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Welltower to acquire Amica Senior Living for $4.6B

4 weeks ago

Welltower to acquire Amica Senior Living for $4.6B

Health care infrastructure REIT Welltower Inc. (WELL-N) is acquiring the $4.6-billion portfolio of Toronto-based Amica Senior Lifestyles from Ontario Teachers’ Pension Plan Board (OTPP).

Hines nears completion on 2 major GTA developments

International developer Hines is nearing completion on two major downtown Toronto developments; a luxury apartment tower and the final office highrise to complete for the next few years.

Edmonton's draft deal for OEG park and private development

The Alberta government, City of Edmonton, and Oilers Entertainment Group (OEG) have arrived at a tentative deal, including $250-million of public funds, that would bring more people to Edmonton’s downtown and demolish the Northlands Coliseum.

Capital Power says Alberta plant to pursue DC business

Electricity producer Capital Power Corp.'s $1.6-billion multi-year retooling of Genesee Generating Station that converted it from natural gas instead to coal prepares the company to seize data centre opportunities in Alberta.

Developers' silver lining in troubled Toronto condo market

Not long ago buyers could not go wrong with a preconstruction condo purchase. Investors piling into the market during and after the pandemic have led to what is expected to be a record number of unit completions this year.

Fall of Ashcroft Homes hastened by 2018 residence fire

Court documents show the failure of the Ashcroft Homes Group was hastened by a 2018 fire at its student residence then under construction. The three-alarm fire at the 26-storey building caused extensive damage to 10 of the building's floors. 

The City of Vancouver gets into the rental game

The City of Vancouver has been a pioneer in novel housing initiatives for a couple of decades. It legalized basement suites, laneway homes, and fourplexes on all detached housing lots in 2023, as well as incentivizing developers to build rentals.

Calgary leads Canadian cities for biggest drop in rent prices

Calgary is leading all major Canadian cities when it comes to the biggest year-over-year drop in rent prices for one-bedroom rentals. Zumper's latest report also shows Vancouver continues to lead the country with the highest rents.

Mezza sees market for more quality modular homes

Mezza Ltd. president Tyler Wilson says his firm has plans to scale up its delivery of more affordable, quality modular housing in Northern Ontario as a solution to rapidly rising housing prices in the region.

Trump orders increased lumber production, investigation

On Saturday, U.S. President Donald Trump signed orders to increase his country’s domestic supply of timber while reducing timber imports from other countries, including Canada.  He also authorized an investigation into possible harms lumber imports pose to national security.

Canadian homebuilders fear U.S. tariffs on steel, aluminum

Canadian homebuilders are fearing a return to pandemic-era construction cost increases as the U.S. gets ready to slap steep tariffs on the country’s imports, with levies on steel and aluminum set to inflict serious damage on the industry.

Toronto mustn't paralyze over office-to-res conversions

The City of Toronto chief planner and executive director has been directed to meet with stakeholders for feedback on proposed adjustments to municipal policies that would make it easier to convert office buildings into mixed-use or residential buildings. 

Montreal warehouse's extra heat energy for other buildings

The project involves building a geothermal heating system to connect the buildings and cut down on wasted energy. In the summer, the system would power air conditioning; in the winter, it would help with heating.

Canadians want retailers to support local businesses: KPMG

As more Canadians choose to buy local products amid the looming threat of U.S. tariffs, a new survey from KPMG in Canada finds they want retailers to make it easier for them to do so.

Brookfield sees $630B opportunity in U.K. pensions market

Brookfield Wealth Solutions has entered the U.K. insurance market, in a long-anticipated foray into the country’s pension risk-transfer industry. There is over US$630 billion of demand for pension buyouts expected over the next decade.

DOGE risks new $5B headache for struggling U.S. landlords

On a two-mile stretch of Washington, D.C., lies evidence of the pain coming for the already beleaguered U.S. commercial real estate market. The Trump administration’s Department of Government Efficiency says it has cancelled at least four leases in the area.

U.S. prison REITs foresee growth with immigration crackdown

The two major publicly traded prison REITs, CoreCivic and The Geo Group, saw their stocks rise by over 80 per cent in the days after Trump’s election win. The firms provide immigrant detention facilities for the U.S. government.

ESG faces backlash and its future under Trump 2.0

The three letters ESG have inspired, confused and angered. They stand for environmental, social and governance, and refer to a strategy where banks and investors weigh factors such as climate change and labor conditions in their financing decisions.

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