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Globe Capital Mgmt. in growth mode, buying apartment buildings
Globe Capital Mgmt. in growth mode, buying apt. buildings
Globe Capital Management is taking advantage of something of a lull in acquisitions by public and institutional multiresidential owners to grow its own portfolio. The Winnipeg-based firm is also actively developing properties, looking for building sites, and consolidating ownership.
15 towers planned to kick off Metropolis at Metrotown
Phase 1 of Ivanhoé Cambridge's master plan for Burnaby's 35-acre Metropolis at Metrotown site includes 15 buildings with 10,000 market units and 2,000 affordable rental units. Later phases of the redevelopment of B.C.’s biggest mall will come after 2054.
Vancouver developers advancing 'non-compliant' projects
An 18-storey rental apartment building proposed for 121 West 11th Ave. in Vancouver's Mount Pleasant is “non-compliant,” the sign says, as it “enters into a protected public view from Queen Elizabeth Park, which deviates from existing policy.”
H&R sells stake in Burnaby's Brian Canfield Centre bldg.
H&R REIT (HR-UN-T) has an agreement to sell its 50 per cent stake in the Brian Canfield Centre office building in Burnaby to its investment partner Crestpoint Real Estate Investments Ltd. for $82.5 million.
Vacant downtown offices can drag the economy down
OPINION: Office spaces from the 1990s often have the wrong design and lack the right amenities to be easily turned into housing. They’ll have to make the office a more desirable place to be.
Parkland shares jump as investor signals it’s open to a sale
Parkland Corp. (PKI-T) shares jumped more than five per cent on Monday as a war of words with its largest shareholder Simpson Oil Ltd. escalated and investors wagered that the gas-station and convenience-store operator could be a takeover target.
 | Colliers Canada Brokerage An expert look at investing in Toronto's industrial marketAsk the expert: Victor Cotic, Executive Vice President, Sales Representative | National Investment Services, Colliers Toronto Brokerage. Sponsored by: Colliers Canada Brokerage |
Walmart Canada reveals tech-focused flagship store
Walmart Canada has opened its newly renovated flagship in Mississauga, which includes a heavy focus on in-store tech and an expanded grocery offering. The 223,000-square-foot “Store of the Future,” is in the Square One Shopping Centre.
Anticipation builds, housing prices expected to rise
As anticipation builds that interest rates will begin to ease, Royal LePage is predicting housing prices will begin to rise much more steeply later in 2024 - and not surprisingly, the national realtor sees Toronto and Montreal leading the way.
Metro Vancouver sees record home construction: rennie
Construction began on a record number of homes in Metro Vancouver last year, at more than 33,000 — a 28% increase from 2022. This is one of the many findings reported in the Spring 2024 edition of the semi-annual rennie landscape.
QuadReal completes Toronto’s IMMIX rental project
QuadReal Property Group announced it has completed its IMMIX project in Toronto and occupancy is under way. The purpose-built rental residence is in the Yonge and College neighbourhood and offers 450 apartments along with retail and office spaces.
Stafford, Greybrook propose 65-storey mixed-use
A Stafford Homes/Greybrook Realty Partners proposal features a 65-storey mixed-use at 110 Adelaide St. E. in downtown Toronto. The Arcadis-designed tower would include 600 condo units, 4,306 square feet of retail and 3,552 square feet of office space.
Canada’s inflation rate rose to 2.9% in March
Canada’s annual inflation rate rose to 2.9 per cent in March on higher gasoline prices, says Statistics Canada. The figure met economists’ expectations of a slight rise from 2.8 per cent in February.
NAIOP Vancouver reveals finalists for 2024 CRE awards
Last week, NAIOP Vancouver revealed the finalists for its 2024 Commercial Real Estate Awards, a biennial event. This year's awards ceremony will be held on Wednesday, May 29 at the Rocky Mountaineer Vancouver Station.
Bruce Smith Enterprise JV plans $1.4B gaming district
Bruce Smith Enterprise and The Cordish Companies plan to co-develop a $1.4 billion Live! Gaming & Entertainment District, anchored by Live! Casino & Hotel Virginia in Petersburg, Va., at Wagner Road and Interstate I-95.
Medical Properties Trust sells majority stake In 5 hospitals
Medical Properties Trust sold its majority stake in five Utah hospitals. An undisclosed investment fund paid $886M for a 75% stake, forming a joint venture with Medical Properties Trust, which will maintain a 25% interest.
GM to move Detroit HQ to new downtown building
General Motors will move its Detroit headquarters to a new downtown office building next year and work to redevelop its iconic home along the Detroit River. The 12-storey office building is being built by the Bedrock real estate firm.
Dallas County CRE values up 21% year-over-year
Commercial properties in Dallas County are on average 21% more valuable today than they were a year ago — at least according to the central appraisal district. Preliminary values released this morning show double-digit increases across all asset types.
Minn. office towers could be torn down as vacancy stays above 30%
As employees relocate from Ameriprise Financial's longtime headquarters, what comes next for the tower will tell a lot about where downtown Minneapolis is going. A bleak possibility is being discussed for a handful of distressed downtown properties: Tearing them down.
Billions in Tokyo real estate lure activist hedge funds
The long-concealed market value of Tokyo’s tallest towers is being unveiled by activist investors. In Japan, there’s a huge gap between how companies value their CRE assets versus what those same properties would fetch if sold in the current market.
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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