Value stocks roared to life when Pfizer Inc. announced good results from COVID-19 vaccine trials. Walmart Inc.’s Canadian landlord, SmartCentres REIT (SRU-UN-T), jumped 16 per cent in a day while H&R (HR-UN-T) and First Capital (FCR-UN-T) gained eight and seven, respectively.
ELAD Canada’s Galleria project at Dupont and Dufferin Streets is rising where Toronto’s Galleria Shopping Centre stood from 1972. The 20-acre site will include an eight-acre park and seven commercial and residential towers, including the distinctive 31-storey flatiron-shaped Galleria III.
REACH Canada has chosen eight participants for its inaugural real estate technology accelerator program, and they’ve started work on an eight-month curriculum. REACH was created by Second Century Ventures, the strategic investment arm of the Chicago-headquartered National Association of Realtors.
Fengate Asset Management, on behalf of the LiUNA Pension Fund of Central and Eastern Canada, has announced the acquisition of the 567,619-square-foot Concorde Corporate Centre in Toronto. The centre is being acquired from Artis REIT, which bought it in 2010.
VIDEO: James Robertson, president and CEO of the University of Calgary Properties Group, talks about the potential of the University Innovation Quarter lands, formerly University Research Park.
A 40-storey social housing tower with cultural spaces for the Ismaili community is slated for Vancouver. The DA Architects and Planners development will provide 32,300 square feet of new worship, social and educational space in the podium, and 198 social housing units.
Portfolio strategy in commercial real estate has become paramount to endurance as markets react in a ‘wait and see’ manner with the pandemic. While certain sectors of the industry that were previously flourishing have become increasingly vulnerable. . .
Canada’s municipalities have released a detailed, multibillion-dollar wish list for what a economic recovery plan should look like, including a $7-billion boost to the Rapid Housing Initiative, a program to create new affordable housing units partly by purchasing struggling hotels.
Recently, Inspire Brands (owner of the Arby’s, Buffalo Wild Wings and Sonic restaurant chains) announced it would acquire Dunkin’ Brands in a deal valued at US$11.3 billion, the largest acquisition in the industry since Burger King purchased Tim Hortons in 2014.
City planners are rejecting the development vision for Kanata Golf and Country Club, but the decision rests with authorities outside of Ottawa City Hall. ClubLink, Minto Communities and Richcraft Homes hope to transform the golf course into a 1,544-home subdivision.
Nova Scotia-based Cabot is expanding its golf resort empire again, this time to the other side of Canada. Cabot’s third site will be in Revelstoke, B.C., where it plans to build a golf course along with a lodge and housing.
George Weston Ltd. (WN-T) raised its dividend as it reported its Q3 results. The company, which operates through Loblaw, Choice Properties and Weston Foods, says its quarterly dividend will be increased to 55 cents per share, up from 52.5 cents per share.
Simon Property Group, the largest retail REIT in the U.S., is feeling the pandemic pain. Simon has decided to relinquish ownership of four shopping malls to lenders that carried a combined $410 million in debt, MarketWatch reports.
Owners of New York City real estate, whose taxes make up a sizable portion of the city’s revenue, are gearing up for a possible fight with the Tax Commission next year as the pandemic continues to wreak havoc.
Walmart Inc. (WMT-N) said on Tuesday it was optimistic about its holiday sales prospects in a pandemic-ridden year after the big-box retailer beat Wall Street expectations for quarterly results as Americans increasingly shift their spending online.
Home Depot Inc. (HD-N) said Tuesday it will spend about $1 billion more on employees’ wages annually as the home improvement chain benefits from a surge in demand for tools and building materials. The company beat quarterly sales and profit estimates.
A growing cohort of would-be buyers in Canada keen to move up the property ladder are trapped by a flood of condos in the Toronto and Vancouver markets. There is also a near-record number of new condos under construction.
According to PadMapper, the rent price free-fall in the nation’s two priciest markets has continued as Vancouver’s one-bedroom rent has hit its lowest mark since April 2017. Overall, 15 cities experienced a “downward monthly rent price change” and five were trending upward.
The trend in housing starts was 222,734 units in October 2020, up from 214,372 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.