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Winnipeg Water Tower District redev to kick off with retail, residential

1 day ago

Water Tower District redev. to kick off with retail, residential

A retail centre will be a key component of the first phase of Winnipeg’s massive Water Tower District redevelopment, with construction expected to start in 2026. It's a property Shindico founder Sandy Shindleman knows well, from personal experience.

Metro Vancouver's rental pipeline hits record high

Metro Vancouver’s rental pipeline is the largest on record, according to a new Rennie report. There were over 18,000 purpose-built market rental homes under construction and over 75,000 units in various stages of planning at the end of Q2.

Allied Properties REIT sees unit price fall 17%

Allied Properties Real Estate Investment Trust (AP-UN-T), one of Canada’s largest publicly traded office building owners, disappointed investors with weak leasing figures and the possibility of a distribution cut, sending its unit price tumbling 17 per cent.

Onex, AIG strike US$7B deal to buy insurer Convex Group

Private equity firm Onex Corp. is partnering with American International Group Inc. to buy property insurer Convex Group Ltd. in a US$7-billion deal, as the Toronto-based company pivots its balance sheet toward in-demand insurance assets.

Retail space shortage fuels growth outlook: Primaris CEO

VIDEO: BNN Bloomberg spoke with Alex Avery, chief executive officer at Primaris REIT (PMZ-UN-T) about the ongoing resurgence in Canada’s retail real estate market, the company’s leasing strategy for former HBC spaces and why demand for physical retail remains strong.

Boyd Group buys 258 U.S. collision centres for $1.8B

Winnipeg-based Boyd Group has acquired autobody repair solutions provider Joe Hudson’s Collision Center for $1.8 billion. The acquisition adds 258 collision locations across the U.S. Southeast to its portfolio of autobody and auto glass repair facilities.

Snuneymuxw First Nation buys two B.C. casinos

Snuneymuxw First Nation is buying two B.C. casinos – River Rock Casino Resort and Chances Maple Ridge. A statement from the Nanaimo-area nation said the deal makes its Petroglyph Development Group the largest Indigenous gaming operator by revenue in Canada.

Pension CEOs renew calls for Ffeds to sell key infra assets

The chief executives of Canada’s major pension funds are reviving a years-long campaign to persuade Ottawa and the provinces to sell key infrastructure such as airports, days before the release of a federal budget geared toward building up Canada’s sovereignty.

$2B data centre proposed for Saint John industrial park

The City of Saint John has its first prospective business for the expanded area of the Spruce Lake Industrial Park. Calgary-based Beacon AI Centers and Texas-based VoltaGrid are proposing to build a data centre on a 120-hectare parcel of land.

Two soaring buildings could replace the Cube House

Two mixed-use buildings reaching 59 and 55 storeys may be replacing Toronto’s Cube House in the Corktown neighbourhood. The residential and commercial development at 1 Sumach St. being proposed by Block Developments would contain 1,284 residential units.

Three buildings with 856 homes proposed for Ajax

The Town of Ajax has received a proposal for a three-building complex comprising 856 housing units. The proposal from First Capital REIT consists of three mixed-use buildings which are 16, 23 and 30 storeys in height, said a town notice.

N.S. developer readies plan for up to 2,500 homes

Nova Scotia development company Five Corners Properties hopes to see thousands of housing units built on undeveloped land in Bible Hill and is readying to present its plans to the municipality for approval. 

B.C. councillor claims Cowichan ruling killed $100M project

A Richmond, B.C., councillor says a company based in the city has been refused financing for what she says is a $100-million project because of the Cowichan Tribes case.

Toronto's corner stores plan deferred again

A decision on legalizing small businesses like cafés and corner stores in the interior of Toronto’s neighbourhoods — under a framework winnowed down in the face of heavy opposition from residents’ associations — has once again been punted into the future. 

Solink expands Ottawa headquarters

Last week, Michael Matta got to do what most CEOs only dream of: use an extra-large pair of scissors to cut a giant ribbon. Matta busted out the supersized cutter to celebrate Solink’s renovated headquarters in Ottawa’s west end.

Ontario government has report on iPro scandal

The Ontario government has received the results of an audit into how the Real Estate Council of Ontario (RECO) handled the iPro scandal — but it’s not making the findings public yet. 

Shaky economy drags down rent growth for major multifamily REITs

Major U.S. apartment REITs reported a shortage of new leases and stagnant rent growth, with some owners going so far as to lower guidance for the remainder of the year as economic concerns grow.

Blue Owl provides $150M to Alterra in first IOS Investment

Alterra IOS has received a US$150-million loan facility from alternative investment asset management company Blue Owl Capital. It's Blue Owl’s first investment in the industrial outdoor storage market.

CRE's AI Journey: high adoption, low achievement

Artificial intelligence is rapidly being adopted in the CRE sector, with 88 per cent of investors and landlords piloting AI projects. However, only five per cent of these companies have achieved all their AI goals.

The AI buildout is so big even a haunted house owner wants in

A former Pennsylvania medical institute owned by developer Derek Strine has been scaring visitors for years. His haunted attraction, Pennhurst Asylum, is about an hour outside Philadelphia. But now Strine wants to turn it into a world-class data centre.

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