Slate sells 25% of six GTA office properties

RENX  Commercial  •  Office, Investment  •  National, Toronto / GTA

Slate Office REIT (SOT-UN-T) is selling a 25 per cent interest in six Toronto-area office buildings to New-York based Wafra Inc. for $131.8 million. The REIT also announced it will cut its annual distribution from 75 cents to 40 cents per share.

Commercial real estate fundamentals remain strong

RENX  Commercial  •  Investment  •  National, Toronto / GTA

CRE fundamentals are generally strong in North America and Europe, which bodes well for another solid year for investors, according to five top executives speaking at Toronto’s Real Capital conference. Toronto and Vancouver lead the way, with Montreal close behind.

Oxford nears sale of Edmonton mall, office towers

Commercial  •  Bloomberg

Oxford Properties Group is close to an agreement to sell Edmonton City Centre mall and two office towers in downtown Edmonton, in a deal that could fetch more than $300 million, according to sources.

‘Unprecedented’ rise in London industrial land values

Commercial  •  CBC  •  London Free Press

Industrial land is so hot in London, Ont., prices have risen by about a third over the last two years, according to CBRE. “It’s pretty unprecedented in London,” said Peter Whatmore a CBRE vice-president and a broker for southwestern Ontario.

Newspaper publisher to sell Atlantic Canada 10 buildings

Commercial  •  CBC  •  The Guardian

The company that owns some 35 daily and weekly newspapers in Atlantic Canada is selling 10 of its buildings. The affected properties, currently owned by Saltwire Network, are located in Nova Scotia, P.E.I., and Newfoundland and Labrador.

Value: Weighed and Measured › How productive are you, really, in the modern office?

John Clark: Vice President , The Regional Group of Companies Inc

Alterra, Vail Resorts snapping up resorts

Commercial  •  Bloomberg

Together, Alterra Mountain’s and Vail Resorts’ (MTN-N) passes can be swiped at 58 North American resorts, as well as a handful of resorts in Oceania and Europe. The two competing conglomerates are trying to turn occasional skiers into frequent skiers.

Mattamy Homes founder sets up investment fund

Residential, Commercial  •  Bloomberg  •  Canada Newswire

Over four decades, Peter Gilgan turned Mattamy Homes into the largest closely held home construction company in North America. Now,  he is stepping aside as chairman of Mattamy Homes and setting up a new company to invest in other sectors.

Redevelopment of Kanata golf course takes a slice

Residential, Commercial  •  Globe and Mail (Subscription required)

A decades-old agreement between the City of Ottawa and a golf course might be the only thing stopping a ClubLink Corp. development proposal from replacing holes with homes.

Château Laurier addition needs tweaks: Panel

Commercial  •  Ottawa Citizen

Better, but still needs work says Ottawa’s urban design review panel on the new design for a controversial addition to the Fairmont Château Laurier. Larco Investments wants to expand the historic hotel with more long-stay rooms and meeting spaces.

Canada Lands, MST begin planning for Jericho Lands

Residential  •  Globe Newswire

The Joint Venture of Canada Lands Company (CLC) and Musqueam, Squamish and Tsleil-Waututh (MST) Partnership, with the City of Vancouver, launched at a Vancouver event the Jericho Lands policy planning program to create a new vision for the Jericho Lands.

New Calgary arena will need public-private partnership

Commercial  •  CBC

Michael Brown, CEO of the Calgary Municipal Land Corporation, predicts the path to a new arena in Victoria Park will be through a public-private partnership. The city agency is overseeing the redevelopment of Victoria Park.

Amazon backs out of Seattle lease over taxes

Commercial  •  Bloomberg  •  Wired  •  GeekWire

Amazon.com Inc., which scrapped a deal this month to open offices in New York after clashing with local politicians, is pulling out of a lease in Seattle that was at the center of a battle with the city council.

Amazon opening new chain of grocery stores: Report

Commercial  •  Canadian Grocer

Amazon plans to open a brand of grocery stores in the U.S. separate from its Whole Foods banner. The first store is scheduled to open in Los Angeles later this year, according to The Wall Street Journal.

REIT financial results:

Commercial  • 

Brookfield Property REIT, (BPR-Q), Globe Newswire

Slate Office REIT, (SOT-UN-T), Business Wire

REOC financial results:

Commercial  • 

Brookfield Property Partners, (BPY-UN-T), Globe Newswire

Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire

Rental rates rise at fastest pace in 30 years

Residential  •  Huffington Post

The cost of renting an apartment in Canada shot up 0.9 per cent in a single month in January, according to Statistics Canada, the fastest one-month leap since August 1989.

Vancouver approves two buildings with 70 rental homes

Residential  •  Daily Hive

Two new buildings in different areas of the city with 70 for-profit affordable rental homes combined were approved by Vancouver City Council last week.

Record number of new homes sitting vacant in Edmonton

Residential  •  Edmonton Journal  •  Global News

The number of new vacant homes in the city has reached a record high for the fifth month in a row, says a report by Alberta Treasury Branches.

Builders worried about Quebec labour shortage

Residential  •  Montreal Gazette

A wave of older workers is retiring and there are not enough younger workers with the skills to close the gap. It’s bad news in a building boom. The issue is, understandably, top of mind among Quebec’s residential construction entrepreneurs.