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Summit REIT's public sendoff: Strong 2022 financials report
Summit REIT's public sendoff: Strong 2022 financials report
Just hours before being absorbed by U.S.-based GIC and Toronto’s Dream Industrial REIT, its Canadian partner, Summit Industrial Income REIT issued its final public financial report showing healthy boosts in virtually every measurable metric.
Lachance, Fonds invest $55M, convert Montreal office to apts.
Lachance Immobilier and the Fonds immobilier de solidarité FTQ have invested $55 million to convert a former 10-storey office building into a 142-unit, upscale residential rental property on Montreal’s Nuns’ Island.
Centron bringing 3,500-home project to Calgary area
Centron Real Estate Development and Construction's Clearwater Park residential community will bring more than 3,500 homes to Chestermere, near Calgary. A 22,000-square-foot retail centre offering fuel, confectionaries and a restaurant will also be constructed on the 580-acre site.
Behavox puts Montreal office space on sublease market
Announced with pomp in 2020, the Montreal innovation centre of Behavox was discreetly put on the sublease market in December. The 48,976 square feet of office space are located on the top two floors, the 26th and 27th, of Maison Manuvie.
Corporate Stays acquires two Montreal rental buildings
The founder of Corporate Stays, a leading provider of long-term rental solutions, announced the acquisition of two new buildings in Montreal. The studio apartments range in size from 646 to 1,076 square feet.
Oxford acquires Mass. biomanufacturing facility for US$125M
Oxford Properties Group today announced the purchase and long-term lease back of 92 Crowley Dr., a 120,000-square-foot state-of-the-art biomanufacturing facility under construction in Marlborough, Mass. The purchase price was $125 million US.
 | Equiton The time is right to invest in real estateSuccessfully investing in real estate means understanding that not all real estate is created equal. While single-family homes have experienced falling prices, multi-residential apartments continue to see positive gains. Sponsored by: Equiton |
Canopy by Hilton marks Canadian debut in Yorkville
Hilton, Easton's Group of Hotels and The Gupta Group today announced the opening of Canopy by Hilton Toronto Yorkville. Marking the brand's Canadian debut, the 184-room hotel's design was led by Studio Munge.
Oshawa shatters building permit record in 2022
Building permit activity in the City of Oshawa in 2022 was more than $900 million, exceeding any year in Oshawa’s recorded history and shattering its previous record of $614 million.
Bio Graphene's process creates a cleaner graphene
Toronto's Bio Graphene Solutions is pioneering a process to create high-quality graphene using organic materials, which can be used as a carbon-reducing performance enhancer for concrete. It claims the process is cleaner for the environment and more affordable.
REIT fourth-quarter financial results
Choice Properties REIT, (CHP-UN-T), Business Wire
Dream Residential REIT, (DRR-U-T), Business Wire
ERES REIT, (ERE-UN-T), Globe Newswire
Morguard REIT, (MRT-UN-T), Canada Newswire
RioCan REIT, (REI-UN-T), Globe Newswire
Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire
Rio Casino owner raises $850M, forms REIT
New York-based Dreamscape Cos., which owns the Rio Hotel & Casino, has raised $850 million to remodel the Las Vegas resort and invest in similar properties. Dreamscape CEO/founder Eric Birnbaum created a REIT to own the 2,500-room resort.
Hyundai buys Tribeca building for NYC offices, showroom
Automaker Hyundai Motor Group bought a Manhattan building to house offices and a showroom. Hyundai, based in Seoul, is paying about $275 million in cash for 15 Laight St. in the Tribeca neighborhood,
Rising rents push U.S. industrial tenants to more remote areas
While the demand for U.S. industrial space is strong, rising rents have many tenants looking at locations that aren’t in the most desirable areas to contain costs, says real estate attorney Steve Lurie, a partner with Los Angeles-based Greenburg Glusker.
U.S. multifamily REITs coming back to Earth
Historic levels of apartment construction and weaker renter demand have brought U.S. multifamily landlords’ financial performance more in line with historical levels. J.P. Morgan noted elevated supply poses the greatest risk to the residential REIT sector this year.
Average rent in Canada up 10.7% since last year: Urbanation
A new report from Rentals.ca and Urbanation says the average listed rent for all property types in Canada jumped by 10.7 per cent year-over-year to $1,996 in January, the ninth straight month of double-digit increases.
Toronto residents to see 7% property tax increase in 2023
Toronto city council has adopted the largest property tax increase in decades. Council adopted a 5.5 per cent property tax hike and the 1.5 per cent increase in the city building levy.
Ottawa-Gatineau housing starts fall 84% Y-O-Y: CMHC
Housing starts in Ottawa-Gatineau plummeted 84 per cent year-over-year in January, the Canada Mortgage and Housing Corp. says. Builders started work on 101 new units last month, down from 640 in January 2022, the national housing agency said Wednesday.
Homebuyers are buzzing again, but where are the sales?
Toronto-area realtors say they’ve been fielding plenty of client calls this month but so far, a lot of talk hasn’t translated into much action as potential buyers and sellers are worried about rising interest rates and a lack of listings.
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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