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Sunray Group buys 4 Ontario, Alberta hotels for $76.7M
Sunray Group buys 4 Ontario, Alberta hotels for $76.7M
A continuing recovery from the lows of the COVID-19 pandemic and strong fundamentals in Canada’s hotel industry are behind Sunray Group’s acquisition of four Ontario and Alberta hotels in recent weeks.
500-unit housing tower coming to Surrey City Centre
Western Community College (WCC) will be working with development and construction company Lark Group and real estate investment firm ICT Group to build 500 units of student and faculty housing in Surrey’s health and technology district.
Foreign investors will drive Canadian CRE in 2024: Morassutti
VIDEO: Paul Morassutti, chairman of CBRE Canada, joins BNN Bloomberg and shares why Canada looks appealing amid volatility and why real estate investor sentiment is expected to turn positive.
Grosvenor closes financing for Intracorp's huge Gardena dev.
Grosvenor’s Structured Development Finance business has closed on a $39.6 million financing commitment for Vancouver-based Intracorp’s multi-building Gardena residential development project in Coquitlam, B.C.
Very difficult building multires in Vancouver: Anthem
Speaking at a NAIOP breakfast meeting, Anthem Properties Group CEO Eric Carlson said it remains tough to accelerate Vancouver multiresidential development. “Capacity is constrained. Why is capacity constrained? Because there’s the approval process and because of the cost of capital.”
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Soaring construction costs stall Okanagan projects: UDI
It's getting more difficult and more expensive for developers to complete projects as building costs reach levels "not seen in a generation," according to Mark Holland, a representative of the Okanagan branch of the Urban Development Institute.
Ryan Beedie building on 70-year legacy of development
Under Burnaby-born Ryan Beedie's leadership, development company Beedie has expanded to markets in Ontario and Alberta, launched a residential arm called Beedie Living, continued to lead in the industrial market and made continuous philanthropic investments into local communities.
11-storey mixed-use proposed for Van.'s Mount Pleasant
Within Vancouver's Mount Pleasant Industrial Area, a transformative development has been proposed. Nicola Wealth and PC Urban are spearheading a project to redevelop their land assembly into a mixed-use building emphasizing 100% employment uses, blending modern design with historical preservation.
Vancouver's Nat Bailey Stadium set for $20M upgrade
Vancouver’s beloved Nat Bailey Stadium is set for a $20 million upgrade, an internal city memo shows, but it’s not entirely clear yet who will pay for what. For years, the Vancouver Canadians baseball club has been planning renovations for the 73-year-old city-owned baseball stadium.
Ottawa’s retail real estate faces challenges: JLL
Ottawa’s retail real estate market is expected to soften amid continued economic headwinds, according to Ottawa Retail Insight, Spring 2024, a new report by commercial real estate firm JLL.
What Bank of Canada needs to cut interest rates
VIDEO: Royce Mendes, managing director and head of macro strategy at Desjardins Group, talks with Financial Post’s Larysa Harapyn about how interest rate cuts are on the horizon despite the Bank of Canada’s current hold.
Dawson Wales proposes nine-storey condo building
Dawson Wales Global Inc. has proposed a nine-storey condo building at 12 through 20 Bentworth Ave. in the Yorkdale-Glen Park neighbourhood, a 12-minute walk west of Yorkdale subway station. The Wallman Architects-designed building would comprise 136 condo units.
Heritage designation throws wrench into Ott. church's plans
Église évangélique baptiste leaders say their hopes of selling the current church to help pay for another church in the Carlingwood area are evaporating after Ottawa's built heritage committee voted Monday to designate the church under the Ontario Heritage Act.
Target leaning into big boxes with planned 300-store expansion
Target plans to expand its footprint across the U.S. with more of its traditional, large-format stores. The Minneapolis-based retailer has a plan to open 300 stores within the next 10 years, with the majority of them full-sized.
Unibail-Rodamco-Westfield hasn't bailed on U.S. malls yet
Rocked by activist investors and the pandemic, Unibail-Rodamco-Westfield announced plans to sell by the end of 2023 the U.S. mall portfolio it had bought for $16B. Three months, later, however, URW remains a major player in the sector.
Hundreds of banks will fail/be taken over due to CRE: CEO
Hundreds of American banks will collapse or be taken over by 2026, RXR CEO Scott Rechler predicted due to more and more CRE loans will mature in the coming years, resulting in a "slow-moving train wreck" for smaller banks.
Debt-free Chicago buildings attract tenants
As work-from-home trends and rising interest rates reshape the commercial real estate landscape, some Chicago buildings are standing out by offering competitive lease terms without the burden of debt.
Losses up despite IWG hitting record sales
Hybrid work specialist IWG has reported a slightly larger pretax loss for 2023 despite its highest-ever revenues and restarting dividend payouts. The loss was related to one-off costs from closing locations and write-offs to do with a telephone system.
Enbridge to invest US$500M expanding pipeline, storage assets
Pipeline operator Enbridge (ENB-T) said on Wednesday it will invest about $500 million to improve its U.S. Gulf Coast presence. Enbridge said it will acquire two marine docks and land from Flint Hills Resources for about $200 million.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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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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