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 |
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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 |
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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 |
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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 |
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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