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Recent Articles

Allied issues $345M in units to help fund $1B growth

4 years ago

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Allied Properties REIT (AP-UN-T) will offer $345 million in units to raise equity for its ongoing acquisitions and extensive value-add programs. The offering will help Allied remain leverage-neutral during a year when it has committed $1 billion to those efforts.

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Catalyst Capital Group Inc., Wednesday offered to buy Hudson’s Bay Co. (HBC-T) in a deal that valued it at $2.03 billion challenging HBC’s agreed deal with a consortium led by Richard Baker. HBC shares rose about 11% in early trading.

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Marguerite Blais, the minister responsible for seniors and informal caregivers, said more than 2,500 long-term care facilities across Quebec will be renovated or rebuilt to “better adapt” to the needs of seniors and staff. The project will cost an estimated $2.6 billion.

RENX   •   • 

Prével has launched sales for Phase I of Esplanade Cartier, a residential project on one of the largest development sites near downtown Montreal. The first phase covers 50,000 square feet of the 400,000-square-foot development east of the Jacques Cartier Bridge.

Captivate at the 2019 Building Show

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Sustainable homes are no longer reserved exclusively for the elite. “If you can afford to build a new house, you can afford to build a Passive House,” said Natalie Leonard, an engineer and the president of Passive Design Solutions.

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Compass Group Canada will assume a majority stake in the 18,000-square-foot Assembly Chef’s Hall in Toronto’s financial district. Assembly Chef’s Hall is recognized as a leading event venue and culinary destination serving more than 2,500 guests daily.

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On the heels of the launch of Time Out Market two weeks ago in the Eaton Centre comes word that Le Cathcart food court will open in late January not far away in Ivanhoé Cambridge’s refurbished Esplanade Place Ville Marie.

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OneSpan cybersecurity firm is making Montreal its largest centre of operations. OneSpan will be taking office space in the former Windsor Station and will welcome 100 new employees, in addition to the 250 already working there as part of a $9 million investment.

Stewart Title

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Quebec’s Court of Appeal has ruled against developer Meadowbrook Groupe Pacific Inc. in its long legal battle with the City of Montreal over a proposed housing development on the Lachine side of the Meadowbrook Golf Course.

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Moving into the new Daniels Waterfront – City of the Arts building in downtown Toronto was the perfect opportunity for not-for-profit Remix to bring its workspace design vision to life.

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Durum Industrial REIT announced it has closed on the purchase of a 12,500-square-foot light industrial property in Sylvan Lake, Alta., for $1,535,000. The property was acquired at an 8.6 per cent capitalization rate.

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Aurora Cannabis Inc. (ACB-T) announced the grand opening of its flagship retail store at in the West Edmonton Mall, North America’s largest mall. At approximately 11,000 square feet, Aurora has combined a retail cannabis store and an immersive experiential space.

NAI Commercial

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A family of pumpkin farmers in Windsor, N.S., who have been the stewards of a famous hockey site known as Long Pond are looking to sell their piece of history. The price for the 23.78-acre lot? $1.38 million.

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Brookfield Property Partners (BPY-UN-T) has unveiled renderings of its new $950-million mixed-use development in the Mott Haven submarket of the Bronx. The 4.3-acre Bankside will include more than 1,350 apartments and 15,000 square feet of ground-floor retail.

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Canada Pension Plan Investment Board (CPPIB) has invested $340 million  for a 12.4 per cent stake in Smartfit Escola de Ginástica e Dança S.A., Latin America’s largest fitness chain, which serves 2.5 million members across 739 locations in 10 countries.

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U.S. self-storage markets are still dealing with the impact of high completion levels from the past few years. The incoming supply continues to hinder rent growth, pressuring store operators to use cutbacks and concessions to maintain competitiveness, notes Yardi Matrix.

BOMA

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Real estate broker Nathalie Bégin can’t recall a time during her three-decade career that the Montreal market has been so tilted toward sellers. Bégin cites the recent case of a duplex in the neighbourhood that drew 15 offers in four days.

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A homebuyer who withdrew an unconditional offer after the Greater Toronto Area real estate market suddenly cooled in 2017 has been ordered to pay more than $600,000 to compensate the seller for the much lower price they received from someone else.

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Andre Kutyan, a real estate agent with Harvey Kalles Real Estate Ltd., was representing house hunters who recently considered making an offer on a house with an asking price of $4.395 million in Lawrence Park.

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When it comes to housing affordability, renters in Ottawa-Gatineau are among the least satisfied in Canada, but homeowners like where they live, a national housing survey has found.

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