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Slate Office adds trustees, settles dispute, reports financials
Slate Office adds trustees, settles dispute, reports financials
It has been a busy couple of weeks at Slate Office REIT (SOT-UN-T) with the announcements of two new trustees to reach a settlement with a group of unhappy shareholders and the release of its Q4 and 2022 financial results.
CAPREIT acquires Ottawa apartment for $61M
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (CAR-UN-T) has expanded its portfolio in the nation's capital with the $61-million acquisition of Eagle Pointe apartments in suburban Ottawa.
CRE investment could reach record high $59B in 2023: CBRE
The outlook for commercial real estate looks “bumpy” in the near term, but CBRE’s Canada Real Estate Market Outlook report predicts investment could reach an all-time high of $59.3 billion this year, spurred by greater merger and acquisitions activity.
Bed, Bath & Beyond space set to hit the market this week
The landlords of 65 stores operated by Bed Bath & Beyond Canada Ltd. (BBBY-Q) received formal notification last week of lease terminations, and now the hunt is on for tenants to fill up nearly two million square feet of space nationwide.
Vancouver tops in office completions, has lowest vacancy
Vancouver is leading Canada in new office development with nine of the 12 latest completions in Canada seen in the city and 4.8 million square feet under construction across the region, nearly 45 per cent of which is already pre-leased.
Downtown Ottawa office vacancy could approach 14%
Ottawa’s downtown office vacancy rate will soar to 13.7 per cent this year, well above the rate of 12.2 per cent at the end of December, says CBRE. Ottawa’s overall office vacancy rate could will rise to 11.9 per cent.
 | CRE Matters An outlook on specialized sectors that will define CRE in 2023Daniel HolmesPresident, Brokerage Services | Canada, Colliers |
Sudbury's eight-storey Scotia Tower for sale at $6.75M
A glass structure cutting eight storeys into downtown Sudbury’s skyline is for sale. The Scotia Tower, listed at $6.75 million, was for sale last year at $9.9 million, before being taken over from insolvent 30 Cedar Holdings Inc.
Ottawa should look to Calgary on office conversions
OPINION: A resolution recently passed by Ottawa city council encouraging the conversion of empty office buildings to residential should look to Calgary, which plans to convert half of its 12 million square feet of empty office space within 10 years.
Downtown Winnipeg's Windsor Hotel for sale
The Windsor Hotel in Winnipeg has been listed for sale by Colliers International. A tenant and patrons of the downtown hotel and bar said it had been sold and that the long-term tenants had been given eviction notices.
TransAlta explores Alta. pumped hydro development
TransAlta Corp. is considering a pumped hydro energy storage facility in Alberta's Rocky Mountains that could help alleviate intermittent wind and solar energy as the province moves to more renewable energy sources.
World’s rich take advantage as $1T CRE market craters
Zara founder Amancio Ortega, Spain's richest person, expanded his global portfolio of commercial real estate last year, acquiring at least 10 properties across North America and the U.K. for more than $2 billion.
CRE pricing fell fastest in 13 years in January
The Real Capital Analytics CPPI National All-Property Index dropped 4.8% year-over-year in January and 2.7% from December, according to MSCI. If the pace were to continue all year, it would result in a 27.9% annual decline, the biggest since 2010.
Twitter to scale back NYC office space
Twitter is seeking to sublease New York office space as the technology company looks to curb costs. Twitter recently listed nearly 200,000 square feet of space for sublease at 245 and 249 W. 17th St. in Manhattan, according to Savills.
Li-Cycle gets $375M gov't loan for N.Y. battery recycling hub
Mississauga-based Li-Cycle Holdings Corp. (LICY-N) has received a $375-million loan from the U.S. Department of Energy to finance its Rochester, N.Y. hub, said to be the first commercial hydrometallurgical resource recovery facility in North America.
Number of private mortgages growing, FSRA warns
A dramatic increase in the number of homeowners relying on private mortgages to finance their homes is causing concern in Ontario’s mortgage industry, and the Financial Services Regulatory Authority of Ontario expects reliance on such high-interest loans to increase.
Buyers and sellers adjusting to new normal: TD
Sinking real estate sales in many Canadian cities may find a bottom in the first half of this year, predicts Rishi Sondhi, economist at Toronto-Dominion Bank.
More Canadians optimistic housing prices will rebound
Consumer confidence rose to the highest level since September as more Canadians see real estate rebounding after the central bank conditionally halted its interest-rate hikes. The Bloomberg Nanos Canadian Confidence Index jumped by the most since the end of November.
Ontario moves to ban use of non-disclosure agreements
Confidentiality clauses, or non-disclosure agreements, are increasingly found in all manner of legal agreements Canadians enter into, but as of April 1, 2023, Ontario real estate professionals will be restricted from using them when settling a dispute with a client.
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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