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Gap between AAA, lower office classes hits record 890 BPS

6 days ago

Gap between AAA, lower office classes hits record 890 BPS

AAA offices in downtown Toronto, Montreal and Vancouver have substantially outperformed other inventory in vacancy, availability, rental resilience and tenant space usage over the past five years and are poised to remain the cornerstone of demand for owners and occupiers.

Canada's retail CRE continues to perform well

Canada’s retail real estate has generally performed well of late and is also playing a growing role in mixed-use developments to position itself for long-term success.

Caisse drops the names Ivanhoé Cambridge and Otéra Capital

Caisse de dépôt et placement du Québec has quietly announced the abandonment of its Ivanhoé Cambridge real estate brand. The institution now wishes to be called "La Caisse" — whether for its investment, real estate investment or mortgage lending activities. 

Real estate developer went from mogul to most wanted

Gareth West's public persona as a real estate developer, crafted through years of buying apartment complexes in southern Ontario and building homes in the Montreal suburbs, was a facade. Now he's wanted for allegedly masterminding Canada’s largest grandparent scam network.

81-acre resort plan for Muskoka seeks MZO

Concerns are being raised about a development slated for the shores of Lake Muskoka. The plan would transform 81 acres into a resort with two luxury hotels, multi-unit residences, two restaurants, a spa, retail and other food services and docks.

Club Med wants to open a 300-room hotel in Mont-Tremblant

After Charlevoix, Club Med wants to build a second hotel in Quebec, in Mont-Tremblant. In partnership with Mont-Tremblant Resort and the Brivia Group, the global giant wants to build a 300-room holiday village at Versant Soleil.

Hazelview and First National secure major CMHC loan

Hazelview Investments, with financing from First National Financial LP, has secured one of the largest CMHC-insured loans under the MLI Select program to develop 856 purpose-built rental homes at Bloor Street West and Dufferin Avenue in Toronto's West End.

Sponsored by: First National Financial LP

Make way for a new district on the former site of the NFB

The master plan for the redevlopment of the National Film Board's headquarters in Montreal, which covers an area over 527,000 sq. ft., has been unveiled. The project will include residential, commercial and office space as well as a culture centre.

HBC to change name, landlords concerned over lease deal

Just weeks after shutting all its department stores across Canada, Hudson’s Bay Co. is seeking to shed its historic name. The company will return to court Monday seeking approval to change the names of its corporate entities.

QuadReal, Marcon set to open TriCity Pavilion in Vancouver

Marcon and QuadReal Property Group, have announced the official grand opening of TriCity Pavilion (2968 Christmas Way) on July 12 in Vancouver. Spanning 12,000 square feet, the pavilion will house two hospitality brands, Nemesis and Gigi’s.

Building permit issued for redevelopment of B.C. mall

Construction should begin soon on redevelopment of the former Dilworth Shopping Centre. The owners were issued a building permit last week valued at $24.8 million. Four residential buildings are planned for the site and 15,000 square feet of commercial.

QuadReal revises Capilano Mall redevelopment plan

The preliminary planning for the major redevelopment of Capilano Mall has reached a significant milestone with the submission of an Official Community Plan amendment application to the City of North Vancouver.

Small-town Ontario builder finds niche with older homebuyers

Designing the Serviceberry, a detached home aimed at older homebuyers who comprise many of the customers in the town of Brighton, Ont., has not only led to sales success for Gordon Tobey Developments. It also led to national recognition.

Ontario may remove urban design from dev. applications

In a bid to speed up development, the Ontario government is proposing limits on what cities can ask builders for — scrapping their power to request information about shadows, wind, lighting and urban design, which can prolong the application process. 

Residential construction strike in Quebec ends

The residential construction strike, which began on May 28, has ended after three weeks, both parties confirmed Wednesday evening. An agreement in principle was reached to renew the collective agreement in residential construction, which had expired April 30.

Real estate podcasts

Jeffrey Berger, TDB Advisory: Distressed assets & rise of receiverships, CRE Library
Mitchell Blaine, JLL: How tariffs are reshaping industrial, CRE Podcast
Andrew Laurie & Brett Jeffrey, Rain City: Is industrial coming back? VCREP

CPP Investments commits $720M to Nido Living's acquisition of Livensa

Canada Pension Plan Investment Board has committed up to $720 million to support the continued growth of Nido Living's purpose-built student accommodations platform in Europe. The commitment will support Nido in its acquisition of Livensa Living.

Peninsula Capital acquires 959 U.S. single-family rental units

Peninsula Capital Corp., a Canadian real estate investment firm specializing in single family residential rental housing, has announced the acquisition of a portfolio of 959 single-family rental units across four high-growth U.S. markets in the Midwest.

Texas Instruments plans $60B investment in U.S. facilities

Dallas-based semiconductor manufacturer Texas Instruments plans to invest more than $US60B in seven fabrication plants in Texas and Utah, it announced Wednesday. The largest megasite is in Sherman, Tex., which is slated to receive US$40B.

Blackstone snaps up stakes in office buildings leased by Meta

Blackstone Inc.’s real estate business purchased stakes in two office properties in Bellevue, Wash., that are leased by Meta Platforms Inc. Owner Shorenstein Investment Advisers sold an interest in the two buildings to funds affiliated with Blackstone.

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