Dream Hard Asset Alternatives Trust (DRA-UN-T) is narrowing its focus to investments which generate strong financial returns and provide positive social and environmental impacts, and will change its name to Dream Impact Trust on Oct. 26.
The more virtual conferences George Przybylowski organizes, the more advantages he sees for getting hundreds, if not a few thousand, commercial real estate executives together online. That experience will culminate with the Real Estate Forum in Toronto on Dec. 2-3.
HBC claims Les Galeries de la Capitale and Les Promenades Gatineau are no longer “first-class” shopping centres fulfilling their obligations and it has the right not to pay all of its rent, president/CEO Ian Putnam said in a sworn statement.
Warehousing and fulfillment centres are the “number one best bet” when it comes to Canadian real estate investments this year, according to PwC Canada and ULI’s Emerging Trends in Real Estate report.
The builders of the four-million-square-foot Zibi community in Ottawa and Gatineau will partner with Hydro Ottawa and Kruger Products to create the zero-carbon district energy system which will power the entire development.
Concord Pacific has released new renderings of its upcoming Concord Metrotown development, which will include B.C.’s tallest tower. Tower one will measure 723 feet — dwarfing Shangri-La residences and hotel’s 659 feet. Concord Metrotown’s Towers two and three will be 530 and 385 feet, respectively.
In the past several years, three large condominium projects have put down roots around Jarvis and Dundas Streets, just southeast of Ryerson’s campus, including, Dundas Square Gardens, Pace Condos and Grid Condos.
The federal government is prepared to offer small businesses rent and mortgage relief for October — but that money won’t get into the hands of business owners until November, said Laura Jones, executive vice-president of the Canadian Federation of Independent Business.
In Canada’s last downturn, government spending on infrastructure came too late to stimulate the economy and get people back to work. SNC-Lavalin Group Inc. (SNC-T) chief executive Ian Edwards wants to ensure politicians of all stripes learn from past mistakes.
The Canada Infrastructure Bank paid $3.8 million in termination benefits as part of a senior management shakeup. Citing privacy laws, the bank says it cannot provide further details other than to say the money went to more than one person.
Podcasts from the real estate world
Benjamin Tal, CIBC: Rising home prices amid a major recession, Down to Business: Episode 73
Bradley Cumming, Freed Developments: CPA In The Fast Lane, Highview Partners People Who Perform: Episode 23
Wendy Silverstein, Silver Eagle Advisors: ‘More Pain Before This Gets Better’, Bisnow
Real estate business updates
Brookfield Asset Management (BAM-A-T) plans to launch an initial public offering for its $1.4 billion Australian coal export terminal next week, three sources told Reuters. The IPO will compete for the title of Australia’s biggest float in 2020.
Montreal-based Dalfen Industrial has closed on five last-mile industrial buildings in major Texas markets: Mark IV Commerce Center in Fort Worth and Tri-County 5 & 7 in San Antonio. Mark IV Commerce Center is a new three-building, class-A, 1,025,500-square-foot industrial park.
Adam Neumann, WeWork’s co-founder who left last year during a floundering attempt to go public, invested US$30 million in Alfred Club Inc., a startup that provides apartment buildings with services such as concierge-like staff and software to manage maintenance requests.
NexPoint Hospitality Trust (NHT-U-X) announced today it has entered into a settlement agreement with Condor Hospitality Trust, Inc. following Condor’s termination of the previously announced merger agreement. NexPoint has agreed to make three payments to Condor totaling US$7 million.
The flight from big cities is taking people to places where houses and yards are bigger. Also, property taxes. Toronto and Vancouver, the country’s two most expensive housing markets, are both property tax bargains, as is Calgary.
Elise Stern, a broker with Harvey Kalles Real Estate Ltd., says property swaps that never make it to the MLS are becoming increasingly common as sellers try to avoid having lots of visitors wandering through during the coronavirus pandemic.
Paragon Design Build, an up-and-coming local real estate firm, has launched its own dedicated online rental portal, a move the company hopes will help it corner the “affordable luxury” market in Winnipeg.
OPINION: One of the weirder outcomes of the global pandemic has been a surge in house prices. Despite the worst economic downturn since the Great Depression, prices are up everywhere from London to Sydney to Manila.