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Smart Investment acquires GTA's Woodbine Corporate Centre
Smart Investment acquires GTA's Woodbine Corporate Centre
Smart Investment Ltd. has acquired the Woodbine Corporate Centre office and industrial complex in Markham, Ont. from a Slate Office REIT partnership for $52M. CFO Capital facilitated the financing, as institutional lenders continue to avoid the sector.
Ambush sends alert to AIMCo: Government’s in charge
It was supposed to be a bonding experience, but quickly turned joyless. About 170 employees of AIMCo, were gathered at the Westin Edmonton when Alberta's finance minister arrived to tell the CEO and three other senior executives they were out.
Canadian Tire to sell GTA distribution centre for $258M
Canadian Tire Corp. (CTC-T) has an agreement to sell its 90-acre industrial property and 1.5-million-square-foot warehouse in the Toronto suburb of Brampton for $258 million. The company says the distribution facility is no longer needed.
BGO promotes Michelle Brown to Canadian properties lead
BGO has tapped its own property industry veteran, Michelle Brown, as the new head of its Canadian-focused real estate management business. Brown will oversee a portfolio of 450 properties, comprising 69 million square feet including office, industrial, retail and multifamily.
Calgary approves converting LRT parking lot into housing
One of the park-and-ride lots at Calgary's Franklin LRT station will be converted into multi-residential housing, following a unanimous vote on a land-use amendment by city council this week. The proposal would see apartment buildings between six to 26 storeys tall built.
6 towers with 2,500 homes proposed for Coquitlam strip mall
Wesgroup and Choice Properties are proposing to redevelop a 7.8-acre site of 439-465 North Rd., in Coquitlam. The proposal is for six towers, including three 45-storey towers, one 43-storey tower and two 36-storey towers.
Feds commit $574M to help build Vancouver rental homes
The federal government is providing more than $574M in financing to help build about 950 rental homes in Vancouver. A Marcon Developments project on 42nd Avenue is one of four locations receiving funds through the Apartment Loan Construction Program.
$29M land sale enables 18-storey mixed-use tower near UBC
A prominent site near the University of British Columbia is slated to become a mixed-use tower. In a deal worth nearly $29M, Regent College recently completed the sale of its south surface vehicle parking to local developer Polygon Homes.
Canada's economic gap with the U.S. is about to get wider
Canada’s economy has been falling behind the United States — in fact, most major economies — for some time now, but the election of Donald Trump threatens to widen that record gap even further, say economists.
Demolition plan for Hamilton's Tivoli Theatre rejected
Hamilton's heritage permit review subcommittee has voted against Aventus Developments' request to tear down the long-vacant Tivoli Theatre to make way for two condo towers of up to 35 storeys and an event space on the site.
CIBC Bank wants to liquidate Guzzo Cinemas over $38M debt
CIBC Bank intends to request the liquidation of Cinémas Guzzo, from which it is claiming more than $38 million. The financial institution is the group's main lender. It must apply to the Superior Court to obtain its receivership.
Plan set for Olds, Alta. commercial, industrial land
A 655-acre chunk of land north of Highway 27 and east of Highway 2A in Olds is to have commercial developments along the highways and industrial properties in the interior after town council approved an area structure plan.
Premium clothing retailers feel squeeze in Winnipeg
A slew of clothing retailers have recently closed their Winnipeg shops, with some opting for online-only sales. Over the past year, at least three premium menswear stores downtown and an Osborne Village women’s boutique have shuttered their brick-and-mortar sites.
Peloton suddenly closes Vancouver flagship store
This week, Peloton suddenly permanently closed its major showroom at 919 Robson St., in the base of Quadreal Property Group’s 19-storey office tower at the northwest corner of Hornby Street and Robson Street.
Royal LePage predicts market revival for ski homes in 2025
Royal LePage’s latest Winter Recreational Property Report offers an optimistic forecast for 2025, predicting a 7.5 per cent increase in ski chalet prices. After two years of limited activity, the report forecasts improving borrowing conditions and renewed buyer confidence.
Fink pushes BlackRock into high-stakes bet on private markets
Larry Fink turned to big deals to get BlackRock out in front of a decade of money gushing into index funds. Now he’s doing the same to make sure his firm isn’t left behind in the stampede into private assets.
Brookfield’s $1.6B Berlin bet tells story of its vision for overhauling assets
When Brookfield Property Partners paid more than US$1.6B for a nearly 3M-sq.-ft. chunk of Berlin's famous Potsdamer Platz in 2016, it was an area with an incredible history — but had turned into a commercial failure.
Banks raising capital to brace for further commercial property losses: Fed
U.S. banks added to credit reserves in the first half of 2024 to protect against further losses from commercial real estate and some consumer loans, the Federal Reserve said in its twice-yearly supervision and regulation report today.
Timing is everything as ECI Group prepares to target Sun Belt multifamily
Betting the moment is right amid a national fall-off in multifamily construction starts, ECI Group plans to grow its presence in Texas and the southeast U.S. substantially following an influx of capital and the formation of a new debt platform.
Industry Events
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Canada Real Estate Auctions
Dec 01 2024
to Dec 31 2024
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Global Property Market
Dec 03 2024
Metro Toronto Convention Centre, South Building
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Toronto Real Estate Forum
Dec 04 2024
to Dec 05 2024
Metro Toronto Convention Centre, South Building
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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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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