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Manga is buying, and building, to grow its hotel portfolio

1 week ago

Manga is buying, and building, to grow its hotel portfolio

Manga Hotel Group has opened two hotels and acquired two others this year, and its lengthy development pipeline provides more reasons why president / CEO Sukhdev Toor’s optimism about the asset class was justified even during the severe COVID-19 downturn.

Purpose-built rentals: Why townhomes are the next frontier

GUEST SUBMISSION: The rental landscape in Canada has seen significant shifts over the past few years. With homeownership increasingly out of reach, rentals have surged in demand. 2024 marked the country's highest increase in purpose-built rental construction, further highlighting demand.

Ontario moves to block plans for Toronto apartment complex

A Toronto developer says a rarely deployed Ontario ministerial power is being used on behalf of a pharmaceutical manufacturer to block plans for a rental apartment complex. Tenblock Development has proposed three residential buildings of 14, 33 and 39 storeys.

106-storey skyscraper in Toronto crosses huge milestone

The gargantuan Pinnacle SkyTower is fast approaching its final 106-storey height at the foot of Yonge Street, and the instant Toronto landmark just crossed an impressive milestone on its way to becoming Canada's new tallest building.

Over 700 large buildings sign on to BC Retrofit Accelerator

More than 700 buildings in B.C., including multifamily and commercial buildings, are getting support from the BC Retrofit Accelerator to identify and execute upgrades to reduce their carbon footprint and to make the buildings more comfortable.

Demisability: How racking design can save buildings

Subdividing industrial buildings requires more than demising walls and separate entrances. Racking infrastructure becomes surprisingly complex in demised spaces, creating challenges that developers and agents need to understand before tenants move in.

Sponsored by: North American Steel

Low-flow basements could restart stalled housing projects

A technical change beneath Toronto’s streets has created a roadblock for new housing. Since early 2022, the city’s foundation drainage policy has required most new buildings to use watertight basements.

Sonder to file bankruptcy, liquidate after Marriott cuts ties

Sonder Holdings Inc., a boutique apartment rental company founded in Montreal but now headquartered in San Francisco, said it’s going to file for bankruptcy after the cash-strapped company lost a key partnership with Marriott International.

Canadians to spend $9.3B on Black Friday, Cyber Monday

Canadian consumers are expected to spend nearly $9.3 billion during Black Friday and Cyber Monday, an increase of about $1.7 billion compared to last year, according to a survey by ecommerce marketing company Omnisend.

Why some Toronto renters are avoiding new builds

Torontonians are opting out of moving into new builds for reasons ranging from a lack of rent control to poor layouts — at a time tenants are increasingly gaining leverage in the market. 

Algorithmic rent pricing a 'concern,' but not widespread

The federal Competition Bureau says it hasn’t found evidence that using computer software to recommend rent prices reaches the point of anti-competitive behaviour, but it remains concerned about possible issues. 

Decoding the Major Projects Office

The federal budget has committed $214M to the Major Projects Office as “a single point of contact to get nation-building projects built faster” – not just those designated under Bill C-5, and not just for regulatory expedition.

Quebec looks to Caisse investments, data centres for growth

The Quebec government is leaning harder on pension fund giant Caisse de dépot et placement du Québec to boost the economy as Premier François Legault doubles down on state interventionism to shield the province in the face of mounting trade turmoil.

RioCan reports $120M loss in Q3 on writedowns

RioCan REIT (REI-UN-T) reported a net loss in its latest quarter as it wrote down the value of some investments along with its joint venture with HBC, while its core retail portfolio continued to show strong rent growth.

Manhattan’s office sector defies national slowdown

As of September, Manhattan’s office sector continued to defy national trends, according to Yardi Matrix. This despite many U.S. metros grappling with elevated vacancies and a slowdown in space absorption following years of heavy construction.

Banks are lending to CRE at 2019 levels

CRE debt issued by banks is up 85% compared to 2024, reaching $227B, roughly in line with 2019. The resurgence of bank lending marks a turning point after a slow couple of years, when alternative lenders financed CRE projects.

Blackstone refinancing 10 QTS data centres with $3.5B CMBS loan

Investment giant Blackstone is expected to close a US$3.46B CMBS offering to refinance a portfolio of data centres owned by subsidiary QTS, a deal that would reportedly be the largest of its kind this year.

BC Partners inks SCM insurance deal to form $4.3B group

Davies Group, the U.K. insurance services firm controlled by BC Partners, has agreed to acquire Canadian claims processing and risk solutions provider SCM Insurance Services. The transaction values the combined businesses at US$4.3 billion (£3.25B) including debt.

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