Ivanhoé invests $1B in WeWork plan to acquire CRE

Commercial  •  Globe and Mail (Sub. required)  •  La Presse  •  The Real Deal

WeWork is expanding into property acquisition and management, raising US$1 billion from Ivanhoé Cambridge to buy real estate in major cities around the world, including Toronto, London and Paris.

Epic announces major leases in Calgary, Edmonton

RENX  Commercial  •  Office  •  Calgary, Edmonton

Epic Investment Services has announced three leases, totalling about 300,000 square feet of space, at two of its office properties in Calgary and Edmonton. The largest of the transactions involves 240,000 square feet at the class-A 205 Quarry Park Blvd. complex in Calgary.

Winnipeg’s entertainment district continues to expand

Commercial  •  Western Investor

Winnipeg’s sports, hospitality and entertainment district continues to expand. Recent highlights include the doubling of the RBC Convention Centre Winnipeg, ongoing improvements to Bell MTS Place and continuous upgrades to the Burton Cummings Theatre.

New industry kicks development into high gear in Welland

RENX  Commercial  •  Industrial, Homes, Infrastructure  •  Ontario

Welland, Ont. has hardly been known as a hotbed for growth, historically speaking. But that has changed in the past couple of years. “It’s quite a different picture from 10 years ago,” Welland’s economic development officer Lina DeChellis said.

Transit City rising in Vaughan

Residential, Commercial  •  Urban Toronto  •  RENX

The most significant project currently underway as part of the 100-acre master-planned community forming around the new northwestern subway terminus at Vaughan Metropolitan Centre is SmartCentres REIT’s (SRU-UN-T) and CentreCourt‘s Transit City at SmartCentres Place.

Toronto’s technology sector spans 416 and 905: AY

Commercial  •  Canada Newswire

Toronto is celebrated as a technology cluster to watch. Downtown Toronto, in particular, is surrounded by supporting organizations that take an active role in helping identify and nurture the next generation of technology entrepreneurs.

The Saskatchewan Edge › A solution to Saskatoon’s downtown office vacancy

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

StorageVault acquires three stores for $55M

Commercial  •  Globe Newswire  •  RENX

StorageVault Canada (SVI-X) announced  it has entered into two separate agreements to acquire two stores in Ontario and one store in B.C. from two vendor groups for an aggregate purchase price of $55 million.

Fengate exceeds fundraising target

Commercial  •  Canada Newswire

Fengate Asset Management (Fengate) announced it has closed total capital commitments of $1.1 billion for Fengate Core Infrastructure Fund III and affiliated vehicles (Fund III), exceeding both its $750 million target and initial $1 billion hard cap.

CMLS unveils May Commercial Mortgage Commentary

Commercial  •  Globe Newswire

CMLS Financial, one of Canada’s largest, independently owned mortgage services companies, has released its latest Commercial Mortgage Commentary, an in-depth analysis of the commercial mortgage market in Canada.

Ice District towers to open within months

Residential, Commercial  •  CBC  •  RENX

Construction of the JW Marriott and the Stantec Tower in Edmonton’s ICE District is expected to wrap up within three or four months and the buildings will soon be open to hotel guests and residents.

Holt Renfrew closing Edmonton store

Commercial  •  CBC  •  Edmonton Journal

Edmonton’s Holt Renfrew store, a fixture for more than three decades in Manulife Place downtown, will close next January as the luxury retailer shifts its focus to larger stores, the company said in a news release Tuesday.

Analysts rate BSR REIT a buy

Commercial  •  Globe and Mail (Subscription required)

BSR REIT (HOM-U-T) has an attractive 5.2 per cent yield and conservative payout ratio. This small-cap REIT with a market capitalization of US$161-million is well-covered by the Street with analysts from large firms such as BMO Nesbitt Burns.

REIT financial results

Commercial  • 

Automotive Properties REIT, (APR-UN-T), Canada Newswire

BTB REIT, (BTB-UN-T), Canada Newswire

CAPREIT, (CAR-UN-T), Globe Newswire

Pure Multi-Family REIT, (RUF-UN-X), Sedar

REOC financial results

Commercial  • 

Dream Unlimited Corp., (DRM-T), Globe Newswire

Invesque Inc., (IVQ-U-T), Canada Newswire

Mainstreet Equity Corp., (MEQ-T), Canada Newswire

StorageVault Canada Inc., (SVI-X), Globe Newswire

Steady performance in U.S. multi-family: Yardi

Residential  •  PR Newswire

A new national report from Yardi Matrix portrays remarkable consistency in the U.S. multi-family industry. Rents increased by $5 in April 2019 as robust job creation continues to drive absorption of about 300,000 new units per year.

Vancouver apartments earmarked for demolition

Residential  •  Globe and Mail

The two well-worn low-rise apartments set for demolition on Oak Street in Vancouver’s Marpole neighbourhood have become a kind of ground zero in this city’s dilemma over how to solve its rental-housing shortage.

Regina’s construction industry in ‘deep recession’

Residential  •  Regina Leader-Post

Regina’s residential construction industry is experiencing a heavy downturn, with this year’s housing starts on track to be the lowest in 11 years, says a new report from the Regina and Region Home Builders’ Association.

Canadian home sales rebound from seven-year low

Residential  •  CBC  •  Financial Post  •  Canada Newswire

After plunging to their lowest level since 2012, sales of Canadian homes have inched higher for the past two months and are now about four per cent higher than they were a year ago, says the Canadian Real Estate Association.

Fewer foreign residents buying GTA homes

Residential  •  CBC

New figures show the pace of foreign purchases of residential real estate in the Greater Toronto Area has slowed to a trickle, two years after the province imposed a tax to try to cool the housing market.