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National CRE reports show higher cap rates, lower activity: CBRE, Colliers
National CRE reports show higher cap rates, lower activity
Higher interest rates continue to dampen enthusiasm for commercial real estate, both CBRE and Colliers note in Q2 reports exploring cap rates and market conditions across Canada. We break down the stats by sector, and by city/region.
 | Design, Policy and Canadian Cities Mayor Chow: 12 visionary voices offer tips to fulfill your quest for 25,000 rental homes in TorontoNaama BlonderArchitect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP |
Volta to build Canada's first battery copper foil plant in Que.
Volta Energy Solutions, the European subsidiary of a South Korean electric vehicle battery materials company, announced it would build Canada’s first battery copper foil factory in Granby, Que., further cementing the province’s EV battery manufacturing industry.
'New player' in Calgary market buys 263 apartments: $54M
Vancouver real estate investor Wendy Cheung has purchased a 263-unit multifamily property in southeast Calgary from Canadian Apartment Properties REIT (CAPREIT) (CAR-UN-T) for just under $54 million.
Bank of Canada holds key rate steady at 5%
The Bank of Canada is leaving interest rates alone — for now. It announced Wednesday morning it’s leaving its key overnight lending rate at five per cent, but didn’t rule out further hikes as it attempts to bring inflation under control.
Greenbelt fiasco makes a mess of development order
Critics of Ontario’s changes to its Greenbelt are warning that the government’s favourable treatment of a select few developers undermines not just those environmentally sensitive lands, but the province’s entire rules-based system of land development.
Towers Realty proposes eight-storey Wpg. mixed-use
Towers Realty Group has proposed a eight-storey mixed-use building with 101 residential suites and a 9,300-square-foot commercial space on the main floor at 914 and 980 St. James St. in Winnipeg. City planners have recommended council approve the project.
Back-to-office plans fall flat amid arbitrary rules
The big question hanging in the air post-pandemic is whether working from home is a right or a privilege, said Carleton University’s Linda Duxbury. Many employees have come to believe that it’s a right, but she disagrees.
Quartier Dix30 Seeing Major Tenant Updates
The launch next year of a new T&T Supermarket at Quartier Dix30 in Brossard will boost the redevelopment and transformation of a district with 3.2 million square feet of retail and office space in the Montreal area.
Milestones opens first Quebec restaurant in Montréal
Milestones Restaurants announced the opening of its first location in Quebec. The new Pointe-Claire location, comprising 6,000 square feet of contemporary space, is the first of six restaurant openings planned for the province.
Former Vancouver city planner dead at 76
Nathan Edelson, Vancouver's former top city planner for the Downtown Eastside, is being remembered for his contributions to inclusive city-building following his death at 76. The 25-year city planner was also a longtime advocate for Chinatown's heritage protection.
CT, InterRent top Canadian REITs to buy
CT (CRT-UN-T) is a retail REIT whose majority owner and largest tenant is Canadian Tire. if you’re looking for a REIT that can offer significant capital gains potential, I’d recommend you consider InterRent REIT (IIP-UN-T).
SK finalizes land stake for $20.4B hydrogen project
South Korean clean energy developer SK ecoplant Co. announced it was granted 1,078 square kilometres of Crown land for its part in a $20.4-billion green hydrogen project in Newfoundland and Labrador central to Canada's clean fuel leadership ambition.
37 Yellow leases on the line in U.S., Canada
Yellow Corp. is looking for court approval to back out of 37 leases across the U.S. and Canada as the trucking company's bankruptcy proceedings unfold. The leases include truck terminals, offices, warehouses and outdoor storage space for semitrailers.
Buyers sought for Signature Bank's $33B CRE portfolio
The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate loan portfolio of failed New York lender Signature Bank, it said on Tuesday.
Office market panic easing, but critical period looms
OPINION: The U.S. office market hysteria appears to be easing — at least if REIT performances are any gauge. But it isn’t out of the woods yet, and risks could loom for years if interest rates stay anywhere near current levels.
Diversified Healthcare, Office Properties merger scrapped
Office Properties Income Trust and Diversified Healthcare Trust have called off their planned merger. A vote on the deal that had been scheduled for Wednesday has been canceled. Since the announcement of the deal in April, it faced stiff opposition
OMERS Infrastructure secures $525M in co-investment
OMERS has secured an additional $525 million via its Strategic Partnership Program, which allows third-party investors to co-invest alongside the pension fund. The capital will be invested in Australian telecommunications infrastructure firm Waveconn and U.S. chassis provider Direct ChassisLink.
Asset managers look to sell Hong Kong buildings
Asset managers are increasingly looking to dispose of their commercial buildings in Hong Kong as rising interest rates take a toll on mortgage payments, which for some have now exceeded rental income.
Hong Kong REITs down 26% in 2023 as investors exit China
S&P's REIT index for Hong Kong dropped 26% between the end of last year and Friday, in stark contrast with REITs of other major markets as investors abandon China-linked assets.
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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