Greybrook, Marlin Spring buy 11 Quebec rentals

RENX  Residential  •  Apartments  •  Greater Montreal, Quebec City  •  December 21, 2018

Greybrook Realty Partners and Marlin Spring Investments are ending 2018 with a spree of purchases, adding 667 apartment units in Montreal and Quebec City to the partners’ recently announced acquisition of 566 rental units in Texas.

Anbang to sell Vancouver towers in new year

Commercial  •  Globe and Mail (Subscription required)  •  Daily Hive

Anbang Insurance Group has tapped commercial realtor CBRE to sell its Vancouver office towers and plans to put the properties up for sale next year. The hiring of CBRE brings the state-controlled Anbang closer to divesting its Canadian properties.

Devcore wants shot at Ottawa mega-project

Commercial  •  Ottawa Citizen  •  CBC

More than two-and-a-half years after it lost out to the National Capital Commission’s preferred bid in the competition to redevelop LeBreton Flats, the Devcore Canderel DLS Group sees a second chance at implementing its vision for the downtown area.

U.S. investors JV buys Ontario seniors residences

RENX  Residential  •  Seniors Housing  •  Ontario  •  December 21, 2018

Two U.S.-based investors have partnered to buy nine Ontario seniors housing communities in small or mid-sized markets and create Oxford Living LLC. Chicago’s Oxford Capital LLC and New York insurance/investment firm Starr Insurance Companies are the owners.

The Saskatchewan Edge › The 12 Days of a CRE Christmas

Kelly Macsymic: Business Manager, B. Stuart P.C. Inc. , Sales Associate, ICR Commercial Real Estate

Vantage Data Centers expands into Canada

Commercial  •  CP Executive

Vantage Data Centers is expanding into Canada by acquiring 4Degrees Colocation from Videotron Ltd., a Quebecor Media Inc. subsidiary, for approximately $259 million. The planned deal will add existing data centers in Montreal and Quebec City.

True North sells two Ontario industrial properties

Commercial  •  Canada Newswire  •  RENX

True North Commercial Real Estate Investment Trust (TNT-UN-T) announced it has completed the sale of two industrial properties located at 63 Innovation Drive in Hamilton and 1035 Industrial Road in Waterloo for the sale price of $15.375 million.

BSR REIT acquires Dallas-Fort Worth apartments

Residential  •  Canada Newswire

BSR Real Estate Investment Trust  (HOM-U-T) announced it has completed the acquisition of Riverhill Apartments in Grand Prairie, Texas  for US$45.2 million. The Riverhill Apartments are centrally located in the Dallas-Fort Worth Metropolitan Statistical Area.

CEO acquires NorthWest Healthcare securities

Commercial  •  Canada Newswire

NorthWest Healthcare Properties REIT (NWH-UN-T) announced it has been advised by chairman/CEO Paul Dalla Lana he has indirectly acquired beneficial ownership of 70,100 additional trust units of the REIT and $10.5 million aggregate principal amount of 5.50% convertible unsecured subordinated debentures.

Granite enters into US$185M unsecured term loan

Commercial  •  Canada Newswire  •  RENX

Granite REIT (GRT.UN-T) announced it has entered into a $185 million US committed four-year senior unsecured non-revolving term facility. Granite intends to use the net proceeds for general corporate purposes, including to fund development and property acquisitions.

Automotive Properties REIT updates credit facilities

Commercial  •  Canada Newswire  •  RENX

Automotive Properties REIT (APR.UN-T) announced that as part of the recently announced acquisitions and expansion of its credit facilities, it has entered into new interest rate swaps totaling $126.0 million on its credit facilities.

Dream Industrial REIT outperforming its peers

Commercial  •  Globe and Mail (Subscription required)

The S&P/TSX Capped REIT Index has gained 2.6 per cent and Dream Industrial REIT (DIR-UN-T) has done even better, gaining 7.8 per cent so far this year. Plus, it currently offers a juicy yield of more than seven per cent.

76% of Canada’s wealth wrapped up in real estate

Residential  •  Global News

Canada’s a rich country with a gross domestic product of over $2 trillion and national wealth valued at more than $11 trillion. But just how much of those riches are wrapped up in real estate? A sizable share, it turns out.

Duplicate services hurt GTHA development: BILD

Residential  •  Toronto Star  •  Canada Newswire

A recent report by Malone Given Parsons  reveals the GTHA can expect a severe shortage of designated greenfield land for new residential development by the middle of 2025, or earlier.

U.S. renters spent $504B on housing in 2018

Residential  •  PR Newswire

U.S. households spent a record amount on rent in 2018 despite a decrease in the number of households who rent their home. Overall, the U.S. spent $504.4 billion on rent in 2018 – more than the entire GDP of Belgium.

U.S. home affordability at lowest level in 10 years

Residential  •  The Real Deal  •  PR Newswire

U.S. home affordability in Q4 reached its lowest levels since Q3 2008 and some experts are calling it the latest and among the most significant indicators of a cooling market. The report was released by data firm Attom Data Solutions.

Fiera Capital acquires 80% interest in Palmer Capital

Commercial  •  Canada Newswire

Fiera Capital Corporation (FSZ-T), a leading independent asset management firm, announced it has reached an agreement for the acquisition of an 80% interest in Palmer Capital Partners Limited, a leading U.K .-focused real estate investment manager, based in London.

10 Coffee Times to be converted into cannabis stores

Commercial  •  Financial Post

FSD Pharma is investing $1.3 million in Huge Shops to help with plans to convert some Coffee Time locations into Ontario cannabis retail stores. The cannabis producer says Huge Shops has the option to acquire at least 10 Coffee Time locations.

London Drugs considers move from Richmond, B.C.

Commercial  •  Globe and Mail

London Drugs says it may move its Richmond, B.C., head office and distribution centre, which employs nearly 900, after the NDP government announced further delays for a plan to replace the George Massey Tunnel.