Kevric Real Estate Corp.’s acquisition of the 28-storey National Bank headquarters in Montreal fits its strategy perfectly of being an opportunistic investor in the downtown core, president Richard Hylands told RENX. “This one falls right into our pattern.”
Co-working will likely overtake the tech sector this year as the biggest driver of office leasing in the U.S., JLL anticipates in a recent market report, while major flexible office operators such as WeWork and Spaces continue their rampant expansion.
SNC-Lavalin Group Inc.’s biggest investor – Canadian pension fund manager Caisse de dépôt et placement du Québec – is calling on the embattled engineering firm to make sweeping changes to improve its project execution and prevent further losses that have slammed shareholders.
Beleaguered SNC-Lavalin failed to reach the minimum 70 per cent technical score in bidding for the Trillium Line extension, but was still able to win the $1.6-billion light rail contract. The Montreal-based company, operating as TNext, scored only 67.27 per cent.
Artis Real Estate Investment Trust (AX-UN-T) announced its board’s special committee has retained Citigroup Global Markets Inc. and Scotiabank to provide financial advisory services to the Committee in connection with Artis’ previously announced strategic alternatives review.
The new arena deal gives the Calgary Flames the chance to acquire a significant parcel of land in Victoria Park, but questions remain about what it could cost to clean up the site and who will be responsible for paying.
Vice President , The Regional Group of Companies Inc
Google affiliate Sidewalk Labs and development agency Waterfront Toronto have reached an agreement that would allow them to scrap Sidewalk’s plans for a high-tech Toronto neighbourhood by the end of October if concerns about the project aren’t resolved.
The old Masonic Temple in downtown Winnipeg has sat empty for more than a decade, but after 15 years and extensive, expensive renovations, restaurateur Peter Ginakes says he is ready to breathe life into the iconic building constructed in 1895.
The Bank of Montreal is moving out of its iconic Portage and Main location in Winnipeg. Regional vice-president Kristen Kennedy said the bank is moving into a renovated office tower at 201 Portage Ave., opposite from the bank’s current location.
Transat AT Inc. (TRZ-T) is urging shareholders not to tender their shares to a hostile bidder, calling Group Mach’s attempt to block the Air Canada takeover “coercive” and “misleading.” Transat has agreed to a purchase by Air Canada worth $520 million.
The Catalyst Capital Group announced it has amended its offer to purchase common shares of Hudson’s Bay Company (HBC-T) at a price of $10.11 per common share. The maximum number of shares to be purchased has been increased to 19,782,393.
Restaurant Brands International Inc.’s (QSR-T) quarterly profit beat analysts’ expectations Friday, as more diners visited its Burger King outlets, and investments in international expansion paid off. The Canada-based restaurant company owns Burger King, Tim Hortons, and Popeyes Louisiana Kitchen.
Mississauga-based Revera has acquired a Miami office building for $8.1 million US. Revera bought the three-storey, 25,011-square-foot building at 1000 Ponce De Leon Road in Miami for $323 per square foot, records show. Nor Peru Capital 2, LLC sold the property.
American Hotel Income Properties REIT (HOT-UN-T) announced it has completed approximately US$4.2 million of renovations at the Embassy Suites By Hilton Phoenix Tempe. In total, AHIP will renovate 10 hotels during 2019, including the four hotels already completed.
This week, I’d like to highlight the benefits the building and land development sector brings to the GTA. When all of the data is unpacked, many people are surprised to learn our industry is an economic engine of the region.
Toronto home sales defied the normal summer lull to soar in July, outpacing even June sales levels as buyers are increasingly overcoming tougher mortgage-qualification rules and returning to the market, according to the Toronto Real Estate Board
Vancouver, where the vast majority of rental housing in the region has been built in the past five years, is seeing an increase in the number of pitches for apartment projects from developers – including some who haven’t built rentals before.
Condo owners at The Anchorage in Dartmouth, N.S., are locked in a dispute with a prominent developer over short-term rentals at his Kings Wharf development. The debate with Francis Fares over short-term rental listings is now subject to confidential arbitration.