Rachel Julien pitches $350M Montreal development

RENX  Residential, Commercial  •  Condominiums, Apartments, Retail  •  Greater Montreal

Developer Rachel Julien is planning to spend $350 million to build a 1,008-unit residential project in Montreal near the Olympic Stadium. Called Canoë, the project in the Hochelaga-Maisonneuve neighbourhood will also include up to 80,000 square feet of retail.

Canada’s CRE execs highly optimistic about 2021: PwC/ULI

RENX  Commercial  •  Hotels and Resorts, Office, Industrial, Retail  •  National, International

Canada’s real estate professionals are significantly more optimistic about the 2021 prospects for the sector than their American counterparts, according to PwC real estate research director Andy Warren and the firm’s Emerging Trends in Real Estate report.

The People Space › People Space: Senior appts. at First Capital, Timbercreek, Plaza, Forum …

Don Wilcox: Managing Editor

Private equity scooping up Ontario nursing homes

Residential  •  Toronto Star

While companies such as Chartwell or Revera have dominated the private sector of long-term care in Ontario, a new type of ownership has emerged: private companies, like Arch Corp., that buy homes and hire outside management firms to provide care.

Morguard, SmartCentres suing HBC for unpaid rent

Commercial  •  Globe and Mail (Sub. required)

Morguard REIT, SmartCentres REIT (SRU-UN-T), First Capital REIT and Desjardins Financial are among additional landlords in Canada suing Hudson’s Bay Co. for not paying rent since the coronavirus pandemic started, increasing pressure on the struggling retailer.

Loblaw sales gain during pandemic

Commercial  •  Globe and Mail  •  Toronto Star  •  Canada Newswire

Loblaw Companies Ltd. (L-T) has continued to benefit from higher grocery sales during the COVID-19 pandemic as restrictions on restaurant dining continue. The Toronto-based retailer reported on Thursday that its revenue grew 6.9 per cent in the third quarter, to $15.7 billion.

BTB acquires Laval industrial property for $8.1M

Commercial  •  Canada Newswire  •  RENX

BTB REIT (BTB-UN-T) announced the acquisition of an industrial property located at 2005 le Chatelier Street, in Laval, Qué., for $8.1 million. The property’s 34,200 square feet of space is entirely leased to Kolostat, an industry leader in HVAC mechanical solutions.

Emergia completes two Quebec JV transactions

Residential, Commercial  •  Globe Newswire

Emergia announced two JV transactions have been agreed to or completed. One transaction involves a multiresidential apartment building in Dorval. In the other, Emergia disposed of a Gatineau property. The transactions result in a total disposal of assets of $17.1 million.

UPS’ 850,000-square-foot Caledon facility opens

Commercial  •  Canada Newswire

UPS Canada‘s largest package sorting and delivery facility up and running in Caledon, Ont. The 850,000-square-foot facility, part of a $500-million Canada investment plan announced in 2018, features advanced scanning and sortation technology.

10 new skyscrapers about to transform T.O. skyline

Commercial  •  blogTO  •  RENX

Toronto is a city of soon-to-be skyscrapers. There are 120 active tower cranes in the downtown core alone which will be replaced by some of the tallest condos in Canada. Here are some new skyscrapers about to transform the Toronto skyline:

Top 10 Canadian office building projects

Commercial  •  Daily Commercial News

The accompanying tables show the top 10 major upcoming private and government office building construction projects in Canada. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Cineplex revenue sinks 85% due to restrictions

Commercial  •  Globe and Mail (Sub. required)  •  Bloomberg  •  CP24

Cineplex Inc. (CGX-T) has reported an 85 per cent decline in revenues, and a $121.2 million net loss in its third quarter, as restrictions on public gatherings continued to have a significant impact on the movie theatre industry.

Starlight to acquire Denver apt. complex for $108.5M

Residential  •  Canada Newswire

Starlight U.S. Multi-Family (No. 1) Core Plus Fund (SCPO-UN-X) announced it has entered into an agreement to acquire The Bluffs at Highlands Ranch, a 340-suite, class-A, garden-style, core-plus multifamily property in the Metropolitan Area of Denver, for $108.5 million US.

QuadReal, Valora acquire London industrial asset for $71M

Commercial  •  IPE Real Assets  •  RENX

QuadReal and Valor Real Estate Partners’ newly formed European urban logistics investment venture has acquired a six-unit asset in London as its first asset. The 144,000-square-foot New England Industrial Estate in Barking is reportedly worth $71 million Cdn.

Walmart sells majority stake in Japanese chain Seiyu

Commercial  •  Reuters

Walmart Inc. (WMT-N) is selling a majority stake in Japanese supermarket chain Seiyu to investment firm (KKR-N) and e-commerce company Rakuten for over $1 billion, after years of struggling to make money amid stiff competition.

U.S. CRE construction starts down 27.8% YOY

Commercial  •  Daily Commercial News  •  Daily Commercial News

The latest month’s volume of U.S. construction starts, excluding residential work, was $25.9 billion, nearly a match (-0.4%) for prior-month September’s $26.0 billion (originally reported as $24.3 billion). October’s year-to-date figure, however, were down 27.8 per cent compared to the first 10 months of last year.

Suite Layouts and pricing revealed for Tridel’s MRKT

Residential  •  Urban Toronto  •  RENX

The mixed-income, master-planned revitalization of Toronto’s 18-acre Alexandra Park community is perfectly characterized by a two-tower complex designed by CS&P Architects and SvN that will comprise Tridel‘s MRKT  condominium tower, a nod to the adjacent Kensington Market neighbourhood.

Toronto rents plunge 17% YOY in October: Myers

Residential  •  Toronto Star  •  REMI Network

The listing price of a one-bedroom apartment in Toronto dropped 17 per cent year-over-year in October and the market, which has been declining all year, may not yet have bottomed out, says Bullpen Consulting researcher and author Ben Myers.

B.C.’s rent freeze extended to July 2021

Residential  •  REMI Network

B.C. announced it has extended the freeze on rent increases until July 10, under the powers of the Emergency Program Act and COVID-19 Related Measures Act. Increases set for Dec. 1 are cancelled along with all pending increases through to July.

Home sales fall from record high in September: CREA

Residential  •  Toronto Star  •  Canada Newswire  •  Financial Post

The Canadian Real Estate Association says home sales in October fell back from the all-time record high for monthly sales set in September. October sales were down 0.7 per cent from September, but were still up 32.1 per cent year-over-year.