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Recent Articles

Killam acquires apartments in Edmonton, Moncton

4 years ago

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Halifax-based Killam Apartment REIT (KMP-UN-T) has closed on two apartment acquisitions, one near its own backyard in Moncton and the second in Edmonton. Both buildings also align with Killam’s strategic goals to source newer properties and diversify geographically.

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The Ontario government has cancelled funding for Hamilton’s $1 billion light-rail transit system in a chaotic afternoon that included a hastily cancelled press conference, city councillors facing down police, and transportation minister Caroline Mulroney leaving the city with a police escort.

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The Squamish Nation’s $3-billion, 6,000-unit project is exempt from B.C. rent controls, the foreign-buyer tax and the so-called speculation tax that governs all other homeowners in Metro Vancouver, a B.C. Ministry of Finance spokesman confirmed.

RENX   •   • 

Cadillac Fairview has a binding agreement to sell 50-per-cent interests in two flagship shopping malls to funds operated by TD Asset Management Inc. The TD funds are investing in CF Carrefour Laval in Montreal and CF Sherway Gardens  in Toronto.

Marcus & Millichap

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Starlight Investments announced it has completed the acquisition of a 44 building concrete, multi-residential, high-rise portfolio predominantly in the Greater Toronto Area comprising 6,271 rental units.

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First Capital Realty Inc. (FCR-T) announced Gazit-Globe Ltd. (together with its affiliates, “Gazit”) has sold a portion of its interest in FCR, reducing its ownership from approximately 9.9 to 6.7 per cent.

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KPMG introduced a new concept into its Global Construction Survey 2019 earlier this year, the Future-Ready Index, a way for the industry to measure how prepared they are for the future.

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There is plenty of “anxiety” in Saskatoon’s industrial real estate sector. Richard Jankowski, managing director of the Colliers International Saskatoon office, said people are wondering when the energy sector will recover and worrying about challenges in the province’s agriculture market.

CBRE Land Services

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Scott MacAulay, the owner of Cape Breton Resorts, says following the devastating loss of the main lodge in a June 2018 fire, plans are underway to rebuild. Meanwhile, a lawsuit continues launched following the fire in the Nova Scotia Supreme Court.

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There are only so many troubled government projects the province can afford to investigate, Premier Brian Pallister said as he explained his rationale for rejecting city hall’s request for a public inquiry into Winnipeg’s construction and real estate problems.

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Several downtown Toronto councillors are calling for more coordination on construction projects in the core in hopes of proactively boosting efficiency and road safety. There at at least 26 projects planned in the year ahead around downtown Yonge Street.

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Tim Hortons (QSR-T) is slimming down. At its newest café in Toronto, seating is restricted to a long communal table against one wall, and the decor is an attempt at a more modern look.

Happy Holidays - Real Estate Forum

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Montreal’s Observation Wheel restaurant, which was denied a liquor licence last spring because of concerns about management ties to the Montreal Mafia, has transferred ownership to Sandibe Global BV.

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DRA Advisors has acquired a $908.5 million U.S. industrial property portfolio from a Sealy & Company fund. As part of three planned liquidating distributions to investors, the Sealy Strategic Equity Partners (SSEP) fund said it has sold 106 industrial buildings to DRA.

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ConstructConnect announced  the latest month’s volume of U.S. construction starts, excluding residential work, was $34.3 billion, down 14.4 per cent from October’s figure of $40.1 billion (originally reported as $38.7 billion)

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The U.S. homeownership rate among young people has fallen significantly over the decade. However, 15 years from now, Gen Z will age into a more favourable market, according to a panel of economists and real estate experts.

Harbour Equity

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Sonder, which presents itself as a new type of hotel chain, has reserved premises in Montreal’s city centre as a site to establish its Canadian headquarters, La Presse has learned.

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The city is inviting public comment on its plans for the future of development in Edmonton. The final draft City Plan  outlines how Edmonton will change as it transitions from a city of one million to two million residents.

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B.C. has filed a lawsuit seeking to seize another property allegedly linked to a $200-million-plus international stock fraud. The $2.4-million property on Salt Spring Island is added to two properties the B.C. Civil Forfeiture Office is pursuing in Kelowna.

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Former residents of a Gatineau, Que., condo building demolished Monday say a government buyout won’t go far enough to help them rebuild after their months-long ordeal. The Chateau Saint-Louis at 1420 rue Saint-Louis flooded in April.

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