LocationsRecent Articles
QMLP sticks to its strategy, expands multifamily portfolio
QMLP sticks to its strategy, expands multifamily portfolio
Q Management LP was involved in selling Continuum Residential Real Estate Investment Trust’s $1.73-billion multi-residential portfolio to Starlight Investments in late 2019, as well as two of the 10 largest commercial real estate transactions in the Greater Toronto Area last year.
Slate Asset plans Burnaby office/retail complex
Slate Asset Management is betting on an economic recovery and a return to offices as vaccines roll out, marketing plans for a 220,000-square-foot complex to be built in Burnaby. Capital Point would comprise a mix of office and retail space.
Balzac’s High Plains Industrial Park expanding
• Calgary Herald • RENX
Highfield Investment Group‘s High Plains Industrial Park in Balzac – already comprising five million square feet of industrial space – is expanding with the acquisition of another 298 acres immediately to the east of the park, strategically positioning it for future growth.
Crestpoint acquires Edmonton’s Northport Business Park
Crestpoint Real Estate Investments Ltd. continued its early 2021 acquisition spree, announcing Wednesday it has acquired the Northport Business Park in Edmonton. Northport is a class-A, new-generation warehousing and distribution complex located in northwest Edmonton.
Allied giving Vancouver’s Sun Tower $5M facelift
• Vancouver Sun • RENX
Allied Properties REIT‘s (AP-UN-T) 17-storey Sun Tower is receiving a $5-million renovation including masonry work, terracotta preservation and seismic upgrades. Its 76,000-plus square feet of office and 1,670 square feet of retail space will be available for lease on June 1.
Ottawa pledges additional $14.9B for transit
• CBC • Edmonton Journal • Toronto Star
Prime Minister Justin Trudeau announced plans for the federal government to spend an additional $14.9 billion over the next eight years on public transportation projects across the country. The funding includes $5.9 billion in short-term funding to be disbursed starting this year.
Quebec pledges support for airport REM station
Quebec’s provincial government says it is ready to contribute to the financial package requested by Aéroports de Montréal (ADM) for construction of the Réseau express métropolitain (REM) station at Pierre-Elliott-Trudeau International Airport. The project is valued at $600 million.
IKEA Canada net positive for energy consumption
Retail giant IKEA hit two major sustainability milestones during 2020, in Canada and around the world. The global furniture and housewares retailer announced it had generated four times the amount of renewable energy it consumed in Canada.
Port of Prince Rupert could soon trump Montreal
• Western Investor • La Presse
After posting a record-breaking year for cargo volume the Prince Rupert Port Authority already has its eyes set on another good year in 2021, with an even bigger milestone just beyond the horizon: passing Montreal to become Canada’s second-largest port.
Netflix plans to open an office in Canada
Netflix plans to open an office in Canada in what the streaming giant calls “a big first step” toward content creation in this country. Netflix co-CEO and chief content officer Ted Sarandos says the company is considering Toronto and Vancouver.
Cineplex reports $230M loss as theatres close
• Toronto Star • Globe and Mail (Sub. required)
Cineplex Inc. (CGX-T) reported a fourth-quarter loss of $230.4 million as restrictions to slow the spread of the pandemic were tightened and theatres closed. The loss compared with a profit of $3.5 million in Q4 2019.
REIT fourth-quarter financial results
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Choice Properties REIT, (CHP-UN-T), Canada Newswire
First Capital REIT, (FCR-UN-T), Canada Newswire
Killam Apartment REIT, (KMP-UN-T), Canada Newswire
RioCan REIT, (REI-UN-T), Globe Newswire
SmartCentres REIT, (SRU-UN-T), Globe Newswire
Simon continues handing back struggling malls
• Bisnow
Last week, Simon relinquished its ownership of an Atlanta mall in a foreclosure auction that saw no bids. This week, Simon is over 60 days delinquent on an $85.6M loan backing a Boston-area mall for the second time in four months.
U.S. CRE outlook brightens: Report
The last three months of 2020 brought a new sense of optimism about the future of U.S. commercial real estate finance, as indicated by the CRE Finance Council’s Fourth-Quarter 2020 CREFC Board of Governors’ Sentiment Index.
Demand for U.S. vacation homes soared 84% YOY
Mortgage applications for second homes soared 84% year-over-year in January, according to a new report from Redfin. While that’s down from a peak 118% year-over-year increase in September, it marks the eighth straight month of 80%-plus year-over-year growth.
New ‘future city’ to rise in southwest China
• CNN
A new “future city” is set to spring up in China, featuring an urban design intended to combine industry and technology with the pastoral beauty of the countryside. The 4.6-square-mile site will include multiple new universities, laboratories and offices.
Alignvest, Patrick Miksa create Academic Assets
Alignvest Student Housing announced the launch of Academic Assets in partnership with Patrick Miksa. Academic Assets is a real estate development vehicle which will focus on the purpose-built student accommodation and ancillary asset classes serving students and higher education institutions.
Montreal’s apartment stock is changing
Fewer duplexes, fewer large housing units, more units in large downtown rental towers with high rents: the Montreal apartment stock is changing, but not without creating pressure on the Plateau-Mont rental market -Royal, de Rosemont and Hochelaga-Maisonneuve.
Canada could see a ‘rural boom’ due to remote work
Long after the pandemic is over, employees at flexible workplaces could see more opportunities to work from home, sparking a potential decline in urban living and a “rural boom” instead, says the Brookfield Institute for Innovation and Entrepreneurship.
Hot housing market golden ticket to downsizing boomers
• Globe and Mail (Sub. required) • Globe and Mail (Sub. required)
According to Toronto realtor Keisha Telfer, boomers have a unique opportunity because their homes are in demand. “COVID has created a trend where young families are looking for three- and four-bedroom homes to raise their families,” said Telfer.
Industry Events
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Western Canada Apartment Investment Conference
May 07 2024
Vancouver
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Edmonton Real Estate Forum
May 08 2024
Edmonton Convention Centre
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Land & Development Conference
May 28 2024
Metro Toronto Convention Centre
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Montreal Real Estate Forum
Jun 06 2024
Montreal
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Southwestern Ont. Real Estate Forum
Jun 13 2024
RBC Place London
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