Upsuite partners with Colliers on co-working platform

RENX  Commercial  •  Technology, Investment  •  International

Colliers International is expanding its relationship with Upsuite, a Denver-based startup catering to the rapidly expanding shared and flexible workspace office sector. Upsuite is a free online marketplace allowing users to easily find, compare, share and select co-working spaces.

Data platform firm setting up Toronto office

Commercial  •  IT World Canada

San Jose-based data platform firm Cohesity Inc. is expanding its Canadian presence with an office in Toronto and between 100 and 120 employees across the country within a year’s time, according to the firm’s engineering lead for the Canadian office.

Value of Calgary CRE deals climbs 16%: Altus

Commercial  •  CBC

New data from the Altus Group, a commercial real estate services company, shows that 2018 marked the third consecutive year of investment growth in Calgary. The Altus Group says the fourth quarter of 2018 saw $1.2 billion in commercial sales in Calgary.

NYC’s $25B Hudson Yards opens today

Residential, Commercial  •  The Guardian  •  Canada Newswire  •  PR Newswire

Hudson Yards, a glittering new development in New York billed as the largest private real estate project in the history of the United States, makes its debut today on Manhattan’s west side.

Brookfield’s Oaktree deal creates private equity giant

Commercial  •  Bloomberg

Bruce Flatt put Wall Street’s biggest private equity players on notice the juggernaut was coming for them three years ago. The head of Brookfield Asset Management (BAM-A-T) said his firm should be mentioned in the same breath as Blackstone (BX-N).

SVN’s Derek Lobo: I had a heart attack, you don’t have to

RENX  Commercial  •  Human Resources  •  National

Derek Lobo, the CEO of SVN Canada, is a go-getter. So much so, his doctor predicted he’d have a heart attack. After it happened, “I went back and apologized to her.” Now, Lobo hopes his experience can benefit others.

NordikLeaf acquires Perth-area real estate

Commercial  •  Ottawa Business Journal  •  Canada Newswire

An Ottawa-area cannabis company has found a suitable plot of land for its growing operations just outside of Perth. NordikLeaf announced Thursday it has secured a 25-acre plot of land with an existing 41,000-square-foot building on-site.

Winnipeg’s Kildonan Place getting a makeover

Commercial  •  Winnipeg Free Press

Kildonan Place has seen Zellers, Target and now Sears stores come and go but the Transcona mall appears to have plenty of fight left. Winnipeg’s Planning, Property and Development department has approved plans for a major redevelopment.

Sully’s Boxing Gym fights to stay open

Commercial  •  Toronto Star

When Tony Morrison strolls into Sully’s Gym to meet his Tuesday afternoon students, he walks past a dozen old punching bags, laid on their sides and stacked like firewood in the main hallway.

$45-million sports arena coming to south Burnaby

Commercial  •  Western Investor

The Saskatchewan Edge › Wasn’t there a Chili’s here yesterday?

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

Thousands of parking spots lost in Montreal REM plan

Commercial  •  CBC  •  Montreal Gazette

West Islanders expecting to take the REM to the airport or downtown should also expect to ride the bus to the station, since only a fraction of the parking spots promised have found their way into the project’s latest plans.

The veiled world of B.C. rental arbitration

Residential  •  Globe and Mail (Subscription required)

Tenant Randy Haynee had to sit through five dispute-resolution hearings with the Residential Tenancy Branch before finally resolving a dispute with his landlord that had dragged on for months.

Vancouver takes action on illegal short-term rentals

Residential  •  Global News  •  Globe and Mail  •  Daily Hive

The City of Vancouver says it has taken enforcement against 820 suspected illegal short-term rentals (STR) in the last six months. Vancouver’s new short-term rental regulations took full effect on Sept. 1 and the city has opened more than 2,000 case files.

Canadian homes sales at lowest level since 2012

Residential  •  CBC  •  Canada Newswire  •  Canada Newswire

Canadian home sales plunged to their lowest level in more than six years in February, and the average price fell to $468,350. The Canadian Real Estate Association said Friday only 29,974 residential properties changed hands during the month.

Calgary detached prices drop $36K year-over-year

Residential  •  CBC

The median selling price for a detached house so far this year has been $456,375, according to daily sales statistics compiled by the Calgary Real Estate Board (CREB). That’s down 7.3 per cent — or more than $36,000 — year-over-year.

Homeplus K-REIT withdraws $1.5B Korean IPO

Commercial  •  Bloomberg

Homeplus Co., backed by private-equity firm MBK Partners Ltd., has withdrawn a planned listing, dashing hopes the retailer would transform South Korea’s nascent REIT market with the country’s biggest-ever deal.

China’s property investment growth hits five-year high

Residential, Commercial  •  Reuters

China’s property investment accelerated in the first two months of the year driven by strong demand in its hinterland and defying a decline in sales, government curbs in bigger markets and a broader economic slowdown.