Nexus REIT adds new properties, continues ‘patient’ growth

RENX  Commercial  •  Office, Industrial, Retail  •  National

Nexus REIT completed $91.5 million in acquisitions last year and has already added a new portfolio in 2019, continuing the steady growth since it was created in April 2017 through the merger of Edgefront REIT and Nobel REIT.

Canmore developer builds Spring Creek on family farm

RENX  Residential, Commercial  •  Hotels and Resorts, Homes  •  Alberta

The Spring Creek community in Canmore has become one of the most desirable developments in the Alberta mountain resort area. For its developer, Frank Kernick, the majestic land is close to his heart because he grew up on it.

Canada’s major cities see surging population growth

Residential  •  Construction Canada

To the benefit of economic growth and construction activity, Canada has an ace up its sleeve, an extraordinarily rapid rate of population advance. Canada’s population is climbing by 1.4 per cent per annum, a gain of more than half a million.

Vancouver’s CRE market stabilizing: AY

Commercial  •  Vancouver Sun

A lengthy period of runaway speculation in B.C.’s commercial property investment market has come to an end, with more modest economic fundamentals now driving purchases, according to Avison Young’s 2018 year-end figures.

Corporate RE outsourcing sector changing: AY

Commercial  •  Canada Newswire

The decision-making process for corporate real estate outsourcing has become increasingly dynamic according to Avison Young’s white paper: Shifting Gears: Corporate Occupants Re-evaluate Real Estate Outsourcing Models, released Tuesday.

The Apartments Broker › The siren call of an all-cash building purchase offer

Ramona Ursu: Partner and Broker at Baron Realty

Calgary’s CF Market Mall attracts Keg, Poppy Barley

Commercial  •  Calgary Herald

Construction of Calgary’s sixth Keg Steakhouse & Bar is underway at CF Market Mall, Calgary’s second-largest mall after CF Chinook Centre. The 9,500-square-foot restaurant will be joined by Poppy Barley‘s  first Calgary store.

Amazon’s largest Vancouver office draws optimism, worry

Commercial  •  Mortgage Broker News

The redevelopment of downtown Vancouver’s old Canada Post building into a new high-tech office space has invited both celebration and trepidation. Some observers have warned the upward spike in higher-salary jobs will actually harm the city’s start-up scene.

Work underway at Mississauga’s M City site

Residential, Commercial  •  Urban Toronto  •  RENX

The Mississauga City Centre skyline is about to grow taller as work progresses on the first two towers of the M City community from Rogers Real Estate Development Ltd. and Urban Capital.

Sidewalk not walking away from Quayside project: CEO

Residential  •  Toronto Star  •  Toronto Star

Sidewalk Labs’ bid to create a data-driven neighbourhood along Toronto’s waterfront is by no means a “moon shot,” insists Dan Doctoroff, the CEO of the American firm behind the proposal.

Lansdowne Park looking for year-round programming

Commercial  •  Ottawa Business Journal  •  CBC

After shelling out tens of millions more than it anticipated to rejuvenate the Lansdowne Park football stadium and hockey arena, Ottawa Sports and Entertainment Group is seeking new ways to increase attendance at the sports and retail hub.

HBC sales hurt by price-cutting that went ‘too far’: CEO

Commercial  •  Globe and Mail (Subscription required)  •  Financial Post

Hudson’s Bay Co. (HBC-T) lost out on sales in its fourth quarter at its namesake chain because it lowered prices too much to try to draw former customers of the failed Sears Canada Inc., CEO Helena Foulkes said Wednesday.

BMO to move NYC HQ to former Conde Nast building

Commercial  •  Bloomberg

The Bank of Montreal has signed a 15-year lease for six floors at 151 W. 42nd St., the Times Square skyscraper that used to house publisher Conde Nast. The bank’s capital-markets division will take over 215,056 square feet of the 1.8 million-square-foot property.

Strong U.S. CRE fundamentals amid risk concerns: Survey

Commercial  •  Canada Newswire

AFIRE’s annual U.S. real estate investor survey points to a strong overall market outlook, with a growing focus on risks ranging from geopolitical, to economic, to climate change. Investors generally remain confident in continued capital inflow to U.S. real estate.

U.S. health care REITs outperform

Commercial  •  CP Executive

The health care REIT sector posted the highest one-year average dividend yield at 5.83 per cent, outperforming the broader SNL U.S. REIT Equity Index by 1.78 percentage points. Diversified and hotel REITs followed at 5.24 and 5.08 per cent one-year average dividend yields, respectively.

U.S. MOB sector remains red hot

Commercial  •  PR Newswire

Considered one of the best bets in U.S. investments, the medical office building (MOB) sector remains healthy as a result of an industry trend to lower healthcare property operating costs and other factors driving demand for these facilities.

TC United pitches nine-storey Ottawa apartment building

Residential  •  Ottawa Business Journal

Ottawa developer TC United Group wants to build a nine-storey apartment building in Sandy Hill that would house 191 residential rental units, according to a site plan recently filed with the city.

Developer tables plan for Edmonton apartments

Residential  •  CBC

Local developer Gina Xiu Ling Cai is hoping to transform a series of properties across from Stadium LRT, once owned by an infamous Edmonton landlord, into a six-storey apartment building.

Housing market ‘healthier than some people think’: BMO CEO

Residential  •  Financial Post  •  CP 24

The Bank of Montreal CEO suggested to shareholders on Tuesday the lender is eyeing further growth in the U.S., even as he swatted away concerns about the possibility of recession and the health of the housing market in Canada.

Vancouver misses housing targets for middle

Residential  •  Vancouver Sun  •  CBC  •  Vancouver Courier

Vancouver has created, a city news release announced Tuesday, a “record number of new homes” in the last two years. However, when it comes to certain kinds of homes, the city lags behind its own targets.