Their peers might be “envious of apartment owners” because they’re well-positioned to ride out a recession, but SVN Rock Advisors Inc., CEO Derek Lobo says they need to be prepared for potential issues to get through tough times.
Bruce Flatt, CEO of Brookfield Asset Management, (BAM-A-T), said stock market volatility created by the coronavirus pandemic is more controllable than previous meltdowns. “For us, compared to the direct hit we took on 9/11, this uncertainty and volatility feels manageable,” he said.
In light of the latest developments and directives issued by the government of Québec, Ivanhoé Cambridge will close all shopping centres in Québec to the public until May 1. Essential services will be maintained.
Lee Piccoli founded Fusion Homes in the Southwestern Ontario city of Guelph in 1999, when he was just 24. The company has since grown into a prominent developer of low-, mid- and high-rise residences in Southwestern Ontario, taking on increasingly extensive projects.
Northview Apartment REIT (NVU-UN-T) today announced the expiration of the 30-day go-shop period among the REIT, affiliates of Starlight Group Property Holdings and KingSett Capital pursuant to which the purchasers will acquire Northview.
The Fairmont Chateau Laurier has closed its doors for the first time in its 108-year history because of the COVID-19 pandemic. On Saturday, the last guests exited. The hotel will be shut down for at least a couple of weeks.
First Capital REIT (FCR-UN-T) announced today the introduction of the FCR Small Business Support Program, a $30-million program to bring immediate relief to small business owners in the company’s portfolio.
Restaurants Canada is calling on all provincial governments to take evictions and property seizures off the table until solutions are developed to help businesses impacted by COVID-19 meet rent obligations. For most foodservice operators, the biggest fixed cost is rent.
No part of the economy is spared from the coronavirus, but the pandemic is going to hit hardest Canada’s roughly two million workers who do not enjoy permanent work arrangements, according to Andrew Agopsowicz, senior economist at RBC Economics.
Labour leaders, including the Laborers’ International Union of North America, are urging the federal and provincial governments to take immediate steps to protect the health and safety of construction workers and the public during the novel coronavirus pandemic.
Grocery stores are stepping up their efforts to hire temporary workers to cope with a surge in demand on store services. This week, Loblaw Cos. Ltd. set up a new website, loblawjobs.ca, specifically dedicated to recruiting temporary employees.
COVID-19 retail updates
When Toronto council recently upgraded its climate change plan, one of its 2050 goals was cutting emissions by 40 per cent for every building. For older brick homes and Toronto’s far-flung portfolio of 1960s-vintage high-rise apartments, owners and landlords face a challenge.
Starlight U.S. Multi-Family (No. 1) Core Plus Fund (SCPO-UN-X) has entered into agreements to acquire a 320-unit, core-plus multifamily property in Austin, Texas, and a 288-unit, core-plus multifamily property in Raleigh, N.C., for US$110 million.
The special committee of WeWork’s board is preparing for a fight against Japan’s SoftBank Group Corp saying SoftBank should complete its tender offer promised to the office sharing company’s employees and shareholders.
China has made a significant tweak in its rigid land management system that could accelerate urbanisation, especially in large cities and affluent coastal areas, that could spur urban development in a bid to keep growth on track amid the Coronavirus.
Realtors across Canada are kicking off the busy spring selling season with the unprecedented step of cancelling open houses, moves that could contribute to slower-than-forecast sales in the country’s biggest housing markets this year.
Despite the Bank of Canada dropping its overnight rate by a full percentage point this month, advertised interest rates for new mortgage applications have been climbing significantly over the past few days.
Toy Factory Lofts, a Liberty Village condo, is giving its residents a little breathing room at an economically uncertain time, offering them the option of deferring their April maintenance fees.
Under Fannie Mae‘s (FNMA) guidelines for single-family mortgages, U.S. homeowners who are adversely impacted by COVID-19 may request mortgage assistance by contacting their mortgage servicer. Also, foreclosure sales and evictions of borrowers are suspended for 60 days.