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‘Sky is the limit’ for Montreal’s industrial leasing rates

4 years ago

If you’re an industrial tenant in Montreal, lock in your renewal as soon as possible. That was the message from Charlie Deeks, CIO of Pure Industrial Real Estate Trust, during a discussion at the virtual Montreal Real Estate Forum.

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“I continue to believe the outlook for Montreal will be as promising post-pandemic as it was pre-pandemic,” Toronto-based Allied Properties REIT  (AP-UN-TCEO Michael Emory says. “For sure it’s a very severe disruption. But my confidence is undiminished.”

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Westbank and QuadReal Property Group seek to build more density and swap an entire luxury condo building for market rental in their plans for Vancouver’s Oakridge Centre, one of the largest real estate projects by size in North America.

The grooming process is complete. Jonathan Gitlin will succeed Ed Sonshine as CEO of RioCan REIT (REI-UN-T) at the end of March, the trust announced. Gitlin was named president and COO in 2019, when Sonshine announced his intention to retire.

CMLS Mortgage Commentary

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Ontario’s long-term care homes are having trouble securing liability insurance for COVID-19, a situation that could force some of them to close, according to the Ontario Long Term Care Association, which represents more than 70 per cent of the province’s homes.

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Condos originally slated for the upper 12 floors of Stantec Tower are being converted into luxury rental suites in Edmonton’s downtown due to the COVID-19 pandemic. Sky Residences at Ice District announced 168 rental units will be available starting Tuesday.

IMAGE: Greg Placidi, the chief investment officer at Equiton Capital. (Courtesy Equiton)

Chief Investment Officer & Portfolio Manager, Equiton Capital

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The expected surge in online shopping during the holiday season is stoking concerns Canada’s courier network won’t be able to keep up with deliveries. “The infrastructure is being stretched to the limit,” said Diane Brisebois, Retail Council of Canada CEO.

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For decades, one version of the suburban dream was to have a house overlooking a golf course or country club. However, an insatiable hunger for GTA land has seen more of those fairways converted to roadways in new subdivisions.

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Kaneff Group of Companies celebrated the groundbreaking of Keystone Condos in the heart of Mississauga City Centre on Friday. The 20- and 23-storey towers will include 406 suites and are 80 per cent sold out.

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Peter Altobelli, Yardi: Top 5 highlights from Vancouver Real Estate Forum, Canadian Real Estate Forums

Luis Vidal, Luis Vidal + Architects, Daily Commercial News, The Construction Record Podcast: Episode 95

Marlene Farias, Triovest Realty Advisors: Lifting up her community, colleagues and kids, Highview Partners People Who Perform: Episode 25

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Nexus REIT, (NXR-UN-X), Globe Newswire

PROREIT, (PRV-UN-T), Canada Newswire

Subversive Real Estate Acquisition REIT, (SVX-U-NE), Canada Newswire 

Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire

Yardi Long Term CareCanada Newswire

Energy Profiles

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Slate Asset Management announced the acquisition of two real estate portfolios in Germany by its Slate European Real Estate Fund III for $112 million Cdn. The portfolios comprise approximately 646,000 square feet and are leased to leading grocery and other essential-use tenants.

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Starlight Group Property Holdings and KingSett Capital announced they have acquired 1,016,739 trust units of Northview Apartment REIT (NVU-UN-T). This increased their aggregate beneficial ownership of Northview units to 10,428,696 or 15.42% per cent of the total number of units outstanding.

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Dream Unlimited Corp. announced its interest in Dream Office REIT (D-UN-T) is deemed to have increased as a result of the acquisition by CEO Michael Cooper of 1,765 units, Series A representing less than 0.01% of the issued and outstanding units.

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“If you have people coming into the office, it’s very rare for them consistently to be six feet apart,” said Kanav Dhir, head of product at VergeSense, which has 30,000 object-recognition sensors deployed in office buildings around the world tracking workers.

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The Residential Construction Council of Ontario and 21 industry partners have formed a roundtable to address racism in the construction industry. The roundtable includes employers, unions, employment agencies, educators, contractors organizations, provincial and municipal governments, and the health and safety sector.

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VIDEO: Zoocasa CEO Lauren Haw speaks with the Financial Post’s Larysa Harapyn about the record-breaking sales in the Canadian housing market, and whether the seeming shift from downtown to suburban living will change.

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Pent-up demand, not enough houses for sale and cheap money are driving London-area home prices to record highs. Outsiders flooding in and more investors buying in are also factors. Jonathan Juha breaks down where the market’s headed:

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When the lockdown hit in mid-March, Paul Sangha began paying his Vancouver-based architectural landscape staff their salaries in advance to give them a sense of certainty. But then something strange happened. Business suddenly picked up.

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