$210B worth of insight: Major investors talk strategy

RENX  Commercial  •  Investment  •  National, International

The firms they represent own and/or manage about $210 billion in assets. So, when top executives from BentallGreenOak, Blackstone, Crestpoint and Crombie REIT sat down to talk CRE investment strategy, there was plenty of experience and expertise at the table.

Slate Retail to buy 7 U.S. grocery-anchored properties

RENX  Commercial  •  Retail  •  International

Slate Retail REIT (SRT-U-T) has a binding agreement to acquire a portfolio of seven properties in the Southeastern and Mid-Atlantic United States for US$106.5 million. The purchase will be the largest acquisition in the REIT’s history.

Housing can weather coronavirus storm: Royal LePage

Residential  •  Financial Post  •  Globe and Mail  •  Financial Post

VIDEO: Royal LePage CEO Phil Soper talks about the Canadian real estate market in the wake of the coronavirus outbreak and a massive Bank of Canada rate cut, and what it means for the various regions of the country.

Edmonton, Vancouver RE forums postponed

RENX  Commercial  •  Human Resources  •  National, Metro Vancouver

UPDATED: Informa Canada has now postponed three major real estate conferences, in Vancouver and Edmonton, due to precautions surrounding COVID-19. The firm announced Wednesday the Edmonton Real Estate Forum will be combined with the Calgary RE Forum on Oct. 21.

Oil woes put Boardwalk REIT into oversold territory

Commercial  •  Globe and Mail (Sub. required)  •  RENX

Boardwalk REIT’s (BEI-UN-T) unit price has fallen 20 per cent over the past two sessions, following the decline in the price of oil. With Boardwalk’s large position in Alberta, its unit price will likely remain under pressure in the near term.

Iconic Edmonton hotel set to reopen this summer

Commercial  •  CBC

With the scaffolding gone, the new midnight-blue facade can be seen on the Old Strathcona Hotel, as Beljan Development prepares to reopen the historic Edmonton building. The old pub space is set to reopen as Leopold’s Tavern this summer.

Canadian Tire appoints Greg Hicks CEO

Commercial  •  Canada Newswire  •  Financial Post

Canadian Tire Corporation, Limited (CTC-T) today announced the appointment of Greg Hicks as president and CEO and to the Board of Directors of the company, effective immediately. Hicks most recently served as president, Canadian Tire Retail (CTR).

Ottawa OKs $40M loan to get film complex rolling

Commercial  •  CBC  •  Ottawa Business Journal

The City of Ottawa is ready to loan the Ottawa Film Office up to $40 million to get started on a sound stage complex in the Greenbelt after the film office’s private-sector partner said its money is tied up elsewhere.

Van. auditors cry foul over stadium repairs

Commercial  •  Vancouver Sun

An audit of the Nat Bailey Stadium lease obtained through a freedom of information request shows Vancouver auditors complaining over what they called “non-compliance issues” and “deficiencies” in areas including ballpark maintenance and a lack of oversight.

Kelowna struggles with creating new parks

Residential, Commercial  •  Kelowna Capital News

As Kelowna continues to grow and densify, new challenges are arising to establish more parks and greenspace as part of its 2040 Official Community Plan. The city expects a massive increase in urban development over the next two decades.

REIT fourth-quarter financial results

Commercial  • 

BTB REIT, (BTB-UN-T), Canada Newswire

WPT Industrial REIT, (WIR-U-T), Globe Newswire

REOC fourth-quarter financial results

Commercial  • 

Invesque Inc., (IVQ-U-T), Canada Newswire

Melcor Developments Ltd., (MRD-T), Globe Newswire

Modell’s Sporting Goods shuttering all stores

Commercial  •  CNN

Modell’s Sporting Goods filed for bankruptcy Wednesday and will close all of its 153 stores in the U.S. Northeast. Modell’s, a family-owned chain founded in 1889, was known best for selling local teams’ jerseys and equipment for youth leagues.

U.S. and Canadian construction prices

Residential, Commercial  •  Daily Commercial News

CHARTS: Due to its complexity, much of the subject matter concerning the economy requires detailed editorial commentary, often supported by relevant tables and graphs. To provide additional value, ConstructConnect is now offering an ongoing series of 1,000-word charts.

American Dream to open amid virus fears

Commercial  •  National Real Estate Investor

Edmonton-headquartered Triple Five Group‘s American Dream mega-mall can’t catch a break. After two decades of false starts and setbacks, the grand opening of the New Jersey mall’s hundreds of retail stores, restaurants and DreamWorks water park is set for March 19.

Cineworld plummets due to coronavirus fears

Commercial  •  Toronto Star

Cineworld Group Plc, the world’s second-largest cinema company, lost almost half its market value at one point on Thursday after it said its worst-case scenario for the coronavirus outbreak could put it at risk of breaching lending covenants.

Let flood victims rebuild in flood zones: Queen’s Park

Residential  •  Ottawa Citizen  •  CBC  •  Global News

Yes you can go home again, even after a flood. Ontario’s Flooding Strategy, announced Monday, will encourage people to repair or replace homes destroyed by floods of the scale that Ottawa and Gatineau saw in 2017 and 2019.

Reverse mortgage debt tops $4B for first time

Residential  •  Business In Vancouver

Reverse mortgage debt in Canada has topped $4 billion for the first time, according to Office of the Superintendent of Financial Institutions (OSFI) filings. That is a 13 per cent year-over-year increase.

Interest rate cuts heat up mortgage market

Residential  •  Globe and Mail (Sub. required)

Since the Bank of Canada slashed the benchmark interest rate to 1.25 per cent from 1.75 per cent last week, mortgage brokers have been inundated with requests for new loans, refinancings, preapprovals, renewals and demands to break current mortgages.

Mississauga prices jump nearly $105K in a month

Residential  •  Toronto Storeys

Mississauga’s market continued to heat up in February, with the average home price spiking nearly $105,000. The Toronto Regional Real Estate Board’s market statistics revealed the average price of a home in Canada’s sixth-largest city hit $887,218 — up 13.4% in a month.