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Fengate, Freed close purchase of T.O. Don Valley Hotel
Fengate, Freed close purchase of T.O. Don Valley Hotel
Fengate Asset Management and Freed Developments Ltd. have closed on their acquisition of Toronto’s 5.42-acre Don Valley Hotel and Suites property. Allied Hotel Properties announced in October the deal to sell the transit-oriented and mixed-use site for $102 million.
Avenue Living grew from niche to primary markets
• Calgary Herald • RENX
Anthony Giuffre, founder and CEO of Avenue Living Asset Management, purchased its first 24 rental residential units in Brooks, Alta., in 2006 for $3 million. Today the Calgary-based company specializing in economical housing for the workforce housing population has $1.5 billion assets under management.
Seymour Pacific looks to create ‘resort community’
Seymour Pacific Developments has applied to the City of Campbell River to rezone two properties to enable the development of an 80-room hotel, a 96-room hotel, a 400-seat conference centre, a spa, numerous restaurants, pubs and a retail component.
Spanish proptech firm AREX moves HQ to Toronto
AREX, a Spanish real estate software company that was one of 10 companies chosen to participate in last year’s Colliers Proptech Accelerator program, is moving its headquarters to Toronto.
BTB sells Ontario industrial property for $13.3M
• Canada Newswire • RENX
BTB Real Estate Investment Trust (BTB-UN-T) announced the sale of a 200,000 square foot industrial property in Ingersoll, Ont., for total proceeds of $13.3 million. BTB purchased the property in November 2012.
Summit to acquire Oakville industrial property for $13.3M
• Canada Newswire • RENX
Summit Industrial Income REIT (SMU-UN-T) announced today it had waived conditions and will acquire 100 per cent of a class-A light industrial property totaling 51,490 square feet, including 11,654 square feet of finished office space, in Oakville for $13.3 million, well below replacement cost.
U.S. oilsands supplier opens new Alberta warehouse
DeZURIK Inc, a U.S.-based industrial manufacturer that supports oilsands projects, has opened the doors to a new 15,000-square-foot warehouse and storefront in Leduc, just south of Edmonton. The company is aiming for growth in Alberta.
Summit Food Service closing London, Ottawa plants
London’s food sector took a hit Friday with news Summit Food Service is closing distribution plants in London and in Ottawa. The shipping operation will move to Mississauga after its Quebec-based parent ended a contract to supply Recipe Unlimited (RECP-T).
HDR proposes three towers for Kelowna
• Kelowna Now • Castanet
The City of Kelowna has received proposed plans for three lofty high-rises. Penticton-based HDR Architecture Associates’ plans call for an 18-storey hotel and two residential towers, with the first being 24 storeys and the other standing 36 storeys.
Grouse Mountain to ‘evolve’ under Northland
A significant transformation could lie ahead for Grouse Mountain with Northland Properties poised to close a deal to buy the ski hill. Northland built a Sutton Place hotel at Revelstoke Mountain Resort, which is the other mountain resort it owns.
Gov’t, tech sectors driving Ottawa’s housing market
Ottawa’s government and high-tech sectors — which together account for nearly 30 per cent of the total workforce – are growing at the same time. The result: a jobs boom which, in turn, has been a catalyst for the region’s housing market.
15% of Montreal street-level retail spaces empty
Sitting in her diminutive St-Denis St. delicatessen stocked with Eastern European treats, Café Mimi owner Lily Mlabenovich delivered a sombre diagnosis of the health of her boulevard. “I think this street is dead,” she said.
Polycor hoping for a strong return to the stone age
The Empire State Building, the Louvre, Place du Trocadéro, the Pentagon and Montreal’s Sun Life building have stone facades largely courtesy of quarries belonging to Quebec City’s Polycor. Stone certainly has a past, but does it have a future?
Avison Young expands Phoenix footprint
Avison Young has signed a six-year lease for a 12,000-square-foot office space in Phoenix. The new location is on the ground-floor of the Camelback Lakes office complex, adjacent to the firm’s current 8,000-square-foot office.
Brookfield, Temasek team up on Thyssenkrupp elevator bid
Canada’s Brookfield Asset Management (BAM-A-T) has teamed up with Singapore state investor Temasek Holdings [TEM.UL] in the auction for Thyssenkrupp’s prized $16.6 billion US elevator division, two sources said.
Capital raising for real estate funds outstrips 2008 levels
Capital raising for global real estate funds hit a new high in 2019, outstripping volumes seen in 2008. The $151 billion US raised during the 12-month period was above the previous peak of $148 billion, recorded the year the global financial crisis began.
Condo prices won’t meet carrying costs: Experts
Experts are warning the investment scene will shift in less than five years as the cost of condos continues to climb at the same time Toronto tenants show signs of hitting a wall in paying for an apartment.
Returning expats to drive up prices of upscale housing
Prices of upscale homes could see another bump as returning Canadians from global hotspots and troubled nations seek safe harbour in Canada, fuelling demand for more housing amid a constrained supply situation.
Interest rate/mortgage delinquencies link studied
Does an increase in interest rates lead to more mortgage defaults in Canada? The prevalent belief among policymakers — and basic economic theory — would seem to suggest that it should. However, a recent study is raising some questions about that relationship.
Canadians concerned about mortgage qualification
For many Canadians, buying a home can be challenging. According to a recent survey from Zillow and Ipsos, 92% of Canadians see at least one barrier to home ownership and two of the top concerns are related to the mortgage process.
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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May 28 2024
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Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
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