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Local owners buy 200K-sq.-ft. Barrie office/retail building
Local owners buy 200K-sq.-ft. Barrie office/retail building
A 200,000-square-foot downtown Barrie mixed-use office and retail building with a prime location but a troubled past, has new ownership and a sense of optimism about its future prospects.
Canadian Net REIT: 'Strong performance' from niche retail
Canadian Net REIT’s (NET-UN-X) strategy to acquire commercial real estate that is under the radar of most of its competitors appears to be paying off, its 2023 year-end financial results indicate.
Defaulted real estate loans on the upswing
An upswing in defaulted real estate loans signals a continued downward trend in the market cycle. Developers with in-progress condominium projects are particularly struggling with insolvency, but specialists report a growing demand for remedies across all types of distressed properties.
Breathing new life into historic Edmonton neighbourhood
Once a thriving hub for business, Edmonton’s Quarters District is better known these days for vacant lots, empty storefronts and crime – a tough sell for revitalization efforts, say urban planners, landowners and commercial developers.
Office space reduced in proposed 63-storey tower
Osmington Gerofsky Development Corp.'s resubmitted proposal for a 63-storey tower at 350 Bloor St. E. reduces office space. The Hariri Pontarini Architects-designed tower would include 806 condo/affordable rental units with 27,096 square feet of office space redesignated.
 | Trent University Trent University kicks off landmark Seniors Village housing projectTrent University seeks like-minded organizations to design, build, finance, operate and maintain age-friendly community. Sponsored by: Trent University |
Land transaction platform Landerz raises $1.5M
Landerz, a Montreal-based company, has raised $1.5 million in pre-seed funding as it seeks to expand its platform designed to simplify and shorten the process for complex commercial and multiresidential land transactions.
Scarborough dev. site hits market for $17M
An unfinished 3.4-acre development site in Scarborough has just hit the market for $16,995,000 under a power of sale. The listing also points out the site at 250 Danforth Rd. is “shovel-ready.”
Ottawa condo building on track to open in fall: Mizrahi
Sam Mizrahi, founder and president of Toronto-based Mizrahi Developments, says his luxury condo in Ottawa's Westboro neighbourhood is on track for a fall completion. The 12-storey, 93-unit 1451 Wellington has been more than a decade in the making.
Rose completes two Kitchener rental projects
The Rose Corporation announced the completion of two new rental buildings in Kitchener: the seven-storey, 72-unit Market Flats; and the Woodside – Highland Suites, a 90-unit addition to the recently renovated Spadina Suites, a 103-unit rental apartment building.
Walmart pilots automation at Calgary distribution centre
Walmart Canada is piloting an automated receiving solution at its distribution centre in Calgary as part of the retailer’s plan to modernize its supply chain.
Winnipeg director of development has ambitious plans
“Recently we embarked on a zoning bylaw edits initiative to pinpoint and implement manageable changes, with the goal of completely rewriting our zoning bylaw by 2027,” says Hazel Borys, director of planning, property and development.
Smith Financial to merge Fairstone Bank, Home Trust
Billionaire financier Stephen Smith is merging recently acquired Home Trust Co. with Fairstone Bank of Canada in a deal he values at about $5 billion to $6 billion.
Large projects to drive Atlantic Canada construction economy
Four new reports from BuildForce Canada forecast construction activity in the ICI sector in Canada’s four Atlantic provinces will fluctuate over the next 10 years in sync with various large-scale projects.
Top-10 hotel/motel and shopping centre projects
The accompanying tables show the Top-10 major upcoming hotel/motel and shopping centre construction industry projects in Canada. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.
Neumann bids $500M-plus to buy back WeWork: Source
WeWork co-founder Adam Neumann is bidding to buy back the bankrupt office-sharing company for over $500 million, a source said. Under Neumann, WeWork grew to be the most valuable U.S. startup, worth $47B at its peak.
Innovation, talent rapidly reshaping CRE demand: JLL
Throughout the next decade, market specialization, talent migration, sustainability goals and new technologies such as AI will continue to shape the global knowledge economy and high-tech industry ecosystem, according to the third edition of JLL's Innovation Geographies.
Now's the time to buy apartments: Tishman Speyer, Rockrose
As landlords struggle to navigate New York regulations and as loans backed by multifamily become increasingly at risk, some owners are attempting to make a dash from the asset class before their day of reckoning comes.
San Diego’s stalled lab conversions create space crunch
San Diego’s established reputation as a life sciences hub, as well as its collection of low-rise business parks, made vast stretches of the smaller industrial market ripe for life sciences conversions, which led to substantial property sales.
China pushes banks to speed approvals of loans to developers
Chinese regulators are pushing banks to speed up approvals of new loans to cash-starved private property developers, people with knowledge of the matter said, a bid to revive homebuyer sentiment that risks denting lenders' asset quality.
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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