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The real estate industry is recovering, but to what extent?
The real estate industry is recovering, but to what extent?
“We're stepping gingerly into a recovery.” That was the message from MSCI head of real estate economics Jim Costello as he opened the Global Property Market conference this week in Toronto.
Ottawa’s $2B plan to boost development of data centres
The federal government plans to spend $1-billion to build supercomputing infrastructure to power artificial intelligence models and another $1-billion to subsidize companies that want to build data centres and access resources for AI.
Calgary city council rejects Glenmore Landing development
City council has rejected a developer's plans for a major expansion at the Glenmore Landing shopping centre in southwest Calgary. The development plan — proposed by RioCan — was to build six mixed-use highrises, adding over 1,100 residential units.
3 investors acquire $197.5M Montreal apartment portfolio
Three private investors are spending $197.5 million to purchase the Norgate Apartments from KingSett Capital and Starlight Investments in Greater Montreal. Broker JLL calls it the biggest multifamily transaction this year in Quebec.
Brookfield’s simpler structure adds layer of rigour
Brookfield (BN-T) boss Bruce Flatt is nearly finished picking the low-hanging fruit. He has been reshaping the $100B investment conglomerate, a process that has steadily helped narrow a stubborn valuation discount and attracted hedge fund manager Bill Ackman's backing.
Burnaby's $65M office buildings buy 'too good to pass on'
The City of Burnaby got a bargain on two Metrotown office towers last month. The city purchased the 350,000-square-foot complex for $65 million, about $22.8 million below the then-Slate-owned property’s assessed value.
A breakdown of the big banks’ fourth-quarter earnings
Canadian Imperial Bank of Commerce, Royal Bank of Canada and National Bank of Canada posted profits that beat analyst estimates. Meanwhile, Toronto-Dominion Bank, Bank of Montreal and Bank of Nova Scotia posted earnings that missed analyst estimates.
Canada jobless rate jumps to 6.8%, raising odds of big cut
Canada’s biggest employment gains since April failed to prevent the jobless rate from surging to the highest level in three years, likely bolstering the case for the central bank to keep cutting rates at a faster pace
Residential towers planned near Calgary's CF Chinook Centre
A big new development is being proposed near CF Chinook Centre, which could lead to hundreds of new units for Calgarians to call home. The two proposed buildings would be 20 storeys in height and hold 504 dwelling units.
Capilano Mall plan includes 11 towers in 2 'neighbourhoods'
Massive changes could be coming to Capilano Mall and the 16.5-acre site surrounding it. A master-plan concept has been released by developer QuadReal for 3,100 homes across 11 residential towers, ranging from 12 to 40 storeys high.
Rental housing and retail building planned for Vancouver
The retail village of West Point Grey in Vancouver could see an economic vitality boost from a new mixed-use rental housing and commercial redevelopment. Third Space Properties and Integra Architecture have submitted an application to redevelop 2555 Discovery St.
Will Argyle be London's next booming district?
An Ontario numbered company plans to replace the well-worn buildings and parking lot at the Eastown Plaza in London with a 10-storey building containing 6,300 square feet of commercial and office space with 334 apartments above.
Amazon releases annual investment in Canada report
Amazon has grown to more than 70 operations and logistics sites across Canada. Highlights from the company's 2024 investment report include the opening of YYC4, a 2.8-million-square-foot Amazon robotics fulfilment centre in Calgary.
Winnipeg approves 105,000-sq.-ft. Princess Auto flagship
Princess Auto, a retailer with deep roots in Winnipeg, is a step closer to building a new flagship store after city council’s executive policy committee voted in favour of a major retail development.
Historic B.C. Pen site faces foreclosure and legal battle
A riverfront Metro Vancouver property that was once the site of murders, executions, riots and hostage-takings is now the focus of skirmishes among real estate investors, lenders and their lawyers. Potential developments floated for the property have included a hotel.
Real estate podcasts
Alex Avery, Primaris REIT: Optimism in CRE - A New Era for Malls, CRE Podcast
Stephen Sender, Allied Properties: The Evolution of Canadian REITs, CRE Podcast
Cory Wright, William Wright Comm.: 5 Secrets to Doubling Your CRE Cash Position, VCREP
Meta eyes $10B AI-optimized data centre campus
Meta, the parent company of Facebook and Instagram, will build a US$10 billion, 4 million-square-foot AI-optimized data centre campus in Northeast Louisiana’s Richland Parish. Site work will begin later this month, with construction continuing through 2030.
INDUS acquires stake in 4.3M square feet industrial portfolio
INDUS Realty Trust has purchased a majority interest in a 4.3 million-square-foot industrial portfolio, comprising 21 buildings in Charlotte, N.C., and Charleston, S.C. Childress Klein owns The Carolinas Portfolio, now valued at $575 million.
NYC zoning overhaul approved, clears path to 80,000 new units
New York City lawmakers have approved a zoning change that enables the creation of tens of thousands of additional housing units in all five boroughs. The measure will change zoning restrictions for the first time since the 1960s.
PegasusAblon founder says it's time to buy class-A office
PegasusAblon founding partner Mike Ablon calls now “a generational time” to buy class-A office product in walkable areas. He's putting his money where his mouth is, snapping up Dallas' 1.85M-sq.-ft. Bank of America Plaza, with Hoque Global.
Industry Events
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Canada Real Estate Auctions
Jan 01 2025
to Dec 31 2025
Canada
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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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