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H&R selling Ottawa ONE60 Elgin St. office tower for $277M
H&R selling Ottawa ONE60 Elgin St. office tower for $277M
H&R REIT (HR-UN-T) announced Tuesday it has an agreement to sell one of its premiere remaining office properties, the million-square-foot downtown ONE60 Elgin complex in Ottawa, for $277 million.
Graywood launches 10th fund, seeks $200M for GTA multires
Graywood Developments has launched a $200-million investment fund, its 10th, to build high-rises in Toronto, and while others may be cowed by the current economic climate, the firm’s president and CEO sees opportunity.
Vancouver, Concord Pacific splitting six undeveloped lots
The City of Vancouver and Concord Pacific have agreed to split six lots on the old Expo 86 site. Concord Pacific will develop its three lots into market housing and has agreed to give the city $110 million cash.
OPG purchases former General Motors building
Ontario Power Generation says it has signed a deal to buy the 285,000-square-foot former head office building of General Motors of Canada in Oshawa, Ont., and plans to use it for its own corporate headquarters.
U of T selects Westbank for mixed-use project
The University of Toronto has chosen Westbank to design and build its innovative Site 1: The Gateway project, which will create housing for faculty, staff and student families, academic space focused on life-long learning and ancillary retail opportunities.
Townline proposes rental towers, grocery store in Saanich
Vancouver developer Townline has proposed three residential towers of 21 to 24 storeys — containing 555 rental units — along with a Great Canadian Superstore and other commercial outlets in Saanich, B.C.
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McMaster residences aim to ease student-housing crunch
Two new McMaster University student residences are going to “turn downtown Hamilton on its ear,” says Donald Schmitt, principal of Diamond Schmitt Architects in Toronto. The $100-million, 30-storey building is set to open this fall.
Mitrex claims first with fire-rated building solar panels
Mitrex, an Etobicoke-based solar module manufacturer, says it has broken new ground in the solar panel market with its fire-rated building integrated photovoltaics (BIPV) that can enable safer solar energy generation on high-rise buildings.
Swimming against Brookfield’s tide of positivity
OPINION: It’s not that I doubt Brookfield’s Brookfield Asset Management Ltd., (BAM-T) investing acumen. However, Brookfield’s complexity and Rubik’s Cube of interlocking corporate entities have always left me cold.
Three hot REIT picks from Canaccord Genuity analyst
VIDEO: Mark Rothschild, an analyst at Canaccord Genuity, said last year was broadly difficult for real estate investment trusts, but he still recommends Dream Industrial REIT (DIR-UN-T), Killam Apartment REIT (KMP-UN-T) and BSR REIT (HOM-U-T).
Restaurant Brands International replacing CEO
Toronto-based Restaurant Brands International Inc. (QSR-T) is replacing its CEO, the second major leadership change in a matter of months as the fast-food chain seeks to boost its performance and as it faces a looming battle with some disgruntled franchisees.
Uber closing all data centres
Uber is ditching its own data centres in favour of the cloud. Around 95% of the San Francisco-based ride-hailing giant’s IT infrastructure is housed in data centres it owns or leases from colocation providers, according to The Wall Street Journal.
Link REIT sinks on surprise US$2.4 billion cash call
Link REIT, Asia’s largest, spooked Hong Kong property stocks on Monday after it unexpectedly asked for US$2.4 billion from unit holders to help pare debt. Investors dumped the stock for its worst sell-off since October 2008.
Turkey probes contractors as earthquake deaths pass 33,000
Turkish authorities are targeting contractors allegedly linked with buildings that collapsed in the powerful Feb. 6 earthquakes. Turkey’s construction codes meet current earthquake-engineering standards, but they are rarely enforced, explaining why thousands of buildings toppled or pancaked down.
Canada needs to boost home building by 50%: Desjardins
Canada is on track to break ground on about 210,000 housing units this year. Desjardins Securities says about 100,000 additional housing starts are needed this year and next as Canada gets ready to admit a record number of immigrants.
Alberta needs an extra 20,000 homes to maintain affordability
Alberta needs 20,000 more housing units above and beyond current rates of construction by 2030 to maintain affordability, according to the Canada Mortgage and Housing Corporation.
Big banks face lower mortgage growth in 2023
Canada’s biggest banks are facing a year of slumping mortgage growth as high interest rates knock borrowers off the list of those that qualify for the loans at traditional lenders.
62.5% of Windsor-area condos owned by investors
Condominiums are the preferred choice of real estate investors in the Windsor area, with 62.5 per cent of those residences owned for revenue-generating purposes by individuals who do not live in them.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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May 08 2024
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Land & Development Conference
May 28 2024
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Montreal Real Estate Forum
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Southwestern Ont. Real Estate Forum
Jun 13 2024
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