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Vanprop, Bosa plan huge Lansdowne redev. in B.C.
Vanprop, Bosa plan huge Lansdowne redev. in B.C.
Describing a development as a “legacy project” tends to get overused, but when the partners behind the proposed master-plan redevelopment of Lansdowne Centre in Richmond, B.C., describe it as a legacy maker, it feels like they mean it.
Tenant-landlord relations aren't all bad: CORPIQ
Relations between tenants and landlords in Quebec are much better than the media would have you believe, the heads of property owners' lobby group CORPIQ (Corporation des propriétaires immobiliers du Québec) believe.
McCain's $600M investment doubles Alberta operations
The world’s leading French fry maker is making the largest investment in its history, with McCain Foods announcing plans on Monday for a $600-million expansion of its potato processing facility in southern Alberta, creating 260 new jobs.
A record 100 towers could go up every year in T.O.
A record 25,000 new condominium unit completions are slated for Toronto in 2023 with an additional 100,000 units set to be completed between 2024 and 2028, according to research firm Urbanation.
Coromandel reaches agreements with lenders
Financially troubled Vancouver developer Coromandel Properties is no longer seeking protection under the Companies’ Creditors Arrangement Act (CCAA) after reaching agreements with its lenders. Coromandel has 16 active real estate projects within Vancouver, including the Cambie Street Corridor near Oakridge.
Toronto's ICE condos gives Airbnb exclusive rights
Toronto’s ICE condos have struck a deal with Airbnb that adds a 15 per cent booking surcharge to short-term rentals in the two towers. In exchange, Airbnb becomes the exclusive rental platform for the buildings on York Street.
OSFI takes control of Silicon Valley Bank’s Canadian unit
The Office of the Superintendent of Financial Institutions took control of Silicon Valley Bank’s domestic operations Sunday to limit the impact of a leading global technology financer’s sudden collapse. SVB has $2.6 billion in CRE loans on its books.
ATCO, George Gordon JV on Discovery Lodge services
BHP has awarded Wicehtowak Frontec Services, a JV between ATCO Frontec (ACO-X-T) and George Gordon Developments, a multi-year, base contract of approximately $86 million to provide camp support services at its BHP Jansen Discovery Lodge in LeRoy, Sask.
T.O. turning to bicycles and development shows it
Neil Pattison, senior vice-president of development at Graywood Developments, says city life is shifting. “The future of cities is not about the automobile. It’s become a very inefficient means of transporting people around a densely-compacted urban environment.”
Humber Cultural Hub targets two green certifications
Scott Valens, who is heading up development of the new Humber Cultural Hub at Humber College's Lakeshore Campus in Toronto, says sustainability is a core principal for the project, which targets LEED Platinum and Zero-Carbon Building and Design Standards certifications.
Morguard Corp. increases position in Morguard REIT
Morguard Corporation (MRC-T) announced it acquired 1,605,400 trust units of Morguard REIT (MRT-UN-T). Morguard (together with Paros Enterprises Limited and K. Rai Sahi) now owns 50,534,774 Units, representing 78.67% of the outstanding units.
BGO raises $2.2B in third U.K. secured lending fund
BentallGreenOak has achieved the final close of its third U.K. secured lending fund, with a total of $2.2 billion Cdn from more than 25 global investors. The fund is one of the largest fundraises entirely focused on the U.K.
PSP, EQT to buy Radius Global Infrastructure for $4B
PSP Investments and EQT Active Core Infrastructure will jointly acquire Radius Global Infrastructure, a multinational aggregator and owner of properties leased to wireless communications and other digital infrastructure operators, for approximately $4 billion Cdn.
Distress investor seeks $6B for new fund
Lone Star funds, one of the investors that made hay during the last downturn, is seeking $6B for a new opportunistic fund aiming to take advantage of the downturn in real estate values seen in the past 12 months.
Newmark buys 600-strong U.K. brokerage
Newmark (NMRK-Q) has bought U.K. brokerage Gerald Eve as part of a drive to ensure more than 10% of its revenue comes from outside the U.S. by 2025. Gerald Eve employs 600 across nine offices in the U.K.
Owners rediscover appeal of rental, short and long-term
ANALYSIS: As homeowners and investors struggle to cover mortgage payments and other debts, there’s been a noticeable spike in the number of short-term rentals. The increase in short-term rentals is revealed in data provided by U.S. based non-profit Inside Airbnb.
Growing share spending 25%-plus of income on mortgages
A growing share of Canadians are spending a worryingly high proportion of their earnings on mortgage payments, according to new Bank of Canada data, a potential sign of stress on borrowers.
Five things to know about T.O. spring real estate market
Realtors differ over when the spring market — typically the busiest time of the year — begins. In the hot downtown Toronto neighbourhoods it is already well underway. There are signs some listings may come to life in the coming weeks.
New Crown corporation promised for N.B. housing
The New Brunswick government is planning to streamline its housing operations into a new Crown corporation that will oversee the Residential Tenancies Tribunal, property management of the provincial social housing portfolio and development, implementation and evaluation of housing strategy.
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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