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CBRE Caledon buys into $1.6B data centre investment
CBRE Caledon buys into $1.6B data centre investment
CBRE Caledon Capital Management Inc. has acquired a significant minority stake in a new platform with 12 Vantage Data Centers operating assets. CBRE Caledon completed its investment alongside an investor group led by Colony Capital Inc.
Q2 2020 was RioCan’s ‘most unusual quarter’: Sonshine
Ed Sonshine called it “the most unusual quarter” of his 26 years as RioCan REIT‘s CEO. Q2 2020 was one of its toughest financially, but Sunshine and president/COO Jonathan Gitlin focused on restoring value and growth during a conference call with analysts.
Dalfen JVs with Goldman Sachs on 46 U.S. properties
• Canada Newswire • RENX
Dalfen Industrial, whose Canadian office is in Montreal, announced it will partner with Goldman Sachs Merchant Banking Division on a 46-property last mile industrial portfolio in the U.S. The portfolio of over 6.3 million square feet caters to e-commerce-oriented tenants.
Tenants assume Sears space in Oxford’s Calgary mall
• CBC • Calgary Herald
Dollarama, PetSmart and Winners will take over roughly 100,000 of the 235,000 square feet Sears left behind when it vacated Oxford Property Group’s Southcentre Mall. The retailers will take over Sears’ former first floor in the southeast Calgary community of Willow Park.
Office vacancy rates up in Atlantic Canada
• Huddle
Office vacancy rates were up year-over-year in four of the six major cities in Atlantic Canada and warehouse vacancies were up in half of them, according to the latest rental market surveys by Halifax-based Turner Drake & Partners Ltd.
Vancouver office workers to return by 2022: NAI
Real estate services giant NAI Commercial estimates only five to 20 per cent of employees are regularly at their downtown Vancouver offices this summer. However, NAI managing partner Rob DesBrisay believes that, by 2022, most workers will have returned to the office.
Vancouver developers crowd into rental market
• Globe and Mail (Sub. required)
A couple of years ago Vancouver’s presale condo market was so hot you could flip a unit before it was even built. The condo market has cooled, however, and developers have been looking increasingly towards rental projects.
Van.’s Plaza of Nations site heads to permit board
• urbanYVR
As the transformation of the former Plaza of Nations site in downtown Vancouver heads to the development permit board on Aug. 4, detailed renderings of the project have been released by Canadian Metropolitan Properties and James KM Cheng Architects.
Wilhelmina proposes Nanaimo mixed-use project
Barefoot Planning and Design, on behalf of Wilhelmina Group, has submitted plans to create “a medium-density residential neighbourhood with a boutique retail village core” in the south portion of a 44-acre Nanaimo property and higher-density mixed-use in the north portion.
Kanata Wingate hotel backers eager to open doors
Denis Shank, a real estate broker and financial backers of the new Wingate by Wyndham Kanata West Ottawa hotel, says the group is champing at the bit to open – despite what’s likely the city’s worst year for tourism in decades.
Can smart buildings outsmart coronavirus?
• Bisnow
Could the smart office be the coronavirus-proof solution the U.K. government has been looking for? Thanks to social distancing sensors, air quality monitors and fever detection lanes, the new normal can operate as efficiently as the old, advocates argue.
Metrolinx needs people’s trust on TOD: Opinion
• Toronto Star • CBC
Here’s a quick list of things a public agency like Metrolinx needs to successfully build major transit projects. They need detailed plans. They need billions of dollars. They need various equipment to dig very big holes. And they need trust.
DAVIDsTEA to reopen 18 Canadian stores
• Globe Newswire • Toronto Star
DAVIDsTEA Inc. (DTEA-Q), a leading tea merchant in North America, announced that as part of its restructuring plan under the Companies’ Creditors Arrangement Act (Canada), it plans to reopen 18 stores in Canada under new, more favourable lease terms and conditions.
COVID-19 fuels growth in cold storage
Demand for cold storage has been on the rise in recent years due to an increase in online grocery sales. The coronavirus outbreak prompted lockdowns, further encouraging online shopping and increasing the demand for climate-controlled warehouses.
Starwood seeks $11B for new real estate wagers
Barry Sternlicht’s Starwood Capital Group is seeking to amass an $11 billion war chest for real estate wagers. The firm is targeting as much as $8 billion for its flagship Starwood Global Opportunity Fund XII, according to sources.
Demand for Taiwan CRE, residential property rises
Heightened tensions between the U.S. and China and COVID-19 have spurred demand among mainland China-based Taiwanese individuals and companies for residential and commercial property in Taiwan. Enquiries doubled in Q2 compared to Q1 , said Jubon Asset Management’s Michael Liu.
Mortgage deferrals plummet from peak: Equitable Bank
Equitable Group says mortgage deferrals have declined significantly, as it aims to turn a potential debt “cliff” facing some borrowers into a more gradual “slope.” Payment-deferral plans peaked near the end of May at 20 per cent of its total portfolio.
Impressions proposes 12-storey residential building
Impressions Group has submitted a rezoning application to the City of Toronto to redevelop a commercial property. A two-storey office-commercial building with surface parking that occupies the site would be demolished to accommodate a 12-storey residential building designed by SvN.
Longwood proposes nine-storey apartment building in Vanier
Longwood Developments is proposing a 61-unit, nine-storey rental apartment building with a mix of one- and two-bedroom suites near the northwest corner of Vanier Parkway and McArthur Avenue in Ottawa. Underground and surface-level parking would provide spaces for 33 vehicles.
Toronto housing market seeing ‘bonkers’ price activity
• Globe and Mail (Sub. required) • Globe Newswire
First-time GTA buyers are anxiously vying for properties after the average selling price hit a record in June. “It’s kind of bonkers,” says Royal LePage Terrequity Realty broker Farrell Macdonald. “I’m more than a little perplexed by the price activity.”
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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