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Avenue Living passes $5B in assets under management
Avenue Living passes $5B in assets under management
Avenue Living Asset Management was founded in 2006 with the purchase of 24 rental units in Brooks, Alta., for just over $3 million. With its latest acquisitions, the Calgary firm has surpassed $5 billion in assets under management, with continued growth on the horizon.
CF, Shape plan new community around Fairview Mall
Cadillac Fairview and SHAPE have been refining plans for a mixed-use community surrounding Fairview Mall. A revised plan earlier this month proposes towers of 52, 45, and 38 storeys with 1,043,529 square feet of residential space and 2,820 of retail.
Fastmark's plan for 19-storey kicks off Van. density push
Fastmark Development has made the first application to rezone a row of houses on a quiet Vancouver side street in order to build a 19-storey rental tower, as allowed under the city’s redevelopment framework for the Broadway neighbourhood.
Broccolini to develop 379,000-sq-ft. Lactalis Canada facility
Broccolini will develop, build, own and property manage a 379,000-square-foot distribution centre for Lactalis Canada Inc. in Oshawa. The project at 1680 Thornton Rd. N., has broken ground and is to open in late 2024.
Torstar shuttering Hamilton, Waterloo, Markham offices
Bob Hepburn, a spokesman for Torstar Corporation, said Hamilton Spectator's offices will close in early October. He said a small office in Waterloo and one in Markham — the latter serving as a hub for several community newspapers, are also closing.
T.O. approval wait times holding back building: BILD
Lengthy waits for City of Toronto approvals is slowing down efforts to add much-needed housing supply, such as converting a single-family home into a duplex, according to Wednesday’s study commissioned from the Building Industry and Land Development Association (BILD).
VanMar proposes 50-storey mixed-use in Kitchener
VanMar Developments has proposed a 50-storey mixed-use tower at 615 King St. W., in downtown Kitchener. Station Park Building E, designed by Kirkor Architects and Planners, would comprise 535 condo units in addition to office and retail space.
B.C. burger baron proposes six-storey mixed-use
Roger Milad, who owns A&W locations in Coquitlam and Port Moody, has proposed a six-storey project next to the latter which would include a combination of strata and 30 rental units along with street-level commercial space and second-storey offices.
Van.-based Korean restaurant chain closes four locations
Rib & Chicken, which opened in Langley in 2017, has closed four of its six locations across Metro Vancouver since the beginning of 2023. Only the Langley and Marpole locations remain open for business.
Former Sobeys president/CEO dead at 92
David Sobey, a former president and CEO of Sobeys Inc. (EMP-A-T), is being remembered for his role in transforming the Stellarton, N.S., grocer from a regional business into a multi-billion dollar company. He died at 92.
$1.2B correctional centre first of its kind in Ontario
Construction crews are presently doing civil work and finishing a substructure that will support a sleek, 400,000- square-foot, $1.2-billion correctional facility in Thunder Bay, Ont., that will have many green and sustainable features.
Old Windsor jail is for sale — again
The former Windsor jail on Brock Street is once again up for sale. The jail was sold at auction to the current owners in 2019 for $150,000. They are now asking $1.4 million for it.
Cdn. cities among best prepared for climate change: CBRE
A new report from the commercial real estate and investment firm CBRE Group Inc. (CBRE-N) reveals Toronto, Montreal, Winnipeg and Ottawa as the Canadian cities well-positioned for resilience against the effects of climate change.
Rental investors getting flushed out as rates rise
It wasn’t long after interest rates started rising again that some of the small-time real estate investors who form the backbone of Canada’s rental market began to fear they could get sued.
Brampton rent rising faster than any other Canadian city
Rents across Canada reached record highs in August and Brampton had the highest year-over-year increase of anywhere in the country, according to Rentals.ca. Rent for a one-bedroom apartment was up 29% year-over-year and up 25.7% for a two-bedroom apartment.
Compass Datacenters acquires Sears' longtime HQ for $194M
Sears has finalized the sale of its 197-acre Chicago-area headquarters for $194 million to Compass Datacenters as it continues to shrink its footprint. Compass is expected to demolish the 2.4 million-square-foot campus and replace it with data centres.
Marathon bidding on Signature’s CRE portfolio: CEO
New York-based Marathon Asset Management, which has about $20 billion in capital management, will be bidding on Signature Bank’s $33 billion commercial real estate loan portfolio, which is comprised primarily of multifamily properties in New York City.
San Fran office market rebounds after bottoming out
San Francisco’s office market is rising from the dead. In the hardest-hit U.S. office market, the number of companies hunting for cubicle space is rising, with AI firms leasing blocks of offices and sellers starting to close office deals again.
Kayne Anderson buys $1.3B MOB loan portfolio
Kayne Anderson Real Estate, the real estate investment arm of Kayne Anderson Capital Advisors, has acquired from Synovus Bank a $1.3 billion medical office loan portfolio. The purchase was made through the company’s debt platform, KARED, launched in 2015.
WeWork sued for $30M after leaving DivcoWest site
DivcoWest is suing WeWork (WE-N) for $30 million after the co-working company left space it leased at a DivcoWest building in Manhattan and quit paying rent in December, The Real Deal reports.
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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