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Forum becomes biggest player in Canadian student housing

1 month ago

Forum becomes biggest player in Canadian student housing

Forum Asset Management’s pending $1.7-billion acquisition of Alignvest Student Housing REIT's nationwide, 17-property portfolio is just one pillar in efforts to consolidate its position as Canada’s largest supplier of purpose-built student accommodations (PBSA).

Toronto proposes fee and tax incentives for rental builders

In a bid to increase rental supply, Toronto is dangling the promise of fee waivers for rental builders willing to offer a fifth of units at more moderate prices and rental building owners could be charged less in property taxes.

Canada Lands development Downsview West takes shape

OPINION - The biggest development project in Toronto is moving forward. This week, Canada Lands Company submitted its application for a “district plan” of Downsview West, a 30-hectare area that could include 8,800 homes in buildings up to 60 storeys.

Westcliff acquires Champlain Place, largest mall in N.B.

Westcliff has acquired the 784,372-square-foot Champlain Place shopping centre in Dieppe, just outside Moncton, as former owner Cadillac Fairview continues divesting major retail properties in a realignment of its investment allocations.

First Capital sells 50% stake in Vancouver project for $29M

Toronto-based First Capital REIT (FCR-UN-T) announced its Q3 2024 results on Tuesday, which revealed the REIT has sold its stake in a mixed-use project in North Vancouver called the Victor. 

Acconto's novel lease deposit financing

Acconto Financial Corporation is excited to promote its novel specialty loan offering to small- and medium-sized enterprises. Acconto assists tenant-businesses by providing a point solution through the funding of up-front lease deposit and pre-paid rent amounts during the leasing process.

Sponsored by: Acconto Financial Corporation

Mixed-use community proposed for Scarborough

A new mixed-use community proposed for 1911-1921 Eglinton Ave. E. by Samuel Sarick would transform a key site within Scarborough's Golden Mile. The development entails eight buildings ranging from 10 to 53 storeys, including residential, office, retail and community spaces.

Two Toronto row houses converted to net-zero office space

For Francisca and Mike Quinn, old buildings aren’t obstacles, they’re opportunities. Their latest project transforms two historic row houses into one of Canada’s rare net-zero office spaces, proving that sustainability and heritage can go hand-in-hand.

Canadian hotel development reaches historic heights

The latest Lodging Econometrics data from Q3 2024 reveals unprecedented growth in Canada’s hotel development pipeline, with key indicators suggesting an expansion phase is underway. The total pipeline has reached an historic peak of 327 projects (40,799 rooms).

Proposed changes to Kelowna hotel head to public hearing

City council will decide if a Kelowna hotel proposed by Northlands Properties can rise from three storeys to six at an upcoming public hearing. The Sutton Place Hotel development was first unveiled during a new conference in January 2024.

New Fredericton mall filling up, No Frills next to move in

New businesses, including a low-cost grocery chain, are starting to move into a plaza development in Fredericton, N.B. that’s been under construction since last year. Ross Ventures acquired the land in 2022 and broke ground for the mall last year.

Cantiro launches new fund for real estate investors

Real estate development company Cantiro has announced the creation of an innovative investment vehicle designed to generate long-term growth and value through real estate projects in Western Canada and southern Ontario.

Business leaders call on Montreal to revitalize Chinatown

Merchants and developers have come together under the Montreal Chinatown Development Council. They are looking for ways to revitalize a district hampered by street closures, high business taxes and years-long permit times for new housing projects.

Over half of B.C.'s small businesses report surge in crime

A report last week from the Canadian Federation of Small Business says a majority of Canadian small businesses reported a surge in crime over the last year, with the highest jump in B.C.

Office design trends - what’s in, what’s out?

As hybrid models, employee well-being and sustainability continue to be centre stage, many traditional office elements are quickly fading and more adaptive, people-centric solutions are emerging. Companies are rethinking their workspaces entirely.

Google's parent shells out $607M to cut office space

Alphabet, the parent company of Google, is forking over hundreds of millions of dollars to reduce its office space across the globe, part of the company's ongoing effort to drastically scale back its real estate footprint.

Macerich lands $525M for Queens mall

Macerich has refinanced Queens Center, a 968,000-square-foot shopping mall in Elmhurst, N.Y. The owner obtained a new US$525 million loan that features a fixed interest rate of 5.37 per cent and interest-only payments.

U.S. foreclosures pick up, starting with the largest landlords

As more loans approach maturity and liquidity returns to the market, foreclosure actions are on the rise in the U.S. Lenders are increasingly reaching for the keys — starting with high-profile properties.

REITs using reinvestment as offensive and defensive capital strategy

REITs searching for growth opportunities have been looking closer to home in the form of capital investment in existing assets that generate accretive value. Recent research shows REITs invested an estimated US$120.9B during 2023 in capital expenditure.

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