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Diversification is driving Calgary's economy and CRE sector
Diversification is driving Calgary's economy and CRE sector
Calgary has become more than a ‘one-trick pony’ relying on the oil and gas sector to fuel its economy. Investment in other sectors including technology is helping drive the city’s economic engine, and by extension its real estate market.
Sound the alarm: Property taxes and municipal sustainability
GUEST SUBMISSION: An examination of the City of Edmonton's Fiscal Gap Report clearly outlines a growing reliance on property taxes for funding, a situation that's not sustainable. Edmonton is not alone ... with limited funding sources, many cities face this problem.
CityPlace saga culminates with Canada House project
A quarter-century in the making, providing homes for 21,000 residents in 31 towers, Concord Adex’s master-planned CityPlace development in downtown Toronto is coming to completion. Two final highrise towers known as Canada House have occupancy set for 2025.
PEC Community Partners plans 7,500-home development
Ontario's Prince Edward County region has become a popular tourist destination with over 40 wineries, plus art galleries, hospitality and recreation destinations. Soon, it will also host a major housing development, Base31, to accommodate a growing population.
Brookfield confirms HQ move from Toronto to New York
Toronto-based investment management company Brookfield Asset Management (BN-T) has moved its head office to New York in a bid to broaden its investor base to include passive institutional investors that collectively manage trillions of dollars.
Slate Office REIT sells 2 Winnipeg office properties for $25.2M
Slate Office REIT (SOT-UN-T) announced the sale of two properties in Winnipeg for a total of $25.2 million. Proceeds from the sales of 114 Garry St. and 365 Hargrave St., will be used to reduce the REIT’s indebtedness.
68-storey Toronto tower resubmission eliminates office space
H&R REIT has made a resubmission of plans for 55 Yonge St. which now calls for a 68-storey tower. The updated plan includes two additional storeys. adding over 350 units by replacing the previously proposed office space.
Quebec quietly paid banks $44M for Groupe Sélection debt
Quebec taxpayers paid nearly $44 million in May to repay a debt owed by Groupe Sélection to a banking syndicate. The extent of the debt that the government reimbursed the syndicate was finally revealed before the Superior Court.
Automotive Properties REIT buys three properties for $44.5M
Automotive Properties REIT (APR-UN-T) has agreed to buy a U.S. automotive property in Tampa for roughly $19.1M. In a seperate purchase, the REIT has acquired two heavy construction equipment dealership properties in the Greater Montreal Area for $25.4M.
Vancouver building site that burned four times listed for $20M
A controversial property in Vancouver’s Mount Pleasant neighbourhood that went up in flames at least four separate times within the span of 13 months has been listed on the market for its redevelopment potential.
Vancouver is working toward making 'pod hotels' a reality
Vancouver is inching closer to allowing so-called “pod hotels”, which could be up and running before the FIFA World Cup in 2026. City staff been talking to commercial landlords about possible conversions of existing office buildings into temporary pod hotels.
Calgary hotels to lead West in revenue growth in 2025
Alberta hotel markets are shining bright, according to speakers at the Western Canadian Lodging Conference in Vancouver. Calgary will lead the West in revenue growth next year, with revenue per available room forecast to grow 7.1 per cent.
The Fares' view of Halifax housing from 27 storeys up
Francis Fares has a desk full of things to get done pretty quickly, but his long-term goal is to still be around when his massive King’s Wharf development is completed, even if that’s 15 years from now.
Developer says St. John's axed apartment proposal
The developer of the Galway subdivision is calling out the City of St. John's for allegedly rejecting the development of a new apartment building in a time of housing need. The city says council hasn't seen the proposal.
More infrastructure investment needed in B.C.: BCCA
Declining investment in major infrastructure projects is “alarming,” according to a new report from the B.C. Construction Association (BCCA). Since spring 2024, the value of proposed major infrastructure projects has decreased nearly 20 per cent over the past five years.
Canadian in Dubai becomes billionaire with ‘Private CIA’ empire
Stephan Crétier, Garda World Security founder and chairman, will be worth US$2.6B once London-based BC Partners completes the sale of its controlling stake back to management. Crétier's US$500M holdings in real estate include two Napa wineries.
Timbercreek closes second Irish RE debt fund at $185M
Alternative real estate investment manager Timbercreek Capital, which focuses on providing transitional financing solutions to experienced real estate owners and investors, has announced the final close of Timbercreek Ireland Fund II at $185 million.
Whitestone REIT rejects $1.45B acquisition from MCB
Whitestone REIT has formally rejected the latest acquistion offer from MCB Real Estate, prompting the Baltimore-based investment management firm to urge Whitestone’s board and management team to "cease their entrenchment tactics."
Inside the 1.4M-sq.-ft. office retrofit the world is watching
There’s retrofitting and refurbishing an aging office building. And then there’s the Citi Tower in London, a 1.4M-sq.-ft. project that big corporate occupiers, real estate players, financial regulators and environmentalists across the world are keeping a close eye on.
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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