CLC to sell Montreal’s Silo No. 5, Pointe du Moulin

RENX  Commercial  •  Land  •  Greater Montreal

Canada Lands Company hopes a huge, long-abandoned site in Montreal’s Old Port area will soon become a major mixed-use area and tourist attraction. It has launched a request for proposals to revitalize the imposing Silo No. 5 and Pointe du Moulin pier off the Old Port and Old Montreal.

Cadillac Fairview anchors new $150M tech fund

Commercial  •  Globe and Mail (Subscription required)

Cadillac Fairview Corp. Ltd. is the latest Canadian real estate giant to make a concerted push into technology investing by backing a new $150-million venture-capital fund being spun out of Business Development Bank of Canada.

Anthem, Crestpoint buy Victoria’s Tillicum Centre

RENX  Commercial  •  Retail  •  British Columbia

Anthem Properties and Crestpoint Real Estate Investments have purchased the Tillicum Centre in Victoria for $110 million. RioCan had owned the shopping mall, which contains over 40 stores, including Lowe’s, Save-On-Foods, London Drugs, Winners and a Cineplex cinema.

Summit acquiring Montreal logistics property for $23M

Commercial  •  Canada Newswire  •  RENX

Summit Industrial Income REIT (SMU-UN-T) announced today it has waived conditions and will acquire 100% of a 236,134-square-foot single-tenant logistics facility in Montreal. Summit will pay $23.0 million for the property, situated on a 16.5-acre site in a prime location.

Dream Industrial buys 21 U.S. properties for $235M

RENX  Commercial  •  Industrial  •  International

UPDATED: Dream Industrial REIT (DIR-UN-T) has acquired a $235-million portfolio of 21 industrial buildings totalling 3.5 million square feet across five major U.S. markets. The properties are located in the midwest markets of Chicago, Cincinnati, Columbus, Indianapolis and Louisville.

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Paragon Gaming sells stake in Parq Vancouver casino

Commercial  •  Business In Vancouver  •  Vancouver Sun

Paragon Gaming announced it has sold its stake in downtown Vancouver’s casino, hotel and dining resort Parq Vancouver, for an undisclosed amount to PBC Group. The site includes a two-level, 72,000-square-foot casino with 600 slot machines and 75 game tables.

Calgary’s Grey Eagle casino expanding this spring

Commercial  •  Calgary Herald

Calgary’s Grey Eagle Resort and Casino is growing, with an expansion underway that should be completed in the spring. The expansion will increase the total size of the resort to about 253,000 square feet.

St. Catharines builds bridges to commercial development

Commercial  •  Globe and Mail

Decades after Teenage Head played its last punk-rock show there, 201 St. Paul St. will soon be vacant no more. In October, St. Catharines city council approved Bloom, a seven-storey class-A office building.

Tricon adds seventh downtown Toronto project

Residential  •  Canada Newswire  •  RENX

Tricon Capital Group (TCN-T), an investment manager focused on residential real estate, today announced an expansion of its Toronto multi-family development (Tricon Lifestyle Rentals) program to more than 3,000 units with the addition of its seventh project in downtown Toronto.

Sick Kids project kicks off with 22-storey tower

Commercial  •  Toronto Star

Phase 1 of an ambitious multi-billion-dollar rebuilding project at Toronto’s Sick Kids hospital will create an oasis and gathering place for 3,000 staff currently scattered at several sites. , The 22-storey Patient Support Centre is slated for completion in 2022.

Alt Hotel Calgary East Village officially opens

Commercial  •  Globe Newswire

Canadian hotelier Group Germain Hotels celebrated the opening of Alt Hotel Calgary East Village. This is Group Germain Hotels’ 17th property in Canada and the second hotel in Calgary, following the opening of Le Germain Hotel Calgary in 2010.

WPT Industrial REIT provides leasing update

Commercial  •  Globe Newswire  •  Globe Newswire  •  Globe and Mail (Subscription required)

WPT Industrial Real Estate Investment Trust (WIR-U-T) had 2,523,097 square feet of leases set to expire in 2018.  Of this expiring square footage, 1,963,301 square feet of leases were renewed with existing tenants.

Artis the best Canadian REIT stock for 2019

Commercial  •  Motley Fool  •  Motley Fool  •  RENX

Artis REIT (AX.UN-T) recently declared its monthly dividend of $0.045 per share. That resulted in a yield of more than seven per cent. Buying shares today still gives you an annual dividend yield of more than five per cent.

Apple flagship could be coming to downtown Vancouver

Commercial  •  Daily Hive

After nearly 15 years of being on the hunt for an appropriate location, it appears Apple has finally found a flagship store location for downtown Vancouver. An application outlines a proposal to redevelop the CF Pacific Centre rotunda entrance building

Canada’s Sunrise Records to buy failing HMV

Commercial  •  CTV  •  Hamilton Spectator

Canadian retailer Sunrise Records is pulling stricken retailer HMV out of bankruptcy in a deal that will safeguard some 1,500 jobs. However, administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs.

OSFI under pressure to ease mortgage stress test

Residential  •  Reuters

The Office of the Superintendent of Financial Institutions is coming under increasing pressure from banks and mortgage industry lobbyists to ease a stress test designed to cut risky lending, but is expected to hold off on changing the rules.

Confusion reigns over B.C. taxes

Residential  •  CityNews  •  Vancouver Sun  •  Globe and Mail (Subscription required)

Do you know the difference between Vancouver’s empty homes tax and the province’s speculation tax? As the deadline for both approaches, confusion is building. B.C.’s speculation tax, new this year, applies to most homeowners.

Squamish vacation rental operators torn

Residential  •  Business In Vancouver

Many agree Airbnb-type rentals could worsen Squamish’s housing affordability problems if they go unregulated, according to a new survey. “The largest theme, by frequency of response, was around affordability, housing options and access,” said District planner Sarah McJannet.

Is there such a thing as a family-friendly condo?

Residential  •  Montreal Gazette

Families: Montreal wants you. The city offers some pretty sweet carrots for homebuyers with children who are willing to trade picket-fence dreams for a townhouse or condo in the city.