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Recent Articles

Dori Segal reflects on the rise of First Capital Realty

5 years ago

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Dori Segal launched First Capital Realty Inc. with the 2000 acquisition of Centrefund Realty Corporation and helped build it into one of Canada’s largest owners, developers and operators of necessity-based real estate.

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El Condor Lands, the developer behind a major project in Calgary’s Chinatown, is walking away from $350-million plans to build two condo towers and a hotel on 2nd Avenue S.W. — at least for the time being.

RENX   •   • 

Time Out Market Montreal, the 40,000-square-foot food and culinary centrepiece of Ivanhoé Cambridge’s Montreal Eaton Centre revitalization, unveiled eight future tenants Tuesday. They include several of Montreal’s top chefs including Normand Laprise, Charles-Antoine Crête, Jeffrey Finkelstein and Claude Pelletier.

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InterRent Real Estate Investment Trust (IIP-UN-T) is purchasing five apartment properties in Montreal in a series of transactions valued at $204 million. The buildings will increase the trust’s portfolio in Montreal to 20 properties containing 2,735 units.

CMLS Commercial Mortgage Commentary

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Commercial real estate sales in the Lower Mainland fell significantly year-over-year in Q1 2019, according to data by Commercial Edge, the Real Estate Board of Greater Vancouver’s (REBGV) commercial real estate sales tracking system.

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City officials and a new studio group have announced plans to build a massive film and TV hub in Hamilton. The “Hamilton Studio District” will include a production campus, studios for post-production, animation and visual effects, office buildings and more.

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Regina’s Global Transportation Hub head office looks out on a barren landscape, fronting a vacant building lined with “for lease” signs. Now that head office is up for lease too. A sublease, to be specific.

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An outdoor parking lot in the downtown St. John’s area will be turned into an office and retail building, after council approved the design for a new development. The space is being developed by Montreal-based Alre Properties.

Centurion REIT

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PM Justin Trudeau and cabinet have again approved the Trans Mountain expansion project, a crucial next step for the much-delayed pipeline project designed to carry nearly a million barrels of oil from Alberta’s oilpatch to the B.C. coast each day.

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Preferred buyers of the Molson brewery property, Montoni and Sélection will have as their principal financial partner the Fonds immobilier de solidarité FTQ. The sale of the Molson lands to the buyers’ consortium is expected to be completed this month.

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Library and Archives Canada’s new preservation centre in Gatineau, designs of which were unveiled Tuesday, will be the federal government’s first “net-zero-carbon” building. The LAC centre’s construction, valued at $330 million, is part of a public-private partnership.

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With a new LRT station to be built just steps away from its Ottawa property, First Unitarian Congregation of Ottawa is laying the groundwork to open its site for development and smooth out any future financial bumps.

Stewart Title

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The Fairmont Château Laurier expansion project at the edge of the historic Parliamentary precinct has drawn overwhelming opposition from inside the capital and beyond, but the politicians of Ottawa’s municipal government have lost control over the final design.

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Scott Gravelle, CEO/CTO of ATTAbotics has chosen Modern Office of Design + Architecture, led by University of Calgary EVDS graduates Ben Klumper and Dustin Couzens, to design a 120,000-square-foot building in the YYC Global Logistics Park.

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Holloway Lodging Corp. (HLC-T) announced it has sold its Super 8 and Travelodge hotels located in Timmins, Ont. The sale price was $11.4 million representing a cap rate of approximately 9.8% and a price per room of approximately $70,000.

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BSR REIT (HOM-U-T) announced it has sold two additional non-core assets as part of its portfolio enhancement and capital recycling strategy. The total consideration received for the Little Rock, Ark., apartments was $22.1 million.

BOMA

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Canadian home prices climbed for the first time in nine months in May as the housing market benefited from lower borrowing costs and from an economy that was adding jobs, the Teranet-National Bank Composite House Price Index showed Wednesday.

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It’s not clear the Liberal government’s multi-billion dollar housing plan will actually reduce housing needs, according to an assessment by Canada’s parliamentary budget officer, who says the new strategy actually reduces targeted funding for households in need of financial support

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Real estate agents in Vancouver have noticed something unusual in the past few weeks. For the first time in recent memory, the number of Hong Kong Chinese attending open-house showings has exceeded that of mainland Chinese buyers.

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It’s been roughly a year and a half since Menkes Developments broke ground on its 4.6-million-square foot mixed-use Sugar Wharf community on Toronto’s waterfront. The initial phases will produce a pair of condominium towers and an office tower.

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