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Recent Articles

QMLP sticks to its strategy, expands multifamily portfolio

3 years ago

RENX   •   • 

Q Management LP was involved in selling Continuum Residential Real Estate Investment Trust’s $1.73-billion multi-residential portfolio to Starlight Investments in late 2019, as well as two of the 10 largest commercial real estate transactions in the Greater Toronto Area last year.

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Slate Asset Management is betting on an economic recovery and a return to offices as vaccines roll out, marketing plans for a 220,000-square-foot complex to be built in Burnaby. Capital Point would comprise a mix of office and retail space.

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Highfield Investment Group‘s High Plains Industrial Park in Balzac – already comprising five million square feet of industrial space – is expanding with the acquisition of another 298 acres immediately to the east of the park, strategically positioning it for future growth.

RENX   •   • 

Crestpoint Real Estate Investments Ltd. continued its early 2021 acquisition spree, announcing Wednesday it has acquired the Northport Business Park in Edmonton. Northport is a class-A, new-generation warehousing and distribution complex located in northwest Edmonton.

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Allied Properties REIT‘s (AP-UN-T) 17-storey Sun Tower is receiving a $5-million renovation including masonry work, terracotta preservation and seismic upgrades. Its 76,000-plus square feet of office and 1,670 square feet of retail space will be available for lease on June  1.

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Prime Minister Justin Trudeau announced plans for the federal government to spend an additional $14.9 billion over the next eight years on public transportation projects across the country. The funding includes $5.9 billion in short-term funding to be disbursed starting this year.

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Quebec’s provincial government says it is ready to contribute to the financial package requested by Aéroports de Montréal (ADM) for  construction of the Réseau express métropolitain (REM) station at Pierre-Elliott-Trudeau International Airport. The project is valued at $600 million.

BIZ   •   • 

Retail giant IKEA hit two major sustainability milestones during 2020, in Canada and around the world. The global furniture and housewares retailer announced it had generated four times the amount of renewable energy it consumed in Canada.

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After posting a record-breaking year for cargo volume the Prince Rupert Port Authority already has its eyes set on another good year in 2021, with an even bigger milestone just beyond the horizon: passing Montreal to become Canada’s second-largest port.

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Netflix plans to open an office in Canada in what the streaming giant calls “a big first step” toward content creation in this country. Netflix co-CEO and chief content officer Ted Sarandos says the company is considering Toronto and Vancouver.

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Cineplex Inc. (CGX-T) reported a fourth-quarter loss of $230.4 million as restrictions to slow the spread of the pandemic were tightened and theatres closed. The loss compared with a profit of $3.5 million in Q4 2019.

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Choice Properties REIT, (CHP-UN-T), Canada Newswire
First Capital REIT, (FCR-UN-T), Canada Newswire
Killam Apartment REIT, (KMP-UN-T), Canada Newswire
RioCan REIT, (REI-UN-T), Globe Newswire
SmartCentres REIT, (SRU-UN-T), Globe Newswire

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Last week, Simon relinquished its ownership of an Atlanta mall in a foreclosure auction that saw no bids. This week, Simon is over 60 days delinquent on an $85.6M loan backing a Boston-area mall for the second time in four months.

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The last three months of 2020 brought a new sense of optimism about the future of U.S. commercial real estate finance, as indicated by the CRE Finance Council’s Fourth-Quarter 2020 CREFC Board of Governors’ Sentiment Index.

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Mortgage applications for second homes soared 84% year-over-year in January, according to a new report from Redfin. While that’s down from a peak 118% year-over-year increase in September, it marks the eighth straight month of 80%-plus year-over-year growth.

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A new “future city” is set to spring up in China, featuring an urban design intended to combine industry and technology with the pastoral beauty of the countryside. The 4.6-square-mile site will include multiple new universities, laboratories and offices.

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Alignvest Student Housing announced the launch of Academic Assets in partnership with Patrick Miksa. Academic Assets is a real estate development vehicle which will focus on the purpose-built student accommodation and ancillary asset classes serving students and higher education institutions.

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Fewer duplexes, fewer large housing units, more units in large downtown rental towers with high rents: the Montreal apartment stock is changing, but not without creating pressure on the Plateau-Mont rental market -Royal, de Rosemont and Hochelaga-Maisonneuve.

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Long after the pandemic is over, employees at flexible workplaces could see more opportunities to work from home, sparking a potential decline in urban living and a “rural boom” instead, says the Brookfield Institute for Innovation and Entrepreneurship.

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According to Toronto realtor Keisha Telfer, boomers have a unique opportunity because their homes are in demand. “COVID has created a trend where young families are looking for three- and four-bedroom homes to raise their families,” said Telfer.

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