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After record 2024, VA Capital plans more growth, new debt fund

3 weeks ago

After record '24, VA Capital plans more growth, new debt fund

A focus on Quebec-only lending has paid off for commercial mortgage broker VA Capital with a record 2024 that saw the firm arrange $2.25 billion in commercial loans for clients, president Jeffrey Soliman says.

$975M earmarked for Toronto’s waterfront transformation

Nearly a billion dollars has been earmarked for the ongoing transformation of Toronto’s waterfront, government officials say — with the new money helping fund the construction of some 14,000 homes at Quayside and the new island of Ookwemin Minising. 

Vaughan sets sights on a towering new downtown

Planners and developers are determined to build a towering downtown in Vaughan, that’s both walkable and accessible by transit – a tall order for the city just north of Toronto that’s looking to grow its density and offer more jobs.

Sole tenant abandons Keltic's new Nexus MOB in Vancouver

UPDATED: Global healthcare technology firm Masimo has cancelled plans to expand to Vancouver, leaving Keltic Development to find a new tenant for its state-of-the-art, 10-storey Nexus medical office building being constructed beside the St. Paul’s Hospital site.

Another 'crisis' looms as GTA new home sales crash: BILD

New home sales in December plummeted to the lowest level in almost four decades in the Greater Toronto Area, according to a building industry group, capping off a “historic” year with the worst annual total sales since 1990.

Metro Vancouver is squeezing out locals, Sutton CEO says

“We’ve got a whole bunch of people, from all over the world, who use Vancouver as a resort,” Ross McCredie, CEO of Sutton Group, says. “And you start thinking, ‘How can our kids compete to buy real estate?'"

Commercial real estate in Canada 2025: Opportunities in a changing policy environment

The Canadian economy and real estate markets shifted significantly over the course of 2024, driven by the Bank of Canada charting the most aggressive course of rate cutting among major central banks.

Sponsored by: Trez Capital

Developers chosen for Montreal’s old bus terminal project

The City of Montreal has selected development firms Mondev and UTILE to execute the construction of a housing project that will see 1,000 rental units built at the southern end of the site of the old Voyageur bus terminal.

2024 hotel construction pipeline saw unprecedented growth

The 2024 Q4 Canada Construction Pipeline Trend Report by Lodging Econometrics has revealed significant growth in Canada's hotel construction sector. The pipeline has reached a record high of 333 projects, or 43,413 rooms, marking a 13 per cent year-on-year increase.

Delta changing DCC collection time could be 'game-changer'

Delta council will have staff conduct a financial analysis on delaying collection of all development cost charges (DCC) to time of issuance of occupancy permits instead of at time of a subdivision application or issuance of a building permit.

Toronto’s chief planner wants to make the city joyful again

New chief planner Jason Thorne says the housing push must not only prioritize utility, but beauty in design. “We can’t lose sight of that in this drive to deliver as much housing as we can,” he said.

CTF attempting to legally block capital gains tax hike

Despite no legislation ever being passed, Canada’s tax collector remains intent on enforcing an increase to the capital gains tax. The Canadian Taxpayers Federation has filed a legal challenge against the move.

Saks Food Hall closes in Toronto's Hudson Bay building

The Saks Food Hall by Pusateri’s, located beneath the Saks Fifth Avenue store at the Hudson’s Bay building in downtown Toronto, has officially closed its doors. The closure comes in the wake of Pusateri’s filing for bankruptcy protection.

London Drugs may leave Vancouver's troubled DTES

Crime and anti-social behaviour on Vancouver's Downtown Eastside (DTES) has anchor tenant London Drugs considering leaving the Westbank-owned Woodward building. What happens at Woodward’s affects the whole of the nearby Downtown Eastside, which starts just over one block away.

Metro reports higher first-quarter profit, boosts dividend

Metro Inc. (MRU-T) reported a four-per-cent increase in profits in the first quarter, and boosted the dividend paid to shareholders, as the grocery retailer emerges from a “transition year” and says it plans to return to growth.

Snowbirds rush to sell Florida homes as loonie tanks

Many snowbirds are scrambling to sell their homes in Florida due to a weak loonie and high insurance costs. Canadians made up nearly one-quarter of foreign sellers between April 2023 and March 2024 versus 11 per cent a year earlier.

Spitzer eyes $1 billion sale of NYC building on Fifth Avenue

Spitzer Enterprises, the real estate firm run by former New York governor Eliot Spitzer, and its partner are exploring a sale of a luxury apartment building overlooking Manhattan’s Central Park, which could be worth up to US$1B.

NYC owner of 9 West Tower eyes new billionaires’ row development

Soloviev Group has long owned the Manhattan office tower at 9 West 57th St., famous for its pricey rents and list of major financial tenants. Now, the property firm is planning another large project across the street.

Supertall Miami tower scrapped in sign of weaker demand

Swire Properties Inc. has scrapped plans for a supertall tower in Miami’s Brickell neighborhood, as the large development in the heart of the region’s financial centre faced challenges luring tenants.

Amazon signs Miami Wynwood area's largest-ever lease

Amazon’s new home in Miami won’t arrive overnight — but it’ll be a record delivery for the office market. The global e-commerce giant spent the last two quarters searching for prime office space and found it in Wynwood.

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