CAPREIT makes $244M repositioning of Ont. portfolio
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has repositioned its Ontario portfolio by selling four properties – two in Scarborough and two in Ottawa – and acquiring one in Kanata.
Vancouver council approved the controversial Broadway Plan late Wednesday night. The plan contemplates the next 30 years for an area of almost 500 city blocks along the Broadway subway line, expecting the population to increase from about 78,000 residents to as many as 128,000.
Plaza Pointe-Claire could soon have new owners. Montreal-headquartered developer Sotramont is one of the potential new buyers of the mall, which opened in 1958 as the Pointe-Claire Shopping Centre on St-Jean Boulevard, near Highway 20. Plaza Pointe-Claire has been for sale since 2020.
Artis Real Estate Investment Trust has increased its position, together with partnerships managed by Sandpiper Group, in Dream Office REIT (D-UN-T) to 14.32 per cent. The Series A units were acquired for investment purposes.
The construction of office space is declining in Canada amidst runaway inflation increasing construction costs. Colliers Canada says although under-construction offices is still robust at more than 15.7 million square feet, that number is down from its earlier peak.
Canada’s commercial real estate sector is poised to bridge from pandemic reality to our next normal. To make the most of this next phase, organizations will need to tie strategic direction into the needs of Canadians more closely than ever.
PROPetual REIT is a private real estate investment trust that provides accredited and retail investors alike with the opportunity to create wealth through land development investment opportunities within Metro Vancouver, British Columbia.
Colliers, one of the world’s leading institutional investment and property management firms, is actively engaged in transforming its properties into lean, green, low-emission machines for living and working.
One of the largest developments in Penticton’s recent history has cleared its first major hurdle. Wiltse Holdings’ North Wiltse Block, which proposes 686 residential units – 183 single-family homes, 28 duplexes and 475 apartments – to be built over coming years, received council approval for rezoning.
In a statement the City of Surrey said: “The city’s Campbell Height Local Area Plan identified these lands as potential opportunities for (a) business park in an effort to address the increasing demand and limited supply of employment lands . . .”
Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate
Between June 7-16, Sime Armoyan, with an ownership position exceeding 10 per cent, invested over $5.3 million in units of Slate Office REIT (SOT-UN-T). She acquired 1,130,700 units at an average cost per unit of approximately $4.73, increasing her holdings to 9,454,900 units.
A $608-billion Amazon (2021 sales) that seemed destined to dominate global retailing is now in urgent need of a turnaround. Amazon massively overexpanded during the pandemic only to find post-pandemic consumer demand now falls far short of its vastly bigger capacity.
Clifford Chance has signed a lease for 144,000 square feet at Brookfield Properties’ Two Manhattan West in New York City. The international law firm will occupy Floors 39 through 42 at the 58-storey, 1.9 million-square-foot office skyscraper that topped out in January.
Of the 29.1 million square feet of U.S. lab space expected to be under construction in the next two years, 26.2 million square feet is being built speculatively, according to CBRE. Just 26 per cent of that space is pre-leased.
Rexford Industrial Realty, Inc. (REXR-N), a REIT focused on creating value by investing in and operating industrial properties located throughout infill Southern California, announced the acquisition of six industrial properties for an aggregate purchase price of $218.4 million.
A new report from the Canada Mortgage and Housing Corp. says Canada’s housing stock would need to climb to 22 million-plus units by 2030 to achieve affordability for everyone. The CMHC notes two-thirds of the supply gap is in Ontario and B.C.
Normal-sized condominium buildings come with a host of well-known upkeep and maintenance challenges as they age, but a relatively new form of supertall towers pose entirely new categories of risk precisely because so little is actually known about them.
B.C .may intervene to cap rent increases, as record-high inflation threatens to “shock” renters with the largest hikes seen in at least two decades.
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