Real Estate News Exchange (RENX)
c/o Squall Inc.
P.O. Box 1484, Stn. B
Ottawa, Ontario, K1P 5P6

thankyou@renx.ca
Canada: 1-855-569-6300

Development remains a challenge in major CRE asset classes

20 hours ago

Development remains a challenge in major CRE asset classes

Land and construction costs that continue to outpace rents and leasing rates are among the key factors holding back development in all four of the main commercial real estate sectors.

TMR calls for Northwest Healthcare REIT to be broken up

Minority investor TMR Capital has gone public with a campaign to break up Toronto-based Northwest Healthcare Properties REIT (NWH-UN-T), questioning the trust's future in its current form because of the “complexity and geography” of its portfolio.

BoC cuts interest rate 25 BPS: Real estate sector cheers

Canada’s central bank has reduced the overnight interest rate by 25 bps to 2.5 per cent, its first cut since March and a decision welcomed with open arms by the country's housing, commercial real estate and development industries.

QuadReal buys 6,000-unit business from Realstar Group

Realstar – which operates using the UNCLE brand – has been acquired by Canada-based QuadReal Property Group. As part of the deal, QuadReal acquired 6,000 residential units across London, Manchester, Birmingham, Leeds and Dublin.

B.C. developers skeptical of Build Canada Homes plan

A panel of B.C. developers has expressed concerns about the Liberal government’s new Build Canada Homes program, suggesting it could potentially overlap with another federal agency, benefit well-connected builders and encounter challenges in urban settings.

GTA builders warn of 41,000 job losses

Builders’ associations are warning of major job losses in Greater Toronto Area residential construction as Toronto records its lowest annual housing starts in nearly three decades on plummeting condominium sales.

Modular housing gets increased profile in Canada

Modular or prefabricated construction continues to grow in prominence in Canada, and in the wake of the federal government’s Sept. 14 announcement of the Build Canada Homes program, is to play a major role in addressing the country’s housing needs.

Industrial and commercial activity plunges in Quebec

The economic uncertainty that has prevailed for several months in Quebec has put a brake on commercial and industrial real estate activity. According to RE/MAX Québec, the number of commercial transactions fell by 34 per cent in Q2.

Montoni grabs bankrupt Guzzo's last major asset

Montoni Group is preparing to acquire one of the last major Guzzo Group assets, still under the protection of the Bankruptcy and Insolvency Act. A Quebec judge this week approved a motion to sell an $18.5M lot.

Inside the boom outside the Perimeter of Winnipeg

Oak Bluff and other municipalities on Winnipeg’s western border are booming in industrial and residential growth. Rosser, home of CentrePort, a massive trimodal inland port, and Headingley have also seen similar growth.

Costco eyed 2nd Windsor location for about 20 years

A new Costco is slated to open next year in Windsor. Rock Developments is prepping the parcel but the retailer will build the store. It's slated to be about 160,000 sq. ft. - larger than the existing Costco in South Windsor. 

Analysing ROI feasibility on office-to-residential conversions

Some cities are concerned lower levels of downtown foot traffic are damaging to property owners and local businesses, and lower city tax revenues. How to resolve this is the subject of much discussion.

Holborn plans 4 Vancouver towers, including supertall hotel

Three months ago, Vancouver-based real estate developer Holborn Group – the Vancouver arm of Malaysia-based real estate giant TA Global – announced plans for a collection of four towers in downtown Vancouver. Full details around those plans have finally been revealed.

Number of GTA homes under 'power of sale' skyrocketing

People who work with overextended borrowers in the GTA say they’re busier than they’ve been in over a decade. The number of homes that have been taken over by lenders under “power of sale" is up almost 60 per cent.

What’s missing above Toronto’s Eglinton line

OPINION: The Eglinton Crosstown transit line isn’t open but is already a failure in one respect: most of the stations are topped with a small glass box that fails to incorporate housing – in a city facing an affordability crisis.

'Bottlenecks' at Ottawa city hall slow housing process: AG

Despite streamlining the housing approvals process, bottlenecks at the City of Ottawa are slowing the development system, a report from the city’s auditor general‘s office suggests, with the average time for post-approval stages significantly increasing in the past three years.

Brookfield nears $1.25B refi for Hudson Yards office building

Brookfield is lining up a giant refinancing, secured by an office property in Hudson Yards leased to JPMorgan Chase and Amazon. The Canadian property giant is slated to land US$1.25B to refinance Five Manhattan West.

Eli Lilly to build $5B Virginia drug manufacturing plant

Eli Lilly will develop a US$5 billion manufacturing plant in Richmond, Va., advancing its US$50 billion capital deployment plan across the U.S. Completion is expected within the next five years.

Rithm Capital agrees to acquire Paramount for $1.6 billion

Alternative asset manager Rithm Capital Corp. has agreed to acquire Paramount Group, Inc., a vertically-integrated REIT that owns, operates, manages and redevelops class-A office properties in New York City and San Francisco, for approximately US$1.6B. 

Fed rate reduction could boost commercial real estate

The U.S. Federal Reserve is expected to cut its key interest rate today, and commercial real estate professionals say that while the move could kick-start some dealmaking, it won’t automatically reshape property investment or project values.

Industry Events