Slate Office REIT (SOT-UN-T) is selling a 25 per cent interest in six Toronto-area office buildings to New-York based Wafra Inc. for $131.8 million. The REIT also announced it will cut its annual distribution from 75 cents to 40 cents per share.
CRE fundamentals are generally strong in North America and Europe, which bodes well for another solid year for investors, according to five top executives speaking at Toronto’s Real Capital conference. Toronto and Vancouver lead the way, with Montreal close behind.
Industrial land is so hot in London, Ont., prices have risen by about a third over the last two years, according to CBRE. “It’s pretty unprecedented in London,” said Peter Whatmore a CBRE vice-president and a broker for southwestern Ontario.
The company that owns some 35 daily and weekly newspapers in Atlantic Canada is selling 10 of its buildings. The affected properties, currently owned by Saltwire Network, are located in Nova Scotia, P.E.I., and Newfoundland and Labrador.
Vice President , The Regional Group of Companies Inc
Together, Alterra Mountain’s and Vail Resorts’ (MTN-N) passes can be swiped at 58 North American resorts, as well as a handful of resorts in Oceania and Europe. The two competing conglomerates are trying to turn occasional skiers into frequent skiers.
Over four decades, Peter Gilgan turned Mattamy Homes into the largest closely held home construction company in North America. Now, he is stepping aside as chairman of Mattamy Homes and setting up a new company to invest in other sectors.
A decades-old agreement between the City of Ottawa and a golf course might be the only thing stopping a ClubLink Corp. development proposal from replacing holes with homes.
Better, but still needs work says Ottawa’s urban design review panel on the new design for a controversial addition to the Fairmont Château Laurier. Larco Investments wants to expand the historic hotel with more long-stay rooms and meeting spaces.
The Joint Venture of Canada Lands Company (CLC) and Musqueam, Squamish and Tsleil-Waututh (MST) Partnership, with the City of Vancouver, launched at a Vancouver event the Jericho Lands policy planning program to create a new vision for the Jericho Lands.
Michael Brown, CEO of the Calgary Municipal Land Corporation, predicts the path to a new arena in Victoria Park will be through a public-private partnership. The city agency is overseeing the redevelopment of Victoria Park.
Amazon.com Inc., which scrapped a deal this month to open offices in New York after clashing with local politicians, is pulling out of a lease in Seattle that was at the center of a battle with the city council.
Amazon plans to open a brand of grocery stores in the U.S. separate from its Whole Foods banner. The first store is scheduled to open in Los Angeles later this year, according to The Wall Street Journal.
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The cost of renting an apartment in Canada shot up 0.9 per cent in a single month in January, according to Statistics Canada, the fastest one-month leap since August 1989.
Two new buildings in different areas of the city with 70 for-profit affordable rental homes combined were approved by Vancouver City Council last week.
The number of new vacant homes in the city has reached a record high for the fifth month in a row, says a report by Alberta Treasury Branches.
A wave of older workers is retiring and there are not enough younger workers with the skills to close the gap. It’s bad news in a building boom. The issue is, understandably, top of mind among Quebec’s residential construction entrepreneurs.