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Vancouver's Top-10 CRE transactions of 2023: Deal volume tumbles
Vancouver's Top-10 CRE sales of 2023: Deal volume tumbles
The dollar volume for CRE in the Greater Vancouver Area plunged in 2023 compared with 2022. Colliers reports the volume of transactions dipped 48 per cent to $6.75 billion in 2023, compared with $12.95 billion in 2022.
Office tenants have upper hand heading into 2024
Canadian office tenants have the upper hand when it comes to negotiating with their landlords heading into 2024 after a year in which availability rates stabilized at elevated levels, according to a new report from Altus Group Ltd.
Rexall pharmacy chain for sale: Sources
Rexall’s American owner is shopping the pharmacy chain to prospective buyers, according to sources, as McKesson Corp. reconsiders its Canadian footprint after a 15-year expansion. Rexall operates roughly 400 pharmacies and employs around 8,000.
 | CRE Matters A reassessment of Ontario's property tax systemRobert BrazzellManaging Director, Ontario Property Tax Services, Colliers Canada |
Calgary committee supports green space sale to RioCan
Calgary’s infrastructure and planning committee has given its initial approval to sell 5.48 acres of city-owned green space to RioCan Management. RioCan proposes six condo towers and seven other multi-storey mixed-use buildings.
Development could bring 30,000 residents to Surrey
Surrey’s Anniedale-Tynehead neighbourhood is set to undergo massive changes that could eventually see 30,000 people living in the area where Highway 1 meets several key regional transportation routes. The development will also create new industrial and retail areas.
B.C.'s higher housing density approach concerns mayors
A new Metro Vancouver regional planning report warns that the B.C. NDP’s plan to rapidly increase density through multi-family units on single family lots could upend decades of community planning and exacerbate urban sprawl.
Redeveloping L’Esplanade Laurier ‘critical’ for Ottawa
Converting L’Esplanade Laurier into a mixed-use residential complex with a public park and an attraction such as an amphitheatre is among the suggestions in a new report that offers a blueprint for revitalizing Ottawa’s downtown.
Tochal seeks to build 5,000-bed assisted-living facility
Winnipeg-based Tochal Development Group applied Thursday to build a four-storey, 5,000-bed assisted-living facility with 5,000 parking stalls at Lemay Forest in south Winnipeg. Grassroots efforts to preserve the 22.5-acre urban forest have ramped up since October.
B.C. F.N. to build 100K-sq.-ft. battery-systems factory
The Malahat First Nation is preparing to build a 100,000-square-foot facility for battery energy storage systems. The massive facility would be constructed at a 52-acre business park on reserve land adjacent to the Trans-Canada Highway.
GRESB, IWBI join forces to accelerate social sustainability
Two of the world's leading organizations involved in promoting social sustainability, GRESB and the International WELL Building Institute, have joined forces to accelerate the transition toward a healthier built environment.
In Ontario, this is how much housing $400K can buy
Living in Ontario's largest and most popular urban centres comes at a high price, according to a housing report by Point2Homes. It analyzed how much space a homebuyer could acquire for $400,000 in Ontario's 30 largest cities.
Two rental buildings planned for Greater Victoria
View Royal council is expected to approve final rezoning for Boardwalk REIT (BEI-UN-T) and Invictus Commercial Investment Corp.'s plan to build two six-storey buildings with 238 rental units on the land in the Greater Victoria town.
CIBC looking to sell $316M of U.S. office debt
CBRE Group Inc. has been hired by Canadian Imperial Bank of Commerce to find buyers for $316 million of performing and non-performing office loans, backed by eight buildings in cities including San Francisco, Seattle, Phoenix and Austin.
Oxford appoints Wates Group for U.K. office conversion
Oxford Properties Group and Pioneer Group have appointed Wates Group as the main build contractor for converting Victoria House in Bloomsbury Square, central London, into a state-of-the-art life sciences hub which is due to complete in autumn 2024.
AY acquires more Madison Marquette businesses
About 18 months after acquiring several business lines from Washington, D.C.–based Madison Marquette, Toronto-based Avison Young has added Madison Marquette’s specialty leasing, retail property management, marketing and leasing businesses, encompassing over 6.1 million square feet of U.S. assets.
BlackRock acquiring GIP to create $150B giant
BlackRock, Inc. (BLK-N) has an agreement to acquire Global Infrastructure Partners (GIP) for $3 billion in cash and approximately 12 million shares of BlackRock common stock. The companies have over $150 billion in assets under management.
Starwood Capital acquires 10 London hotels
Starwood Capital Group, a global private investment firm, announced today a controlled affiliate has acquired a portfolio of 10 London hotels from Edwardian Group for an undisclosed sum via an off-market transaction. The portfolio comprises 10 hotels with 2,053 rooms.
LondonMetric buys rival LXI REIT in $2.4B deal
LondonMetric Property has agreed to take over rival U.K. office owner LXI REIT in a deal valuing the company at $2.4 billion US. It is the latest in a series of tie-ups by publicly traded U.K. office owners.
Blackstone names co-CIOs, Meghji promoted
Blackstone (BX-N) has elevated Ken Caplan and Lionel Assant to newly created roles as global co-chief investment officers. Nadeem Meghji, head of Real Estate Americas, will succeed Caplan as global co-head of real estate alongside current co-head Kathleen McCarthy.
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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