The multifamily sector is playing a larger role in Canadian commercial real estate transactions and Montreal is surpassing Toronto for deal volume. Those were two of the revelations at the Sept. 4 Canadian Apartment Investment Conference in Toronto.
Ventas Inc. (VTR-N) announced it has completed its 87 per cent acquisition of a class-A portfolio of apartment-like senior housing assets in Quebec through an equity partnership with Quebec’s Le Groupe Maurice (LGM). The portfolio is valued at $2.38 billion Cdn.
Perimeter Development Corporation was launched in Toronto in 2010, but the company has really established itself since moving down Highway 401 to Kitchener. “It was a pretty easy choice,” Perimeter’s Craig Beattie said. “We’ve always been pretty bullish on this market.”
Proposals to allow new multi-residential development in the CF Polo Park area were given a boost Wednesday, despite continued opposition from the Winnipeg Airports Authority. City councillors voted 3-1 to send the proposals to a public hearing.
The long-delayed redevelopment of Stadium Shopping Centre in northwest Calgary could soon be underway. Developer Western Securities says it’s faced a myriad of setbacks, including tariffs on materials, higher than expected construction costs as well as daunting office vacancy rates.
Craig Patterson, a Canadian retail consultant and editor-in-chief of Retail Insider, recently shared his list of four of the most successful restaurant chains either expanding their Canadian footprint or are poised to set up shop. In-N-Out made the list.
Investors may be turning to gold and silver as a safe haven amidst international trade woes, but the digital economy remains unburdened by such fears of global disarray.
Marriott International has signed an agreement with Larco to bring W Hotels’ brand to Toronto for the first time. The $40-million design transformation began in July and he property is expected to open as W Toronto next summer.
Burnaby Hospital is getting a $1.3-billion redevelopment, including two new towers and a new, expanded emergency department. The project will see 400 new beds added to the facility, along with a new cancer treatment centre.
On Aug. 22, executive chairman of the board of trustees and Minto Apartment REIT’s (MI-UN-T) former CEO Roger Greenberg invested nearly $1 million in units of the REIT. He acquired 43,450 units at a cost per unit of $22.9998, initiating a portfolio position.
RioCan and SmartCentres look attractive on most safety and value metrics. Northwest Healthcare Properties scores well for value and income, but is also the most levered name on our list; Allied Properties the least levered. Artis boasts the best value.
REIT stocks have a proven history of enduring a recession or slowing economic growth. Morguard (MRT-UN-T), True North Commercial (TNT-UN-T) and Slate Office (SOT-UN-T) REITs will relieve you of those worries.
Sam Zell, who amassed a nearly $6 billion fortune with roots in CRE, is slamming WeWork, the office-sharing firm that’s widely expected to go public as early as this month. WeWork is not doing anything new Zell said on Wednesday.
The credit investment arm of Canada Pension Plan Investment Board (CPPIB) has committed $238 million Cdn to Harbor Group International’s (HGI) Freddie Mac structured debt investment platform.
A closed-end value-added fund managed by TA Realty has, in two separate transactions, sold a 96-property U.S. logistics portfolio worth $1.04 billion US to AEW Capital Management and Blackstone.
Something different has been happening in the condo presale market: all but one of the 39 projects that launched sales in the second quarter of 2019 did so with nearly complete site-plan approvals and permissions, according to market research firm Urbanation Inc.
The maximum allowable annual rent increase for B.C. has been set at 2.6 per cent for 2020. It’s not as high as it’s previously been: next year marks the second year new provincial regulations limit the increase to the cost of inflation.
CEO Victor Dodig admits CIBC may have retreated too far from the domestic mortgage market. “Candidly, I think we went too far left in slowing things down, put the brakes on too hard, and we’re re-adjusting for that,” Dodig said.
Home sales rose in Toronto and Vancouver last month as buyers returned to the market in Canada’s two most expensive cities, signalling that many Canadians are adapting to the country’s tougher mortgage stress-test rules.
The notion is simple enough: Do away with single-family zoning restrictions in big cities. Bid goodbye to the two-storey family house. Say hello to much denser development, centred on three- to six-storey townhouses, condos and rental apartments.