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Atria breaks ground on Toronto's 1,600-unit Town Centre Place
Atria breaks ground on T.O.'s 1,600-unit Town Centre Place
Atria Development paid less than $2 million two decades ago for a greenfield site across from Toronto’s Scarborough Town Centre. Today, it's developing the largest purpose-built rental complex to begin construction in the GTHA in 2023 or 2024.
Demand rising for hotel construction: CFO Capital
Demand for hotel construction has returned and, with financing being made available for the sector, CFO Capital president and principal broker Mark Kay said there are more projects underway now than prior to the pandemic in 2019.
Mizrahi pushed out of The One development
In a meeting on Monday, Mizrahi Developments founder and president Sam Mizrahi told employees his company would no longer oversee construction of The One, a star-crossed condo tower on the southwest corner of one of Toronto’s most iconic intersections.
 | The Apartment Building Expert Montreal: The model for Canadian residential rents?Derek LoboFounder and CEO , SVN Rock Advisors Inc. |
CPP office deals uncover anxiety among longtime buyers
Canadian pension funds have been among the world’s most prolific buyers of real estate. Now CPP Investments - the largest of them - is taking steps to limit its exposure to the most-beleaguered property type - office buildings - raising concern.
OPINION: Slate CEO makes the toughest call in CRE
Slate Office REIT interim CEO Brady Welch (SOT-UN-T) is determined to get ahead of an expected flood of distressed office building sales, putting $120 million worth of properties up for sale – roughly 10 per cent of the company’s portfolio.
 | Canada Green Building Council How will COP28 impact Canada’s real estate sector?In December, the Canada Green Building Council (CAGBC) participated in the Dubai UN Climate Change Conference or COP28. Thomas Mueller, President and CEO of the Council, shares high-level takeaways from COP28 that will impact Canada’s real estate sector. Sponsored by: Canada Green Building Council |
CRE sector faces mixed-growth prospects in 2024: JLL
JLL noted in its 2024 outlook that broader momentum across Canada’s commercial real estate (CRE) sector will make a return as the year progresses. However, close attention should be paid to debt financing strategies amid the current high-rate environment.
Canada's 1.5% national vacancy rate lowest since 1980s
The Canada Mortgage and Housing Corporation 2024 Rental Market Report says Canada faces the lowest national vacancy rate since the 1980s - 1.5 per cent - and a sharp eight per cent increase in rents, above the 2.8 per cent historical average.
Alignvest acquires 53-unit student housing asset in Ottawa
Alignvest Student Housing announced Alignvest Student Housing REIT has completed the acquisition of a purpose-built student accommodation at 417 Nelson St. in Ottawa. The modern four-storey building features 94 beds in 53 fully furnished units.
Smart Living proposes 9-storey Ottawa rental building
Smart Living Properties plans to construct a nine-storey building with 421 rental apartments at 112 and 134 Nelson St., just north of Rideau Street and a block east of King Edward Avenue in Ottawa.
Foreign direct investment in Montreal fell 24% in 2023
Foreign direct investment in the Montreal area slumped 24 per cent last year as technology companies scaled back expansion plans and some industrial projects were scrapped due to a lack of available power.
Canadians flocking to discount merchants: Colliers
“High borrowing costs and inflation are pushing consumers to economize on food, home supplies and recreation, and this is clearly driving traffic to discount merchants,” Colliers analysts maintain. “Staple workwear and downtown brands experienced a decline in 2023 . . ."
G2S2 increases investments in Morguard REIT
G2S2 Capital Inc. announced its wholly owned subsidiary has acquired ownership of, and control over, an additional 152,900 trust units of Morguard REIT (MRT-UN-T). Armco Alberta Inc., acquired 152,900 units at a price of $5.28 per unit.
U.S. CRE woes to stay contained if no recession: JPMorgan
JPMorgan Chase & Co. CEO Jamie Dimon said problems in commercial real estate will be contained to “pockets” of the sector as long as the U.S. avoids a recession. Many property owners can handle the current level of stress, he said.
Prime Data Centers planning $1.3B campus
California-based developer Prime Data Centers is planning a major campus in a rural county outside of Austin. The proposed $1.3 billion project would see a “turnkey” data centre campus developed on 206 acres in Caldwell County.
Owner of Trump’s former D.C. hotel defaults on $285M loan
Less than two years after acquiring a high-end D.C. hotel from The Trump Organization, CGI Merchant Group this month defaulted on a $285 million loan tied to the Waldorf Astoria hotel at 1100 Pennsylvania Ave. N.W.
FTC sues to block Kroger-Albertsons $25B merger
The Federal Trade Commission (FTC) has taken legal action to halt the proposed $25 billion merger between Kroger and Albertsons, calling it potentially harmful to consumers. The merger is slated to be the largest in U.S. supermarket history.
Macy’s to close 150 namesake stores
Macy’s Inc. (M-N) said it plans to close almost a third of its namesake U.S. locations as the department-store chain fights off a pair of activist firms seeking to buy the company.
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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