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First Capital founder escalates dispute with REIT's management
First Capital founder escalates dispute with REIT's mgmt.
The founder of First Capital REIT has joined investor Ewing Morris and Co. in publicly criticizing the trust’s leadership, and in an open letter Dori Segal calls for the resignations or removals of its current CEO and board chair.
Victoria construction boom underlines CRE strength
Victoria’s unemployment rate improved to 4.3 per cent in October, driven by a booming construction industry that appears immune, so far, to the prevailing economic headwinds and ongoing labour shortage, according to recent numbers released by Statistics Canada.
 | The Long View Suburban Toronto records first period of positive net absorption since pandemicRichard CrenianFounder & President, ReDev Properties |
CanFirst acquires $222.6M GTA industrial portfolio
The CanFirst Industrial Realty Fund VII LP has acquired a 13-property, 710,389-square-foot portfolio in Vaughan, Ont., from IG Investment Management for $222.6 million.
Buyers line up for PC Urban's Coquitlam ind. project
Strong pre-construction demand is buoying hopes for PC Urban’s planned strata industrial project in Coquitlam, though the marketing launch remains months away. PC Urban bought the property in partnership with Nicola Wealth Real Estate for $24 million in May.
Vancouver restaurant openings rebound
Restaurant executives and entrepreneurs opened 27 new eateries between November 2021 and August in the 90 blocks of real estate the Downtown Vancouver Business Improvement Association (DVBIA) oversees, according to its Downtown Storefront Report.
Avery Group acquires B.C. hotel for $2.8M
Avery Group has purchased the historic OK Falls Hotel in Okanagan Falls, B.C., for $2.8 million. Avery Group also owns the former Weyerhaeuser mill, which it is redeveloping as Avery Industrial Park.
Doucet wins right to propose Cape Breton mixed-use
Bedford, N.S.-based Doucet Developments has won the right to negotiate a deal that could result in several residential and commercial buildings on Cape Breton Regional Municipality's downtown waterfront property in Sydney.
ICE District Loblaws City Market finally opens
A highly anticipated grocery store opened this week in downtown Edmonton, as Loblaws City Market joined the Ice District. The 22,000-square-foot store was slated to open in the fall of 2020, but was delayed by COVID-19.
dcbel pairs home energy system with LG batteries
Montreal-based dcbel is debuting a home energy system that combines its renewable energy ecosystem for homes with LG Energy Solution's batteries to provide resiliency against blackouts and natural disasters.
Real estate podcasts
Sherry Larjani, Spotlight Development: Solving the affordability riddle, CRE Podcast
Jennifer Djurkovic, Djurkovic Investment Properties: Following a family legacy in CRE, Tenant Experience Network
Benjamin Tal, CIBC Capital Markets: Softening housing market is not a crash, Down to Business
American Dream gets 4-year extension on $1.7B debt
Triple Five Group's American Dream in East Rutherford, N.J., the U.S.'s third-largest mall, is out of immediate hot water after its lenders agreed to a four-year extension on its $1.7 billion construction debt obligation.
Brookfield gathers US$125B war chest as CEO sees recession
Brookfield Asset Management Inc.’s (BAM-A-T) earnings declined as volatile markets weighed on valuations of private assets, but the firm says it’s still on track for its largest year of fundraising.
WeWork exits 40 U.S. locations after tepid forecast
WeWork Inc. (WE-N) forecast fourth-quarter revenue below estimates and said it will exit about 40 underperforming U.S. locations, as the workspace provider deals with high expenses and a strong U.S. dollar.
U.K. property slumps to worst quarter since 2009
Britain’s real estate sector recorded its worst return in more than 13 years in the third quarter of 2022 after a sharp rise in borrowing costs weighed on the industry, according to the MSCI UK Quarterly Property Index.
Over 500 units sold at 69-storey mixed-use T.O. tower
In just over a month, more than 500 of 630 suites have been sold at 8 Elm on Yonge, a 69-storey mixed-use tower by Reserve Properties and Capital Developments. The development was launched in collaboration with actor Simu Liu.
Devron proposes 40-storey mixed-use tower in Weston
Devron has proposed "South Station," a 40-storey tower adjacent to the Weston GO Transit and Union Pearson Express station. The proposed design by Copenhagen-based 3XN would be comprised of 458 residential units and 18,083 square feet of non-residential space.
BlackTusk proposes 16-storey mixed-use in Scarborough
BlackTusk Group plans a 16-storey mixed-use building at 673 Warden Ave. in Scarborough. The IBI Group-designed redevelopment would provide 274 residential units – 10 studios, 113 one-bedrooms, 124 two-bedrooms and 27 three-bedrooms – and 13,412 square feet of retail.
Number of ‘artisanal landlords’ is up - and so are the profits
New Statistics Canada data suggests that while the share of Canadians reporting rental income has grown modestly since 2000, thanks to the growing population the net number of small landlords is up about 32 per cent just since 2008.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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