Nicola Wealth Real Estate ‘aggressively’ buying in Canada, U.S.

RENX  Commercial  •  Investment  •  National

Nicola Wealth Real Estate has, rather quietly, acquired five Canadian and U.S. properties this year adding about a half-billion dollars in assets to its portfolio. “Nicola Wealth Real Estate is aggressively pursuing acquisition opportunities,” Nicola’s Alex Messina told RENX.

Sidewalk Labs, Teachers’ to launch infra company

Commercial  •  CBC  •  Globe and Mail  •  RENX

Google parent company Alphabet Inc. and affiliate Sidewalk Labs are partnering with the Ontario Teachers’ Pension Plan to launch a new company that invests in North American infrastructure. Sidewalk Infrastructure Partners, plans to hold, operate and invest in advanced infrastructure.

Montreal’s ‘remarkable’ opportunity in Centre-Sud

Residential, Commercial  •  CityLab

For 236 years, the name Molson has watched over Montreal’s Centre-Sud neighbourhood, from the area’s earliest days as an agricultural plain to its evolution into a workers’ village, a manufacturing hub, a postwar ghetto, and eventually, a lively gay village.

Secondary suite short-term rentals bad: Expert

Residential  •  Toronto Star  •  Toronto Star

Allowing property owners to use secondary suites as short-term rentals would encourage more landlords to convert to Airbnb-style rentals and exacerbate an already tight rental market and high rents, Toronto’s seven-day Local Planning Appeal Tribunal (LPAT) was told Thursday.

The bleak future of department stores: Inception

Commercial  •  Globe and Mail

The odds are against the future of department stores. They are overstored, slow to change and underwhelming in service. Selling to price- and product-knowledge-conscious consumers is a challenge, with no visible pullback by those who choose to shop online.

Retail firms get around global trade chaos

Commercial  •  Financial Post

Finning International Inc. (FTT-T ) chief executive officer Scott Thomson has this advice for other executives looking at the ongoing chaos surrounding global trade: “Your views need to change every six months.”

L.L. Bean tiptoes into Canada with only one store

Commercial  •  Financial Post

L.L. Bean can’t fit its entire catalogue into its 13,000-square-foot store in Oakville, so it has curated its collection using years’ worth of data. CEO Stephen Smith said until it gets it right, it will not open another Canadian store.

Forever 21 prepares for possible bankruptcy filing

Commercial  •  Financial Post

Forever 21 is preparing for a potential bankruptcy filing as the fashion retailer’s cash dwindles and turnaround options fade, sources say. The company has been in talks for additional financing and working with a team of advisers to help it restructure.

Skytrain expansion project moves closer

Commercial  •  Globe and Mail (Sub. required)

The ambitious plans to expand the Vancouver region’s subway system to the University of British Columbia and Langley will get a significant boost from money committed by UBC and from development fees, says TransLink‘s Kevin Desmond.

Genesis acquires Calgary residential land for $23.7M

Residential  •  Canada Newswire  •  RENX

Genesis Land Development Corp. reported it has entered into a firm purchase and sale agreement for the acquisition of approximately 130 developable acres of future residential development land in north Calgary for $23.7 million.

Northview Apartment a top REIT to hold

Residential, Commercial  •  Motley Fool  •  Motley Fool

One of the best residential real estate investments is Northview Apartment REIT (NVU-UN–T). Northview is one of the largest real estate investment trusts in Canada. Its portfolio consists of over 27,000 residential units and 1.2 million square feet of commercial space.

REOC second-quarter financial results

Commercial  • 

Firm Capital American Realty Partners Corp., (FCA-U-X), Globe Newswire

Lakeview Hotel Investment Corp., (LHR-X), Canada Newswire

AHIP completes renovations at Chattanooga hotel

Commercial  •  Canada Newswire  •  RENX

American Hotel Income Properties REIT (HOT-UN-T) announced it has recently completed approximately US$1.5 million of renovations at the Residence Inn by Marriott Chattanooga near Hamilton Place (Tennessee). Four other U.S. hotels in AHIP’s portfolio are currently under renovation.

Opportunity zones a game-changer for investors

Residential  •  D Magazine

Opportunity Zones have much to offer to investors as well as underprivileged communities. This unique market-based approach to spur low-income development has already had substantial positive impacts on development levels and property values in many cities across the U.S.

Tokyo tower to become Japan’s new tallest skyscraper

Residential, Commercial  •  CNN

Construction has begun on a soaring tower that will become Japan’s tallest skyscraper. The ambitious Toranomon-Azabudai project, in central Tokyo, aims to be “a city-within-a-city,” according to the scheme’s developers. The tallest of three towers will reach 1,083 feet.

U.S. home buyers gear up for potential 2020 recession

Residential  •  PR Newswire

An increasing number of home buyers expect a U.S. recession in the next three years, according to new data from realtor.com. More than half of current home shoppers expect to put their home search on hold until the economy recovers.

B.C. housing sales rise close to 14% in July

Residential  •  Business In Vancouver

B.C.’s housing sales cycle has gained traction, according to the latest Canadian Real Estate Association data. Muliple Listing Service sales rose in all regions in July with provincial sales up nearly 14% from June to a seasonally adjusted 6,650 units.

Home Buying in 2019 Is Hard Work: MPC

Residential  •  Canada Newswire

Home Buying in 2019 Is Hard Work is a new report issued by Mortgage Professionals Canada (MPC). This report investigates the thinking and weighted considerations of first-time home buyers in Canada in light of recent economic conditions, and decisions by policymakers.

Park Property proposes infill rentals

Residential  •  Urban Toronto

Half a kilometre west of Eglinton and Kipling in the borough of Etobicoke, Park Property Management has submitted a rezoning application proposing a pair of infill rental buildings to accompany two tower-in-the-park rental towers that currently make up 63 Widdicombe Hill.