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Dori Segal reflects on the rise of First Capital Realty
Dori Segal reflects on the rise of First Capital Realty
Dori Segal launched First Capital Realty Inc. with the 2000 acquisition of Centrefund Realty Corporation and helped build it into one of Canada’s largest owners, developers and operators of necessity-based real estate.
Major Calgary development back to the drawing board
• Calgary Herald • CBC • Global News
El Condor Lands, the developer behind a major project in Calgary’s Chinatown, is walking away from $350-million plans to build two condo towers and a hotel on 2nd Avenue S.W. — at least for the time being.
Time Out Market unveils Montreal Eaton Centre tenants
Time Out Market Montreal, the 40,000-square-foot food and culinary centrepiece of Ivanhoé Cambridge’s Montreal Eaton Centre revitalization, unveiled eight future tenants Tuesday. They include several of Montreal’s top chefs including Normand Laprise, Charles-Antoine Crête, Jeffrey Finkelstein and Claude Pelletier.
InterRent to buy 5 Montreal apartments, issue stock
InterRent Real Estate Investment Trust (IIP-UN-T) is purchasing five apartment properties in Montreal in a series of transactions valued at $204 million. The buildings will increase the trust’s portfolio in Montreal to 20 properties containing 2,735 units.
Year-over-year CRE sales plunge in Lower Mainland
Commercial real estate sales in the Lower Mainland fell significantly year-over-year in Q1 2019, according to data by Commercial Edge, the Real Estate Board of Greater Vancouver’s (REBGV) commercial real estate sales tracking system.
Massive film and TV hub planned for Hamilton
• CBC
City officials and a new studio group have announced plans to build a massive film and TV hub in Hamilton. The “Hamilton Studio District” will include a production campus, studios for post-production, animation and visual effects, office buildings and more.
GTH subleasing out its own head office space
Regina’s Global Transportation Hub head office looks out on a barren landscape, fronting a vacant building lined with “for lease” signs. Now that head office is up for lease too. A sublease, to be specific.
St. John’s parking lot to become office, retail space
• CBC
An outdoor parking lot in the downtown St. John’s area will be turned into an office and retail building, after council approved the design for a new development. The space is being developed by Montreal-based Alre Properties.
Feds approve $7.4B Trans Mountain expansion project
PM Justin Trudeau and cabinet have again approved the Trans Mountain expansion project, a crucial next step for the much-delayed pipeline project designed to carry nearly a million barrels of oil from Alberta’s oilpatch to the B.C. coast each day.
Fonds FTQ joins Montoni and Sélection
Preferred buyers of the Molson brewery property, Montoni and Sélection will have as their principal financial partner the Fonds immobilier de solidarité FTQ. The sale of the Molson lands to the buyers’ consortium is expected to be completed this month.
Feds unveil new $330M Library and Archives Canada
• Ottawa Business Journal • Canada Newswire
Library and Archives Canada’s new preservation centre in Gatineau, designs of which were unveiled Tuesday, will be the federal government’s first “net-zero-carbon” building. The LAC centre’s construction, valued at $330 million, is part of a public-private partnership.
Church planning for development near future LRT station
With a new LRT station to be built just steps away from its Ottawa property, First Unitarian Congregation of Ottawa is laying the groundwork to open its site for development and smooth out any future financial bumps.
Ottawa council lost control of Château Laurier expansion
• Ottawa Citizen • Globe and Mail • Construct Canada
The Fairmont Château Laurier expansion project at the edge of the historic Parliamentary precinct has drawn overwhelming opposition from inside the capital and beyond, but the politicians of Ottawa’s municipal government have lost control over the final design.
ATTAbotics hires Calgary company to design new HQ
Scott Gravelle, CEO/CTO of ATTAbotics has chosen Modern Office of Design + Architecture, led by University of Calgary EVDS graduates Ben Klumper and Dustin Couzens, to design a 120,000-square-foot building in the YYC Global Logistics Park.
Holloway sells Timmins hotels for $11.4M
• Canada Newswire • RENX
Holloway Lodging Corp. (HLC-T) announced it has sold its Super 8 and Travelodge hotels located in Timmins, Ont. The sale price was $11.4 million representing a cap rate of approximately 9.8% and a price per room of approximately $70,000.
BSR REIT sells Arkansas apartments for $22.1M
BSR REIT (HOM-U-T) announced it has sold two additional non-core assets as part of its portfolio enhancement and capital recycling strategy. The total consideration received for the Little Rock, Ark., apartments was $22.1 million.
Canadian housing prices end nine-month slide: Teranet
• Reuters
Canadian home prices climbed for the first time in nine months in May as the housing market benefited from lower borrowing costs and from an economy that was adding jobs, the Teranet-National Bank Composite House Price Index showed Wednesday.
Budget watchdog casts doubt on federal housing strategy
• Toronto Star • Newinhomes.com • Newinhomes.com
It’s not clear the Liberal government’s multi-billion dollar housing plan will actually reduce housing needs, according to an assessment by Canada’s parliamentary budget officer, who says the new strategy actually reduces targeted funding for households in need of financial support
Vancouver RE sees uptick in interest from Hong Kong buyers
Real estate agents in Vancouver have noticed something unusual in the past few weeks. For the first time in recent memory, the number of Hong Kong Chinese attending open-house showings has exceeded that of mainland Chinese buyers.
Underground levels take shape at Sugar Wharf condos
• Urban Toronto • RENX
It’s been roughly a year and a half since Menkes Developments broke ground on its 4.6-million-square foot mixed-use Sugar Wharf community on Toronto’s waterfront. The initial phases will produce a pair of condominium towers and an office tower.
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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