Montreal-based real estate giant Ivanhoé Cambridge is preparing to put more of its eggs in the residential and industrial-logistics baskets and less in shopping centres and office buildings in coming years says Nathalie Palladitcheff, its president and CEO.
Canada’s housing agency, CMHC said there could be a “significant increase” in mortgage delinquencies later this year as banks’ loan deferrals during the COVID-19 pandemic end. Mortgage Investment Corporations were already seeing a rise in delinquencies before the pandemic.
The federal government is providing nearly $168 million, primarily as a mortgage to the City of Ottawa, for the construction of 698 affordable housing units in four separate buildings just west of downtown Ottawa. The project will be managed by Ottawa Community Housing.
Industrial property and land transactions showed some strength in Edmonton’s pandemic-battered commercial real estate market in the second quarter of 2020, according to a new report from Altas Group’s Data Solutions.
Toronto developer, the Torgan Group, has received the go-ahead from the Ottawa city council’s planning committee to build a 16-storey highrise, on a triangular parcel of land, near Place d’Orléans, despite opposition from some in an adjacent community.
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SmartStop Self Storage REIT, Inc. announced it intends to develop a new, state of the art, self storage facility and has entered into a purchase and sale agreement to acquire approximately 1.2 acres of land in a retail shopping centre with a capacity for a 1,050-unit self storage facility.
With a grocery store, Shoppers Drug Mart and Joe Fresh flagship, there’ll be plenty within the $400M Toronto development to keep shoppers busy. But it’s the 850 condos and office space for 1,000 Loblaws workers that has the company thinking longer-term.
SAIT’s School for Advanced Digital Technology will be located in the historic Odd Fellows building on 6th Avenue S.W., and is being funded by a $30-million donation by Calgary businessman and philanthropist David Bissett.
WE Charity paid $26.1 million for Toronto real estate including six storefront properties near its Queen St. E. office, according to Ontario land registry documents. When announcing its shutdown in Canada Wednesday, the future of its properties was not addressed.
A first in Canada, the Jonathan Wener Centre for Real Estate has opened at Concordia University’s John Molson School of Business. Jonathan Wener, 71, is chairman of Canderel and Concordia chancellor. His $10-million Campaign for Concordia: Next-Gen. Now created the centre.
Fortress Real Developments Inc. will pay $250,000 for violating Ontario mortgage rules in the first direct penalty against the troubled company. Between 2009-2017, Fortress helped raise $920 million for developers by facilitating the sale of syndicated mortgage investments to thousands of retail investors.
Alberta Investment Management Corporation has teamed up with asset manager Canmoor to buy six UK distribution warehouses from LondonMetric Property, investing CAD$96.8M.
Parkland Corporation (PKI-T) has acquired the license for the exclusive use of the On the Run trademark for most U.S. states. The acquisition positions Parkland to expand On the Run across the U.S. creating a unified, N.A. convenience store brand.
Starwood Capital Group has surrendered control of seven U.S. shopping centers to a partnership between Pacific Retail Capital Partners and Golden East Investors after it defaulted on debt associated with the properties.
California Public Employees’ Retirement System (CalPERS), a US$411B pension fund, is looking to invest more than US$1B in office and retail property markets, despite weakening conditions, with its two existing investment partners CommonWealth Partners and First Washington Realty.
Orchard, the tech-forward residential real estate platform, which facilitates the purchase of a home before selling an existing one, announced the close of a $69 million Series C funding led by Revolution Growth, that follows first-round funding of $138 million.
A groundbreaking ceremony will kick-off construction of Building 3000 at the Glamorgan Campus, on undeveloped land adjacent to its newly renovated Westview supportive retirement-living community. The independent-living housing facility is the latest in the Silvera for Seniors development.
Renting out properties for short-term stays is getting more complicated in Canada’s largest city. Among several new rules, Toronto homeowners will have to register with the city to fill their units for any period less than 28 days.
Put your hand up if you’ve ever casually misplaced nearly $1 million. It happened to at least one Albertan, according to the province’s unclaimed property registry. Now they’re looking for the rightful owner of $900,000 through the website MissingMoney.com.