Ivanhoé portfolio overhaul means less retail, office: CEO

RENX  Residential, Commercial  •  Office, Apartments, Industrial, Retail  •  National, International

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.

Mortgage delinquencies expected to jump, CMHC says

Commercial  •  Globe and Mail (Sub. required)  •  CBC  •  CMHC Residential Mortgage Industry Report

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.

Feds pledge $168M for Ottawa affordable housing

Residential  •  Ottawa Business Journal

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 demand helps Edmonton CRE buck Cdn. trend

RENX  Commercial  •  Land, Industrial, Investment  •  Calgary, Edmonton

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.

Ottawa planning endorses controversial Orléans highrise

Commercial  •  Ottawa Citizen

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.

The Saskatchewan Edge › Selling is a form of art

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

SmartStop to develop self storage facility in GTA

Commercial  •  PR Newswire

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.

New Loblaws opens in Lake Shore Blvd. community

Commercial  •  Toronto Star  •  PR Newswire

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.

New digital tech school opening in downtown Calgary

Commercial  •  Calgary Herald

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.

Future of WE Charity’s real estate remains uncertain

Commercial  •  Toronto Star

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.

Concordia opens Jonathan Wener Centre for real estate

Commercial  •  Financial Post

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 to pay $250,000 to Ontario mortgage regulator

Commercial  •  Globe and Mail (Sub. required)

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.

AIMCo and Canmoor buy six UK warehouses

Commercial  •  IPE Real Estate

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 ready to expand ‘On the Run’ in the U.S.

Commercial  •  Globe Newswire

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 forced to relinquish $1.6B mall portfolio

Commercial  •  Bisnow

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.

CalPERS commits US$1B for new office, retail investments

Commercial  •  IPE Real Estate

Orchard real estate platform raises $69 million Series C

Commercial  •  Tech Crunch

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.

Silvera for Seniors breaks ground on Glamorgan Campus

Residential  •  Calgary Herald

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.

Toronto Airbnb registration rules start this week

Commercial  •  Globe and Mail

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.

Are you missing $900K? Alberta’s unclaimed property registry.

Residential  •  Edmonton Journal

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.