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Robots, Colliers, VTS push tech into spotlight at TREF
Robots, Colliers, VTS push tech into TREF spotlight
If there was one takeaway from the Toronto Real Estate Forum it’s that tech has begun its reign in CRE. The conference opened with an interactive robot on stage, featured a jam-packed proptech Demo Day, and a half-dozen related presentations.
Iconic Olympic tower prime Montréal office space
Having offices in the tallest inclined tower in the world makes for an excellent way to attract employees, a representative of the Desjardins financial cooperative says. 1,300 employees now work in the Tour de Montréal at the Olympic Stadium.
Broccolini’s Ottawa warehouse passes early hurdle
• Ottawa Business Journal • Ottawa Citizen • CBC
The stage is set for Broccolini’s proposed warehouse after a City of Ottawa committee approved plans in principle for the project Thursday. Though Broccolini sought heights of 98.5 feet for a 700,000-square-foot facility, the report recommended a maximum height of 72 feet.
BentallGreenOak sells $1.75B logistics portfolio
A Patrizia fund, in partnership with Danish pension fund PFA and South Korea’s Public Officials Benefit Association, has acquired a CAD$1.75 billion European logistics portfolio from BentallGreenOak’s GreenOak Europe Fund II value-add fund.
Calgary makes Flames arena deal official
• Globe and Mail • CBC • Calgary Herald
A deal to build a new arena in downtown Calgary is official. In the agreement, the Calgary Sports and Entertainment Corporation, which owns the Flames, and the City of Calgary will equally split the cost of the $550-million facility.
Vancouver’s Vision Critical moves HQ to Toronto
• Business In Vancouver • Globe and Mail (Sub. required)
One of Vancouver’s biggest employers in the tech sector is shaking up its leadership team and moving its head office to Toronto. Vision Critical Communications Inc. announced Ross Wainwright has replaced Scott Miller as CEO of the company.
Court action to fight expropriation of two Van. hotels
• CBC
The Sahota family – owner of two Downtown Eastside properties – is taking the City of Vancouver to court over its attempt to expropriate the Balmoral and Regent hotels for $1 each. Lawyer Evan Cooke says the city has overstepped its bounds.
B.C. suing to seize $1.83M Langley property
The province is suing to have a $1.83-million Langley property forfeited, alleging it has been used to produce drugs and launder money. Named in the suit are a numbered company that owns the property and company sole director Milan Pocuca.
U.S. short-seller takes aim at Canadian Tire
• Ottawa Citizen • Canada Newswire
Spruce Point Capital Management, a New York-based firm with a history of shorting TSX-listed stocks, made Canadian Tire Corp. (CTC-T) its latest target on Thursday, outlining the challenges the company faces in its “antiquated” retail stores and in eliminating its debt.
Golpro buys Ottawa heritage building for $8.5M
Golpro Holdings has purchased one of downtown Ottawa’s most recognizable heritage buildings – the five-storey Trafalgar Building at 207 Queen St. – from Toth Equity for $8.5 million with the aim of turning it into a top-tier commercial property.
Battle for Sandy Hill heats up in Ottawa
It’s an aging fixer-upper on a large lot just 800 metres away from the University of Ottawa. When prospective buyers came to look at her next-door neighbour’s house, Christine Aubry believes they saw its potential. And that’s what scared her.
Enterprise acquires Discount Car and Truck Rentals
• Canada Newswire • Toronto Star
Enterprise Holdings Inc., announced it will acquire Discount Car and Truck Rentals, a leading Canadian car and truck rental company serving customers across Canada. This includes all corporate-owned locations and the Quebec licensee’s daily rental businesses.
Partners REIT unitholders approve McCowan takeover
• Globe Newswire • RENX
Partners REIT (PAR-UN-T) announced the plan of arrangement pursuant to which McCowan and Associates Ltd. will acquire all of the outstanding units of the REIT for a price of $0.78 in cash per unit was approved by its unitholders.
CPPIB to invest up to $600M in Indian fund
• Canada Newswire • IPE Real Assets
National Investment and Infrastructure Fund (NIIF) of India and Canada Pension Plan Investment Board (CPPIB) announced an agreement for CPPIB to invest up to US$600 million through the NIIF Master Fund.
Prologis expands China development venture to $3.5B
• PR Newswire • IPE Real Assets • CP Executive
Prologis, Inc. (PLD-N) announced the expansion of its development venture in China and increased its development capacity to more than US$3.5 billion. Prologis also announced the formation of its new US$1.7 billion open-ended Prologis China Core Logistics Fund, LP.
Inovalis to acquire remaining interest in French property
Inovalis REIT (INO-UN-T), which owns a 25 per cent interest in an office building in Arcueil, France, has an agreement to acquire the remaining 75 per cent interest in the property. The Arcueil property has office floor plates of approximately 27,000 square feet.
Tarion CEO and chair out in ‘complete overhaul’
• Toronto Star • Winnipeg Free Press • CBC
Queen’s Park says it has cleaned house at Tarion Warranty Corp., homebuilder regulator and new home warranty provider. Government and Consumer Services Minister Lisa Thompson announced Tarion CEO Howard Bogach is retiring and board chair Paul Golini Jr. has resigned.
Airbnb reins in parties with new rules
• CBC
Airbnb is taking steps to crack down on parties and nuisance guests in the wake of a Halloween shooting at an Airbnb rental in a San Francisco suburb. The company is banning “open invite” parties at all of its accommodations.
Greater Montreal Area sales continue to soar
• Globe Newswire • Montreal Gazette
In total, 4,084 residential sales were concluded in November, a 13 per cent year-over-year increase, according to the Quebec Professional Association of Real Estate Brokers (QPAREB) its most recent residential real estate market.
Owning home pipedream for many millennials: KPMG
Soaring house prices and rising personal debt are making it impossible for many millennials, even those with good paying jobs, to ever afford a home, finds a new poll commissioned by KPMG in Canada.
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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