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Broccolini considers return to its roots - rental housing development
Broccolini considers return to roots - apartment development
Broccolini is seriously considering returning to its roots by building rental housing for the first time in about 50 years as the condo market continues to slump, says Michael Broccolini, chief investment officer and president of its real estate group.
Toronto considers major office replacement pullback
A report to city council, from an in-progress study of office space needs, recommends a significant pullback from requirements for 100 per cent replacement of any office space removed from specified downtown areas or the midtown Yonge and Eglinton node.
Van. Island portfolio underscores multifamily opportunities
One of the largest portfolios of Vancouver Island rental units hit the market in early June, underscoring the opportunities and challenges facing owners. Built by Westurban Developments, the six properties are home to eight buildings with 512 units.
CAPREIT to sell Cdn. manufactured homes to TPG for $740M
CAPREIT (CAR-UN-T) has an agreement to sell its Canadian portfolio of 75 manufactured homes communities to TPG Real Estate for $740 million, the Toronto-based trust announced Monday morning. The communities comprise a total of 12,138 residential lots.
Artis REIT sale of Houston industrial portfolio closes
Winnipeg-based Artis REIT (AX-UN-T) has closed on the previously announced sale of Park 8Ninety, a portfolio of industrial properties in Texas. The sale price was C$319 million, representing a price per square foot of C$174.
Canada's lagging data centre construction is a missed chance
Canada isn't building enough data centres, raising concerns that the market may not be able to take advantage of soaring demand. The United States is experiencing an unprecedented wave of data centre development that is set to nearly double inventory.
'Bring your own electricity', AB advises data centre backers
Speaking to a room full of potential investors during Stampede, Alberta premier Danielle Smith said the government has had a busy dance card this week with one industry that’s calling on the province. Data centres.
Lark Group to convert 10 floors of Surrey tower into hotel
In a growing trend that reflects how developers feel about where the demand for office space is going, another Metro Vancouver developer is seeking to convert some its planned office space into hotel space.
Wave of mortgage defaults could hurt us all
Near-record household debt and rising unemployment are creating a precarious environment for over-leveraged homeowners. Worst case, it will force banks and lenders into a credit crunch — a decline in lending activity brought on by a sudden shortage of funds.
CREA cuts sales forecast for 2024 following slow spring
Canada’s national real estate association has slashed its sales forecast for the year following slower-than-expected activity in the spring. Sales are now expected to increase by 6.1 per cent to 472,395 transactions from 2023 to 2024.
Site plan submitted for 36-storey, mixed-use Toronto tower
The urbanization of Six Points Plaza is advancing with the submission of a site plan approval application for Phase 1. The plan will introduce a 36-storey mixed-use condominium and retail building into an area just north of Kipling Station.
Burnaby rents dip but still second most expensive in Canada
Burnaby's rental prices saw a small drop last month, according to a new report. Rentals.ca's July update shows the average price of a one-bedroom rental in Burnaby is more than $2,500 at $2,543.
Quebec construction firms have less difficulty recruiting
As the job market tightens, far fewer employers in the construction industry are reporting recruitment difficulties, according to the Commission de la construction du Québec. Only 55 per cent reported having experienced difficulty recruiting labour over the past 12 months.
Jacob Bros. say joining Bird will add 'financial horsepower'
Last month, Bird Construction (BDT-T) announced it will acquire Jacob Bros for $135 million. The acquisition must be cleared by the Canadian Competition Bureau and is expected to close in the third quarter of 2024.
Little closure three years after Kelowna crane collapse
It's been three years since the crane at the Brooklyn tower collapsed in downtown Kelowna, killing five people – one of the worst tragedies in the city's history. The tower crane collapsed while crews were attempting to disassemble it.
adidas to open flagship store in Vancouver
Earlier this year, German athletic brand adidas announced it will open a 35,000-sq.-ft. concept store at Robson and Burrard Streets in downtown Vancouver. Now, it is offering more details about the project.
Rents soar 20% in largest U.S. data centre markets
Data centre rents and power costs have surged since last year in many of the most important hubs in the U.S., according to a CBRE report. Average rents in the four largest North American markets increased 20 per cent year-over-year, CBRE found.
$400M loan on Brookfield's Bank Of America Plaza in special servicing
A $400M US CMBS loan on Brookfield Properties' Bank of America Plaza in Los Angeles has moved to special servicing. The loan is set to mature in September.
U.S. bill could make antitrust case against corporate landlords
A new U.S. Senate bill would require institutional investors that buy homes in bulk to report large purchases to federal regulators, putting corporate landlords within the reach of antitrust enforcers at the Federal Trade Commission and Justice Department.
China property crash is hurting niche pocket of ESG finance
China’s property downturn is weighing on yet another corner of financial markets: ESG-labelled securitized debt. Chinese developers are issuing far fewer securities tied to climate or social objectives, with only $2.8 billion raised in the first half of 2024.
Industry Events
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RealREIT
Sep 10 2024
Toronto
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Canadian Apartment Investment Conference
Sep 11 2024
Toronto
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BOMEX - BOMA Canada's National Building Summit
Sep 23 2024
to Sep 25 2024
Vancouver, B.C.
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Winnipeg Real Estate Forum
Sep 24 2024
Winnipeg
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2024 CREW Network Convention
Sep 25 2024
to Sep 27 2024
Vancouver Convention Centre
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Ottawa Real Estate Forum
Oct 02 2024
Ottawa Conference & Event Centre
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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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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