GTA residential land increasingly scarce, costly

GTA residential land increasingly scarce, costly

As residential land gets more scarce and expensive across the GTA, investment activity shows strong confidence in the sector. “When you increase demand and don’t increase supply to accommodate it, you’re going to increase prices,” said Mike Czestochowski of CBRE.

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CT REIT plans new developments, internalizes management

CT REIT was described as “reliable, durable and growing” during its Q3 2018 earnings conference call by president and CEO Ken Silver. To continue that trend, Silver announced an in-sourcing of most of its property management, a half dozen new developments and an increase in its distributions beginning in January 2019.

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Allied adds to downtown Vancouver office holdings

Allied Properties REIT is increasing its presence in Vancouver, acquiring two office buildings in the downtown. “These are strategic acquisitions for Allied, in that we’re increasing our penetration in urban Vancouver just as it’s transitioning to a primary Canadian office market,” said Michael Emory, Allied’s president and CEO.

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Worst timing in Vancouver history for ‘vacancy controls’

GUEST COLUMN: Rent controls already force Vancouver landlords to follow strict rules, but this is not enough for some tenant advocacy groups pushing a controversial policy they call “vacancy controls.” They argue the right of landlords to charge market rates when a suite becomes vacant is unfair to tenants, and that rents should be maintained at the previous rates upon new occupancy.

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People Space: GWL promotes Finkbeiner, new CFOs at Morguard…

Great-West Lifeco has appointed Paul Finkbeiner to the new position of executive vice-president, global head of real estate. Finkbeiner, who was president at GWL Realty Advisors, will report to Raman Srivastava, executive vice-president and global chief investment officer of Great-West Lifeco.

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Avison Young’s ‘full global expansion’ kicks into high gear

Avison Young CEO Mark Rose says his firm has been hoping to purchase U.K.-based GVA for years. This week, the rapidly growing Toronto-based real estate services firm hit paydirt, and in the process ramped up the pace of its global expansion plans. “We knew the company very well, we knew the owners,” Rose told RENX.

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New Energy Star certification for high-rise residential

Natural Resources Canada has introduced an Energy Star certification for new mid- and high-rise residential buildings for an Ontario pilot program. “The Energy Star Multifamily High-Rise (New Construction) Pilot Program broadens the Energy Star program suite in Canada, starting with the Energy Star for New Homes program for low-rise homes,” said NRCan’s Catherine Leroux. 

Sustainable Biz Canada

Six months ago: H&R to sell U.S. retail, focus on residential

H&R Real Estate Investment Trust will sell 63 U.S. retail properties for $633 million US and use a “significant share” of the proceeds to fund acquisitions for its Lantower Residential division. The sale includes all of H&R REIT’s retail properties in the United States, with the exception of 16 gas stations and convenience stores.

Property Biz Canada

One year ago: Boardwalk to add up to 15,000 apartments

Boardwalk REIT is forging ahead with a plan to grow its portfolio in strategic locations, providing it with more geographic diversification. Sam Kolias, chairman CEO said the last two years of a very difficult Western Canadian economy and a significant number of new luxury apartment rentals have taught Boardwalk many lessons.

Property Biz Canada

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