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Nicola Wealth Real Estate tops $10B in assets
Nicola Wealth Real Estate tops $10B in assets
A growing presence in the multifamily, industrial and self-storage sectors has helped Nicola Wealth Real Estate to push its investment portfolio past the $10-billion mark in value. New developments and acquisitions are planned to continue that trajectory.
Greybrook founder Elias Vamvakas dies at 65
Greybrook has announced the death of its founder, Elias Vamvakas, who helped build the Toronto-based private equity firm into an entity with real estate and health care investments valued in the billions of dollars. Vamvakas died after a battle with pancreatic cancer. He was 65.
Office tower proposal for Fairmont Vancouver withdrawn
A new mixed-use office space addition for the Fairmont Hotel Vancouver will not be going forward as planned. Hotel owner Larco Hospitality has withdrawn a rezoning application to build a 12-storey office tower infill addition to the heritage hotel.
Who is going to build millions of new homes?
Canada finally has a plan. Through policy changes and billions in spending, the federal government moved to boost home construction to 3.9 million new homes – two million more than projected – by 2031, to infuse supply into the inflated housing market.
Are temporary closures a sign of stress at Hudson Bay?
Hudson’s Bay Co. made headlines last week with the acquisition of Neiman Marcus Group LLC, but for some Canadian shoppers at its iconic Bay chain, it’s the basics that remain a bigger concern.
Winnipeg's Dakota Family Foods to shutter
After nearly two decades in business, Dakota Family Foods is winding down operations. The south Winnipeg grocery store announced its impending closure Wednesday morning. The roughly 20,000-square-foot store will close by November.
Source Atlantic being sold to Lawson Products Canada
Ocean Capital Holdings has agreed to sell industrial wholesale distributor Source Atlantic to Lawson Products Canada. Source Atlantic employs 550 people in 24 locations nationwide and has been recognized as one of Canada’s Best-Managed Companies since 2017.
Hotel-inspired co-working redefines Toronto's 302 Bay St.
At first glance, 302 Bay St., soon to be the newest co-working space from iQ Offices, looks exactly like a high-end hotel or restaurant inside. A bar extends across one side of the lobby.
Weaker inflation, even in the U.S., what the BoC hopes for
The consumer price index (CPI) looked promising in the United States today as inflation chilled to three per cent, just a hair above a three-year low. Canadian government bond yields — which steer fixed mortgage rates — promptly dove as a result.
Toronto, Vancouver housing cools; Prairies, Quebec bouyant
Housing sales remain slow and rents have decreased in some of Canada’s largest and priciest markets, but some cities in the Prairies and Quebec have home prices and rents moving upward, according to two housing reports this week.
Two high-rise condo towers proposed near Glencairn station
Osmington Gerofsky Development has submitted plans for a pair of high-rise condo towers near the Glencairn subway station. The Toronto-based development company wants to replace eight freehold houses with 35- and 39-storey condo towers, adding 1,000 new residential units.
Intergulf proposing 39-storey strata tower in Burnaby
Older rental buildings in Burnaby continue to be the subject of redevelopment. The latest proposal is for a 39-storey tower at an old rental building north of the Metropolis at Metrotown shopping centre.
Builders continue to face red tape despite build focus
On paper, the project looks like precisely the kind of housing Toronto city officials and councillors say they want more of - eight fairly spacious two- and three-bedroom rental apartments on three floors, plus two more laneway suites.
More rental housing needed despite rise: RBC economist
Rental housing construction in Canada has picked up significantly and is expected to keep growing this year, according to a new RBC report. However, the report says more supply is needed to fill the backlog of demand.
Hamilton will allow new condo towers - with conditions
A developer can tear down Hamilton's historic Philpott Memorial Church to make way for condo towers if it promises to include a few affordable units, the city says. The requirement is included in a proposed "heritage conservation easement".
Vancouver restarts False Creek South development planning
Nearly three years after the previous Vancouver City Council rejected a city-led redevelopment concept for the False Creek South neighbourhood, the municipal government is restarting the planning process from scratch.
Blackstone selling $2 billion of CMBS to fund AIR acquisition
Blackstone Inc. is selling commercial mortgage bonds to help pay for its planned $10 billion purchase of AIR Communities, an apartment landlord. The $2 billion offering is being structured by Wells Fargo.
Bally’s secures $2.7B funding commitment from GLP
Bally’s Corporation (BALY-N) has entered into a strategic construction and financing arrangement with Gaming and Leisure Properties (GLPI-Q) which included funding to complete the construction of Bally’s permanent casino development in Chicago.
KKR, Palm Capital buy Danish Logistics property from Catena
KKR & Co. and Palm Capital Ltd. have become the latest example of investment firms picking up Nordic real estate assets in an industry that was crippled by a sharp jump in borrowing costs last year.
Chile braces for a $552 million flood of commercial real estate
Investors in Chile are bracing for a flood of commercial buildings to hit the market as two large real estate investment funds near liquidation. The $552 million US portfolios are held in funds managed by Toesca SA and Banchile Inversiones.
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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