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Hines buys 17-storey Calgary office tower out of receivership

5 days ago

Hines buys Calgary office tower out of receivership

Hines has acquired Life Plaza, located in downtown Calgary at 734 7th Ave. S.W., with Timbercreek Financial continuing as a strategic lending partner. Life Plaza was previously owned by Toronto-based Slate Asset Management but was placed under receivership in June.

Slate Grocery suspends distributions amid strategic review

Slate Grocery REIT (SGR-UN-T) announced Wednesday evening that it is suspending its distributions following a recommendation of the special committee undertaking a strategic review of the REIT.

KingSett takes over 4 Vandyk projects in $362M credit bid

Two-and-a-half years after forcing several projects by Ontario-based real estate developer Vandyk Group into receivership, KingSett Capital is now the owner of four of those projects, according to filings in Ontario Superior Court.

$1.3B northern Alberta power plant, data centre in the works

A $1.3-billion power plant and an adjacent 1,500-acre data centre campus are proposed for an area approximately 200 kilometres northwest of Edmonton, developed by Teton Digital, LLC.

High Art Capital pays $22.3M to bulk buy 43 unsold condos

The provincially backed but privately owned investment firm High Art Capital has bought 43 unsold condos near Yonge Street and Eglinton Avenue for $22.3 million, according to land registry records — an average of about $518,600 per unit.

Calgary’s suburban office market takes centre stage: The imperial oil campus milestone

The narrative of Calgary’s commercial real estate landscape is shifting, and the suburbs are leading the charge. 

Sponsored by: Colliers Canada Brokerage

B.C. developers proceed carefully as rental market softens

B.C. developers are moving ahead with planned rental projects cautiously as softer demand and a growing supply of completed units put pressure on rents. Asking rents in B.C. have fallen about 10 per cent over the past three years.

Bayview Village shopping centre unveils major renovations

With its over 70,000 sq. ft. facelift officially complete, it looks like Bayview Village is putting its hat in the ring for the city's most stylish mall. The renovation is just one factor in a broader 22-acre master plan.

Walmart breaks ground, Real Canadian Superstore coming

The new Walmart Supercentre will be the first anchor tenant of the 1,200-acre Taza Park West, which is located just past Calgary’s city limits in Tsuut’ina Nation. A huge Real Canadian Superstore will also be opening nearby this fall.

OLT ratifies three development proposal settlements

The Ontario Land Tribunal (OLT) ratified settlements for three Toronto developments, approving new tower heights and other adjustments at 110 Sheppard Ave. E., 2912 Sheppard Ave. E. and on the northeast corner of Lawrence Avenue East and Midland Avenue.

Toronto’s Canary District displays architecture with charm

“It’s everything City of Toronto planners ever wanted,” says Smart Density co-founder Naama Blonder, “and it’s beautiful.” The right scale is, well, scalable, but when planners get the formula correct, it creates charm.

Blackstone to launch new private wealth offering in Canada

It is the first time that Blackstone will offer retail investors a single fund that invests in private equity, infrastructure, real estate as well as credit, at a time when private credit loans and buyout funds have faced industry headwinds.

CPP partner in Oxford science campus puts stake for sale

A science and innovation park near Oxford is for sale in what would be one of the largest deals in the sector this year. CPP Investments bought half of the park for roughly $373 million (£200) in 2017. 

Oracle cites ‘force majeure’ amid data centre controversy

Oracle Corp. is moving to shield itself from racking up expenses on a massive data centre being built in New Mexico, adding a fresh wrinkle to a project beset by opposition and regulatory setbacks.

McDonald's unveils $8.5B plan for restaurant improvements

McDonald's released a supersized growth strategy at an investor day in Chicago on Wednesday, providing billions in support to franchisees over the next decade. The plan is designed to bolster restaurant modernization, technology deployment and operational improvements.

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