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Gazit Globe JV acquires Toronto’s York Mills Centre
Gazit Globe JV acquires Toronto’s York Mills Centre
A joint venture headed by Gazit Globe (GZT-TYA) has an agreement to purchase the York Mills Centre office complex in Toronto for $250 million. The group includes Gazit’s Canadian partner Dori Segal’s Gazit TripLLLe Canada, and an unnamed private company.
Bombardier opening million-sq.-ft. Mississauga plant
• PR Newswire • Bloomberg
Bombardier (BBD-B-T) today announced Mississauga will be home to a new global manufacturing centre for its Global business jets. The 41.2-acre/one million-square-foot facility will be located on Toronto Pearson Lands.
Toronto launches $24B housing plan
• CBC • Toronto Sun • Globe and Mail (Sub. required)
Mayor John Tory is throwing his support behind a decade-long action plan that would see all three levels of government spend $23.4 billion to help more than 300,000 people. The money would go toward building some 40,000 new affordable and supportive housing options.
Oxford Living sees opportunity in Ontario seniors housing
Oxford Living, LLC has built a portfolio of 15 Ontario seniors housing communities over the past 11 months, and it’s poised to become an even bigger player. Oxford Living is Chicago-based Oxford Capital, LLC’s seniors housing operating affiliate.
Edmonton approves development of 150 acres
• CBC
The City of Edmonton is paving the way for some 150 acres of land in the city’s northeast to be developed after council’s urban planning committee approved a new framework Tuesday. The Exhibition Lands framework allows for housing and commercial development.
Warehouse space crunch tightens due to e-commerce
As the holidays and another wave of frenzied online shopping approach, Canada is experiencing a commercial warehouse crunch. The creation of new available space isn’t keeping pace with the e-commerce boom, says Colliers Canada’s Peter Garrigan.
B.C. takes over three Anbang senior care facilities
B.C. health authorities have imposed outside management at Comox Valley Seniors Village, the Nanaimo Seniors Village and the Selkirk Seniors Village in Victoria two years after Ottawa approved the sale of the facilities to a Beijing-based Anbang Insurance Group.
Older apartment building retrofits reducing GHGs
More than 847 older B.C. apartment buildings have received simple, energy-saving upgrades since the Rental Apartment Program (RAP) was launched by FortisBC in 2015, a number that “goes up every day” according to program manager Jim Kobialko.
Huawei founder to relocate research centre to Canada
• Globe and Mail (Sub. required) • CBC
Huawei plans to shift research to Canada from the United States and manufacture some mobile network equipment outside China, its founder Ren Zhengfei says, as the Chinese tech giant seeks to combat an increasingly hostile White House.
Automotive REIT acquires two properties for $28.9M
• Canada Newswire • RENX
Automotive Properties REIT (APR-UN-T) announced it has agreed to purchase two automotive dealership properties in Regina and North Vancouver from the Dilawri Group for a total purchase price of approximately $28.9 million.
Infrastructure Ontario head sees ‘challenges’
• Toronto Star • CBC
The provincial government could be facing an uphill battle to get its $28.5-billion GTA transit plan built on schedule, for the simple reason that contractors may not be able to handle the workload.
Expo 67’s legacy is safe. What about Ontario Place’s?
• Globe and Mail (Sub. required)
OPINION: Half a century ago, Expo 67 showcased Canada at its boldest and most utopian. A few years later, that spirit travelled to Toronto with the opening of the waterfront Ontario Place. Today, those two sites face two very different futures.
Vernon’s SilverStar bought by U.S. company
• Castanet • Kelowna Daily Courier
POWDR, an adventure lifestyle company with destinations across North America, announced it has acquired B.C.’s SilverStar Mountain Resort making it POWDR’s first mountain resort in Canada.
OSC to hold hearing on Catalyst’s HBC proposal
• Financial Post • Globe and Mail (Sub. required)
The Ontario Securities Commission will hold a hearing on Thursday to consider an application by The Catalyst Capital Group seeking to block or postpone a takeover of Hudson’s Bay Co. (HBC-T) by a group led by HBC chairman Richard Baker.
Learning from Ontario Teachers’ Pension Plan
Plenty of pension fund executives would like to be in the shoes of Ron Mock as he sits in the London offices of Ontario Teachers’ Pension Plan. Set to retire as CEO, Mock oversees a plan with assets of $200 billion-plus.
Walgreens launches drone delivery pilot
• JLL
In a first in September, Walgreens began working with Alphabet’s Wing to use drones to deliver 100 different products from store to door in a program it’s piloting in Christiansburg, Va.
Housing sales surge in Toronto, Vancouver
• Globe and Mail (Sub. required) • Global News • Business In Vancouver
Home sales in Vancouver and Toronto jumped in November compared with last year, when prospective homebuyers were grappling with tougher mortgage rules and rising interest rates. In the greater Vancouver area, sales soared 55 per cent to 2,498 homes.
Landlords launch appeal of Toronto’s Airbnb rules
• Toronto Star • Winnipeg Free Press
The City of Toronto says it will move ahead with its short-term rental bylaws even though seven landlords for Airbnb-style rentals announced they plan to ask a divisional court for leave to appeal rules upheld by a provincial planning tribunal.
Saskatoon moving forward on short-term rentals
A City of Saskatoon council committee voted Tuesday to move forward with new rules for rentals offered through web-based companies like Airbnb, even as politicians acknowledged shortcomings.
Housing, household debt risks contained: Opinion
• Globe and Mail • Globe and Mail (Sub. required)
Canadian households carry notoriously high levels of debt, making them and the financial system particularly vulnerable in the event of an economic recession. However, when considering the income side as well, the picture reveals that risks remain contained.
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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