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Broccolini converts Toronto's The Riv to rental, kicks off development

1 week ago

Broccolini converts The Riv to rental, kicks off development

Broccolini has changed course and will now build its 37-storey mixed-use residential building The Riv in Toronto’s eastern downtown area as a rental apartment instead of a condominium as originally planned.

OMERS, Caisse still in bidding for property data company

Two domestic pension funds have made the final round of bidders for Regina-based property registry Information Services Corp. (ISC-T) in an auction where support for the Saskatchewan economy is as important as offering the highest price.

Pure Casino bids for Gamehost with VICI's backing

Indigenous-owned Pure Casino Entertainment is offering to buy publicly traded Gamehost Inc. (GH-T) and will partly finance the purchase by selling Gamehost’s four Alberta properties for $200-million to a U.S. real estate company that focuses on owning casinos.

Billy Bishop plan could disrupt proposals for 30,000 homes

There are proposals for at least 30,000 homes spanning Quayside, the Port Lands, Keating Channel and East Harbour along Toronto's waterfront. But it remains unclear just how the plans will be affected by an airport expansion. 

Federal gov't proposes $1.7B fund to help homebuilding

The federal funding is meant to help reduce development fees or other levies on new housing to speed up the pace of construction. But finance minister François-Philippe Champagne said the government isn’t attaching strings to how the money is spent.

TUK advances $20M dev. pipeline; expands in Peterborough

TUK Group, an Ontario-based real estate development and investment firm, continues to grow its portfolio, with over $20 million in active development across four Toronto sites and approximately $6 million in newly stabilized and acquired Peterborough residential assets.

B.C. multifamily market parries supply and demand shocks

B.C.’s multifamily real estate sector is facing headwinds on both the demand and supply sides, but the overall market remains healthy and resilient, according to Sim Waraich, an associate vice-president with Colliers Canada.

National industrialization drive set to benefit the West

After peaking at a record $4.7 billion in 2023, industrial investment in British Columbia and Alberta declined sharply as post-pandemic demand normalized. However, a new source of investment impetus is emerging.

Regina’s office market slowly returns to pre-pandemic pulse

Regina’s office market is showing signs of steady recovery after years of uncertainty, driven by a gradual return to in-person work. Evan Tangedal, managing partner and senior sales associate with ICR Commercial Real Estate, said suburban office spaces are particularly strong.

New 189-suite Hilton hotel opens in Surrey City Centre

Homewood Suites by Hilton Surrey, which occupies the top nine floors of the newly completed 25-storey City Centre 4 tower at 9686 137 St., opened this weekend. It offers 189 suites designed for both short- and long-term stays.

WeChalet has officially gone bankrupt

The Quebec-based rental platform WeChalet officially went bankrupt on March 12. The company reported assets of $1 against liabilities of $1.9 million. Its 238 creditors, including 220 cottage owners, have little hope of seeing their money again.

Toys "R" Us closing more stores, seeks option to sell

As Toys “R” Us Canada prepares to ask a court for permission to put the business up for sale, it’s closing at least two more stores – stores in Ottawa and St. John’s, N.L., have been notified of imminent closings.

What Calgary's Hudson's Bay building could look like

With no concrete redevelopment plan in place, the former Hudson's Bay building was the focus of a public discussion hosted by Heritage Calgary, where experts outlined both the possibilities for the site and the challenges standing in the way.

No Frills debuts new look in Komoka, Ont.

No Frills opened its Komoka, Ont. location last week, debuting a new modern store design for the Loblaw-owned discount banner. The London-area store uses a hybrid of timber and steel for a "warmer, more modern" shopping experience.

Costco expands business centres across Canada

Costco Wholesale is continuing to scale its business-focused retail format nationwide, with the Costco Business Centre Canada expansion gaining momentum in recent months. The latest milestone comes with the opening of a new location in Winnipeg.

Billionaire Kirsh to sell Jetro Restaurant Depot for $29B

Sysco Corp. agreed to acquire Jetro Restaurant Depot LLC, the closely held wholesaler founded by billionaire Nathan “Natie” Kirsh, for US$29.1B including debt in a deal that will create one of the largest food-service groups in the U.S.

EQT sells 7M-square-foot logistics portfolio for $650M

The EQT Real Estate Industrial Core-Plus Fund II has completed its sale of a 36-property, 7.3-million-square-foot portfolio of institutional-grade logistics assets spread across the U.S. The portfolio’s buyer was an Ares Real Estate fund.

U.S. senior housing is filling up, rents growing

Starting this year, 10,000 baby boomers turn 80 every day. And as octogenarians make up a bigger portion of the U.S. population, capital is flowing freely to a senior housing sector that hasn't built nearly enough to keep up.

Blackstone revamps strategy in India's $300B property market

India’s $300-billion real estate market is attracting a wall of institutional capital, having become a top pick for many of the global firms that took years to follow Blackstone’s lead into the country.

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