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Nicola Wealth focuses on long-term growth in Victoria

5 days ago

Nicola Wealth focuses on long-term growth in Victoria

Later this summer, Vancouver-based Nicola Real Estate — the real estate arm of investment management firm Nicola Wealth — will be welcoming residents to Spencer Block, the company’s latest purpose-built rental community in Victoria.

Rogers buying remaining stake in MLSE for $4.35B

Rogers Communications Inc. says it has signed a deal to buy the remaining 25 per cent stake in Maple Leaf Sports & Entertainment it does not already own from Kilmer Sports Inc. for $4.35 billion.

Limited retail construction giving RioCan an edge

With relatively few exceptions, very little new space for retail is being built — a market dynamic that is pushing up rents for retailers and giving landlords such as RioCan an edge.

Grosvenor signs large industrial lease on Annacis Island

Grosvenor, the British real estate company that first arrived Canada in 1952 by acquiring Annacis Island, has signed its largest lease by size and value with U.S. distributor S&S for a 162,650-sq.-ft. warehouse on the island.

Costco expands Canadian footprint with new warehouses

Costco is quietly building one of the most active retail expansion pipelines in Canada. From Northwestern Ontario to Metro Vancouver, the membership-based retailer has warehouses under construction or in advanced planning across a growing list of communities.

Pattison Food Group updates facility with Dematic tech

The Pattison Food Group is updating its Langley, B.C. grocery distribution centre with new automated technology from Dematic. The 485,000-square-foot grocery warehouse will deploy advanced automation technologies intended to improve fulfillment efficiency, increase capacity and support scalable grocery operations.

Timbercreek to buy Slate's Life Plaza office tower in Calgary

Another office tower owned by Toronto-based Slate Asset Management has been placed under receivership, according to court documents, but this one already has a buyer in place — Life Plaza will be acquired by Timbercreek Financial.

Pembina, partners approve $4.6B gas plant for data centre

Pembina Pipeline Corp. and two partners have given the go-ahead to the Greenlight Electricity Centre, a natural gas plant serving a data centre customer. The 932-megawatt plant would be built in Sturgeon County, north of Edmonton.

Condo developers offering big discounts for signing NDAs

In real estate, recently sold nearby homes are the main tool for estimating a property’s value. So, large discounts on certain units could drag down the value of other units as well. NDAs keep the large discounts confidential.

Shipping costs soar as retailers order ahead of tariffs

Christmas is coming early this year, and it's pushing up shipping rates. A glut of early wholesale orders for everything from holiday decorations to home furniture has propelled maritime shipping costs to four-year highs.

InterRent REIT provides update on Carriage Hill acquisition

InterRent REIT has announced that all closing conditions have been satisfied for its previously announced plan of arrangement. Under the agreement, Carriage Hill Properties will acquire all InterRent REIT units in a transaction valued at approximately $4 billion.

PROREIT completes acquisition of 17 industrial properties

PROREIT has announced the completion of its previously announced acquisition of a 100 per cent interest in two industrial portfolios, located in Québec City and Winnipeg, for an aggregate purchase price of approximately $136.8 million.

Gordie Howe bridge cost still $6.4B despite delays

The cost of the new Gordie Howe International Bridge connecting Windsor and Detroit is still $6.4 billion despite multiple delays, according to the federal authority overseeing the project. The Canadian government has footed the bill.

Sun Life completes $350M acquisition of Bell Partners

Sun Life Financial Inc. has completed its acquisition of Bell Partners, a leading U.S. multifamily real estate investment manager and vertically integrated property management business, for a purchase price of US$350 million.

CPP Investments partners with EQT on data centres

Canada Pension Plan Investment Board (CPP Investments) has announced it will invest $2.4 billion to support EQT's strategy to build AI infrastructure, led by global data centre developer and operator EdgeConneX. 

SEGRO signs $5.7B logistics JV with PSP in UK deal

SEGRO has agreed heads of terms for the formation of a 50-50 joint venture with the Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, to develop and operate three major UK logistics parks.

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