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Calgary's office conversion surge drives downtown business boom

3 days ago

Calgary's office conversion surge drives downtown boom

Calgary's downtown office-to-residential conversion program is showing signs of broader economic impact, with new business licence activity near conversion projects more than tripling since 2021 as vacant office space is transformed into housing, hotels and other uses.

Dream, CPP acquire $585.8M GTA industrial portfolio

A joint venture between CPP Investments, Dream Unlimited Corp (DRM-T) and Dream Industrial REIT (DIR-UN-T) has acquired a 2.1-million-square-foot industrial portfolio in the Greater Toronto Area for $585.8 million.

True North Commercial REIT sells office tower for $57M

True North Commercial REIT (TNT-UN-T) has entered into an agreement for the sale of a 209,400-square-foot office property in Calgary for $57 million. The deal is expected to close on or around Dec. 14.

Morguard finalizes $1.1B deal for TD residential assets

Morguard Corporation (MRC-T) and Morguard North American Residential REIT (MRG-UN-T) have provided an update on their acquisition of a residential portfolio owned by TD Asset Management. The buyers have completed due diligence, waived purchaser conditions, and finalized property ownership allocations.

Second proxy adviser recommends against H&R deal

The multibillion-dollar deal to sell one of Canada’s largest property portfolios was dealt another blow on Monday as proxy adviser Glass, Lewis & Co. urged H&R Real Estate Investment Trust unitholders to oppose a planned sale.

Cogir Real Estate expands its Western Canadian presence, building on 30 years of expertise

From multi-residential property management in Alberta, to a growing retirement living portfolio in Manitoba, Cogir is bringing its national expertise, experienced teams and values-driven approach to new opportunities in Western Canada.

Sponsored by: Cogir Real Estate

 AI-debt selloff hits Canadian maple bond performance 

A global AI-debt selloff is spreading to Canada as a wave of deals by Alphabet Inc. and other tech titans flood the small market, amplifying the country’s exposure to foreign credit swings.

NCC seeks bids for Ottawa’s newest landmark district

The National Capital Commission (NCC) is inviting development partners, businesses, cultural organizations and destination operators to express interest in shaping the future Aqueduct District at LeBreton Flats. The area is located immediately adjacent to a planned 16,000-seat events centre.

Nova Scotia to get new luxury course

A golf resort brand is expanding its footprint in Atlantic Canada. Scheduled to open in 2028, Cabot is expanding its portfolio with a third course in Nova Scotia, Cabot Wilds, located on the rolling foothills of the province's Cobequid Mountains.

RioCan raises earnings outlook, hits record occupancy

RioCan REIT (REI-UN-T) expects its 2026 earnings to reach the high end of its previous forecast after reporting 5.1 per cent growth in third-quarter core funds from operations per unit and a record retail committed occupancy of 98.9 per cent.

Starwood, Trez partner on U.S. residential land financing

Starwood Capital Group and Trez Capital have entered into a strategic partnership that will focus on origination of residential land acquisition and development loans for single-family communities across the United States. 

Strategic Storage trusts complete merger, create $1B REIT 

Public non-traded REIT Strategic Storage Trust VI has completed an all-stock merger with private affiliate Strategic Storage Growth Trust III. The deal creates a combined entity exceeding US$1 billion in total assets.

Brookfield, QIA to Invest $3.4B in Drax data centre

Brookfield Asset Management and the Qatar Investment Authority have reached an agreement to invest US$3.4 billion in a data centre project with U.K. power generator Drax Group Plc.

OpenAI rebrands data centres as ‘compute campuses’

OpenAI is mounting a public relations offensive to rehabilitate the image of data centres as opposition moves from town halls to the ballot box. The company behind ChatGPT is proposing a new term for the facilities: “compute campuses.”

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