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CORRECTED: Fiera expands in Calgary, buys 4 apartment bldgs. in 2 transactions
Fiera buys 4 apartment bldgs. in Calgary in 2 transactions
The Fiera Real Estate CORE Fund filled a "big gap" by acquiring four apartment buildings in Calgary, comprising 456 units, in two transactions.
NOTE: Today's newsletter has been re-published to correct a template issue in the original. We apologize for the error.
Culture-driven placemaking is shaping RE strategies in 2025
GUEST SUBMISSION: Over the past decade we saw how the rise of Instagram and social media influencers helped scale a greater interest in creative placemaking in real estate. But there's a major shift in this approach these days.
Vancouver's Plaza of Nations site has been quietly sold
The False Creek property has sold for an undisclosed sum believed to be in the hundreds of millions of dollars to a group that has no track record of development in Vancouver. The new owner is Northchild Group.
Site preparation begins for office towers in Surrey, B.C.
Over five years after the closure of a recreation centre and arena, its former buildings in the core of Surrey City Centre will be demolished. A redevelopment of the municipally owned “Centre Block” office and institutional complex is planned.
Oxford sells 50% stake in $1.2B Euro warehouse portfolio
Australia's largest pension fund has acquired a 50 per cent stake in a $1.2B portfolio of European warehouses owned by Oxford Properties, the real estate vehicle of Ontario Municipal Employees Retirement System.
CPP Investments partners with Brazil's Cyrela in $400M JV
Canada Pension Plan Investment Board has signed a joint venture agreement with Cyrela Brazil Realty. CPP Investments and Cyrela have established an investment target of $400 million, on an equal partnership basis, to develop residential condominiums in São Paulo.
$1.7B sale of ASH REIT to Forum completes
Alignvest Student Housing has announced the successful sale of Alignvest Student Housing Real Estate Investment Trust (ASH REIT) to Forum REIIF for $1.7 billion, a 31 per cent premium in fair market value.
Toronto budget includes 6.9 per cent property tax hike
Toronto’s proposed 2025 budget includes a 6.9 per cent property tax hike, an increase Mayor Olivia Chow says is necessary to enable critical investments in libraries, police, transit, housing and other services.
Former TO power station proposed for 30-acre redev.
A massive redevelopment is planned for the historic Richard L. Hearn Generating Station in Toronto’s Port Lands. It would incorporate the shuttered power station into a multi-use district to be built over 30 acres by the Cortel Group.
OLT to mediate subdivision plan for historic golf course
The future of a proposed subdivision in Perth remains unclear as the town and the developer work under the supervision of the Ontario Land Tribunal to come to an agreement. Caivan plans 1,000 new homes on the historic golf course.
Developer plans twin towers for Calgary's Marda Loop
A mixed-use development is planned at the former site of a Calgary movie theatre in Marda Loop. Truman and Calgary Co-op are proposing to build 440 housing units, a grocery store, shops and services and parking.
Historic Edmonton apartment building changing hands
Edmonton’s Annamoe Mansion was built in 1914 for Robert Childers Barton, who named the apartment building after the town where he was born in County Wicklow, Ireland. ARH Homes has made an offer to purchase the property for $3.5M.
Kamloops hotel sells for $18.2M, or $233K per room
An upscale Kamloops hotel has changed hands at a cost of nearly a quarter-million dollars per room. The Best Western Premier, 1175 Rogers Way, sold for $18.2-million in an off-market deal that closed last summer.
Victoria sets minimum size for downtown suites: 355 sq. ft.
Downtown Victoria housing options could get a little larger after council this week endorsed a new minimum standard size for multifamily housing units. All new housing units in the city will be required to be at least 355 square feet.
Saskatchewan sees 26.2% growth in building permits
Saskatchewan’s construction sector continues to flourish, with Statistics Canada reporting a 26.2 per cent year-over-year increase in the value of building permits from November 2023 to November 2024. The growth places the province second among Canadian provinces.
TO-Quebec City high-frequency rail line faces further delay
Canadians hoping plans for high-frequency rail between Toronto and Quebec City would move forward this year will instead see further delays – and the prospect of a federal election makes the timeline more uncertain than ever.
Ackman's Pershing Square proposes merger with Howard Hughes
Pershing Square Capital Management LP has proposed a deal to merge a newly formed subsidiary with Howard Hughes Holdings, the latest step in Ackman’s pursuit of the real estate developer he used to help lead.
DHL supply chain buys reverse logistics leader, Inmar Supply Chain Solutions
DHL Supply Chain has announced the acquisition of Inmar Supply Chain Solutions, a leading returns solutions provider for the retail e-commerce industry. The move makes DHL Supply Chain the largest provider of reverse logistics solutions in North America.
JCPenney merges with Brooks Brothers owner to create 1,800-store giant
Sparc Group — owner of Forever 21, Aéropostale, Brooks Brothers, Eddie Bauer, Nautica, Stafford and Liz Claiborne — has officially merged with the department store chain JCPenney to form a new entity, Catalyst Brands.
Norway to mandate bomb shelters in new civil defence plan
Norway plans to require all new buildings to have a bomb shelter as part of its efforts to boost crisis resilience of its civil society after neighboring Russia’s invasion of Ukraine.
Industry Events
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ICSC Whistler
Jan 26 2025
to Jan 28 2025
Fairmont Chateau Whistler
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Canada Real Estate Auctions
Feb 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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CRE.Converge 2025
Sep 08 2025
to Sep 10 2025
Sheraton Centre Toronto
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