Commercial Real Estate News, Monday, February 25 2013 
Can Tim Hortons fight off McDonald's attack? After closing for several weeks, a Tim Hortons restaurant in north Toronto reopened this month with a new look: A sleek flat-screen television is now mounted on a stone wall above a gas fireplace, while customers slide onto benches to sip their lattes at tables overlooking an enlarged kitchen area. McDonald’s is also giving its Canadian restaurants a facelift ... Globe and Mail Sat Feb 23 2013 |
Gatineau charts $135M waterfront revitalization - Destination Gatineau There aren’t many places in the National Capital Region to go and enjoy the waterfront, but a group of tourism officials from the Quebec side of the Ottawa River are hoping to change that. The City of Gatineau is standing behind a new initiative to spend $135 million on attracting new visitors to the city. The centrepiece of the proposal, called Destination Gatineau. Ottawa Business Journal Mon Feb 25 2013 |
Calgary commercial real estate sales top $4.8 billion in 2012 - Realnet Canada The Greater Calgary real estate market accelerated its recovery from 2009, climbing by 81 per cent in terms of overall investment dollar volume in 2012 from the previous year, says a report by RealNet Canada. The real estate information services company said there were 445 transactions over $1 million during the year totalling $4.84 billion. Calgary Herald Mon Feb 25 2013 |
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CPR to be out of downtown Calgary in 2013 - Canadian Pacific Railway Calgary-based Canadian Pacific Railway will move all of its employees from its downtown headquarters at Gulf Canada Square to a new building at the company’s Ogden Yard in southeast Calgary by the end of this year, the Herald has learned. Ed Greenberg, spokesperson for CP, said the main headquarters will be a two-storey, 214,000-square-foot building. Calgary Herald Sun Feb 24 2013 |
Toronto school board faces city over development plans Davisville Junior Public School, a stout brown-brick structure with weathered white trim, holds fewer than 400 students. There is nothing remarkable about this small elementary school, in other words, but for one big wrinkle: The academy is at the centre of a high-stakes battle between a cash-starved school board and the guardians of the city’s skyline. Globe and Mail Sat Feb 23 2013 |
First Capital Realty objects to casino at Toronto CNE - First Capital Realty Inc. Opposition to a casino at Exhibition Place is mounting, with a major Liberty Village developer warning it will "immediately end" gentrification in the area and the head of Toronto’s annual exhibition vowing to mobilize "CNE nation" to stop the proposal. First Capital Realty has sent a letter to the city manager to voice its "strong opposition" to a casino proposed for nearby Exhibition Place. Globe and Mail Sun Feb 24 2013 |
Canmarc vets behind new PROREIT - PRO Real Estate Investment Trust To those who follow the Canadian REIT space, there are two familiar names at the top of Taggart Capital Corp., a real estate company that intends to convert into a new REIT called PRO Real Estate Investment Trust (PROREIT). The Montreal-based company is headed by James Beckerleg and Gordon Lawlor, who used to lead Canmarc REIT. Property Biz Canada Mon Feb 25 2013 |
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Target's first Canadian ads put bull's-eye on rival Walmart - Target Canada Target's brand is well known to the bulk of Canadians, according to research, not just for its distinctive bull’s-eye logo but for its entrenched reputation as a purveyor of affordable style. The retailer's first Canadian ads from KBS+ Canada begin airing during the Oscar telecast on Sunday night, and they echo the style and cheeky spirit of Target’s U.S. commercials. Financial Post Mon Feb 25 2013 |
Did Loblaw and Metro miss an opportunity with Safeway? - Safeway Inc. Safeway Inc. looks less likely to sell its Canadian assets after the supermarket chain’s fourth quarter profit beat estimates and its discount program appears to be on the right track. It shares surged more than 13% on Thursday after the company’s fourth quarter results beat expectations and same-store sales for the first quarter of 2013 trended higher. Financial Post Mon Feb 25 2013 |
Montreal's changing skyline Looking out over the skyline of Montreal's downtown core, it's easy to see that things are changing. Cranes can be seen, hammers can be heard and new buildings seem to be going up overnight. There's no question that Montreal is undergoing a boom in development. But why now? And what does it mean for the city? Montreal Gazette Mon Feb 25 2013 |
Sam Mizrahi is a micromanagerm and proud of it - Mizrahi Developments Sam Mizrahi freely admits he’s a mega micromanager. So it suits the president of Mizrahi Developments just fine that his head office is located right next door to the construction site for 133 Hazelton, a Parisian-style nine-storey luxury condo his company is building at Davenport Rd. and Hazelton Ave. Toronto Star Mon Feb 25 2013 |
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IPD investment forum in the US: Managing risk after the credit crisis - IPD Today more than ever, real estate investment is all about interpretation of risk. That was a strong message during IPD’s U.S. Real Estate Investment Forum, which took place on Thursday at the Grand Hyatt in New York City. The conference marked an unveiling of the new PREA/IPD U.S. Property Fund Index, really two indexes focusing on open-end funds and core diversified open-end funds. CP Executive Mon Feb 25 2013 |
Google plans enormous real estate expansion Google is spending a fortune to expand its already huge Googleplex site. Google is preparing to break ground on a 42-acre campus called Bayview which will be based around nine structures, most of which will be four stories tall. Each building will be shaped like bent rectangles to make room for courtyards and will be connected by bridges, one of which will lead to a green roof with an outdoor cafe. TechEYE.net Mon Feb 25 2013 |
Morgan Stanley unit buys Moscow Mall in blockbuster deal Morgan Stanley Real Estate Investing says one of its funds has bought the Metropolis shopping mall in what it called Russia's biggest commercial real estate deal. Metropolis, which has a total size of 205,000 square meters, is one of Russia's most sizable shopping centers. It was acquired from Capital Partners, a real estate developer, for a price of $1.2 billion, several sources told Reuters. Globe St. Mon Feb 25 2013 |
LatAm office rents drive global rise in prime office rents Office rents in Brazil and Colombia largely drove a global 3% increase in prime office rents last year as continuing economic uncertainty stalled growth in Asia's growth economies, according to a report from Cushman & Wakefield. Prime rents in Brazil rose 10%, with multinational demand making Rio de Janeiro the most expensive per-square-foot location in the region. IPE Real Estate Mon Feb 25 2013 |
Real Estate Forums 2013 - Winter/Spring Event Calendar |
Home > Commercial > Real Estate Companies IMC completes third Canadian CMBS transaction - Institutional Mortgage Capital Institutional Mortgage Capital announces the successful completion of its third Canadian CMBS issuance in 24 months, adding even more support to this outperforming asset class. The most recent IMC CMBS issue of approximately $250 million was distributed by private placement and received very strong interest from investors. Canada Newswire Mon Feb 25 2013 |
Home > Commercial > Real Estate Investment Trusts BTB purchases a 50% participation in a retail complex property - BTB REIT - BTB.UN-T BTB Real Estate Investment Trust it has now purchased a 50% participation in a retail complex in Saint-Lazare, Québec, for the purchase price of $2.5 million excluding closing costs. With the conclusion of this acquisition, BTB has now closed approximately $500 million worth of properties representing over 4.3 million square feet of leasable area. Canada Newswire Mon Feb 25 2013 |
InterRent announces $18 Million of acquisitions in Ottawa, Ontario - InterRent REIT - IIP.un-T InterRent Real Estate Investment Trust has entered into an unconditional agreement to acquire two (2) properties ideally situated in Ottawa's west end for a combined purchase price of $18,350,000. The properties are located in the Crystal Beach neighborhood, in the west end of Ottawa, and include a combination of garden homes and apartments with a total of 141 suites. Marketwire Mon Feb 25 2013 |
Australian REIT Income Fund Announces Exchange Ratios - Harvest Portfolios Harvest Portfolios Group Inc., the manager of Australian REIT Income Fund is pleased to announce the Exchange Ratios available to Canadian REITS for the Exchange Option as provided for in the preliminary prospectus of the Fund dated January 30, 2013. Marketwire Mon Feb 25 2013 |
Home > Commercial > Market Trends and Research RECO decision riles education providers The Real Estate Council of Ontario (RECO) is set to introduce a new online mandatory continuing education program that it says will provide significant benefits to registrants. The courses will be administered and delivered directly from RECO, a move that has riled the province’s third-party education providers. REM Online Mon Feb 25 2013 |
Before you pull out the tape measure ... A reader recently asked me for my thoughts on the challenges with using BOMA’s Standard Methods of Measurement to measure the area of a given building. It says a lot when an industry professional who works with the latest technology expresses frustration with how margins of error remain that can spark disputes between landlords and tenants. Property Biz Canada Mon Feb 25 2013 |
Home > Commercial > Retail Pizza Nova Celebrates 50th Anniversary - Pizza Nova Pizza Nova, the Ontario based Pizza Chain is gearing up to celebrate their 50th Anniversary with contests, promotions and festivities throughout the year. In January they launched a contest inviting customers to share online with them their fondest Pizza Nova Moments and Memories. Canada Newswire Mon Feb 25 2013 |
Canadian grocery stocks: Tasty, but with a limited shelf life This will be a transformational year for Canada’s big grocery chains. The imminent arrival of Target Corp., coupled with continued expansion by Wal-Mart Stores Inc., suggests one or more of the incumbents could do a major deal to bulk up and compete better against the U.S. behemoths. And investor excitement about the transactions could lead to gains for the grocers’ shares. Globe and Mail Sat Feb 23 2013 |
Barnes & Noble chairman to bid for company’s retail assets - Barnes & Noble Inc. Barnes & Noble Inc. Chairman Leonard Riggio has told the board he plans to buy the retail assets of the company including Barnes & Noble Booksellers Inc. and barnesandnoble.com, but excluding the Nook Media business, sending the company’s shares up as much as 26 percent before the bell on Monday. Globe and Mail Mon Feb 25 2013 |
Lowe’s makeover bears fruit; Sandy helps sales - Lowes Companies - LOW-N Lowe’s quarterly results beat analysts’ estimates as sales benefited from rebuilding after Hurricane Sandy and the retailer’s efforts to improve product selection and customer service. Lowe’s, which has lagged behind larger rival Home Depot , is in the middle of a makeover. It has closed locations, curbed openings, cut jobs, streamlined its supply chain and invested in its stores and its online business. Globe and Mail Mon Feb 25 2013 - Montreal Gazette |
Home > Commercial > International CBRE arranges $1b for 27-asset EQR sale - CBRE CBRE Capital Markets’ Debt & Equity Finance group recently arranged multiple loans exceeding a total of $1 billion to finance the acquisition of a portfolio of 27 multifamily assets located in eight markets across the US. CBRE worked exclusively on behalf of the borrower, a joint venture between Goldman, Sachs & Co. and Greystar, to arrange the 27 individual Freddie Mac loans. Globe St. Mon Feb 25 2013 |
European retail real estate rewritten Online shopping may not be the only culprit for the retail market's problems, says Shayla Walmsley. That so many things can be happening to European retail markets at the same time s |
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