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First Capital REIT, Sandpiper Group settle dispute
First Capital REIT, Sandpiper Group settle dispute
Months of public, and at times acrimonious discord, between First Capital REIT (FCR-UN-T) management and a group of disgruntled unitholders may have been resolved with a settlement agreement announced Monday morning.
Gupta Group launches sales for 2-tower Yonge City Square
It has taken several years of planning, as well as changes to the name and the original plans, but The Gupta Group has launched sales for its newest Toronto development at 4050 Yonge St. in North York.
Nordstrom closures open up prime CRE space
With Nordstrom’s announcement it’s pulling out of Canada, some of the most desirable commercial real estate in the country is suddenly up for grabs, including the cavernous space occupied by the U.S. retailer in CF Toronto Eaton Centre.
How remaining major retailers are faring
As Nordstrom exits the Canadian market, here’s a look at some of the Canadian and international large retail chains — Hudson’s Bay, Simons, Holt Renfrew, Winners and Walmart — still operating in the country and how they’re faring.
Manitoba plant protein processor Merit Foods in receivership
On Wednesday, PricewaterhouseCoopers took over as receiver for both Merit Functional Foods Corp. and the numbered company that owns Merit's processing plant and property in Winnipeg's CentrePort industrial park. The 94,000-square-foot plant opened in February 2021.
Parkland nixes plan for B.C. renewable diesel refinery
Parkland Corporation, one of Canada's largest gas refiners and suppliers, has cancelled plans to construct a stand-alone renewable diesel facility at its refinery in Burnaby, citing an uncertain economy and the impact of the U.S. Inflation Reduction Act.
Hamilton can meet housing targets without Greenbelt: Report
Hamilton already has enough space to build 87,600 homes within its urban boundary — close to double its provincial target — without needing to open up the Greenbelt or expand into prime farmland, according to a new report.
Collapsed condo developer facing $10M suit at other condo
Evertrust, the Greater Toronto Area-developer behind a collapsed luxury condo project in Welland, Ont., is facing a $10 million lawsuit from residents in another condo in Niagara Falls who say their building is riddled with issues.
Ivanhoé looks to densify and diversify shopping centres
Ivanhoé Cambridge is exploring ways to densify some of its properties across Canada, joining a growing trend in the retail industry. Julie Bourgon, head of retail, Canada, said property owners today look at shopping centre assets differently.
The revitalization of St. John's Ropewalk Lane
After a period of decline, businesses are moving back to Ropewalk Lane in St. John's — a surge of people from different backgrounds bringing their cultures and businesses with them — and the street is now a retail hub for the area.
Fogo de Chão Canada to open first location in The Post
Brazil-headquartered restaurant chain Fogo de Chão has signed a 7,778-square-foot lease agreement to open the first Canadian Fogo de Chão restaurant in downtown Vancouver at The Post, QuadReal Property Group’s revitalization of the historic Canada Post building.
Top-10 major upcoming construction projects
The accompanying tables show the Top-10 major upcoming Toronto, Ottawa, Montréal, and Vancouver, Calgary, Edmonton construction industry projects They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.
BGO, Graymark building 100,000-sq.-ft Calif. sciences campus
BentallGreenOak and Grey Matter by Graymark Capital have started construction on Bayshore Bio, a 100,000-square-foot life sciences campus in Palo Alto. The project is a three-phase conversion of existing office and R&D buildings into lab space.
Mass PRIM invests in real estate debt via BGO fund
Massachusetts Pension Reserves Investment Management Board (Mass PRIM) has approved a $100 million commitment to BentallGreenOak US Value-Add Lending Fund, a fund planning to raise $500 million. The fund is BentallGreenOak’s first U.S.-only debt fund.
CBRE ices plans to build Dallas tower
CBRE has confirmed plans to build and lease a new 27-storey, 750,000-square-foot office tower are on hold, and that it will instead move its global headquarters to a former Hana co-working facility in Dallas’ Klyde Warren Park.
Amazon delays construction of Phase 2 of Virginia HQ
Amazon.com Inc said on Friday it would push back the start of construction for the next phase of its Virginia headquarters, months after the e-commerce giant announced job cuts spanning more than 18,000 roles amid a sobering economic outlook.
Real estate inventory levels 'shockingly low': RE/MAX Canada
Chris Alexander, president of RE/MAX Canada, talks with the Financial Post’s Larysa Harapyn about the low levels of housing for sale, a phenomenon being seen “in major cities across the country.”
Milton ground zero of Canada’s rising mortgage crisis
Milton has the most mortgage holders — 79 per cent of owner households — in the country, according to Statscan numbers recently crunched by Simon Fraser University's Andy Yan. (In Toronto it’s 57 per cent, and nationally, 60 per cent.)
Average Ottawa home price drops $130,000 in one year
New statistics from the Ottawa Real Estate Board show the average sale price for a new home in Ottawa in February was $708,968, down 15 per cent year-over-year. The average price was $837,517 in February 2022.
Canada's rental housing market lags the U.S.
ANALYSIS: The rental markets in the United States and Canada cannot be more dissimilar, especially when it comes to apartment rents, which have fallen in most U.S. cities, while spiking across Canada.
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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