CRE investment in ‘unpredictable’ times: Experts speak

RENX  Commercial  •  Investment  •  National

The Canadian commercial real estate industry experienced record trading volumes the past three years, though the mood of the market seemed to darken somewhat in late 2018. Five executives discussed their investment expectations during a panel at the Real Capital conference.

Brivia Group, Tianqing Group break ground on Quinzecent

Residential  •  Canada Newswire

Kheng Ly, president and chief executive officer of Brivia Group, Montréal’s fast-growing property developer and investor, and the Tianqing Group held a ground-breaking ceremony marking the start of construction of the QuinzeCent.

MPA, LOGISTEC boosting Port of Montreal container capacity

Commercial  •  Canada Newswire

The Montreal Port Authority (MPA) and LOGISTEC Corporation announced Viau Terminal, which handles about 350,000 containers annually, will undergo a new construction phase to increase its handling capacity. This new phase will increase the capacity to 600,000 TEUs.

Faster networks, smarter buildings to transform cities

Residential, Commercial  •  Vancouver Sun  •  Construct Connect  •  Ottawa Business Journal

EllisDon construction executive Jeff Hansen-Carlson gestures toward his data chart on a big screen that depicts various industries and their adoption of new technologies, or lack thereof. “Smart cities are coming, whether we like it or not,” said Hansen-Carlson.

Canadian cities appreciate budget’s $2.2 billion bump

Residential  •  CBC

VIDEO: Canadian municipalities saw a $2.2 billion jump in federal funding in the 2019 budget. Cities welcomed the funding bump, some provincial governments did not.

The Saskatchewan Edge › High-density spot zoning can create homeowner hardship

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Ottawa would go to court to keep golf course in Kanata

Residential, Commercial  •  CBC

The City of Ottawa is making it clear to Clublink, the owners of Kanata Golf and Country Club, that it will explore legal options to prevent the course’s redevelopment into housing.

Baltimore sues Stronach Group over storied track

Commercial  •  Financial Post  •  Winnipeg Free Press

The City of Baltimore has filed a lawsuit seeking to seize control of one of the Stronach Group’s signature horse-racing tracks, alleging the Canadian firm has underinvested in the facility and may be trying to move the Preakness Stakes.

Conference Board lowers growth projection for 2019

Commercial  •  Canada Newswire

The Canadian economy is expected to grow by just 1.4 per cent in 2019, according to The Conference Board of Canada.  According to the Conference Board’s National Economics Team, the Federal Budget released Tuesday, is unlikely to affect the economic outlook.

Top five tenant issues in a commercial lease

Commercial  •  Mondaq

The GTA may seem like an impenetrable landlord’s market for tenants looking for space, but, a savvy tenant can still negotiate some key elements into their office lease to rein in rental costs and exert control over rental cost increases.

Vancouver CRE sales down year-over-year: REBGV

Commercial  •  Western Investor

The Real Estate Board of Greater Vancouver (REBGV) reports fewer commercial real estate sales and lower transaction dollar value in 2018 compared to recent record-breaking years. It calls the statistics a result of decline in demand, rather than simply less availability.

Convene replaces Saks at Manhattan’s Brookfield Place

Commercial  •  The Real Deal  •  Bloomberg  •  MarketWatch

The retail space that once housed Saks Fifth Avenue’s (HBC-T) mannequins and racks of clothes at Brookfield Place will gave way to massive conference rooms and meeting spaces. Convene, the flexible office space firm, will anchor Brookfield Property’s eponymous plaza.

KKR raising first Asia RE fund, targeting $1.5B

Commercial  •  Reuters  •  livemint

Global investment powerhouse KKR & Co Inc. is raising its first Asia-focused real estate fund, targeting $1.5 billion US as it looks to deepen its real estate portfolio in the region, said sources.

Investors snap up India’s Embassy Office Parks REIT

Commercial  •  Reuters  •  Bloomberg

Embassy Office Parks REIT’s $917.6 million Cdn initial public offering, the first by a REIT in India, was oversubscribed on the last day of sale on Wednesday. The company is is a joint venture between India’s Embassy Group and U.S.-based Blackstone.

U.S. REIT targets $1.5B to deploy in senior housing

Residential, Commercial  •  Senior Housing News  •  Skilled Nursing News

A new REIT, White Oak Healthcare, is looking to invest $500 million in a mix of senior living and skilled nursing assets. That will equate to about $1.5 billion with leverage factored in, said chief investment officer Jeff Erhardt.

REIT financial results:

Commercial  • 

Lanesborough REIT, (LRT-UN-X), Canada Newswire

$1M-plus Vancouver condo sales plunge 66 per cent: Sotheby’s

Residential  •  Business In Vancouver  •  Newinhomes.com  •  Globe Newswire

Sales of Vancouver condos above $1 million have plummeted by 66% year over year, according to a report by Sotheby’s International Realty Canada. Just 86 condos sold at above $1 million in the city during the first two months of 2019, compared with 254 year-over-year.

Port Coquitlam takes action on ‘predatory’ renovictions

Residential  •  Tri-City News

Tenants of Port Coquitlam rental homes will be able to return to their renovated suites and still pay the same price as when they left. The proposed policy will go before PoCo city council next Tuesday.

New measures could mute home sales until fall: RBC

Residential  •  Bloomberg  •  Bloomberg  •  Globe and Mail (Subscription required)

New measures for first-time homebuyers could keep Canada’s housing market at cooler levels until autumn, according to a RBC report. The measures don’t come into effect until fall, meaning some might hold off until they can take advantage.

Dirty money driving up Toronto prices: Report

Residential  •  Toronto Star  •  Globe and Mail

Toronto’s real-estate market welcomes criminals, giving them an easy way to invest dirty money and driving up housing prices for regular people, according to a report published today by Transparency International Canada.