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Recent Articles

Signet sells 7 apt. buildings to Starlight, Timbercreek

4 years ago

RENX   •   • 

Starlight and Timbercreek have purchased seven Toronto apartment buildings from Signet Group, spending $193.7 million on the transactions. The portfolios comprise 675 apartments all located within the City of Toronto.

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Vancouver-headquartered CIBT Education Group (MBA-T) announced it is considering spinning off Global Education City (GEC), its student real estate subsidiary, as a separately listed entity. CIBT intends to have GEC listed while also seeking “strategic funding opportunities” around the world.

RENX   •   • 

The opening of a 150,000-square-foot Costco store and warehouse at the massive mixed-use Taza development on the Tsuut’ina Nation outside Calgary is the validation of years of preparation and planning. Taza is planned to accommodate 25 million square feet of development.

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Thousands of small businesses in B.C. and Alberta are begging the federal government to change the rules to ensure they can apply on their own for the federal government’s Canada Emergency Commercial Rent Assistance program, months after it was introduced.

Romspen Commercial Lender

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Ottawa’s planning committee has approved Toronto-based developer main + main‘s high-rise buildings at the Westboro transit station, as well as First Capital‘s 30-storey tower to connect to Blair station as the city promotes development near its new LRT.

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CreateTO and developer partner Diamond Kilmer‘s revised proposal for disused Runnymede Quarry Lands at 411 Victoria Park Ave. in Scarborough includes a sixth building – a mid-rise – and increases the number of units from 798 units to 1,043, including 80 townhouses stacked and back-to-back.

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Cambridge is finally moving ahead with a new community hub. Southpoint will also include two elementary schools, a new Idea Exchange branch and a new residential subdivision of more than 300 homes, ranging from single homes to apartment buildings.

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8570442 Canada Inc. has submitted a revised proposal for 1326-1328 Wilson Ave. The Tregebov Cogan Architects-designed scheme maintains the proposed 10-storey residential project but reduces the number of units from 95 to 65 and includes a four-storey podium containing medical office and commercial uses.

Hersh Condos

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As the GTA office market continues to find its way through the pandemic, tenants are evaluating their office space needs (both short-term and long-term) and many organizations are opting to list office space for sublease as part of their strategies.

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The Retail Council of Canada Thursday pushed back against calls for the government to step in and regulate the relationships between supermarkets and their suppliers. Advocates say a code of conduct would help lay out rules and fair business practices.

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Four years after announcing it planned to move its East Ottawa location to Shoppers City East, Costco has made good on its pledge. The  warehouse giant cut the ribbon on a new 161,000-square-foot store at 1405 Blair Towers Pl. Thursday morning.

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Restaurant owners issued a stark warning to federal policymakers on Wednesday, saying more than half of all Canadian eateries could go out of business in the next three months. Restaurants Canada has been meeting federal officials.

REIC -- Advance your knowledge

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Casino revenue on the Las Vegas Strip fell 39 per cent to $330.1 million in July from a year ago, the first full month properties were open after the coronavirus shutdown, showing the city is struggling to win back customers.

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Nordstrom Inc. (JWN-N) reported a bigger-than-expected loss on Tuesday, as the COVID-19 pandemic shut its stores for about half of the reported quarter and consumers stayed home with little need for designer clothes.

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Apparel retailer Gap Inc. (GPS-N) reported a surprise 13 per cent rise in quarterly comparable sales on Thursday, as consumers stuck at home due to the COVID-19 pandemic bought more of its Old Navy and Athleta clothing online.

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Germany and Central Eastern Europe reported investment turnover growth across commercial real estate so far in 2020, despite the effects of COVID-19 in Q2, according to Savills’ European Investment Spotlight. Germany recording a year-over-year 31 per cent increase in investment transactions.

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OPINION: “Why are new homes so expensive in the GTA?” The answer is actually very complex. When it comes to new housing, the GTA is an undersupplied market. Virtually every year since 2006, new homes have fallen short of demand.

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As people migrate from urban centres to smaller communities, land values are rising, putting a new kind of pressure on B.C.’s small towns. People are relocating to small-town B.C. from the Lower Mainland, Alberta, the Prairies, Ontario and Quebec.

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In 1987, Lynne Kolber Halliday’s parents, Leo and Sandra, were preparing to tear down their California-style house at the peak of a mountain in Montreal’s Westmount neighbourhood and replace it with a 32-room bungalow. First, they had to host a wedding.

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Fannie Mae (FNMA) announced an extension of the temporary moratorium on foreclosures and evictions until Dec. 31, 2020. The moratorium, which was set to expire Aug. 31, is effective immediately and applies to properties with single-family mortgages backed by Fannie Mae.

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