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$2.3B LaSalle Canada Property Fund plots its next five years
$2.3B LaSalle Canada Property Fund plots its next five years
LaSalle Investment Management’s LaSalle Canada Property Fund (LCPF) launched in December 2017 with an initial seed portfolio of $440 million and has quintupled in size over the past five years.
Colonnade BridgePort buys dev. land, Ottawa office building
Ottawa-based Colonnade BridgePort and an institutional investment partner have acquired a 93,381-square-foot mid-rise office building with four acres of development land in the city’s east end.
Mississauga approves housing plan to meet Ont. target
Mississauga is pledging to build 120,000 new homes over the next decade, but Mayor Bonnie Crombie warned it will only succeed if Ontario and the federal government help fund infrastructure needs, including roughly $1.3-billion in transit projects.
 | The Apartments Broker Selling your apartment building in 2023: Valuations and increasing your net incomeRamona VadiPartner & Broker, Baron Realty |
Remote work hurting productivity and innovation: RBC
The stunted pace of workers returning to the office is taking a notch out of productivity and innovation, Royal Bank of Canada (RY-T) chief executive officer Dave McKay says.
AstraZeneca to expand research facility in Mississauga
A new investment by pharmaceutical company AstraZeneca will bring 500 jobs to Mississauga. The company, known as the developer of one of Canada’s approved COVID-19 vaccines, announced a major expansion of its research and development hub.
 | Trez Capital Patience + experience: The key to success in commercial real estate investments in 2023As we settle into the new year, players in the commercial real estate space are reflecting on 2022 and beginning to execute strategies for 2023. Although real estate has been heavily impacted by economic variables, great opportunities continue to exist. Sponsored by: Trez Capital |
Leading indicator spots slowing of B.C. CRE market
B.C.’s “highly abnormal” commercial real estate market is slowing, according to the BC Real Estate Association’s commercial leading indicator (CLI), a quarterly snapshot of performance. In Q4 2022, the CLI dropped to 148 from 149.
Foreign homebuyer ban blocking developments: Tal
The federal government’s foreign homebuyer ban is causing more harm than good due to the words “residential property” legally capturing far more property types than lawmakers likely intended, CIBC Capital Markets' deputy chief economist Benjamin Tal said in a note.
Haven proposes 24-, 34-storey residential towers
Haven Developments has proposed 24- and 34-storey towers above a shared podium of eight storeys at 955 Weston Rd. in Toronto's Mount Dennis neighbourhood. The Turner Fleischer Architects-designed towers would contain 1,003 condo units.
Phased projects hold appeal as construction risks linger
Phased projects have frequently been a way to bring large-scale developments to completion, breaking them down into elements that appear in turn, almost organically, at a pace that allows the developer to avoid becoming financially overstretched.
George Weston Q4 profit up 6.3% Y-O-Y
George Weston Limited (WN-T) reported $14.1 billion in revenue for Q4 2022, up 9.6 per cent year-over-year. The parent company to Loblaw Companies Limited and Choice Properties REIT released its results for the quarter and fiscal 2022 Wednesday,
Stantec to lead Highland's net-zero logistics hub
Edmonton-based Stantec has been chosen as principal consultant for developer Highland Fairview's $25-billion World Logistics Center project in Moreno Valley, Calif., projected to be the largest planned logistics and business park in North America.
Two office landlords defaulting may be just the beginning
For years, property owners have been grappling with remote work but low interest rates allowed the investors to muddle along. Now, many office landlords are seeing borrowing costs skyrocket, leading Pimco’s Columbia Property Trust and Brookfield to default on mortgages.
Blackstone blocks investor withdrawals from $71B REIT
Blackstone Inc (BX-N) said on Wednesday it had blocked investors from cashing out their investments at its $71 billion real estate income trust (BREIT) as the private equity firm continues to grapple with a flurry of redemption requests.
Institutions raising strategic allocations to REITs
Institutions are refining their REIT allocation strategies amid a compelling divergence in values between private and publicly listed real estate that many believe places REITs in a strong position to outperform in a more challenging market ahead, according to CBRE.
Unreserved putting a hold on house auction sales
Rising interest rates, stingy banks, a buyers’ market and an imminent overhaul of Ontario’s house sale regulations have Ottawa’s Unreserved putting a hold on its house auction sales.
February Vancouver home sales up 77% from January
The Real Estate Board of Greater Vancouver says February’s home sales were up 76.9 per cent from January, but down 47.2 per cent year-over-year. Sales for the month totalled 1,808, roughly 33 per cent below the 10-year February average.
Calgary housing inventory sinks to 2006 levels
The Calgary Real Estate Board says last month’s inventory levels were among the lowest the market has seen in February since 2006 as sales were almost halved from a year ago, representing a 47 per cent year-over-year fall.
Alberta to tackle land titles registry backlogs
The Alberta government plans to automate and digitize the provincial land titles registry in an effort to reduce transaction backlog. The 2023-24 provincial budget allocates $100 million over three years to modernize the land titles and motor vehicles registries.
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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