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Acquisitions by private investors comprise 82% of Q2 CRE activity
Acquisitions by private investors 82% of Q2 CRE activity
Canadian private investors dominated Q2 commercial real estate acquisitions, representing 82 per cent of transactions according to Avison Young’s new investment trends report. But that recent trend is unlikely to continue.
AHIP chair W. Michael Murphy has died
American Hotel Income Properties REIT (HOT.UN-T) has announced the death of its board chairman, W. Michael Murphy, a long-time industry executive who had served a decade on AHIP’s board.
Board battle erupts at struggling Slate Office REIT
As the price of debt-burdened Slate Office REIT’s (SOT-UN-T) publicly traded units approaches zero, a behind-the-scenes war is breaking out on its board of trustees between its managers and activist investor George Armoyan.
Industrial rental rate growth streak ends, availability up: CBRE
According to CBRE’s Q2 industrial figures, the national availability rate rose to 4.2 per cent, marking the highest availability since Q3 2017 and near the 15-year historical average rate of 4.6 per cent.
Buildings in Jasper in ashes as 'monster' wildfire grows
A wildfire that roared into Jasper, Alta. late Wednesday, incinerating vast stretches of the townsite, has grown to 36,000 hectares. Provincial officials said estimates suggest 30 to 50 per cent of the town's structures may have burned.
$490M in insurance claims for 2023 N.S. floods, wildfires
The Insurance Bureau of Canada says the devastating wildfires and deadly flooding that plagued Nova Scotia last year have resulted in $490 million in insured losses. Some claims have yet to be resolved, a new report says.
Interest rate cut emits positive signal for CRE
Another drop in the Bank of Canada’s overnight lending rate, to 4.5 per cent, is touted as a positive signal for commercial real estate, though there's still some way to go to reach a neutral level around three per cent.
More than 75 new condo projects on hold in GTHA
New condo launches have been sparse in the Greater Toronto and Hamilton Area amid the higher interest rate environment. There was just one high-rise condo launch in the first few months of this year, which is atypical for the region.
Vancouver approves TransLink's first rental housing project
Vancouver City Council has approved the rezoning application to enable the construction of a new high-rise, mixed-use rental housing tower at the southeast corner of West Broadway and Arbutus Street in the Kitsilano neighbourhood.
35-storey rental proposed for Vancouver's West Broadway
A new rezoning application by Gracorp Properties — a division of construction and engineering firm Graham Construction — calls for the redevelopment of 1470 West Broadway. It is the tallest high-rise tower proposal to date under the City of Vancouver's Broadway Plan.
TO rental resubmission bumps height from 35 to 45 storeys
Resubmitted plans for a market-rate rental building at 494 Richmond St. E. in Toronto's Corktown neighbourhood propose increases in height and density. The resubmission calls for towers reaching 12 and 45 storeys.
The rise of purpose-built rental communities
In the evolving landscape of residential real estate, with demand for rental units on the rise and plans to purchase single-family homes declining, purpose-built rental communities are proving more than a trend and emerging as a stable asset for investors.
Impact Kitchen expands in Toronto with 2 new locations
Toronto-based Impact Kitchen is expanding to two more locations in the city with plans to also break into the New York City market in the near future. Currently, five locations are open with two more opening in coming months.
Property investment firm suspended by B.C. regulator
An investment firm in Richmond specializing in commercial property flipping has been suspended for violating securities laws. The B.C. Securities Commission has suspended the registration status of Genesis Wealth Management Corporation “for failing to comply with various regulatory requirements”.
GTHA survey says construction a key reason for congestion
A majority of Greater Toronto and Hamilton-Area residents believe a major cause of traffic and congestion is excessive construction. An Ipsos poll found 86 per cent of residents agree there is a traffic and congestion crisis in the region.
Real estate podcasts
Ryan Gladman, Colliers: Addressing the Affordable Housing Crisis with Collaboration and Support, CRE Podcast
Ryan Speers, Workhaus: The Future of Work is Flexible, The Tenant Network
Sheila Botting, Avison Young: The Future of Housing and Office Space in North America, CRE Podcast
Cold storage REIT raises $4.4B in largest IPO of 2024
The initial public offering of Lineage, a cold-storage logistics firm based in Michigan, seized the title of 2024's biggest stock market debut. It raised $4.4B by selling nearly 57 million shares at $78 apiece, Bloomberg reported.
Prologis puts power first as it prepares $8B data centre push
Prologis, the most valuable U.S. REIT, plans to spend $7B to $8B in the next five years launching its data centre business. It owns 1.2B sq. ft. of logistics and industrial space across 19 countries including Canada.
Ares, UOB refinance loan for Blackstone office after sale pulled
Private equity firm Blackstone Real Estate Partners has received a loan from Ares Management Corp. and United Overseas Bank Ltd. to refinance an existing facility that funded a commercial office block in Sydney, according to people familiar with the matter.
NatWest boosts forecast, buys £2.5B mortgages portfolio
NatWest Group Plc shares soared after it boosted its forecast for full-year revenue, as the lending giant continues to benefit from high interest rates. The company also purchased a £2.5B portfolio of prime residential mortgages from Metro Bank.
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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