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Grosvenor acquires 100% of Victoria-area shopping centre

2 days ago

Grosvenor acquires 100% of Victoria-area shopping centre

Grosvenor Property Canada has acquired the remaining interest in Broadmead Village, a grocery anchored open-air shopping centre in Saanich, near Victoria, with future development or intensification potential.

Leyad: Former HBC space 83% committed to new tenants

Montreal-based Leyad announced Monday a series of operational and leasing accomplishments which it says underscores a “differentiated” approach to its retail properties amid a shifting landscape in the sector.

Fortress co-founders sentenced to five years in prison

The co-founders of now-defunct syndicated mortgage company Fortress Real Developments Inc. have been sentenced to five years in prison and ordered to pay $12.2-million each for committing fraud.

Morningstar dominates as ratings shopping takes off

For years, one credit-ratings firm has handed out the most favourable grades to corporate borrowers in the Canadian bond market: Morningstar DBRS. On average, its ratings are one full notch higher than those assigned by other agencies.

Pattison nixes plan to sell warehouse for ICE use

Canadian billionaire Jim Pattison’s development company said Friday it won’t move forward with the sale of a Virginia warehouse that the U.S. Department of Homeland Security planned to convert into an ICE jail.

B.C. developer must reveal personal finances or face jail

A Vancouver developer faces the possibility of jail later this month unless she comes clean about her personal finances in B.C. Supreme Court. Helen Chan Sun owns Landmark Premiere Properties Ltd., a company involved in residential developments around Vancouver.

12,000+ Alberta government employees return to offices

Thousands of Alberta government workers are heading back to work in their offices full time. Sunday marked the official end of the province’s hybrid-work option, which was implemented during the COVID-19 pandemic.

Vancouver office vacancies rise, but sales buoy confidence

Vancouver continues to have plenty of empty offices downtown, even as other cities in Canada are seeing a wave of large tenants taking up more downtown spaces. But market experts say commercial property owners remain bullish on Vancouver’s downtown.

Westbank office project pivots to hotel, res. and data centre

One of downtown Vancouver’s largest office development projects, first planned during the pre-pandemic office market boom, will not proceed as originally approved, given the prevailing weak office market conditions.

Vancouver Plan to be replaced by Official Development Plan

Vancouver City Council is poised to make one of the most consequential planning decisions in the city’s history: the adoption of the City of Vancouver’s first citywide Official Development Plan.

Domestic tourism drives hotel sector forward in the West

Strong demand for hotel rooms is fuelling renovation and new construction at sites like 1300 Robson St. in downtown Vancouver, but Kyle Wright, vice-president, development, with Bosa Properties Inc., says a combination of uses is still important for viability.

Vancouver city staff want hearing for Marcon hotel plan

Vancouver city staff are generally backing a 25-storey hotel development for the West End, but say it should go to a public hearing. Langley-based developer Marcon has proposed the hotel tower at the edge of Stanley Park.

Four new developments set for Calgary's East Village

A groundbreaking ceremony was held for a new building in East Village last week, the first of four new developments coming to the neighbourhood in 2026 as the Calgary Municipal Land Corporation rolled out plans for the new spaces.

Eddie Bauer stores in Canada and U.S. poised to close

Eddie Bauer’s long-running retail presence in Canada appears to be nearing its end, as the company’s North American store operations prepare for a Chapter 11 bankruptcy filing, likely to lead to the closure of all 28 remaining Canadian locations.

Artis and RFA Capital complete merger

Artis REIT and RFA Financial have completed their merger. RFA now becomes a scaled, growth‑oriented financial services platform centred on a Schedule I bank and a prime and alternative mortgage origination and servicing business, supported by a CRE portfolio. .

Brookfield to buy Peakstone Realty Trust in $1.2B deal

Brookfield Asset Management (BAM-T) said on Monday it would buy Peakstone Realty Trust (PKST-N) for an enterprise value of about US$1.2-billion, sending the industrial real estate investment trust’s shares up 33 per cent in premarket trading.

Uber, Habitas founders launch luxury multifamily startup

The founders of Uber and hospitality company Habitas have launched a new multifamily development and management company. Travis Kalanick and Oliver Ripley have launched Sekra, a startup focused on building and managing luxury apartments aimed at wealthy, younger renters.

Tishman Speyer in talks to retake Chrysler building ownership

Tishman Speyer is the frontrunner to become the owner of one of New York City’s most iconic properties. The Rockefeller Center owner is in advanced talks to become the Chrysler Building’s owner for the second time, Crain’s New York Business reported.

Landlord of 100,000 units will pay $53M to settle RealPage suit

Mid-America Apartment Communities struck a US$53M deal to settle its part of a sprawling class-action lawsuit accusing the publicly traded landlord of working with dozens of other landlords to coordinate rents. 

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