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Unitii sells Calgary apartment tower, plans to build new multires
Unitii sells Calgary apt. tower, plans to build new multires
Calgary-based Unitii Corp. has sold Chelsea Estates, a 179-unit residential rental high-rise in Calgary, as it gears up to develop several hundred residential rental units in its pipeline in the city and in Victoria.
Leyad expands west, buys Winnipeg distribution facility
In 2023, Montreal-based Leyad expanded into Atlantic Canada. In 2024, it is expanding into Western Canada with the acquisition of a 263,430-square-foot distribution centre in Winnipeg.
Vancouver Canada's top city for CRE investment: Altus
Investor appetite in Vancouver commercial real estate remains hearty despite some economic indigestion last year. Vancouver ranks as investors’ top Canadian market with $8.4 billion invested in 2023, followed by Toronto and Ottawa, according to Altus Group.
CentreCourt, Fitzrovia, Choice JV proposes 68-storey tower
A CentreCourt, Fitzrovia Real Estate and Choice Properties REIT JV has proposed a a 68-storey tower at 543 Yonge St. in Toronto’s Yonge-Wellesley neighbourhood. The Arcadis-designed tower would include 663 condo units and 3,832 square feet of retail space.
The plan to turn Broadway into one of Van.'s greatest streets
Six subway stations are expected to form the backbone of a second downtown. All that potential development puts pressure on the City of Vancouver to carve out more public spaces along busy Broadway Avenue.
Concert proposes two Victoria residential buildings
Vancouver-based Concert Properties is seeking rezoning approval for 26- and 11-storey residential buildings at what once was a YMCA-YWCA in Victoria. The project at 851 Broughton St. would comprise 220 condominium and 150 rental units.
SNFLWR acquires 26K-sq.-ft. Penticton industrial building
After sitting vacant for five years, a 26,000-square-foot industrial building on nearly two acres at 2324 Government St. in Penticton, has been acquired by SNFLWR Investment Corporation. SNFLWR plans to add 16,000 square feet of space to the property.
BrettYoung builds $20M south Winnipeg facility
Turf and forage seed business BrettYoung has built six new buildings on its 30-acre Winnipeg site in the last 10 years — the most recent a $20-million, 60,000-square-foot cleaning, sorting and packaging facility featuring automated technologies.
Vancouver hotels priciest, most filled in Canada in February
Vancouver's metropolitan region saw a 73.5 per cent hotel-occupancy rate in February, down from 74.6% year-over-year. That rate topped occupancy of 66.9 per cent in the GTA, 62.5 per cent in Ottawa-Gatineau and 57.8 per cent in Montreal.
Rogers Centre renovations almost ready for season opener
With less than a month to go before the Toronto Blue Jays’ home-opener on April 8, fans got a sneak peak of the second phase of the $300-million multi-year renovations at the Rogers Centre.
'Accidental landlords' reno Hamilton homes into multiplexes
Self-proclaimed “accidental landlords” Steven and Sonia Tran are applying their self-taught knowledge of land ownership and redevelopment to transform two century homes in downtown Hamilton into energy efficient multiplexes to meet a need for missing middle housing.
Real estate podcasts
Mark Kenney, CAPREIT: The real story of rental affordability, CRE Podcast
Ali Baker, Avison Young: Retail trends shift to suburban markets, The Interview Series
Chris Ballard, Passive House Canada: Passive housing drives a sustainable future, CRE Podcast
RBC to close 25 HSBC locations, convert others
RBC says it will be closing 25 HSBC Bank Canada branches and rebranding dozens more after its takeover deal closes next week. RBC spokesperson Christine Stewart said the closures are part of the company's "process of optimizing our branch network."
Couche-Tard shares plunge as sales drop
Alimentation Couche-Tard Inc. (ATD-T) says net earnings attributable to shareholders totalled US$623.4 million in its third quarter, down 15.5 per cent from US$737.4 million a year earlier.
The bumpy destiny of Quebec's Réno-Dépôt
In 30 years, Réno-Dépôt's owners have been Quebecois, French, British and American. It's unknown whether its name will survive as at least some its 20 branches will be transformed into Rona+.
Swimco opens new stores, bounces back from COVID
After experiencing some tough financial times through COVID which included a bankruptcy, Calgary-based retailer Swimco is expanding its presence in Canada. It recently opened its third store in Park Royal Shopping Centre in West Vancouver.
REITs invested $2B in health-care facilities in Q4
Real estate investment trusts acquired nearly $2 billion in health-care sector acquisitions in Q4 2023, hoping to time the wave of America’s largest generation aging into the need for more health assistance.
Jesta proposes 12-storey MIami Beach condo buildings
Montreal-based Jesta Group is proposing to transform Miami Beach’s legendary Clevelander hotel with the construction of two 12-storey luxury condominiums. Jesta had earlier proposed replacing the Clevelander with a 30-story residential tower.
Amazon inks 1.2 MSF lease for new Phoenix industrial asset
Amazon (AMZN-Q) has committed to a 10-year lease at a new 1.2 million-square-foot industrial facility at The Cubes at Glendale in Phoenix’ West Valley that Chicago-based developer CRG has listed for sale.
OPINION: It’s time to be honest about America’s CRE hangover
Canadian insurance company Manulife this week caused a frisson when it revealed it had written down the value of its U.S. office investments by 40% from a pre-COVID peak. That shows some players are getting honest about America’s CRE pain.
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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