Thursday, March 29, 2012

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--
Jonathan J. Knight
Broker
Re/Max Clearview Inc. Brokerage
202 Montreal St. Stayner, ONT.
L0M 1S0 - 705 428 4500
direct - 705 441 6839
fax     - 705 428 5951
free    - 877 441 6839
web   - www.collingwoodarearealestate.ca


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Tuesday, March 27, 2012

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Jonathan J. Knight

Broker

www.CollingwoodAreaRealEstate.ca

Canada real estate values have passed 2007 peak, Altus InSite Finds new

Paul Brent
Property Biz Canada
Tue Mar 27 2012

The Canadian commercial property market has surpassed its 2007 pre-recession peak and shows no signs of slowing, according to the latest findings of the Q1 2012 Investment Trends Survey and Outlook from Altus InSite.

Based on cap compression rates, the market has moved beyond the prior 2007 top and continues to power forward, driven by low interest rates, a shortage of supply and “discipline” in commercial development. The industry has also shaken off negative global events, such as the European sovereign debt crisis, softening economic outlook in Asia or the US political gridlock.

As a result, there is a continued compression in yields, increasing rents and a run up in values. Altus finds that yields have not yet compressed to the point of investor discomfort and confidence is sustaining.

The major difference between today and 2007 is ultra-low interest rates and little prospect that they will move upwards in the near future. At the prior Q2 2007 peak, the 10-year Government of Canada bond rate was around 4.0% compared with the current rate of 2.0%. “In 2007 financing was available but it was more expensive then it is now to borrow money,” said Marie-France Benoit, a director with Altus InSite. “There is a lot of liquidity and a lot of financing available.”

Cap rate compression slowed in the fourth quarter of 2012 amid the worst fears of the European sovereign debt crisis before picking up again in this quarter, noted Benoit. “In the last quarter we wondered if we hit bottom or was just a pause. Now we know it was just a pause.”

The Altus survey said most asset classes are now beyond the 2007 peak, especially the most sought-after asset classes such as super regional malls and downtown Class A office towers. The one except is industrial properties, which is currently catching up and was one of the most prized asset classes among investors in the Q1 survey. “What it tells me is the industrial is seen as a type of asset that has a lot of upside,” she said. “It was so beaten in the recession it is recovering. Especially in Toronto and Montreal which were really affected by the recession, we see leasing activity picking up and it seems like the worst days are over.” Retail, which was a very popular asset in 2011, has moved down the preference list among investors.

Multi-Tenant and Single Tenant Industrial replaced retail options among prospective buyers, with 9.0 and 6.5 buyers for every seller respectively. Tier 1 Regional Mall (5.0 buyers for every seller) and Food Anchored Retail Strip (4.4 buyers for every seller) have slipped to third and fourth positions respectively, while Downtown Class “AA” Office has moved down to seventh position from number three.

Interestingly, Downtown Office Land maintained a top ten position, underscoring a new office construction cycle in many locations. The largest upward move from the last survey was Multi Tenant Industrial, which moved into number one position from tenth position. The other noteworthy product is Hotels, which moved into positive territory at 1.3 buyers per seller for the first time since the economic crash. Only two asset classes, Suburban Office Land and Suburban Class “B” Office, remain in negative position with more sellers than buyers.

“The respondents expect values to continue to increase, rents are firming up, so revenues are improving and there is no oversupply,” said Benoit. “So for the most popular asset classes there is no oversupply. All the projects that were built in Calgary and Toronto, downtown office towers are well leased, they are filling up well. All the signs are positive, there are not a lot of clouds on the horizon.”

The low interest rate environment has not only made real estate investments more affordable, it has also made them more attractive as an asset class as investors are finding it difficult to stay ahead of inflation with fixed income investments,” the Altus InSite director noted.

Deal activity is also on the rise as more sellers have stepped forward to meet that increased demand for property. “Products were really rare and now quantity of product available for sale has improved in the last six months,” she said. “We have had more investment activity than we had a year ago.”

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Monday, March 26, 2012

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Canada Mortgage and Housing Corporation

March 26, 2012

Housing Research

A hygrometer
A hygrometer

Features

Research Highlight

Social Housing Redevelopment and Regeneration in Canada: Eight Case Studies
The study examined approaches and lessons learned in the redevelopment and regeneration of eight social and affordable housing projects in Canada. The report presents the key findings of the eight case studies, which focused on the main drivers and objectives for redevelopment, considerations during the planning and implementation of redevelopment, and the outcomes.

About Your House

Measuring Humidity in Your Home
Too much humidity, or too little, can produce a host of difficulties for homeowners and tenants. Too much can cause condensation on windows, wall and ceiling stains, while too little can cause breathing problems and damage to furniture. But now, you can learn how to diagnose and correct humidity problems. Learn about hygrometers, relative humidity, how to determine if your home's humidity levels are too high or too low, and possible solutions.

CMHC's EQuilibrium™ Housing projects are now on Flickr!

These images can be shared with others and embedded on your site by following the instructions available on Flickr.

Flickr

View them Now!

CMHC at Large

Webcasts of the Spring 2012 Session of the National Housing Research Committee (NHRC)
You are cordially invited to register for the webcasts of the Spring 2012 session of the National Housing Research Committee (NHRC), which will be broadcast on the Internet from Monday, April 23 to Tuesday, April 24, 2012 in both official languages.

Monday, April 23, 2012

Housing Data Working Group meeting — (8:30 a.m. to 12 p.m. Eastern Standard Time)

1.     From Data to Intelligence: Saskatchewan's Small Communities Market Survey by Shauna Wouters

2.     The Health of Residents in Québec's HLM Apartments by François Rivest

3.     Demonstration on CMHC's New Interactive Local Housing Data Tables by Sibi Samivel

4.     Statistics Canada's Transition Home Survey by Marta Burczycka

5.     Canadian Household Debt by Age by Diana Petramala

Sustainable Housing and Communities Working Group meeting — (1 p.m. to 3:30 p.m. Eastern Standard Time)

1.     Renewal of Habitations Jeanne-Mance by Danielle Juteau

2.     Wood-Based Solutions for Building Structures by Marc Lapointe

3.     Reducing the Carbon Footprint of Beaver Barracks by Leanna Falkenhagen

Tuesday, April 24, 2012

Distinct Needs Working Group meeting — (8:30 a.m. to 12 p.m. Eastern Standard Time)

1.     Housing Conditions of Aboriginal Communities in Northern Québec  by Odile Légaré

2.     Sustainable Aboriginal Housing Design by Johann Kyser

3.     Toronto Aboriginal Research Project by Don McCaskill and Kevin FitzMaurice     

Homelessness Working Group — (1 p.m. to 4:30 p.m. Eastern Standard Time)

1.     The Roads to Housing First by Nick Falvo

2.     Research on Housing First: Perspectives from New York City by Deborah K. Padgett

3.     Early Findings of the At Home / Chez Soi Study of Housing First Approaches in Five Canadian Cities by Tim Aubry

4.     Implementation Challenges for Housing First by Nick Falvo

Here's a detailed agenda for each of the Working Group meetings and please register in advance.

Research Highlights — RSS Feeds
Keep up to date by subscribing to our RSS feeds. RSS feeds allow you to access the content that you want, the way you want. What is RSS?

Renting a Home
If you are a tenant, a landlord or property manager, CMHC can offer you information on tenant and landlord rights, responsibilities and rental practices across the country.

Alternative Development Standards: A Guide for Practitioners 
This guide provides an overview of best practices on alternative development standards (ADS) for engineers, planners, builders and other development professionals in a way that highlights proven Canadian examples of ADS.

Events and Items of Interest

Getting Older, Getting Wiser — Building Communities for an Aging Population
April 13, 2012
Toronto, Ontario

Canadian Housing Renewal Association's 44th National Congress on Housing and Homelessness
May 1 to 4, 2012
St. John's, Newfoundland and Labrador

15th Annual Alberta Sustainable Building Symposium
May 3, 2012
Calgary, Alberta
A one day opportunity to network with clients, gain insight into future trends and celebrate local successes. This event is specifically targeted to architects, engineers, planners, builders, green product suppliers, building owners and operators, and planning and building policy makers.

Federation of Canadian Municipalities (FCM) 75th Annual Conference and Trade Show
June 1 to 4, 2012
Saskatoon, Saskatchewan

Find out what is new and upcoming with CMHC, visit our Events Calendar.

To find out what is going on in the industry, see the list of other Housing-Related Events and Conferences.

Did You Know

that over the past 65 years, social housing has been evolving in order to meet changing community and demographic needs?  See The Evolution of Social Housing in Canada in the 2011 Canadian Housing Observer.

To unsubscribe, please click on the link at the bottom of this newsletter

If you would like to subscribe with a new email address, you will need to subscribe again. If you have any questions, please feel free to send me an e-mail.

View Past Issues

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Friday, March 23, 2012

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Ontario to squeeze cash from real estate holdings - Liberal Party of Canada

Premier Dalton McGuinty's Liberals are going to squeeze more money out of the government's $14 billion in real estate holdings, the Star has learned. The cash-strapped Liberals, who face a $16 billion budget deficit this year, plan to make more profit from office buildings and other public assets by using them more efficiently and making it easier to sell off unneeded property.

Toronto Star   Fri Mar 23 2012 - Winnipeg Free Press

CN, Caisse partner on massive project - Caisse de dépôt

It rated just a six-paragraph mention among hundreds of pages of Quebec government budget documents. But it will be one of Canada's largest infrastructure projects when it gets off the ground - a multibillion-dollar effort to build a huge railway across an isolated stretch of rugged land and accelerate the province's push into natural resources.

Montreal Gazette   Thu Mar 22 2012 - Financial Post - Financial Post (Second Article)

HOOPP, Meyer Bergman open Czech shopping centre - Healthcare of Ontario Pension Plan

Healthcare of Ontario Pension Plan (HOOPP) has opened its first retail property development in Europe through a joint venture with fund manager Meyer Bergman. Forum Nová Karolina is the largest shopping centre in the Czech city of Ostrava and has opened its doors six months after being sold by Multi Corporation to HOOPP and the Meyer Bergman European Retail Partners I fund.

IP Real Estate   Fri Mar 23 2012

Romspen ... when size matters

Romspen is a non-bank mortgage lender specializing in commercial real estate across Canada. We offer customized mortgage solutions for term, bridge and construction financing from $2M to $60M. With over $750 million under administration, Romspen leads the industry in commercial mortgage lending.

www.romspen.com, 800-494-0389, 416-928-4868 or contact Blake Cassidy


 

Office workers to start moving into The Bow building - Calgary Bow Tower

Hundreds of office workers will start moving into The Bow building in the next couple of weeks. The lower floors of the massive office tower downtown are nearly ready so desks and other equipment for employees with Cenovus will be moved in soon. The huge moving job will happen in stages.

CBC News   Fri Mar 23 2012

Province offers more Fort McMurray land for development - Fort McMarray

After a decade of frustration as a shortage of residential and commercial land forced prices skyward in Fort McMurray, the province announced a comprehensive strategy for releasing more Crown land in the region. “Last year, we made more than a thousand acres of land available for development in Fort McMurray...

Calgary Herald   Fri Mar 23 2012

Kimco Acquires Stake in Orleans Gardens Shopping Centre in Ottawa - Kimco Realty Corp - KIM-N

Kimco Realty Corporation announced that it has purchased a 50 percent ownership interest in Orleans Gardens Shopping Centre in Ottawa, Ontario, for $16.4 million Canadian dollars (USD $16.5 million). This grocery-anchored property is part of a new pari passu joint venture with the center's existing owner, North American Property Group...

Financial Post   Fri Mar 23 2012 - Ottawa Business Journal

Loblaw buying prescription files from Zellers pharmacies for $35M - Loblaw Cos. Ltd - L-T

Loblaw Companies Ltd. is buying the majority of the prescription files of the vanishing Zellers Inc. department store chain in a deal worth about $35 million. “This move underscores Loblaw’s commitment to becoming the nation’s health and wellness destination of which pharmacy is a cornerstone,” Canada’s largest grocer said Friday in a news release announcing the purchase.

Toronto Star   Fri Mar 23 2012

 

Is There A Restaurant Investment In Your Future? Hear The Forecast. Discover the Trends. The Big Picture Is What It's All About, And It's Here. JOIN US.

MAY 30+31, 2012 — TORONTO

www.restaurantinvest.ca

 

McDonald's CEO Jim Skinner retiring - McDonald's Corp - MCD-N

McDonald's Corp. says that chief executive officer Jim Skinner will retire later this year, handing over the responsibility of running the world's largest burger chain to the company's president. Mr. Skinner, who has been CEO since 2004, will step down on June 30 after 41 years with McDonald's. Donald Thompson, a 22-year McDonald's veteran...

Globe and Mail   Fri Mar 23 2012

Lululemon shares hit new high - Lululemon - LLL-T

Shares in Vancouver-based Lululemon Athletica made a new high after the yoga-inspired retailer posted better-than-expected profits and despite a warning that full-year earnings may not be as high as analyst have predicted. Its stock rose as high as $76.63 after a busy holiday shopping period helped power fourth-quarter profits higher as revenues jumped 51 per cent.

CBC News   Thu Mar 22 2012 - Canada.com - Toronto Star

Should RONA sell most of its big-box stores to Lowe's? - RONA - RON-T

Smaller stores that are closer to where more Canadians live are a key part of Rona Inc.'s future plans but the home improvement retailer's success is contingent upon "the overriding wild cards" of how consumers and market rivals react to the strategy, according to analyst Keith Howlett of Desjardins Securities.

National Post   Fri Mar 23 2012

Carl Fransen joins Jones Lang LaSalle in Calgary - Jones Lang LaSalle

Jones Lang LaSalle has appointed Carl Fransen as senior vice-president of the firm’s Project and Development Services (PDS) team. Based in Calgary, he will provide clients across Alberta with project management services for renovation and construction projects including managing construction budgets and schedules, site roll out and construction team management.

REM Online   Thu Mar 22 2012

Your Expert Partner in Commercial and Construction Financing

MCAP is your expert partner in providing commercial and construction financing across Canada. With more than $1 billion in annual commitments, MCAP provides its clients with a variety of financing options encompassing:

  -  Land development
  -  Condominium construction
  -  Freehold construction
  -  Inventory loans for builders over completed units
  -  Conventional commercial term loans
  -  CMHC insured multi-family
  -  Mezzanine loans
  -  Commercial construction loans

Visit our website at www.mcap.com to explore these various financing options.

 

First Leaside questions long overlooked - First Leaside Group of Cos.

Significant red flags were raised more than 16 years ago at troubled real estate and wealth management firm First Leaside — concerns which seem prescient given a regulatory probe that essentially froze operations of the Uxbridge, Ontario-based firm late last year. According to sources and a letter sent to some investors and obtained by the Financial Post...

Financial Post   Fri Mar 23 2012

U.S. Lodging Sales Surge As 'Unprecedented' Hotel Market Run Unfolds - PKF Hospitality Research

The U.S. lodging industry, benefitting from two years of sporadic recovery, should continue to enjoy gains in occupancy and pricing power through 2014, with rising profits luring greater levels of investment, according to a series of hospitality reports and outlooks released over the last few days.

CoStar Group   Fri Mar 23 2012

U.S. Multifamily Mortgage Activity Enjoys Upswing after 3-Year Slump - Fannie Mae

The multifamily mortgage market continues to experience an increase in lending activity from a variety of participants. Although the GSEs and FHA have been the primary participants, there has also been renewed interest from portfolio lenders, banks and thrifts and commercial mortgage-backed securities issuers, according to new research from Fannie Mae.

CoStar Group   Fri Mar 23 2012

Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale - Grubb & Ellis Co.

Grubb & Ellis Co. has canceled a bankruptcy auction to sell off its assets, leaving BGC Partners, LP as the only bidder and clearing the way for a court hearing to approve the sale. Santa Ana, CA-based Grubb & Ellis filed for bankruptcy protection on Feb. 20 and entered into a letter of intent in which BGC Partners, acting as a stalking horse buyer...

CoStar Group   Fri Mar 23 2012

REAL ESTATE FORUMS 2012 - WINTER AND SPRING CALENDAR

Green Real Estate Conference

Toronto

April 4, 2012

Vancouver Real Estate Forum

Vancouver

April 11, 2012

Winnipeg Real Estate Forum

Winnipeg

April 18, 2012

Montreal Leasing Conference

Montreal

April 24, 2012

Land and Development

Toronto

May 1, 2012

Quebec City Real Estate Forum

Quebec City

May 8, 2012

Edmonton Real Estate Forum

Edmonton

May 10, 2012

Calgary Real Estate Leasing Conference

Calgary

June 5, 2012


For more information visit: realestateforums.com

 

Home > Commercial > Real Estate Companies

C2C Industrial Properties Inc. Announces Closing of Private Placements totalling $46 million - C2C Industrial Properties Inc. - CCH-X

C2C Industrial Properties Inc., further to its announcements on January 30, 2012, January 31, 2012, February 10, 2012 and February 29, 2012 that it has closed the previously announced $35,000,000 brokered private placement of common shares and additional details of its $10,500,000 private placement of shares conducted in connection with its most recent portfolio acquisition.

Canada News Wire   Fri Mar 23 2012

CP offers activist investor a board seat - Canadian Pacific Railway Ltd - CP-T

Activist investor Bill Ackman says he’s surprised that Canadian Pacific Railway Ltd., has nominated him for a seat on the board of directors because he hasn’t held any conversations with the company for months. The chief executive officer of Pershing Square Capital Management LP learned about the nomination after CP said in its proxy circular that it recommended he be one of 16 CP directors.

Globe and Mail   Fri Mar 23 2012

Canadian Pacific CEO received no bonus in 2011 - Canadian Pacific Railway Ltd - CP-T

Canadian Pacific Railway Ltd. Chief Executive Officer Fred Green received no bonus last year as the carrier failed to meet its profit targets. Green's total compensation dropped to $5.29 million, Calgary-based Canadian Pacific said in a regulatory filing. That was down from $6.58 million in 2010, when he received an annual bonus of $1.67 million, CP said.

Toronto Star   Fri Mar 23 2012

Madison Pacific Properties Inc. Announces 2011 Results - Madison Pacific Properties Inc. - MPC-T

Madison Pacific Properties Inc., a Vancouver-based real estate company, announces the results of operations for the year ended December 31, 2011. The results reported incorporate changes required pursuant to International Financial Reporting Standards (IFRS). The Company is reporting net income of $30.2 million for the year (2010: $18.1 million)...

Marketwire   Fri Mar 23 2012

Home > Commercial > Real Estate Investment Trusts

Reasons for Optimism Among U.S. Office REITs - SNL Financial

Despite weak fundamentals, there is evidence that investors remain optimistic about the office REIT market. "Across the board, office REITs appear to be underperforming in comparison to the broader REIT market," said Jason Lail, senior industry analyst with SNL Financial. For 2012, SNL is projecting median funds from operations growth of 1.4 percent in the office sector...

REIT.com   Fri Mar 23 2012

Northern Property REIT/Norserco Inc. Announce Closing of $66 Million Financing - Northern Property REIT - NPR.UN-T

Northern Property REIT and NorSerCo Inc., announced that they have closed their previously announced public offering of 2,000,000 NPR stapled units at a price of $32.85 per Stapled Unit, for gross proceeds of $65,700,000, to a syndicate of underwriters led by CIBC and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotiabank, Cannacord Genuity Corp., ..

Marketwire   Fri Mar 23 2012

Home > Commercial > Market Trends and Research

Alberta outpaces Canadian average for retail sales growth - Statistics Canada - Retail Sales

Retail sales growth in Alberta outpaced the Canadian average in January, according to Statistics Canada. The federal agency said that sales in the province reached $5.6 billion, up 0.6 per cent from the previous month and an increase of 9.4 per cent from January 2011. Across the country, retail sales rose 0.5 per cent to $38.9 billion in January...

Calgary Herald   Fri Mar 23 2012 - Financial Post

Labour shortages still a concern for industrial, commercial contractors, survey finds - Ontario Construction Secretariat

Ontario’s industrial, commercial and institutional (ICI) construction contractors remain positive about their fortunes in 2012, although less so than recent years, and labour shortages are a growing concern, according to a recent survey. The Ontario Construction Secretariat (OCS) recently conducted the survey which found that 42 per cent of Ontario contractors polled...

Daily Commercial News   Fri Mar 23 2012

How changes to Ontario Architects Act helps companies expand - Shimmerman Penn

Recent changes in ownership restrictions on Ontario architecture firms are making it easier for companies to form partnerships and grow their businesses, according to speakers at a recent education event. Before the provincial Architects Act was amended, at least 51 per cent of shares of architectural firms were required to be held by architects or professional engineers...

Daily Commercial News   Fri Mar 23 2012

Home > Commercial > Retail

SIR Royalty Income Fund Reports Fourth Quarter and Year End Fiscal 2011 Results - Sir Royalty Income Fund - SRV.UN-T

SIR Royalty Income Fund reported its financial results for the three-month and twelve-month periods ended December 31, 2011. All comparisons are to the corresponding period in the prior fiscal year. Beginning with the first quarter of 2011, the Fund is reporting its financial results in accordance with International Financial Reporting Standards, as required for public companies in Canada.

Canada News Wire   Fri Mar 23 2012

Video: Zara owner profits from Asia growth - Zara

Spanish group Inditex, the world's leading clothes retailer, posted perky February sales figures and announced a 12.5 percent rise in its dividend after outpacing rivals during the downturn in austerity-wracked Europe.

Globe and Mail   Fri Mar 23 2012

Home > Commercial > International

Starbucks takes on India - Starbucks Corp - SBUX-Q

Starbucks is the latest global chain hoping to cash in on India’s booming coffee house culture. India has long been associated with tea, from the vast tea fields o

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