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Toronto's condo rental market spiked in 2024, data shows
Toronto's condo rental market spiked in 2024, data shows
The shadow inventory of condominiums rented out by owners in the Toronto census metropolitan area rose by almost 24,700 units year-over-year, to 207,925 as of October 2024. That means 41 per cent of Toronto condos were on the rental market.
Amazon closing its seven Quebec warehouses
Amazon is closing its seven facilities in Quebec and moving to third-party delivery. Two sorting centres in Longueuil and Côteaux-du-Lac will be closed as well as three distribution centres in Laval and Lachine and a large item delivery centre.
Who owns the sky? How airspace is shaping B.C.'s future
Airspace parcels are increasingly being created for mixed-use developments with different components, like retail on the ground floor with office, hotel and residential uses above. This enables each component to be separately owned, governed and financed.
Primaris buys, sells $724M of shopping centres
Primaris REIT (PMZ-UN-T) is kicking off the new year by acquiring interests in the Southgate Centre in Edmonton and Oshawa Centre in the Greater Toronto Area, and selling the Sherwood Park Mall in Edmonton.
New corporate HQ for The Brick opens in Edmonton
Leon's Furniture Limited (LNF-T) has announced the opening of a new corporate headquarters for The Brick in Edmonton along with a leading-edge shared services distribution centre that has a combined total footprint of 500,000 square feet.
Canadian Net REIT buys three properties in Quebec for $12M
Canadian Net REIT (NET-UN-T) has announced the acquisition of three properties in Saguenay, Que., inluding a grocery store operating under the IGA banner, a pharmacy under the Jean-Coutu banner and a bank under the National Bank of Canada banner.
Vancity property sales move forward
One of three Vancity Credit Union properties listed with Colliers last year sold Dec. 20 for $7 million. Situated at 3075 Douglas St., Victoria, the 0.66-acre property sold for its development potential.
McCourt commits $100M to O'Leary's 'Wonder Valley' DC plan
McCourt Global has announced a strategic partnership with O'Leary Ventures to accelerate the development of Wonder Valley, the proposed AI data centre industrial park in Alberta's Greenview Industrial Gateway. McCourt plans to invest $100 million in the project.
19-storey Don Mills rental could be demolished for 4 towers
A 19-storey rental building with 226 units on Don Mills Road was initially proposed to have infill built next to it, but now Compten Management proposes demolishing it to make way for four towers over 40 storeys tall.
TransLink proposes 400 rental homes in mixed-use dev.
A tentative preliminary concept has been identified for TransLink’s second building development project under its new for-profit Real Estate Development Program. The public transit authority’s former North Vancouver Transit Centre bus depot in Moodyville would be redeveloped.
Ottawa's appeal of Kanata golf course redev. dismissed
ClubLink's push to replace Kanata Golf and Country Club with 1,480 housing units has passed another legal challenge. The proposal has faced opposition for years, including a failed City of Ottawa attempt to argue its case before the Supreme Court.
RioCan offering $550M of senior unsecured debentures
RioCan Real Estate Investment Trust (REI-UN-T) has agreed to issue $550 million aggregate principal amount of senior unsecured debentures of the trust in two series.
Canadian CEOs are optimistic on growth prospects
Canadian CEOs are cautiously optimistic they can navigate U.S. President Donald Trump’s planned tariffs with a combination of global expansion and homegrown productivity initiatives, according to a survey by consulting firm PricewaterhouseCoopers.
Two-thirds of businesses have no succession or exit plan
According to a new HSBC report, around two-thirds of business owners have yet to create a succession or exit plan. The survey of 1,800 entrepreneurs across 10 markets found that many owners avoided succession planning because it felt daunting.
Moncton building permits drop to $270 million in 2024
The City of Moncton says it issued $270M worth of building permits in 2024, with more than half being residential property developments. It falls short of the $341M in 2023 and $366M in 2022.
TD eyes selling $9 billion of mortgages as it faces asset cap
Toronto-Dominion Bank is looking to sell about US$9B of U.S. residential mortgage loans as the lender adjusts its balance sheet to comply with a cap imposed by U.S. regulators as part of a plea agreement reached last year.
Open AI, SoftBank and Oracle to form $100B JV for AI infrastructure
U.S. President Donald Trump announced a private sector investment of up to US$500B to fund infrastructure for artificial intelligence. ChatGPT’s creator OpenAI, SoftBank and Oracle are planning a joint venture called Stargate to build data centres.
All the president’s men: CRE nominees proposed for Trump administration
President Donald Trump’s vision for his administration will come into clearer focus in the coming days, but his first draft features a swath of proposed appointees either with commercial real estate backgrounds or helming departments key to the industry.
Blackstone to buy NYC’s Kimpton Hotel Eventi for $175 million
Blackstone (BX-N) agreed to buy the Kimpton Hotel Eventi as strong travel demand makes Manhattan hotels attractive to investors. The alternative asset manager agreed to pay about US$175 million to acquire the 292-room property.
Retailers are snapping up buildings and taking on a new role - landlord
Last year, Avi Hiaeve scooped up the former Playboy Club, with plans to turn the building into the headquarters for his luxury jewelry company. His acquisition was part of a string of purchases by tenants-turned-owner-occupiers as retail rents picked up.
Industry Events
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Canada Real Estate Auctions
Feb 01 2025
to Dec 31 2025
Canada
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Quebec Apartment Investment Conference
Feb 19 2025
Palais des congrès de Montréal
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RealCapital
Feb 25 2025
Metro Toronto Convention Centre, North Building
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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CRE.Converge 2025
Sep 08 2025
to Sep 10 2025
Sheraton Centre Toronto
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