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PUR launches Le Bosco into 'vigorous' Montreal rental market
PUR launches Le Bosco into 'vigorous' Montreal rental market
PUR Immobilia could do more to respond to Montreal’s strong demand for rental housing if the wheels of bureacracy would grind faster, says founder Philippe Bernard. The developer is launching Le Bosco, and has several other projects in its pipeline.
Northwest announces $885 million sale of U.K. portfolio
Toronto-based Northwest Healthcare Properties REIT (NWH-UN-T) has sold its U.K. portfolio to Assura PLC for $885 million, of which 80 per cent was paid in cash with the remainder paid in shares of Assura valued at $177 million.
Industrial projects in B.C.'s Southern Interior boost options
Demand for industrial space in B.C.’s Southern Interior has developers breaking ground in new communities. This month marks the launch of Avery Business Park in Okanagan Falls, a 114-acre project on the former Weyerhaeuser mill site.
Pattison's warehouse replaces mall proposal in Scarborough
Lesso mall, planned for Scarborough, has been scrapped following a 95-year-old billionaire’s purchase of the site. A revised plan for a one-storey distribution centre and warehouse complex with 35,752 square metres of space has been proposed in its place.
480-room military housing project announced for B.C.
British Columbia’s CFB Esquimalt will be the site of a new 480-room military housing project, announced yesterday. The new, $165M modern highrise building will provide single-occupancy rooms, coffee shops, postal services and a dining area for 700 people.
Port Moody project under receivership over $13M debt
The Bayrock Terrace project was being developed by Aultrust Financial and was planned for 3000 Henry Street in Port Moody. The mortgaged lands the project was planned on consist of four parcels with a total valuation of $9,770,000.
U.S. partner invests $170M in Saskatoon's arena project
Saskatoon reached a tentative deal with a private partner to help fund the plan for a new arena and convention centre downtown. Denver-based OVG360, will manage the new facilities and fork over $170M to the city over 25 years.
Deep Sky to build carbon removal test site in Alberta
Deep Sky has chosen Innisfail, Alta. to host a test facility for carbon removal technologies toward eventual commercialization, said to be a world first. Deep Sky Labs will be set on five acres of a clean energy industrial park.
Double-digit rent hikes hit smaller markets, major cities dip
Rents are still rising but the year-over-year pace has slowed, according to a new report. Data from Rentals.ca and Urbanation says asking rents for all residential property types averaged $2,201 in July, up 5.9 per cent from 2023.
GTA home sales ticking downward as interest rate drops
Toronto Regional Real Estate Board said home sales in July were up from last year but down from June, despite a jump in listings. The board said 5,391 homes sold in July, down about 13 per cent from June.
Canadian Tire profit up from year ago, revenue edges lower
Canadian Tire (CTC-T) reported its second-quarter profit rose compared with a year ago as its revenue edged lower. The retailer says it earned a profit attributable to shareholders of $198.8 million or $3.56 per diluted share for Q2.
Tim Hortons parent company's sales hurt by restaurant slump
Restaurant Brands International (QSR-T) sales grew less than anticipated in the second quarter, the latest sign of consumer malaise hitting restaurants. A stronger-than-foreseen showing for Tim Hortons’ Canada business couldn’t offset unexpected weakness in the rest of the operation.
Halifax-based Emera sells U.S. utilities asset for $1.7B
Emera (EMA-T) the parent company to Nova Scotia Power, has sold one of its American utilities for $1.7 billion. Emera announced the sale of New Mexico Gas Company to Bernhard Capital Partners, a private-equity firm based in Baton Rouge.
Brookfield Corp. profits up, AEL deal offsets RE losses
Brookfield Corp.’s (BN-T) earnings climbed in the second quarter, lifted by strong results in its wealth and insurance business, which offset a dip in real estate profits. The Toronto-based investment firm reported distributable earnings of $1.1 billion.
TPG to unleash $14B on buying top shelf real estate
Private equity titan TPG (TPG-Q) is gearing up to purchase top-shelf real estate assets, with $14B in dry powder across its real estate businesses ready to deploy. CEO John Winkelried said he expects a growing number of interesting opportunities.
Retail REITs boost outlooks amid strong leasing, rent growth
Inflation is still higher than the Federal Reserve chair would like, but that’s not keeping people from buying. The U.S.'s largest publicly traded owners of retail real estate are boosting their outlooks for the rest of the year.
Ares JV said to near $1 billion deal for Hyatt Regency Orlando
Hyatt Hotels is nearing the sale of a sprawling property in Orlando, Florida, according to people with knowledge of the matter. The lodging company is selling the Hyatt Regency Orlando to a joint-venture between Ares Management and Rida Development.
Derwent expects demand for top-tier London offices to grow
Derwent London Plc has upgraded its rent growth guidance for the second time this year as demand for the best office space outstrips supply. The London office landlord expects its estimated rental values to grow up to six per cent.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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