CAPREIT buys 23 Canadian MHCs, CEO talks strategy

RENX  Commercial  •  Apartments, Homes  •  National

New CAPREIT (CAR-UN-T) CEO Mark Kenney isn’t wasting any time putting his stamp on the trust, announcing its second major purchase of manufactured homes communities in three weeks. The latest $182M acquisition includes 23 Canadian communities, comprising 3,469 pads, in five provinces.

Toronto’s iconic Park Hyatt hotel reimagined

Commercial  •  Globe and Mail  •  Canada Newswire

Oxford‘s landmark Park Hyatt hotel in Toronto’s upscale Yorkville neighbourhood will look very much the same from outside when a two-year rebuild is complete. However, inside everything will be fully modern and finished to high luxury standards.

Sunray Group buys Hockley Valley Resort, winery

RENX  Commercial  •  Hotels and Resorts  •  Toronto / GTA

Sunray Group has purchased Ontario’s 299-acre Hockley Valley Resort and Adamo Estate Winery from longtime owners the Adamo family. “Sunray became interested in the resort because of its unique offering and close proximity to Toronto,” president Kenny Gibson said.

Mont-Tremblant becomes second-home boom town

Residential  •  Montreal Gazette

It’s not just Montreal real estate that’s hot. After a decade of unremarkable sales in Mont-Tremblant, for example, today the resort town is buzzing with buyers — and a surge in construction to meet the demand.

Up to $750M to modernize Montreal’s Olympic Park

Commercial  •  La Presse

Modernizing Montreal’s Olympic Park will cost up to $ 750 million in 15 years, says RIO CEO Michel Labrecque. “We will … be between $500 and $750 million. Of course, these are important sums, but it’s a 15-year cycle,” Labrecque said in an interview.

The Saskatchewan Edge › Budgeting for success in Saskatchewan

Kelly Macsymic: Business Manager, B. Stuart P.C. Inc. , Sales Associate, ICR Commercial Real Estate

DHX Media selling Toronto building for $12 million

Commercial  •  Toronto Star  •  Canada Newswire

DHX Media (DHX-T) has signed a deal to sell a building in Toronto for $12 million. The children’s media company says the sale of the building on Bartley Drive is part of its ongoing effort to focus and streamline its operations.

Ottawa’s office vacancy rate drops to 7.5%: CBRE

Commercial  •  Ottawa Business Journal  •  Globe and Mail (Subscription required)

Space-hungry tenants snapped up a net total of more than 200,000 square feet of real estate in Ottawa’s red-hot office market in the first quarter of 2019, driving the local vacancy rate down half a percentage point to 7.5 per cent, CBRE said.

Winnipeg’s HBC offers opportunity to rethink future

Commercial  •  CBC  •  Globe and Mail (Subscription required)

Winnipeg’s downtown HBC building presents some challenges — but also a tremendous opportunity to rethink what “heritage” means in a post-colonial city. The challenges with the Portage Avenue building are obvious — at 650,000 square feet, it’s large and expensive to renovate.

Decades later, architect touts same site for Sask. arena

Commercial  •  Saskatoon StarPhoenix

Nearly 35 years ago, Saskatoon voters soundly rejected a proposal to build a new arena at a riverside location between Victoria Park and Idylwyld Drive. Okanagan architect Gary Marvin still thinks it represents the best location for a new arena.

Pure Multi-Family gets conditional OK for TSX listing

Residential, Commercial  •  Canada Newswire  •  RENX

Pure Multi-Family REIT LP (RUF-U-X) announced the Toronto Stock Exchange has conditionally approved the listing of Pure Multi-Family’s class-A units and 6.5 per cent convertible unsecured subordinated debentures.

Chartwell opens third retirement residence of 2019

Residential, Commercial  •  Canada Newswire  •  RENX

Chartwell Retirement Residences (CSH.UN-T) announced the opening of The Sumach by Chartwell in downtown Toronto. This project was completed in partnership with the Daniels Corporation and Welltower Inc. and marks the third Chartwell residence to open so far in 2019.

AHIP acquires land associated with Maryland hotel

Commercial  •  PR Newswire  •  RENX

American Hotel Income Properties (AHIP) REIT (HOT.UN-T) announced it has exercised its option to buy out the ground lease associated with its Fairfield Inn & Suites White Marsh hotel in Baltimore for US$1.9 million plus closing costs.

Inovalis REIT acquires German office building

Commercial  •  Canada Newswire

Inovalis REIT (INO-UN-T) announced it successfully completed the purchase of an office property in Neu-Isenburg, Germany as part of a 94/6 joint-venture arrangement with Inovalis SA. The property was acquired for approximately $75 million Cdn.

REIT financial results:

Commercial  • 

Inovalis REIT, (INO-UN-T), Canada Newswire

REOC financial results:

Commercial  • 

Skyline Investments, (SKLN.TA), Globe Newswire

Trez Capital Mortgage Investment Corp., (TZZ-T), Canada Newswire

Trez Capital Senior Mortgage Investment Corp., (TZS-T), Canada Newswire

Calls grow to redesign cities with women in mind

Residential  •  Globe and Mail

For centuries, cities were built by mostly men. These planners, architects and politicians created places that worked for them, and it was only later the idea of gender-neutral design emerged. An increasing number are questioning whether women are still shortchanged.

Vancouver home sales hit three-decade low: REBGV

Residential  •  Vancouver Sun

March home sales in Metro Vancouver hit a three-decade low, the Real Estate Board of Greater Vancouver says. The board reported Tuesday home sales totalled 1,727 in March, a 31.4 per cent year-over-year decrease from 2,517 sales.

Gibsons grapples with housing crunch and rising prices

Residential  •  CBC

Three decades ago, Alex Henry remembers when he could rent a large house near Gibsons, B.C., for $350.  Now, still working part-time in the construction industry, he says he can no longer afford to find a place to rent.

Hamilton-Burlington house sales rise 40% in March

Residential  •  Hamilton Spectator  •  CBC

March real estate sales in the Hamilton/Burlington area jumped 40 per cent compared to February sales but, year-over-year, last month’s performance lagged one per cent behind March sales in 2018, according to the Realtors Association of Hamilton-Burlington.