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Innvest buys Victoria's downtown Hotel Grand Pacific

6 days ago

InnVest buys Victoria's downtown Hotel Grand Pacific

InnVest Hotels, Canada’s largest hotel owner and operator, has moved into the Victoria, B.C. market with the acquisition of the 304-room Hotel Grand Pacific.

High Art Capital to buy GTA condos for rental housing

High Art Capital has launched its GTA Rental and Affordable Housing Initiative, a $1.3 billion fund created to acquire blocks of new, unsold condominiums across the Greater Toronto Area for conversion into long-term rental housing.

Bear Mountain development sold for $141M

Groundplay Developments, whose principal Dan Matthews was one of the Bear Mountain partners before it was forced into receivership, has partnered with global investment firm Tiga to pay more than $141M for the B.C. resort.

Inside Amazon’s swanky new office space in Vancouver

Amazon is expanding again at The Post, the redeveloped former Canada Post facility in downtown Vancouver. On March 30, more than 1,000 employees began moving into the North Tower – the newest addition to the Vancouver tech hub.  

Sienna completes $59.4M acquisition in Oshawa

Sienna Senior Living (SIA-T) has completed its previously disclosed acquisition of The Bartlett, a 129-suite independent living retirement residence in Oshawa. The property was acquired for a gross purchase price of $59.4 million, approximately $461,000 per suite.

In real estate, what is 'luxury'? (And who gets to define it?)

“Luxury” is one of the most overused terms in real estate – a verbal coat of gold paint applied to anything with a high ceiling or large square footage (or not). Naturally, its definition is often subjective and relative. It’s also changing.

Why Canada's housing crisis is a productivity crisis, too

Canada’s lacklustre productivity growth is generally presented as an economic problem and its housing crisis is usually treated as a social problem. Those things are true, but there is also a deeper connection between the two.

Caivan’s Aura beats presales targets in slow market

The pre-sale inventory for Mississauga’s Aura Lakeview Village development has nearly sold out despite a slow, challenging housing market. Developer-builder Caivan and listing brokerage Rare Real Estate say it is proof their unconventional strategy is working.

Leamington rejects 14-storey waterfront condo proposal

Rezoning for a 14-storey condo development proposed for Leamington’s waterfront was rejected by council last week. The proposed waterfront highrise faced strong resident pushback, including numerous written letters and in-person delegations opposing the development.

Glut of new homes starts to unhinge the Alberta market

In the wake of a construction boom, townhouses have become a compelling alternative for young Calgary families. But a record number of completions has created a glut of unsold, new-build inventory at price points out of reach for first-time buyers.

Got $18M? You can buy Surrey lots for potential highrises

Surrounded by new highrise buildings in north Surrey, six assembled lots are up for court-ordered sale for $18 million. The assembled sites on 133A Street and 103A Avenue are a short distance from Surrey Memorial Hospital. 

Walmart is closing two stores in Quebec

Walmart is closing two locations in Quebec and employees will be redirected to other stores, Le Journal has learned. A spokesperson confirmed the decision to close the retail giant's Pointe-aux-Trembles and Côte-des-Neiges locations.

Court OKs Toys “R” Us bid to start sales process

The Ontario Superior Court granted Toys “R” Us Canada approval on Wednesday to conduct a bidding process to find last-minute buyers for its business and assets, including its intellectual property and leases.

Pandora opens distribution centre in Mississauga

The world’s largest jewellery brand has opened a new online distribution centre in Mississauga to reduce U.S. tariffs. Canada is one of Pandora’s fastest-growing markets and orders have until now been handled from distribution centres in the U.S.

Real estate podcasts

Carl Gomez, Centurion: Is the real estate reset stalled? CRE Podcast
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Ares raises $5.4 billion for U.S. and Europe value-add strategies

Ares Management Corporation, the global alternative investment manager, has raised approximately US$5.4 billion of capital, including via equity commitments and related transaction vehicles, to invest in value-add real estate opportunities across the United States and Europe.

Boston office development surges, visits still lag

Boston’s under-construction pipeline remained in the spotlight through the beginning of the year. With more than 4.1M sq. ft. under way as of January, the metro’s pipeline ranked first nationally, according to Yardi Matrix data. 

Retail leases 'too complicated' for commercial rent control

As state legislators consider limits on commercial rent increases in NYC — a measure that would mirror the existing rent stabilization law that covers one million apartments — retail landlords are skeptical the idea can be translated from housing to storefronts.

New lifelines for empty retail anchor spaces

The United States is witnessing the “great mall sorting,” the realignment of high-performing class-A malls that are thriving and investing in new strategies and the decline in class-B and -C malls. 

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