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Forum expands multires development at retail properties
Forum expands multires development at retail properties
Developer Forum is planning to densify more commercial properties across Canada by adding residential developments. Its latest project, in partnership with Axxys Construction, is the Lustra rental condos in Terrebonne, Que., at the Promenades Terrebonne.
Hazelview again halts redemptions on $1.3B fund
Hazelview Investments, a private money manager that specializes in commercial real estate, is halting redemptions on its $1.3-billion Four Quadrant fund for the second time in a year. Hazelview halted redemptions on the same fund in Q4 2023.
CI Financial nears $500B in assets
CI Financial Corp. (CIX-T), Canada’s largest independent asset manager, is nearing $500 billion in assets under management as it continues to snap up U.S. wealth management companies despite continuing investor concern about its debt load.
25-storey Ottawa mixed-use tower under receivership
Guelph-based Reid's Heritage Properties' planned 25-storey mixed-use tower at 1546 Scott St. in Ottawa has been placed under receivership. Evoke was to include 230 residential units, 176 parking spaces, and just under 2,400 square feet of commercial space.
B.C. builders take small comfort from interest rate drop
ANALYSIS: The B.C. condo market has slowed significantly in the last eight months, enough that developer Rocky Sethi acknowledges that it was a “brave” move launching the first phase of the city of Penticton’s first master-planned community.
Quebec needs 17,000 new construction workers a year
In its 2024-2028 outlook, the Commission de la construction du Québec estimates the industry needs 17,000 new workers per year, an increase of 1,000 since last year’s forecast.
Downtown Edmonton recovers 80% of foot traffic
According to a survey conducted by the University of Toronto, Edmonton's downtown has recovered 80 per cent of its foot traffic compared to Q4 2019.
Downtown Windsor firms look to move over high rents
Landmark downtown Windsor businesses are considering relocating as they say they're struggling to keep up with significant rent hikes, just as the city forges ahead on a multi-million dollar downtown revival plan.
HTEC closes on $145M North Vancouver industrial property
Vancouver-based Hydrogen Technology & Energy Corp. (HTEC) closed on the $145-million acquisition of a 21-acre industrial property at 100 Forester St. on the North Vancouver waterfront following 16 months of due diligence with specialty chemicals producer ERCO Worldwide.
ANALYSIS: Did National Bank pay too much for CWB?
On Bay Street, they’re calling National Bank's deal for CWB the most logical transaction in Canadian banking. But there are lots of questions swirling as to whether National overpaid by offering a 110 per cent premium to CWB’s closing price.
City of Toronto exposes Tridel banking information online
The City of Toronto exposed banking information of development giant Tridel on a public website. A bank account number, branch number and transit number used by one of Canada’s biggest builders was posted for all to see.
U.S. investment banker Stifel closes Calgary office
Stifel Financial Corp. (SF-N) is closing its office in Calgary and consolidating its operations across the rest of Canada, the St. Louis-based investment bank said Wednesday, citing the need to cut costs. Roughly 35 positions are being eliminated.
Windmill, church partner on Stone Abbey condos, townhomes
Windmill Developments has proven the end-user reigns supreme with Stone Abbey Residences, a boutique infill project by the Rideau Canal in Ottawa. The downtown development comprises 19 fully occupied luxury condominiums, plus townhouses.
Montreal’s Wellington Basin should inspire new developments
OPINION: A Montreal neighbourhood is being born with few cars in sight. Residents will walk home from a transit station or cycle up to their front doors. Many blocks will be entirely free of the chaos of vehicles.
CarbonTech announces proposed qualifying transaction
Capital pool company CarbonTech Capital Corp. (CT-P.V) announced it has entered into a purchase agreement with Capricorn Developments Ltd. to acquire the lands and premises located at 3660 West 4th Ave. in Vancouver for $3,019,250.
Real estate podcasts
Julian Schonfeldt, CAPREIT: Accountability and issue-solving sessions in EOS, CRE Podcast
Larry Fink, BlackRock: Retirement challenges that come with living longer, The Bid
Bryan Berthold, Cushman & Wakefield: Developing and supporting workplace experiencer, Tenant Experience Network
Blackstone pauses $1.3B CRE mortgage debt sale
Blackstone Inc.’s plan to sell a $1.275 billion bond backed by commercial real estate debt is now on hold while issuance of the debt continues to soar. The transaction was an opportunistic refinancing, said a source.
Shorenstein under duress with troubled debt approaching $1B
Shorenstein Properties has been a fixture in the skylines of cities across the U.S. for decades. But now, some of the office towers that created the Shorenstein family's legacy are beset by problems.
CBRE tapped to lease major part of $1.2B St. Louis mixed-use
CBRE has been selected by the team behind Gateway South, the $1.2 billion mixed-use development in St. Louis, to be the exclusive brokerage to lease up to 500,000 square feet of class-A office space.
China Evergrande liquidation law firm probing PwC, others
Lawyers appointed by the liquidators of China Evergrande Group are investigating some of the property developer’s service providers, including its former auditor PricewaterhouseCoopers, to potentially recoup losses for creditors, three sources said.
Industry Events
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RealREIT
Sep 10 2024
Toronto
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Canadian Apartment Investment Conference
Sep 11 2024
Toronto
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BOMEX - BOMA Canada's National Building Summit
Sep 23 2024
to Sep 25 2024
Vancouver, B.C.
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Winnipeg Real Estate Forum
Sep 24 2024
Winnipeg
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2024 CREW Network Convention
Sep 25 2024
to Sep 27 2024
Vancouver Convention Centre
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Ottawa Real Estate Forum
Oct 02 2024
Ottawa Conference & Event Centre
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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