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RealREIT: Do Canadian REITs still have it right?
RealREIT: Do Canadian REITs still have it right?
Canadian real estate investment trusts were designed in 1993 to attract capital from public investors back into real estate after a meltdown in commercial property markets. Over 30 years later, are REITs still relevant investment vehicles?
Record growth continues in data centre sector: C&W
Despite an expanding pipeline, data centre demand continues to outpace supply across the Americas, resulting in consistently declining vacancy rates. Canada's largest data centre market, Toronto, saw vacancy decline from five to four per cent so far in 2024.
Rogers buys BCE’s stake in MLSE for $4.7 billion
Rogers Communications Inc. (RCI-B-T) is taking control of professional sports in Toronto by acquiring rival BCE Inc.’s (BCE-T) stake in Maple Leaf Sports and Entertainment for $4.7 billion.
Brookfield’s $50B domestic fund proposal gets cool reception
Brookfield Asset Management (BN-T) floated a proposal for a fund worth up to $50 billion that would raise money from Canadian pension funds and the federal government to invest in Canadian assets – but was met with tepid interest.
$5B Windsor EV battery plant almost ready to roll
Less than two years after breaking ground on the NextStar Energy battery plant in Windsor, the company is close to firing-up the assembly lines. At 4.2 million sq. ft., the plant could produce enough batteries for 450,000 EVs per year.
TCHC rental building at Regent Park readies for occupancy
Nearly two decades of work have gone into the revitalization of Toronto’s Regent Park neighbourhood, led by The Daniels Corporation and Toronto Community Housing Corporation (TCHC). The area has transformed into a mixed-income community through a series of phased developments.
Quartet of 35-storey towers proposed for Vaughan
Cortel Group and 1315955 Ontario Inc. have submitted a proposal to the City of Vaughan that would replace low-rise industrial buildings with high-rise residential near Martin Grove Road and Highway 7 on the west side of Woodbridge.
Greystar proposes 2 rental towers for Vancouver
Greystar Real Estate Partners has submitted a rezoning application to the City of Vancouver proposing 22- and 18-storey rental towers with a total of 371 units for 1527 Main St. in Vancouver.
14-storey mixed-use condo proposed in TO's Leslieville
A couple of blocks south of Queen Street in Toronto’s Leslieville neighbourhood, The Sud Group of Companies proposes a 14-storey mixed-use condominium at 26 Laing St. The development would include a four-storey townhouse and live/work units.
B.C. rents fell after short-term vacation home rule change
Apartment rents in several urban neighbourhoods in British Columbia declined noticeably after city governments in those areas prohibited people from renting entire principal residences as short-term vacation homes, a report has found.
21 B.C. municipalities get more time to sort zoning bylaws
The provincial government is giving 21 municipalities in B.C. more time to sort out zoning bylaws and infrastructure so they can comply with provincial requirements to make way for more housing. But requests from seven other municipalities were denied.
Affordability crisis could be reaching its peak
With the inflation rate reaching the central bank's two per cent target, Canada's affordability crisis could be peaking. David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives, says the biggest "pain points" remain housing and food.
StorageVault completes $71.5M purchase in Toronto
StorageVault (SVI-T) announced it has completed the acquisition of the two adjacent Toronto properties for an aggregate purchase price of $71.5 million. The purchase was previously announced on July 16.
Newmarket council questions Davis Dr. self-storage building
Newmarket council grilled the representative of a developer proposing to build a storage and office building on Davis Drive about its suitability for the area. Oskar Group plans to develop a six-storey building for self-storage with office and retail space.
The ranks of the uber-wealthy are booming, up 42% in Canada
The world’s centi-millionaires — individuals with liquid investable assets of US$100 million or more — have ballooned by 54 per cent over the past decade, a new report shows. Canada’s centi-millionaire numbers have expanded by 42 per cent to a total of 495.
Real estate podcasts
Ron Butler, Butler Mortgage: The Future of the Residential Real Estate Market, Commercial Real Estate Library
Alan Haigh, Impact Commercial: Navigating the Fall Market, VCREP
Emily Hanna, Crown Realty Partners: Charting your path in CRE, Tenant Experience Network
Ares raises a record $3.3B to spend on distressed real estate
Alternative investment manager Ares has raised over US$3.3B in capital, its largest closed-end fundraise to date, as the final closing amount for its Ares U.S. Real Estate Opportunity Fund IV.
Fortress, Goldman to tap wealthy people for new debt REITs
Fortress Investment Group is preparing to raise money from individual investors for a vehicle that finances commercial real estate debt, as money managers seek to meet an expected spike in demand for such loans.
Waterton closes $1.7B fund to pounce on multifamily
Real estate investment firm Waterton has closed a US$1.7B fund to pursue value-add multifamily properties in Chicago and other major cities during what it calls a “period of historic pricing disruption.”
L&G to sell U.K. builder to Sixth Street in $2.4B deal
British financial-services firm Legal & General Group Plc agreed to sell homebuilder Cala Group to alternative-asset managers Sixth Street Partners and Patron Capital. The deal will give Cala an enterprise value of C$2.4 billion.
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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