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PC Urban, Fiera fund JV to build Esquimalt rental apartments
PC Urban, Fiera fund JV to build Esquimalt rental apartments
Vancouver-based real estate development company PC Urban Properties, in partnership with the Fiera Real Estate CORE Fund, is continuing to expand its purpose-built rental portfolio in British Columbia with a new mixed-use project in Equimalt which includes 198 apartments.
Caisse loses $24.6 billion in worst showing since 2008
A net investment loss of $24.6 billion for 2022 translates into a negative annual return of 5.6 per cent, the Caisse said Thursday. However, real assets advanced 12 per cent — paced by a 12.4% return at Ivanhoe Cambridge.
Foreign homebuyer ban slows rental housing construction
Canada’s ban on foreign purchases of residential property is creating barriers to construction of new rental housing, another unintended consequence stemming from a law that was supposed to help Canadians buy more homes by barring foreign competition.
Mark Holly named Crombie REIT CEO as Don Clow retires
Don Clow will end his 13.5-year tenure as Crombie REIT’s (CRR-UN-T) top executive on Feb. 28 and be succeeded by current Empire senior vice-president Mark Holly, the trust has announced.
CRE alive and well in Montréal: JLL Canada
JLL Canada is seeing continuous momentum in Montréal CRE growth, unveiling key trends and insights on recent activity. 2022 was a record year for the firm in Montreal with 382 brokerage transactions totalling over 15 million square feet.
 | 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 |
Firm consolidates workers in Calgary's Keynote office tower
Burns & McDonnell, which has provided engineering and construction services in Canada since the 1940s, has relocated its 70 Calgary employees from Quarry Park into 16,000 square feet in the 14-storey Keynote office tower in the Beltline district.
Construction firm opens Western HQ in Calgary
Concord, Ont.-headquartered construction firm Buttcon, founded in 1979 by Michael A. Butt, opened an office in Calgary last year after recognizing opportunities in Western Canada. It also has an office in Ottawa.
Loblaw sees profit growth outpacing sales
Loblaw Cos. Ltd. (L-T) saw adjusted profits rise 11.7 per cent in Q4 as food prices continue to rise, consumers shop at its discount grocery stores, and demand remained strong for beauty products and cough and cold medicine at drugstores.
DEEP Earth builds Canada’s first geothermal plant
DEEP Earth Energy is borrowing techniques from the oil and gas sector to build Canada’s first commercial geothermal plant in southeast Saskatchewan – and replace coal-based electricity with a clean energy source.
 | The Industrial Real Estate Show Financing industrial propertiesChad GriffithsPartner, NAI Commercial |
REIT fourth-quarter financial results
CAPREIT, (CAR-UN-T), Globe Newswire
City Office REIT (CIO-N), PR Newswire
Crombie REIT, (CRR-UN-T), Canada Newswire
Slate Office REIT, (SOT-UN-T), Business Wire
Brookfield’s Flatt sees hot CRE demand despite recession
The fundamentals for commercial real estate have never been better at this stage of a downturn, according to Brookfield Asset Management chief executive officer Bruce Flatt, who says demand for the best space is strong and vacancy is low.
A look inside Oxford, Related's Hudson Yards
Manhattan's Hudson Yards, developed in the 2010s by Related Companies and Oxford Properties Group, includes over 100 shops and restaurants, a school, a hotel, and over 4,000 residences. The commercial office space includes the headquarters of behemoths BlackRock and WarnerMedia.
Amazon wants employees to return to the office in May
CEO Andy Jassy told Amazon’s more than 1.5 million employees worldwide in a memo Friday he will start requiring them to report to Amazon offices at least three days per week. The change is to take effect May 1.
CoStar's bid to buy Realtor.com falls through
CoStar Group's bid to add the company that owns Realtor.com to its data and listings empire has fallen apart. The firms had been in discussions on a deal that would see Move sold to CoStar for roughly $3 billion.
GTA new-construction home sales at 23-year low
New-construction home sales in the GTA plunged to a 23-year low in January, as prices dipped on both a year-over-year and a monthly basis with consumers still hesitating to buy amid higher borrowing costs, BILD reported on Thursday.
Prices have dropped, but T.O. affordability worse
It’s a frustration many aspiring first-time buyers have felt for months — and analysis from Ratehub.ca confirms it. Home prices may have dropped in Toronto, but you need to make more money to afford one compared to this time last year.
Tax increases in Vancouver, Surrey set to soar
B.C.’s two largest cities – Vancouver and Surrey – are bracing for unprecedented property tax increases of up to 17.5 per cent, as they grapple with new policing costs and what they say are necessary catch-ups ignored by previous councils.
Laurentian University to sell president's house
Sudbury's Laurentian University will sell the president's house as part of its court-guided restructuring, now that it has exited insolvency proceedings. Laurentian purchased the large house, which is also a space for university gatherings, in 1965 for $130,000.
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