Edmonton House, a venerable landmark apartment building perched on the lip of the North Saskatchewan River valley, is up for sale. The distinctive round, 46-storey concrete tower was built in 1971 and converted in 2015 from a suite-hotel to apartments.
Cineplex Inc. (CGX-T) has received approval from investors to be sold to Britain-based cinema conglomerate Cineworld Group. The $2.2-billion deal was followed by a seven-week “go-shop” period that allowed Cineplex to evaluate other offers. No other potential buyers came forward.
Vancouver-based Denciti Development Corp. has sold out two industrial strata buildings before the slabs were even poured on its West Kelowna projects. A third phase that hasn’t even started yet is heading in the same direction.
Goodman Group and the Canada Pension Plan Investment Board say they will invest an additional US$2.5 billion in their eight-year-old Goodman North American Partnership (GNAP), increasing their total equity commitment to US$5.5 billion.
Montreal Mayor Valérie Plante’s plan to give property owners up to $500,000 to make their apartment buildings more liveable is coming under tough scrutiny, criticized by tenants’ rights advocates as a gift to landlords that will allow them to raise rents.
Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate
The Chinese restaurant and food services sector is facing a dramatic downturn in business as fears of the coronavirus outbreak have spread to the Lower Mainland community, heavily suppressing the number of diners looking to dine out at these establishments.
Property owners are in various stages of developing several new hotels, even as Vancouver bylaws stymie some entrepreneurs. On Jan. 30, Vancouver approved Arno Matis Architecture’s application to build a 438-room hotel on a Dingye Property Group-owned site.
A new crop of well-funded startups have been finding novel ways to get at the heart of things. From an AI-enabled title company to a landlord helping its tenants become owners, these companies are using software to rethink property experiences.
Tim Hortons (QSR-T) has a serious Canada problem. Simply put, too many Canadians no longer think of Timmies as the folksy Canadian coffee and donut shop it once was. And they’re abandoning the chain in droves.
SmartCentres REIT (SRU-UN-T) announced it has executed agreements for three additional self-storage locations in its joint venture arrangement with SmartStop Self Storage REIT, Inc. and its affiliates. The three new locations are in Aurora, Markham and North Whitby.
REIT fourth-quarter financial results
Oxford Properties Group – the real estate arm of Canadian pension fund giant OMERS – has ambitions to grow its Australian holdings to at least $4.5 billion Cdn, adding significant investment into logistics assets and build-to-rent housing to its existing office portfolio.
WeWork on Tuesday brought forward its target of becoming free-cash-flow positive by a year to 2022 as chairman Marcelo Claure pushes ahead with his five-year turnaround plan aimed at boosting valuation and winning back investor trust.
New York’s life-sciences sector got a major boost last month. A roughly 418,000-square-foot building from NYC Health + Hospitals in Manhattan’s Alexandria Center for Life Science was the largest project filed in January — by a wide margin.
Home rentals giant Airbnb Inc. swung to a net loss of $322 million for the first nine months of 2019 as costs climbed sharply, The Wall Street Journal reported on Tuesday, citing people close to the company.
A slow-moving economic crisis is the biggest financial risk to Canada Mortgage and Housing Corp.’s mortgage insurance business. The August 2019 report by an actuary from KPMG said CMHC’s expected future financial condition was deemed “satisfactory,” as of the end of 2018.
Despite the commonly held notion that housing in Canada is unaffordable, a majority of Canada’s largest cities (75 per cent) are currently undervalued, according to the 2020 RE/MAX Housing Affordability Report.
The case of a Toronto renter who battled eviction attempts by a landlord who owned just one per cent of the house she rented out of may not be common, but data shows personal-use eviction applications are on the rise.