Starlight, Homestead buy 962 apartments in Toronto, London

RENX  Residential  •  Apartments  •  Ontario, Toronto / GTA  •  January 7, 2019

A joint venture between Starlight Investments and Homestead Land Holdings has purchased two multi-residential apartment complexes, in Toronto and London, Ont., for $241 million. Together, Parkvue Apartments in Scarborough and Esplanade Apartments in London comprise 962 suites.

Calgary’s top 10 commercial properties

Commercial  •  CBC  •  RENX

Calgary’s airport, malls and giant towers received the biggest property assessments last week from city hall. The 2019 City of Calgary property assessments are out, and at the top of the list are places Calgarians often frequent.

Mixed-use real estate blurs definition

Residential, Commercial  •  Western Investor

Residential above retail has been a mainstay for centuries, but the new take on mixed use embraces mingling of virtually every real estate sector. In downtown Vancouver, Boffo Developments is constructing The Smithe.

BOMA issues Cyber Wellness Guide for building owners

RENX  Residential, Commercial  •  Technology  •  National  •  January 7, 2019

Commercial real estate is not immune to cyber security breaches, so BOMA Canada has created the Cyber Wellness Guide. BOMA Canada’s Benjamin Shinewald said there is “growing recognition” of risks, but the industry needs information specific to building operations.

BTB leases vacant Laval industrial property

Commercial  •  Canada Newswire  •  RENX

BTB REIT (BTB.UN-T) announced it has leased to Nuera Enterprises Canada Inc. the entire 133,000-square-foot property located at 3695 Autoroute des Laurentides in Laval, Qué.

Montreal cutting lock boxes off illegal Airbnbs

Residential  •  CTV  •  CBC

The City of Montreal is cracking down on illegal Airbnb units by cutting the lock boxes that store keys for the short-term tenants. The boxes can only be accessed by using the correct code.

Work underway on luxury rentals in Winnipeg

Residential, Commercial  •  Winnipeg Free Press

Construction has started on a mixed-use apartment and retail development in Winnipeg’s West Broadway. The project is being spearheaded by Chanden Homes of Lorette, Man., a relative newcomer to the Winnipeg market.

CentrePort home to some of largest trucking firms

Commercial  •  Winnipeg Free Press

When it comes to CentrePort Canada and the concentration of the trucking industry in the northwest quadrant of the City of Winnipeg, it’s one of those chicken and egg scenarios.

Amazon’s move into gas could harm Couche-Tard

Commercial  •  Bloomberg  •  Globe and Mail

If Amazon gets into the gas station business, it could spell trouble for Quebec-based Alimentation Couche-Tard Inc. (ATD-A-T), according to D.A. Davidson managing director and senior analyst Tom Forte. Couche-Tard operates nearly 10,000 convenience stores throughout North America.

The Saskatchewan Edge › Retail was king in Saskatoon for 2018

Kelly Macsymic: Business Manager, B. Stuart P.C. Inc. , Sales Associate, ICR Commercial Real Estate

Sears prepares for possible liquidation

Commercial  •  Bloomberg  •  Reuters

Sears Holdings Corp. (SHLDW-Q) started laying the groundwork for a liquidation after chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, sources said.

Activist urges Dollar Tree to sell Family Dollar

Commercial  •  Reuters

Activist investor Starboard Value Monday called on Dollar Tree Inc. (DLTR-Q) to explore a sale of its underperforming Family Dollar business and nominated directors to replace a majority of its board after revealing a stake in the company.

Vancouver industrial area finds new CRE life

Commercial  •  Vancouver Sun

Months before Vancouver’s bright red building and its curving shape opens as a destination coffee shop, it’s attracting attention from architects and passersby. It’s another example of the ongoing transformation of a former industrial area.

Tesla breaks ground on first factory outside U.S.

Commercial  •  Financial Post

Tesla broke ground Monday for a factory in Shanghai, its first outside the U.S. CEO Elon Musk said Monday the company will start production in China of its Model 3 and a planned crossover by the end of the year.

Welltower to buy CNL health-care portfolio for $1.3B

Commercial  •  CP Executive

Welltower Inc.’s health-care portfolio will soon balloon by 3.3 million square feet. The REIT has just entered into a definitive agreement to acquire a portfolio of premier medical office buildings and outpatient facilities from CNL Healthcare Properties for nearly $1.3 billion.

Advent International acquires majority stake in Aimbridge

Commercial  •  PR Newswire

Advent International, one of the largest and most experienced global private equity investors, announced that it has signed a definitive agreement to acquire a majority ownership interest in North America’s leading third-party hotel operator Aimbridge Hospitality.

Warren Winkler man behind LeBreton Flats mediation

Commercial  •  Ottawa Citizen  •  Ottawa Business Journal

Warren Winkler has been tasked with what many across the City of Ottawa may have dismissed as a lost cause — mediating the issues between RendezVous LeBreton’s major players, whose behind-the-scenes disputes have been publicly laid bare.

Property market slump goes global

Residential  •  Bloomberg  •  Western Investor

Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening.

How Canada’s housing correction begins

Residential  •  Maclean’s  •  BC Business

Kirk Marsh first noticed the mood start to turn in Vancouver’s housing market a year ago. As a real estate investor who buys homes then fixes them up for resale, Marsh has an excellent vantage point on the market.

Vancouver Island sales dipped 19% in 2018

Residential  •  Victoria Times Colonist  •  Victoria News

The slowdown in Vancouver Island’s real estate market has not been isolated to Greater Victoria, as the rest of the Island reported a sharp downturn in sales activity over the course of 2018.