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Fast-growing Surrey development hotspot in Metro Vancouver
Fast-growing Surrey development hotspot in Metro Vancouver
Surrey is growing so fast it’s slated to become British Columbia’s largest city by the end of the decade - surpassing Vancouver itself. To help facilitate this projected growth, Surrey has just approved the Imagine Scott Road Visioning Study,
 | The Property Law Hub Double default: What happens when neither party is ready to close?Daniel WaldmanLawyer, Dickinson Wright LLP |
American investment firms pour billions into Canadian RE
The American real estate titan Hines Interests LP recently announced it is looking to invest $2 billion in Canadian real estate, focusing on apartment rental developments. Hines currently has $3.7 billion in assets under management in Canada.
$1.6B Halifax project apart from ‘anything N.S. has seen yet’
A Halifax construction project valued at $1.6 billion and that could last 12 years begins this week. Southwest Properties will build apartment buildings and single-family homes for 6,500 people on the former site of the Mount Saint Vincent Motherhouse.
Ewing predicts rotation back into REITs as rates come down
John Ewing of Ewing Morris Investment Partners is predicting investors will move back into REITS as borrowing costs fall. Ewing said in an interview with BNN Bloomberg he thinks “we’re at the beginning of a big rotation back into REITs.”
Real estate underperforms in pension fund mix
Real estate is the culprit for the more modest returns that four of Canada’s largest pension funds reported for the first half of 2024. But, according to Morningstar DBRS ratings firm, the pension funds remain buoyed by other asset classes.
'Hybrid is king' — but that could change as workplaces evolve
Neither fully remote nor fully in-office work has prevailed post-pandemic, according to a study on global trends in workplace models by Zoom Video Communications. Sixty-four per cent of IT and C-suite leaders report their workplace is using a hybrid model.
131-year-old Gastown office building to see new hotel uses
New hotel uses are planned for a large portion of a heritage building in Vancouver's Gastown district. A development application by RH Architects calls for a change of use at the three-storey building at 211 Columbia St.
GWL Realty makes 25-property buzzer-beater internal swap
The real estate investment adviser for one of Canada's largest insurers completed what could be the largest paper transaction in Q2 2024 in a move completed just before changes in the federal capital gains tax kicked in.
The success of the battery sector 'could be threatened'
Canada lacks critical minerals to meet future demand from large battery plants, according to a government document highlighting major gaps in the supply chain. Tens of billions of dollars will need to be invested to open many more mines.
Jersey Mike's opens first of 300 planned Canadian locations
Markham is getting its first taste of Jersey Mike's Subs today as the chain opens at 8600 Woodbine Ave. This is the first of 300 Jersey Mike's Redberry Restaurants plans to bring to Canada over the next 10 years.
Jasper wildfire caused $880 million in insured losses
The wildfire that ripped through Jasper National Park this summer and destroyed a significant portion of the Jasper townsite is Canada's ninth most expensive disaster for insurance payouts, according to the Insurance Bureau of Canada.
B.C. caps rent increases next year at 3%, matching inflation
The maximum allowable rent increase in British Columbia next year will be three per cent, down from the current 3.5 per cent. The Housing Ministry says the new amount, taking effect on Jan. 1, is tied to inflation.
Homebuilders say expanding public lands bank is a start
The properties in the expanded Canada Public Land Bank — including former military bases, Canada Post sites and federal office buildings — were previously earmarked for sale. However, under the new plan, they will be offered to developers on long-term leases.
Updated plans for Mount Dennis condo tower add 14 storeys
An Eglinton Avenue West residential development first proposed in June 2021 recently submitted an application to increase its storey count from 34 to 48, adding over 200 more dwelling units. The revised application was submitted by Gairloch Developments.
Three skyscrapers planned to rise on vast TO waterfront site
The first phase of the Sugar Wharf redevelopment added two condo towers and an office tower to the site. The second phase for the Menkes Development project plans towers of 90, 87 and 79 storeys, but could be years away.
Retailers fight for space as sector bucks doomsday forecasts
With leasing activity at a five-year high, scant amounts of available new space coming to the U.S. retail market and consumers ready to spend, the so-called retail apocalypse of the 2010s is fading into a distant memory.
Blackstone is said to seek $3.7B loan for AirTrunk bid
Private equity firm Blackstone Inc. (BX-N) is in discussions with banks for a five-year loan of about $3.7 billion US to back its bid for Australian data centre operator AirTrunk, people familiar with the matter said.
Plans revealed for Citadel’s Miami supertall HQ tower
Citadel CEO Ken Griffin filed plans for the hedge fund's 1,032-foot-tall Miami headquarters, revealing plans for a tapering supertall with office space topped by a hotel. The hedge fund's leader is planning the tower for 1201 Brickell Bay Dr.
CVC joins group backing Swedish property manager Odevo
CVC Capital Partners Plc has agreed to take a stake in Swedish property manager Odevo AB. The private equity firm will join a group of investors led by Fidelio Capital. The transaction values Odevo at more than $3 billion US.
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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