Primaris REIT at one: A year of 'significant' accomplishments

A year after Primaris REIT was spun off as a separate publicly traded entity by its former parent H&R REIT, chief executive officer Alex Avery offered up a long list of accomplishments for his fledgling retail trust.

First Capital reaches truce in proxy fight with activist investors

Toronto-based First Capital REIT (FCR-UN-T), which owns a $10-billion property portfolio, has agreed to add former CIBC and TMX Group executive Richard Nesbitt to its board, the third new trustee to join the REIT in recent months.

Allied plans market hiatus as sentiment sours

Toronto-headquartered Allied Properties REIT (AP-UN-T) is fortifying its balance sheet as pessimism reigns over the future of office properties. “Neither the bond market nor the equity capital markets are interesting to us in their current state,” CEO Michael Emory said.

Orlando acquires 350 acres of Brantford industrial land

Orlando Corporation has made one of the largest land acquisitions of the new year, buying a 350-acre tract of industrial development property just outside Brantford, Ont., for $190 million.

How Bissada pulled Home Capital back from the brink

Home Capital Group (HCG-T) CEO Yousry Bissada had second thoughts about using the Titanic as an analogy for the tangled combination of catastrophes that nearly sank the alternative mortgage lender in 2017, just before he was hired to rescue it.

Ivanhoé Cambridge an investor only: Palladitcheff

Historically, Ivanhoé Cambridge has acted as a real estate operating company that invested, developed and managed its own buildings. The company now presents itself “as an investor and only as an investor,” president and chief executive officer Nathalie Palladitcheff says,

Distrikt proposes three mixed-use towers in Oakville

Distrikt Developments is seeking zoning changes to permit three mixed-use buildings near the Oakville GO Station. The 44-, 49- and 58-storeys towers would include 1,748 residential units, 30,311 square feet of retail space and 24,423 square feet of office.

Daniels plans to 'lead' on decarbonizing housing

Toronto-based builder and developer Daniels Corporation has unveiled its decarbonization roadmap as it develops Brampton’s largest low-carbon, master-planned community. Its commitment for 2021 to 2025 aims to achieve a 40 per cent reduction in greenhouse gas emissions from its baseline.

Industrial space still precious in Halifax market: Colliers

A couple of newly completed properties in Burnside Park have eased some of the pent-up demand for Halifax-area industrial space, a new report from Colliers says. Colliers expects an increase in the vacancy rate this quarter between 1.97-2.4 per cent.

Port Colborne grain elevator sells for $4M US

On Wednesday London Agricultural Commodities (LAC) announced the purchase of Ceres Global Ag’s Port Colborne terminal (formerly Robin Hood) for $4 million US. There was a purchase agreement in the lease between the two companies, which LAC exercised.

Real estate podcasts

Peter Altobelli, Yardi: Top 5 Highlights: Toronto Real Estate Forum 2022, CRE Podcast 

Stéphan Déry, Real Property Services: The future of work & real estate, REALtalk

Randall Bartlett, Desjardins Economics Studies: How immigration, aging population will affect housing market, Down to Business

REOC fourth-quarter financial results

Dream Unlimited Corp., (DRM-T), Business Wire

Fiera Capital Corp., (FSZ-T) , Canada Newswire

Morguard Corp., (MRC-T), Canada Newswire

Sienna Senior Living Inc., (SIA-T), Globe Newswire

PGIM provides $58M for Oxford’s $125 life science facility

Oxford Properties Group has received $58 million in fixed-rate financing from PGIM Real Estate for the acquisition of 92 Crowley, a 120,000-square-foot, two-storey life science facility under construction in Marlborough, Mass. The acquisition price was $125 million.

Columbia Property Trust defaults on $1.7B office loan

Columbia Property Trust, an office landlord controlled by Pacific Investment Management Co. (PIMCO) has defaulted on about $1.7 billion of mortgage notes on seven U.S. buildings, a sign of widening pain as values fall and interest rates rise.

Cineworld warns shareholders may be wiped out

Cineworld said Friday its shareholders may see the value of their equity wiped out as it looks to exit from Chapter 11 bankruptcy protection after it failed to find a buyer for the world’s second biggest cinema chain.

Leveraged European real estate faces its reckoning

The reckoning has begun for continental Europe’s highly leveraged real estate companies. With property values falling in response to higher borrowing costs, balance sheets are feeling the strain and bosses are taking defensive measures.

Calgary’s low equity, high cash flow attracts investors

“With Calgary’s economy growing beyond pre-pandemic levels, the rental market tightened to conditions not seen since Alberta’s last economic boom,” Michael Mak, a senior analyst with CMHC, said in noting what lies ahead for 2023, boosting investor interest, 

Edmonton kills 50-year-old apartment tax

Owners of rental apartments in Edmonton will get an 11.7 per cent tax cut over five years after city council scrapped a half-century-old policy Wednesday that charges a 15 per cent higher tax.

What $1 million can buy in Canada's major markets

Royal LePage determined the average home in Canada valued between $950,000 and $1,050,000 in December had 3.2 bedrooms, 2.6 bathrooms and 1,763 square feet of living space.

Average price in Mississauga lowest in 2 years

The average price for real estate in Mississauga fell to $920,587, according to statistics from the Toronto Real Estate Board (TRREB) - its lowest mark in two years last month as increased borrowing costs continued to drive prices down.