. buys downtown London building for $7.3M

Commercial  •  CBC  •  Global News  •  London Free Press

Western University has purchased for $7.3 million a major piece of downtown London real estate, where the school plans to hold public lectures and become part of the community off-campus, a key part of its strategic plan.

Quebec village rejects 54-storey condo tower

Residential  •  CBC

Town council in Namur, Que., recently turned down a plan by Montreal-based developer Yul Créations Inc. to erect a 54-storey luxury condo tower in the middle of a dense, remote forest.

Contactless deliveries surge due to pandemic

Commercial  •  Globe and Mail

In a postpandemic world, the desire among commercial properties to maintain security protocols is unlikely to wane. Though COVID-19 may have accelerated the demand for contactless deliveries, some businesses are finding they make good sense.

Three founders sell $300M in Couche-Tard shares

Commercial  •  La Presse

Three of the four founders of Laval’s Alimentation Couche-Tard Inc. (ATD-A-T) – Jacques D’Amours, Réal Plourde and Richard Fortin – recently sold shares in convenience store chain for more than $300 million.

Starlight plans new stock exchange listing

Residential  •  Globe and Mail (Sub. required)  •  Canada Newswire

Starlight U.S. Residential Fund, an affiliate of Starlight Group Property Holdings Inc., is preparing to trade some of its units on the TSX, and intends to raise up to US$198 million for its U.S. Residential Fund.

Krispy Kreme takes majority stake in Krispy K Canada

Commercial  •  Retail Insider  •  Canadian Business Franchise

The U.S. owner of doughnut retail concept Krispy Kreme has taken a majority controlling stake in the Canadian franchised operations Krispy K Canada. As part of the deal, Krispy Kreme says that it plans to expand from its current 10 locations.

Cineworld planned to sell off RecRoom business

Commercial  •  Toronto Star

Cineworld Group PLC’s chief executive Moshe “Mooky” Greidinger was planning to sell off Cineplex Inc.’s RecRoom and signage business in a secret initiative he called “Project Jumanji,” Ontario Superior Court of Justice was told Wednesday.

Great Portland sells London office building for $311M

Commercial  •  Reuters

Commercial landlord Great Portland Estates said on Tuesday it had sold a central London office building for $311 million Cdn, as the company reported its “strongest” quarterly performance since the pandemic took hold.

COVID still a drag on Hong Kong’s office market

Commercial  •  World Property Journal  •  Globe and Mail (Sub. required)

According to JLL’s latest Hong Kong Property Market Monitor Report, net absorption in the overall office market continued to decrease to -10,900 square feet in August.

Small towns could face largest housing correction

Residential  •  Financial Post

Stephen Brown, Capital Economics‘ senior economist for Canada, says smaller cities face even bigger risks than the large centres covered in CMHC’s recent assessment of a pending correction. Prices in some smaller centres have soared by more than 30%, said Brown.

Homebuyers are returning to the cities: Sotheby’s

Residential  •  Financial Post  •  Globe Newswire

VIDEO: Don Kottick, CEO of Sotheby’s International Realty Canada, talks with Financial Post’s Larysa Harapyn about the fall market outlook.

Atlantic migration fuelling ‘revitalization’: RBC

Residential  •  Bloomberg

Atlantic Canada attracted a record 7,500 interprovincial migrants in Q2 2001, said RBC analyst Carrie Freestone in a note to clients. That’s a larger haul of new residents than in 2019 and 2020 combined.

Ontario needs million new homes in next decade: Paper

Residential  •  Globe Newswire

Ontario’s population is growing rapidly, which will require the building of one million new homes in the next 10 years, according to Baby Needs a New Home, a new research paper from Smart Prosperity Institute.