Canadian new home prices, sales softened in 2018

Canadian new home prices, sales softened in 2018

Softer sales and pricing were the prevailing trends in new home sales in seven key Canadian markets in 2018, according to analysis by Altus Group’s Data Solutions team. Patricia Arsenault and Matthew Boukall said Kitchener-Waterloo and Montreal were the only two markets where new home sales increased.

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Saroukian building six-tower Central Parc Laval

Edmonton-based Saroukian Group says the time is right to develop land it owns in Laval, Quebec which it has kept untouched for more than two decades. The property development firm is building Central Parc Laval, a six-tower project that will contain 1,400 high-end residential rental units, a luxury hotel and retail space.

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Centurion buys six Western Canada apartment properties

Centurion Asset Management and Centurion Apartment REIT have announced they are adding six multi-family properties in Manitoba, British Columbia and Saskatchewan to their portfolio. In total, the properties comprise almost 740 units and are either brand new, or recently constructed.

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Winnipeg’s Lount Corp. develops new niche: Luxury apartments

At 13 units, Winnipeg’s Dexter House may be small, but the multi-family project aims to make a big impression with an increasingly affluent demographic: the baby boomers. The concrete and steel, four-story development in trendy Osborne Village – which has a completion date of spring 2019 – is not a condominium project.

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Young executives share expertise, views on Canadian CRE

Five commercial real estate executives under the age of 45 provided perspective on the industry and their companies at the Real Estate Forum at the Metro Toronto Convention Centre on Nov. 29. The young executives covered diverse topics such as their regional markets and sectors, proptech and the merits of smaller companies versus institutional investors.

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Summit to buy 11 Montreal, GTA, Ottawa industrial properties

Summit Industrial Income REIT (SMU-UN-T) will spend $233.5 million to purchase 11 light industrial properties in Montreal, the Greater Toronto Area and Ottawa, the trust announced. The portfolio comprises just under 2.1 million square feet of gross leasable area and is 98 per cent occupied.

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Six months ago: Allied’s Emory focused on The Well, has plenty on go

Allied Properties Real Estate Investment Trust president and chief executive officer Michael Emory says pre-leasing the office component of The Well is the company’s top priority, but a number of other projects are also keeping him busy. “There’s no end of opportunities,” Emory told RENX in an interview.

Property Biz Canada

One year ago: Timbercreek buys six Calgary apartment buildings

Toronto-based Timbercreek Asset Management is eyeing the Alberta apartment rental market and is using the acquisition of six Calgary buildings as a launchpad to future Western growth in its portfolio. Timbercreek bought the multi-family portfolio for $142 million from Har-Par Investments, consisting of 685 suites.

Property Biz Canada

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