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Optimum Financial buys Montreal building for new head office

2 weeks ago

Optimum Financial buys Montreal building for new head office

Optimum Financial Group has spent $35.2 million to acquire 2200 McGill College Ave. in downtown Montreal from iA Financial Group for its new global headquarters.

Budget to include $50B infra fund, $5B for health infra

Tuesday’s federal budget will announce a $50-billion fund for local infrastructure, including housing, transportation and a specific stream for health infrastructure such as hospitals and emergency services, a senior government official told The Globe and Mail.

Kitigan Zibi files land claim in W. Quebec including Gatineau Park

The Kitigan Zibi Anishinābeg nation has filed a land title claim against the Quebec and Canadian governments encompassing large swaths of land in W. Quebec. The claim is partly intended to protect the future of the First Nation.

Richmond owners unite, fight land taxes in Cowichan dispute

A group of Richmond property owners has started a property tax appeal following a Cowichan Nation court ruling that has thrown into question private property rights. Property tax expert Paul Sullivan is spearheading the “mass property tax appeal.”

Taza Park West welcomes Walmart to Tsuut'ina Nation land

An agreement signed in 2018 between the Tsuut'ina Nation and Canderel has resulted in a relationship that continues to attract a growing number of commercial and retail tenants into its 1,200-acre Taza project south west of Calgary.

Demisability: How racking design can save buildings

Subdividing industrial buildings requires more than demising walls and separate entrances. Racking infrastructure becomes surprisingly complex in demised spaces, creating challenges that developers and agents need to understand before tenants move in.

Sponsored by: North American Steel

Build Canada Homes and factory-built housing at Downsview

With $13 billion to spend nationally, the federal housing agency Build Canada Homes has lined up its first project in Toronto - a factory-built housing development at Downsview that includes a vision for 15 new neighbourhoods with 115,000 residents.

Hudson’s Bay landlords to get back properties

Hudson’s Bay is returning its former stores to landlords, effectively ending a B.C. billionaire’s bid to take over the leases. Franco Perugini, HBC’s SVP, real estate and legal, said HBC is disclaiming the leases on 25 properties.

Maritime Launch gets $10M loan to build N.S. spaceport

Maritime Launch Services just got a financial boost in the Atlantic Canada commercial space race. The Halifax-based aerospace company has secured a $10M senior credit facility from Export Development Canada to continue development on a spaceport in Nova Scotia. 

The era of the shoebox condo is over

With detached houses increasingly out of the reach of middle-class homebuyers even in far-flung suburbs, there’s a growing consensus building apartments that can be desirable homes, including for families, is a key part of tackling the housing crisis.

Homebuilder sentiment drops to record lows

Data from the latest Housing Market Index, published by the Canadian Home Builders’ Association, fell yet again in Q3 to record lows, reflecting a growing concern over sales, trade uncertainty and a lack of supportive policy for homeownership.

Hamilton's Pier 8 again delayed by slumping housing market

An ambitious plan by consortium Waterfront Shores to build roughly 1,645 residential units at Pier 8 at Hamilton’s west harbour has been delayed again due to a slumping housing market even though an 18-month extension expired Oct. 31.

New Vancouver Hilton downsized for rental component

Another revision has been made to the long-planned project of redeveloping the Park Inn & Suites by Radisson on West Broadway in Vancouver.  The redevelopment is situated just steps from the emergency entrance of Vancouver General Hospital.

Yum Brands begins strategic review for Pizza Hut chain

Yum Brands is exploring options for its Pizza Hut chain as it struggles to keep pace in the highly competitive fast-food industry. Sales have lagged Yum Brands' other prominent units, Taco Bell and KFC International, falling for seven consecutive quarters. 

Starbucks sells control of China business to Boyu

Starbucks has sold control of its operations in China to Boyu Capital, a deal that values the business at $4 billion - one of the largest divestments of a China unit by a global consumer company in recent years.

Colliers adds top-tier Australian engineering firm

Colliers Engineering & Design Australia has acquired Greenhill Engineers, a leading urban development consultancy based in Adelaide. The business will rebrand as Colliers Engineering & Design and integrate into the Colliers engineering platform. Terms of the transaction were not disclosed.

Pearce Services acquisition expands CBRE's digital and power infra.

CBRE has acquired Pearce Services, LLC, a provider of technical services for digital and power infrastructure, from New Mountain Capital. The purchase price is $1.2 billion in cash plus a potential earn-out of up to $115 million.

What CRE needs to know about U.S. Supreme Court tariff battle

President Trump faces a key legal challenge this week as the Supreme Court hears arguments on a case in which he allegedly, illegally used emergency powers to impose tariffs. It could, potentially, give CRE stakeholders more confidence in decision-making.

JPMorgan, Sculptor lend $565M for solar-powered condo in Miami

Real estate developer Ytech landed a US$565-million construction loan from JPMorgan Chase & Co. and Sculptor Real Estate for a 70-storey condo tower in Miami’s Brickell neighbourhood.

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