Onex to acquire Save-A-Lot grocery chain

Onex to acquire Save-A-Lot grocery chain

Toronto-based private equity fund Onex Corp. (OCX-T) has agreed to acquire the Save-A-Lot business from SuperValu Inc. (SVU-N) for $1.365 billion. Save-A-Lot is one of the largest hard-discount grocery retailers for value-seeking shoppers in the United States.

CoStar Group – Montreal Gazette – Globe and Mail

Ontario Teachers’ buys wineries, Wine Rack stores

The Ontario Teachers’ Pension Plan is buying Constellation Brands Canada, the producer and operator of beer, wine and spirits businesses, for $1.03 billion. The Mississauga, Ont.-based company owns three commercial wineries, five estate wineries and 163 Wine Rack retail locations throughout Ontario.

Toronto Star – CBC – Ottawa Citizen

Vancouver’s Concert Properties is a developing story

Concert Properties, which has evolved over its 27-history from a residential developer to a diversified real estate owner and operator, this month announced the completion of its CREC Commercial Fund LP.

Property Biz Canada

Tsawwassen Mills records massive opening weekend traffic

Metro Vancouver’s newest shopping centre drew about 284,000 visitors during its first six days of operation — including 201,000 from the grand opening on Oct. 5 to Oct 8, officials said Friday.  Tsawwassen Mills, Ivanhoe Cambridge’s latest version of its suburban outlet mega-mall concept encompasses 1.2 million square feet, featers 180 brands, 18 new to Metro Vancouver.

Vancouver Sun – Business in Vancouver

Winnipeg to pull three properties SHED

Winnipeg plans to yank three residential properties out of downtown’s so-called sports, hospitality and entertainment district, the Sutton Place Hotel & Residences, GlassHouse and Marie Rose Place from the sports, hospitality and entertainment district, a tax-increment-financing zone informally known as the SHED.

CBC

The GTH deal in Saskatchewan you’ve never heard of

Since the provincial auditor released her report on the Global Transportation Hub land deal at the start of summer the CBC’s iTeam has been investigating what she found and comparing it with documents obtained through access to information and extensive interviews. This is the first feature in a two-part series detailing what we have learned.

CBC

Logistics having big impact on industrial real estate

While logistics companies have become and will continue to be an increasingly important component of the Canadian industrial real estate market, there are still questions regarding how this relationship will evolve.

Property Biz Canada

Innovation centre opens in heart of Vancouver’s startup community

At an historic intersection in Vancouver, a new six-storey building epitomizes a trend: live-work-study spaces designed to foster innovation and business startups. The $7-million building, opened last month by Simon Fraser University’s Beedie School of Business.

Globe and Mail

InstaBuggy to be a better grocery shopping experience

Serial entrepreneur Julian Gleizer hopes to create a better online grocery shopping experience. Gleizer and Zachary Kaplanov launched Toronto-based online grocery delivery service, InstaBuggy with Sobey’s FreshCo in April 2015, revenue has been growing at a rate of 37 per cent a week. InstaBuggy now delivers across the GTA and is about to launch in Ottawa.

Financial Post

Fundrise to launch two new “opportunistic” REITs

Crowdfunding company Fundrise is launching two new real estate investment trusts Fundrise West Coast Opportunistic REIT and Fundrise East Coast Opportunistic REIT, seek to raise up to $50 million each to invest in real estate development projects and multifamily properties on both coasts.

The Real Deal

Building retrofits vital to tackling climate change

Canada can meet and even exceed its 2030 climate targets if the proper investments and changes are made to commercial, institutional and high-rise residential buildings over 25,000 sq. ft. according to a new report.

Sustainable Biz Canada

New Dartmouth Crossing hotel aims to repeat Hampton’s success

Six years ago, the roughly $23-million Hampton Inn & Suites opened its doors and quickly became a darling of hotel industry insiders. “It’s one of the best-performing hotels in the Halifax Regional Municipality,” Gordon Laing, president and chief operating officer of Southwest Properties.

The Chronicle Herald – Business in Vancouver

Real estate seen hurt by Brexit unease

U.K. commercial property is among markets being squeezed as uncertainty grips would-be investors after the country’s Brexit vote, according to Taimur Hyat, chief strategy officer for Prudential Financial Inc.’s $1 trillion asset-management arm. “I would characterize the market sentiment as being one of ‘let’s wait’ rather than ‘let’s invest,’” Hyat said.

Bloomberg – Reuters

Brookfield to take stake in India cellphone tower network

The owner of India’s RCom wireless network says an arm of Brookfield Asset Management (BAM.A-T) will become majority owner of its tower infrastructure under a preliminary cash deal worth $1.7-billion (U.S.). The towers and related infrastructure are used to receive and relay the radio signals between cellphones, smartphones and other mobile devices.

Globe and Mail

Power shift at Li Ka-shing controlled companies

A rift among two listed firms controlled by Hong Kong’s richest man Li Ka-shing is deepening after a HK$1.87 billion property deal collapsed Wednesday, raising speculation that a new generation of Li-family leadership is beginning to assert itself in strategic decision making, overriding the old guard.

Business in Vancouver

Featured Column

Ontario’s vacancy rebate: Emergency rations for geese that lay golden eggs

Last year, the City of Ottawa handed out more than $11 million in property tax rebates on vacant or partly vacant commercial properties in the municipality.

Read more

	Multi-residential Property Biz Canada in 2017
	In 2017, or sooner, RENX is going to publish a second weekly edition of Property Biz Canada focused primarily on the multi-residential sector in Canada. This is a great new advertising opportunity to reach professionals in this sector of the industry. Contact sales@renx.ca, 1-855-569-6300

 

Real Estate Companies

Timbercreek Financial not impacted by new mortgage rules

Timbercreek Financial (TF-T) commented today that the Federal Department of Finance’s recently announced changes to the rules relating to insured residential mortgages are not expected to impact the Company’s portfolio or financial performance. “We do not have any exposure to insured mortgages, which is the target of the rule changes,” said Andrew Jones, CEO of Timbercreek Financial. 

Marketwired

Park Lawn Corporation graduates to TSX

Today Park Lawn Corporation (PLC-X) has received approval for the listing of its common shares on the Toronto Stock Exchange.  PLC’s common shares will begin trading on the TSX under the symbol “PLC” at the opening of the market on October 19, 2016.

Marketwired

Parkit Enterprises provides corporate update

During Parkit Enterprises (PKT-X) recent Proxy solicitation, the Board committed to initiate a review of the Company’s business plan, and consider all options for increasing value to shareholders. With the change in management complete, this review is on-going and will be commented on in future periods” said Joel Dumaresq, Chairman of the Board.

Marketwired

REOC Financial Reports

	REITs & REOCs – Second-quarter 2016 report
	RENX has prepared a table with a convenient list of the companies and a summary of links to their second-quarter 2016 results. Have we missed any?  Canadian REITs & REOCs – Second-quarter 2016 report

 

Real Estate Investment Trusts

Nobel REIT sells Boucherville Place Nobel

Nobel REIT (NEL.UN-X) has completed the sale of the property located at 1190 Place Nobel in Boucherville, which has a gross leasable area of approximately 19,000 square feet, to the accounting firm Labranche Therrien Daoust Lefrançois.

Canada Newswire

REITs may be the answer to investment prayers

Anyone who’s owned a home for a few years in the city knows real estate has been going like gangbusters particularly in the desirable, high-profile centres like Vancouver and Toronto. This has led to speculation whether we’re in a bubble about to burst. That’s less of a concern if you own a home. You’re going to live there after all. But real estate is also a hot investment.

Winnipeg Free Press

New Development

Château Laurier owners delay formal expansion submission

The owners of the historic Château Laurier say they will delay making a formal submission to the City of Ottawa for a controversial expansion project in a bid to seek more feedback from the community first. Plans unveiled last month for two proposed additions to the iconic hotel drew a flurry of criticism from the public on social media, from heritage critics and from the mayor.

Ottawa Citizen

Regina council to consider rezoning Aurora development

A recommendation to rezone an area south east of Regina from urban to commercial will be put before city council tonight. The rezoning is proposed to allow for the first phase of development of a retail site called Aurora. The land is located south of Victoria Avenue East on the route of the approved Regina Bypass near Tower Road.

CBC

Technology

Canadian grocers finally reaching the digital future

The way Canadians pay for groceries is poised to reshape bricks-and-mortar stores, according to research to be presented at this week’s Grocery Innovations Canada conference. “There’s been this huge shift, as consumers are starting to put away cash and start using more digital products,” said Avinash Chidambaram, vice-president, product and platform development at Interac.

Toronto Star

Other

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