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Kin, Podium, Secure buy Toronto dev. site for 43-storey tower
Kin, Podium, Secure buy T.O. dev. site for 43-storey tower
Despite a cooling real estate market, Kin Capital Partners Inc. continues to invest in the Greater Toronto Area, with plans to build more multiresidential projects to meet the region's growing demand for housing.
Almadev building tower III at T.O.'s Galleria on the Park
Almadev has begun construction on its third tower at the master-planned Galleria on the Park development in Toronto, a flatiron, mixed-use condo known as Galleria III.
Groupe Sélection in serious financial difficulty
Groupe Sélection, one of the largest owners of residences for the elderly, is in serious financial difficulty. According to sources, Sélection's banking syndicate, which includes the National Bank, has appointed turnaround firm PricewaterhouseCoopers to represent it.
 | Forging Hamilton Hamilton experiences healthy Q3, amid interest rate increasesAlex ManojlovichDirector, Strategy and Research, Forge and Foster |
Calgary apartment building construction is booming
Across the country, competition is stiff among apartment hunters as the rental market gets tighter. In Calgary, that struggle to find rental space is fuelling an unprecedented amount of rental construction.
Offices to residential could aid downtown Winnipeg
The practice of converting office space into residential units has seen success in other Canadian cities and can play a key role in the recovery of downtown Winnipeg, said Kate Fenske, CEO of Downtown Winnipeg BIZ.
Bertone launches 73-unit Montreal condo project
Montreal-based Bertone Development Corp. announced the official launch of its prestigious Georges Henri project, a unique eight-storey, 73-unit architectural project that will be built in a sought-after Montreal neighbourhood in Brossard.
Giant Tiger CEO departs amid repositioning efforts
Giant Tiger Stores Ltd. chief executive Paul Wood departed the company last week in the midst of positioning the discount retailer as a go-to store for price-sensitive shoppers during the worst inflation crisis since the early 1980s.
Canadian Tire profit falls 20% as costs rise
Canadian Tire Corp. Ltd. (CTC-A-T) profit fell by almost 20 per cent year-over-year in the third quarter, as it faced higher costs for shipping and products and changing consumer habits amid inflation pressures.
Cineplex reports $30.9M third-quarter profit
Cineplex Inc. (CGX-T) reported a profit of $30.9 million or 43 cents per diluted share in its latest quarter compared with a loss a year earlier as theatre attendance and revenue both rose more than 30 per cent.
CMHC's rental construction loans shrouded in secrecy
The Canada Mortgage and Housing Corporation is lending billions to boost construction of rental homes without routinely disclosing the recipients of the money or where the units are being built, shrouding in secrecy a program providing developers with low-cost financing.
'Not a crash by any stretch of the imagination:' Tal
VIDEO: Benjamin Tal, deputy chief economist at CIBC Capital Markets, talks with the Financial Post’s Larysa Harapyn about the outlook for the Canadian economy in the fourth quarter.
Private mortgage lenders raise qualification standards
Private mortgage lenders are having a harder time accessing capital and are making it more difficult for borrowers to get a loan, choking off a major source of funds for those unable to qualify at a Canadian bank.
Online seekers looking for their ‘unicorn of a home’
A recent Point2Homes.com study on homebuyer searches shows the average Canadian home-seeker is searching for homes that are way below average in terms of pricing, with expectations not matching up with the reality of the turbulent housing market.
Marriott launches apartment-style brand
Marriott International is rolling out a brand of apartment-style accommodations in North America that will target longer-term travelers who are able to take their work with them. The company calls the new brand Apartments by Marriott Bonvoy.
Starwood Property Trust’s earnings rise over 50% to $195M
Barry Sternlicht assured investors Starwood Property Trust (STWD-N) is being extra careful as it seeks opportunities amid economic turmoil. “It’s something of a financial hurricane,” he said during the REIT’s third quarter earnings call on Wednesday.
Home prices rose Y-O-Y in 98% of U.S. metro areas
An overwhelming majority of metro markets saw home price gains in the third quarter of 2022 despite mortgage rates that approached seven per cent and declining sales, according to the National Association of Realtors’ latest quarterly report.
Korea raises project financing aid to $2.79B
South Korea is expanding its support for its beleaguered property sector, lifting liquidity for project finance asset-backed commercial paper to a total of 2.8 trillion won ($2.79 billion Cdn).
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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