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Crown Realty Partners expands Ottawa property management footprint

6 days ago

Crown Realty Partners expands Ottawa footprint

Crown Realty Partners has taken over from Colliers as the property manager for downtown Ottawa’s three-building, 946,000-square-foot Minto Place office and retail complex. The addition of Minto Place brings Crown’s Ottawa footprint to more than four million square feet.

Major step forward for 5,600-home Oakville plan

The Rose Corporation's proposal for a master-planned community in Oakville with 14 new buildings and 5,600 homes has taken a major step forward after receiving key approvals from the town last night.

$20B, 1-GW data centre proposed west of Edmonton

Emerald Energy Technologies is proposing to build a power-generation facility and a data centre called Malachite One. The proposed site is on Crown land, adjacent to Tourmaline’s active Banshee gas plant, about 40 kilometres southwest of Edson in Yellowhead County. 

Holborn-affiliate buys Vancouver office tower for $74M

Toronto-based Allied Properties REIT (AP-UN-T) has sold a downtown Vancouver office tower to its next-door neighbour. It sold last month to Maxfine International Ltd., an affiliate of Vancouver-based developer Holborn Group, for $74 million, according to industry sources.

RioCan sells FourFifty The Well stake for $155M

RioCan Real Estate Investment Trust has sold its 50 per cent interest in FourFifty The Well, the purpose-built rental tower within The Well development in Toronto, to existing partner Woodbourne Capital. Green Street reported that RioCan received $155 million.

Wildflowers by Mattamy Homes: Designed for the way you live

Discover the return of Wildflowers to Kitchener, a neighbourhood that blends urban vibrancy with suburban embrace to create a lifestyle of adventure.

Sponsored by: Mattamy Homes

Hamilton council votes down data centre ban

Hamilton won't be imposing a temporary ban on the development of data centres, council has decided. The vote was split 10 against and six in favour of pausing development on data centres in the city for one year.

50-storey 'Music City' hotel proposed for Niagara Falls

Official Plan and Zoning By-law amendments would pave the way for one of the tallest buildings in Niagara Falls, with the 50-storey Music City Hotel now the tallest development proposed in its Clifton Hill area.

Closing date set for $2.3B Minto take-private transaction

Minto Apartment REIT (MI-UN-T) has secured the remaining CMHC and lender approvals needed to complete its previously announced $2.3-billion going-private transaction. An affiliate of Crestpoint is expected to acquire the outstanding trust units, with closing around Aug. 7.

PROREIT completes $21.7M industrial property acquisition

PROREIT (PRV-UN-T) has completed its $21.7-million acquisition of four industrial properties in Winnipeg totaling 164,872 square feet. The purchase was funded through $14.1 million in new mortgage financing and $7.6 million from its recent equity financing.

Real estate podcasts

Jerry Shi: How AI is hurting CRE, Vancouver CRE Podcast
The first-time buyer is now 40 years old, Canadian RE Investor
Why capital is chasing too few deals, CRE Podcast

Economy, affordability are pressure points for homebuyers

The biggest pressure points in Canada’s home-buying market are affordability and economic uncertainty, a new poll from RBC suggests. The report also found that most Canadians believe there is no such thing as a perfect time to buy a home.

Housing starts in June down 6% from May: CMHC

Canada Mortgage and Housing Corp. says the annual pace of housing starts in June fell 6 per cent compared with May. The seasonally adjusted rate of housing starts came in at 238,971 units in June compared with 253,083 in May.

Milhaus merger creates $2.5B development pipeline

Indianapolis-based Milhaus and Newport Beach-based SRG Residential have completed a merger, forming a national multifamily platform to develop, own and manage apartment communities. Together, they have US$2.5B of total investment activity and over 50,000 apartments under third-party management.

Dubai property tycoon plans $20B development in Syria

Dubai-based property tycoon Mohamed Alabba is planning two large-scale housing and tourism developments in Syria worth at least US$20 billion, which would build tens of thousands of homes and other facilities in Latakia and Damascus.

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