Skyrocketing taxes have led the owners of the historic Masonic Temple property, on a half-acre of developable land in downtown Calgary, to put it up for sale. The listing includes the three-storey brick building and two parking lots.
Jean-Guy Desjardins, Fiera Capital Corporation (FSZ-T) founder and chief executive officer, predicts significant growth in the firm’s agricultural holdings during the next 10 to 15 years after the investments outperformed traditional fixed-income assets in recent years.
The West Edmonton Mall has been put up as collateral on the troubled American Dream mega-mall in East Rutherford, N.J. Edmonton’s Triple Five Group put up 49 per cent of its interest in WEM and 49% of its Mall of America interest.
A facility that opened 20 years ago as the printing press of the future for The Montreal Gazette has been transformed into eStruxture Data Centers’ largest facility. MTL-2 includes more than 187,000 square feet of colocation space with a planned 30-megawatt capacity.
Two years after demolition began on the west end of the podium at the 1977-built LuCliff Place complex in Downtown Toronto, developer KingSett Capital and contractor PCL celebrated the topping out of a major expansion to the complex at 700 Bay.
For the first time in its history, the management of the Caisse de dépôt et placement du Québec (CDPQ) will be the subject of a real race. The mechanism for selecting the best candidate will be launched early next year.
The myriad of logistics that are part of developing real estate can seem endless. Difficult decisions must be made and challenges can arise almost anywhere. Securing financing shouldn’t be one of those challenges.
An Altus Group report indicates that for the second consecutive year, Calgary saw the largest ratio increase among 11 Canadian cities surveyed for the 2019 Canadian Property Tax Rate Benchmark Report. The report looks at the ratios between commercial and residential taxes.
Toronto’s council is poised to back the Ontario Line this week, but critics warn unanswered questions remain about the provincial proposal. Today, councillors are set to debate a new transit agreement between the city and province.
Hexo Corp. (HEXO-T) is winding down its operations at its greenhouse in Beamsville, Ont., as part of the cannabis company’s cost-cutting moves. The Niagara-area greenhouse belonged to Newstrike Brands Ltd., which Hexo acquired in May.
With the movement to very large infrastructure projects, especially public-private partnerships (P3s), a construction dispute resolution mechanism more commonly utilized in the United States and other nations is increasingly being used in Canada, says leading Toronto construction lawyer Harvey Kirsh.
Toronto-based investment research firm Veritas has pinpointed what it sees as the key risk to Canada’s housing market: Money-losing investor-owners. In an informal poll Veritas found only half of those who own real estate as an investment are cash-flow positive.
NexPoint Hospitality Trust (NHT-U-X) expects the acquisition by merger of Condor Hospitality, Inc. will be completed in Q4 2019. NHT is targeting estimated 2020 revenue of $150-170 million and estimated net operating income of $57-64 million.
Trez Capital, in a partnership with Hines, has acquired a 235,400-square-foot storage facility in Plano, Texas. Constructed in 2018, the four-building storage encompasses 1,603 storage spaces, ranging from 25 to 400 square feet.
Funds in the world’s top-ranked pension industry are responding to negative interest rates by buying up increasingly large stocks of real estate to safeguard returns. Of the eight biggest Danish pension funds, six say they’re planning to expand their portfolios.
The Trump Organization is considering selling its three-year-old hotel in downtown Washington, D.C., Eric Trump, executive vice-president of The Trump Organization, said the company has hired real estate firm JLL to assist the possible sale of the Trump International Hotel.
Under the First Time Home Buyers Incentive (FTHBI), the Liberals will be increasing the upper limit for eligible homes from $480,000 to $789,000. With the FTHBI, home buyers receive between five and 10 per cent of the purchase price as an “incentive.”
The GTA new home market was relatively strong in September, both in terms of new home sales and new project openings, the Building Industry and Land Development Association (BILD) announced Monday.
Canadians increased their mortgage borrowing last month at the strongest pace in more than a year, the latest sign real estate activity is rebounding from a prolonged lull. The total value of residential mortgage credit climbed to $1.6 billion in September.
Groundbreaking for the Chartwell Trait-Carré Retirement Residence, in Charlesbourg, Que., took place Monday morning. This 359-apartment residence represents an investment of approximately $90 million and highly anticipated benefits for the community. Chartwell Retirement Residences (CSH-UN-T) is an unincorporated, open-ended trust.