The visionary ORCA Project, a 16-acre mixed-use development to be constructed above a rail corridor in downtown Toronto, has received a significant investment to build the master-planned community.
Two Canadian real estate veterans are heading Forest Gate Financial Corp., a new boutique private equity, private debt and real estate investment firm. Dan Marinovic is CEO and managing partner, while Frank DelZotto is CFO and partner.
Canada could run out of warehouse space in 2021, thanks to the boom in e-commerce sparked by the pandemic. While a near-record 26.1 million square feet of logistics real estate is under construction, much of it is already leased, according to CBRE.
Toronto’s downtown office vacancy rate hit 9.1 per cent in Q1, says CBRE, as businesses attempted to shed office space. The vacancy rate was nearly two percentage points higher than Q4, marking the highest level since early 2008’s global financial crisis.
An online survey by global staffing firm Robert Half found 33 per cent of Canadian respondents currently working from home due to the pandemic are not interested in going back to their pre-COVID work life.
Optima Living and JV partner Axium Infrastructure have acquired four seniors’ supportive living facilities from Points West Living in the Alberta communities of Slave Lake, Lac La Biche, Wetaskiwin and Cochrane. The acquisition adds 305 beds to the joint venture portfolio.
Lawyer, Pallett Valo LLP
• AY Blog
The Canadian hospitality market was hit harder than most other CRE asset classes during 2020. Given that the industry relies on business and leisure travel, conferences and human interaction, it is no surprise it has been severely challenged by the pandemic.
RioCan REIT and Woodbourne Canada Management are proposing to build a 10-storey mixed-use building and a seven-storey residential building at 3180 Dufferin St., south of Yorkdale Shopping Centre. The mixed-use building would have 302 residential units while the other would include 253.
IKEA, a pioneer of suburban box stores, will open in downtown Toronto. In a year, urban dwellers seeking a Vonsbäk rug, Jubla candles or a stroll through the famously circuitous showroom will be able to head to Yonge and Gerrard.
Dollar Tree (DLTR-Q), one of the best-known discount retailers in the U.S., is almost an afterthought in Canada. In 2017, the Virginia-based chain announced it would boost its presence here to 1,000 stores, from its then-total of 226. Its current total is 230.
Restaurants Canada and the Ontario Restaurant Hotel & Motel Association is demanding the provincial government pick up a $100-million tab following the abrupt closure of indoor and outdoor dining last week.
Experts say potential uses for non-fungible tokens — a tool using blockchain technology to provide proof of ownership of a digital asset such as an image, audio clip or a tweet — include the proof of ownership of assets like real estate.
Calgary-based APEL Extrusions has acquired a 22.6-acre parcel in Phoenix, planning an on-site 323,782-square-foot headquarters and manufacturing facility. Becknell Industrial sold the property and will also develop the new facility for the aluminum extrusion company.
CPP Investments and Australian REIT Dexus have sold a jointly owned, $275M class-A 34-storey office tower to Brisbane-based Marquette Properties. The sale comes amid signs tenants are beginning to strike lease deals as pandemic uncertainty washes out of property markets.
Millions of U.S. homeowners who have fallen behind on mortgage payments due to the pandemic would not face foreclosure until after Dec. 31 under rules proposed Monday by the Consumer Financial Protection Bureau.
Ottawa-headquartered Mattamy Homes, North America’s largest privately owned homebuilder, has broken ground on Telaro, its first 55-plus luxury development in South Florida. The active-adult community in Tradition offers staycation-style living with an upscale clubhouse.
Bosa Properties is planning a townhouse complex on a land assembly on Vancouver’s West 49th Avenue, designed by Ekistics Architecture. A total of 47 units are planned, consisting of two- and three-bedroom townhouses and stacked units, in eight separate buildings.
The Calgary Real Estate Board says March home sales in the city hit a level not seen in a decade as low lending rates and more savings continued to impact the market. March sales were 2,903, a 147 per cent year-over-year increase.
In March, Toronto home sales and prices blew past the previous record set during the 2016 real estate boom, with the city’s condo rebound gaining steam and demand continuing for houses in the city and nearby suburbs, according to TRREB.