Dream Ind. expands portfolio; gets BBB rating from DBRS

RENX  Commercial  •  Industrial, Investment  •  International, Toronto / GTA

Dream Industrial REIT (DIR-UN-T) has released a series of updates this week reporting $188 million in closed and pending acquisitions, 1.3 million square feet of leasing activity, and its first financial rating from DBRS Morningstar – BBB with stable trend.

Richardson to lease 85K sq. ft. in 100 Queens Quay East

Commercial  •  Canada Newswire  •  RENX

Menkes Developments announced 100 Queens Quay East will be the new home of Richardson GMP Limited. Richardson GMP will occupy three floors (approximately 85,000 square feet) of prime office space in the 25-storey landmark building on Toronto’s waterfront.

Ont. moves to protect businesses from COVID lawsuits

Commercial  •  Toronto Star  •  Financial Post  •  Financial Post

Ontario retailers and restaurants are breathing a sigh of relief. On Tuesday, Attorney General Doug Downey introduced legislation to protect businesses and their employees from COVID-19 lawsuits, providing they could prove they made an “honest effort” to follow the rules.

Armour Heights plans 35 ‘homes in the sky’ in Yorkville

RENX  Residential  •  Condominiums  •  Toronto / GTA

Armour Heights Developments started by building custom homes in Toronto and, 39 years later, president Frank Mazzotta says his company is “going to build 35 custom homes in the sky.” He’s referring to 89 Avenue Yorkville, a property formerly occupied by two hotels.

TCU targets transit users with new Ottawa mid-rise

Residential, Commercial  •  Ottawa Business Journal

In another sign of a trend toward transit-oriented development, TCU Development Corp. has unveiled plans for a mixed-use building between the St. Laurent and Cyrville LRT stations that would have enough parking for nearly 120 bicycles and six spots for cars.

Winnipeg’s Kapyong plan reduces housing density

Residential, Commercial  •  Winnipeg Free Press  •  Global News

First Nations developers have taken local feedback into a new concept plan for the former Kapyong barracks lands, adding green space, lowering residential density and adding schools and stores. The development of the lands has been a complex 17-year process.

The People Space › People Space: Dream, JLL, Forum, CBRE add execs …

Don Wilcox: Managing Editor

Investor ‘disappeared’, Victoria golf course for sale again

Commercial  •  Victoria Times Colonist

For the second time in three years, the Glen Meadows Golf and Country Club is on the market. The Criddle family has again listed the 132-acre property after B.C. Supreme Court ruled a 2017 sale was not completed.

Ontario invests $550M to build and upgrade schools

Commercial  •  Ontario government media release  •  Ottawa Citizen

The Ontario government is investing $550 million to build 20 new schools and eight permanent school additions across the province in 2020-’21. These new projects will create nearly 16,000 new student learning spaces and 870 new licensed child care spaces.

Canadian resorts counting on local skiers

Commercial  •  Reuters  •  CBC  •  Winnipeg Free Press

As Canada’s world-class ski resorts brace of a winter without international tourists due to closed borders, many are betting that locals eager to get onto the slopes will help make up for the lost revenues for the resorts.

Flagship’s aggregate gross IPO proceeds US$107M

Commercial  •  Canada Newswire

Flagship Communities REIT (MHC-U-T) announced today that, in connection with the IPO of trust units, the over-allotment option was exercised in full, generating additional gross proceeds to the REIT of US$14,062,500 increasing aggregate gross IPO proceeds to US$107,812,500.

TransLink CEO Kevin Desmond departing in 2021

Commercial  •  Globe and Mail  •  Vancouver Sun  •  CBC

Kevin Desmond, who ran British Columbia’s TransLink during one of the most successful periods in the history of the regional transportation agency has announced he’s going back to the U.S. Desmond took over as chief executive officer in 2015.

Sun Life to acquire majority stake in Crescent

Commercial  •  Globe Newswire  •  Globe and Mail  •  RENX

Sun Life Financial Inc.  (SLF-T) announced it intends to acquire a majority stake in Los Angeles-headquartered Crescent Capital Group, a global alternative credit investment manager with approximately $38 billion in assets under management and New York, Boston and London offices.

AY deploys Trimble modules to support return to office

Commercial  •  PR Newswire  •  RENX

Trimble (TRMB-Q) announced Avison Young, a global real estate advisor, has deployed the FlexiDesk and Mobile Booking modules of Trimble’s ManhattanONE software suite to support its return-to-office strategy in the U.K.

Fengate acquires Freeport Energy Center from Calpine

Commercial  •  PR Newswire

Fengate Asset Management announced it has achieved financial close on the acquisition of the Freeport Energy Center from Calpine Corporation.  Freeport Energy Center is a 260-MW natural gas-fired, combined-cycle cogeneration power plant located in Freeport, Texas.

World’s tallest buildings aren’t being built in the U.S. anymore

Commercial  •  ArchDaily

Trends show the U.S. is falling out of the spotlight in terms of being able to claim the title of world’s tallest building, and the drawing boards show that no American city will be reclaiming this title any time soon.

CMHC forecast ‘no longer relevant’: Economists

Residential  •  Toronto Storeys

Several Canadian economists say they don’t believe the Canadian property market will fall as far as what was initially forecast this year in regards to the Canadian Mortgage and Housing Corporation’s previous property forecast of up to a 18% price drop.

First-time homebuyers favour fixed-rate mortgages: BMO

Residential  •  Canada Newswire  •  Canada Newswire  •  Canada Newswire

With households facing more cost uncertainty as a result of the pandemic, 57 per cent of first-time homebuyers indicate that they will opt for a fixed-rate mortgage, according to BMO‘s latest release on the housing market.

Smaller markets fuel Ontario’s ‘crazy’ housing gains

Residential  •  Globe and Mail (Sub. required)

John Lusink, president of Right at Home Realty, which has 12 branches around Ontario, posted record sales in September after a very strong summer. The hottest areas at his firm are smaller cities such as Barrie, Ottawa and Burlington.

Mattamy Homes expanding North Phoenix presence

Residential  •  PR Newswire

Mattamy Homes announced it has acquired a sought-after property in north Phoenix known as Sendero Crossing. The 55-acre piece of property is zoned for 170 homesites. Mattamy purchased the property from Desert Hills 160 LLC (El Dorado Holdings) for $4.56 million.