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Three years in: Artis REIT CEO addresses priorities
Three years in: Artis REIT CEO addresses priorities
Three years after being installed as president and CEO of Artis REIT (AX-UN-T) and announcing a “bold, pioneering and truly unique vision,” Samir Manji has issued his annual letter to unitholders to outline where things stand and where they’re going.
GTA CRE investment volume back on the rise in Q4
Total commercial real estate investment volume in the Greater Toronto Area was $4.6 billion in Q4 2023, up from $4.1 billion in the previous quarter and $3.8 billion a year earlier.
TPG seeks to buy CAPREIT's manufactured housing: Report
Alternative asset manager TPG is in exclusive discussions to acquire the manufactured housing business of Canadian Apartment Properties REIT (CAPREIT) (CRT-UN-T) for more than $700 million in a move to gain exposure to a historically tight real estate market.
Manulife faces 40% decline in some U.S. office investments
Manulife Financial Corp. is facing a divided global office market, with the value of its U.S. office investments having plummeted by as much as 40 per cent from a pre-pandemic peak, according to chief financial officer Colin Simpson.
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Vancouver condo site for sale after missed payments
A court has ordered the sale of a condo project site in Vancouver’s West End because Vancouver-based developer Align Properties owes more than $37 million to lenders and has defaulted on loan payments.
Cambridge reduces number, height of proposed towers
Cambridge council has passed a motion to reduce the height - from 26 to 15 storeys - and number of towers - from three to two - of a proposed residential development. The residential units will be reduced from 753 to approximately 640.
Bank of Canada sees conditions for rate cuts in 2024
The Bank of Canada’s governing council believes it will be appropriate to cut interest rates this year if the economy develops as expected, although there is disagreement among members on the likely timeline, according to a summary of discussions.
Metro shuttering Ottawa distribution centre
Metro Inc. will shutter its Ottawa produce distribution centre on Old Innes Road on May 11 as part of a major facility modernization. Metro announced the opening of an automatized distribution centre in Terrebonne, Que., last year.
Neighbourly announces closing of take-private transaction
Neighbourly Pharmacy Inc. (NBLY-T), Canada's largest and fastest-growing network of independent pharmacies, announced the closing of the previously announced plan of arrangement to be taken private by Persistence Capital Partners.
Li-Cycle seeks restart on Rochester Hub after 2023 troubles
Li-Cycle Holdings Corp.’s (LICY-N) management believes the company is back on track thanks to a $101-million investment from Glencore, progress on the strategic review of its beleaguered Rochester Hub, and strong production of recycled battery materials.
Vancouver appoints chief planner after six-month vacancy
Josh White will be taking on the role of Vancouver's general manager of planning, urban design and sustainability (PDS) following the September 2023 departure of Theresa O’Donnell. She also served as the director of planning.
3 major CRE investors launching nontraded REITs
ElmTree Funds, Fortress Investment Group and Morgan Stanley are in various stages of ramp-ups to sell stock in newly created REITs not linked to the larger market. The companies' new REITs will likely centre their investments on industrial properties.
Short sellers again up their wagers against CRE
Pressure at regional banks, a continuing downturn in U.S. office prices and elevated interest rates have money managers piling back into bearish wagers on one of their favourite sectors: commercial property.
$1B Hollywood Star to rise on Sunset Boulevard
This Hollywood star is getting a makeover even before its debut. Dubbed The Star, a $1 billion, 22-storey creative office tower is set for a two-acre lot at 6061 W. Sunset Blvd. in Los Angeles.
U.S. multifamily loan losses spike
While much of the concern over commercial real estate distress has focused on the office market, MSCI’s U.S. Capital Trends report shows multifamily loans saw the biggest spike in losses last year.
Federal Reserve holds rates steady for now
The Federal Open Market Committee on Wednesday didn't budge on interest rates, noting it “does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%."
Asia’s thriving office sector short of investors
While Asia’s office markets have been less affected by the pandemic-induced shift to hybrid working, investment activity in the sector has fallen sharply. Transaction volumes last year were 52 per cent below their average level in 2020-'22.
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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