Canadian Commercial, Residential, Green Real Estate, Infrastructure, REITs, REOCs ... The Canadian Built Environment

Hotel investment hits first-quarter record of $360-million

Wed, 16 May 2012 16:09:29 -0700

There was $360-million in hotel investment activity in the first quarter of 2012 as 20 hotels traded hands, setting a new dollar record for the three-month period, according to Colliers International Hotels.

While the number of transactions for the period was down from 22 a year earlier, the dollar activity was up from $159-million for the same period in 2011, the research firm said in a report.

Plazacorp to spend $12.2 million on retail property development in 2012

Wed, 16 May 2012 11:11:22 -0700

Plazacorp Retail Properties Ltd. of Fredericton reported a year-over-year increase in both revenues and funds from operations, recording $14.643 million in revenues for the three months ending March 31. Revenues for the same period in 2011 were $13.278 million. As of March 31, the firm committed $12.2 million to new development this year.

Building safety should be important to everyone

Wed, 16 May 2012 11:06:31 -0700

Builders, contractors responsibleto make sure structures are safe. A few weeks ago, I got a letter from the International Code Council Foundation (ICCF). Sometimes letters make me nervous; they're usually from people who are upset over something I've said. But this time, it was a good letter - a really good letter. The ICCF wanted to let me know I had been chosen to be the 2012....

Atlanta airport opens Maynard Jackson international terminal

Wed, 16 May 2012 10:56:25 -0700

The world's busiest airport gets bigger today when Hartsfield-Jackson Atlanta International Airport opens its new international terminal that's being touted as the city's "new front door" for the world. The $1.4 billion terminal adds only 12 gates to an airport that already has 195. But local officials say the new terminal is necessary to keep Atlanta and its airport at the forefront of global aviation.

BOMA Awards honour Ottawa's best in commercial buildings

Wed, 16 May 2012 10:47:00 -0700

A major Orleans shopping centre, a printing bureau and several government buildings were among the recipients of commercial real estate awards this week. The Ottawa branch of the Building Owners and Managers Association, better known as BOMA, feted more than a dozen companies and individuals this month at the Ottawa Convention Centre.

Not thinking green will hurt Canadian businesses internationally: NRTEE panel

Wed, 16 May 2012 10:01:22 -0700

Canadian businesses are facing "significant economic repercussions" that will affect the country's growth and international competitiveness because of inadequate policies to ensure environmental stewardship through the lifespan of products, says a report released Wednesday by a doomed federal advisory panel.

The research by the National Round Table on the Environment and the Economy was requested last year by Environment Minister Peter Kent and included multiple consultations with officials from government, businesses and academics.

Big-box retailers jump on green bandwagon, sort of

Wed, 16 May 2012 08:13:52 -0700

Canada's newest IKEA will open soon in Winnipeg, and citizens have eagerly begun counting down the days to their first visit. While Manitobans generally view shopping at big-box stores as a chore, they seem to be absolutely giddy at the prospect of assembling their homes with an Allen key. IKEA's extreme popularity is based in no small part on the store's image as a place where value and good values come together.

Urban agriculture idea brings farms to high-rises

Tue, 15 May 2012 15:48:17 -0700

Multi-storied buildings, apart from providing residential and commercial space, can also take care of the city's basic food needs.

Pune has grown to encompass large tracts of agricultural land in its backyard which provided supplies of vegetables and fruits. Now, it gets them from the corners of Pune district and far-off places in South Maharashtra.

DIY Gardening: How to create a Vertical Wall Garden

Tue, 15 May 2012 12:32:37 -0700

Starbucks Thrives on Greener Ideals for Business

Tue, 15 May 2012 12:26:49 -0700

Let�s face it: it�s hard for a global corporation to play nice with us green folk. By sheer volume alone companies like Wal-Mart, General Motors and HP produce enormously weighty carbon footprints; but by the same token, any small moves they make to reduce their environmental impact can show pretty awesome results, too. Gettin� my fix at a local Starbucks in Vancouver�s Kitsilano neighbourhood the other day...

Caisse delves further into infrastructure projects

Wed, 16 May 2012 08:51:25 -0700

The Caisse de d�p�t et placement du Qu�bec is deepening its involvement in infrastructure projects through a partnership in a consortium making a $1.25-billion (U.S.) takeover offer for an Australian gas pipeline owner.

But Canada�s largest fund manager and its partners may have a fight on their hands if a rival bidder ups the ante.

Civic buildings boost Oshawa�s economic engine

Tue, 15 May 2012 11:16:45 -0700

Oshawa, which has seen its civic fortunes go up and down with Ontario�s auto industry for the past century, is once again revving up for the future.

Over the past decade, the city has marked new milestones as several innovative pieces of institutional real estate have opened, bringing back life to the city core.

Artis + Alberta = Acquisitions

Mon, 14 May 2012 11:42:14 -0700

Artis REIT is acquiring another half-million square feet of downtown Calgary office property, eager to improve its portfolio in that hot market. "I know you get swings in the Calgary office market," says Armin Martens, Artis president and CEO, "but I am optimistic that there are several years of good runway ahead for any landlords of Calgary office properties."

Commercial Leases: Limitation Periods for Default Proceedings - 2, 6, 10 Years?

Mon, 14 May 2012 10:38:33 -0700

How long does a commercial landlord have to bring a claim against a tenant or guarantor/indemnifier following a lease default and demand on the guarantee/indemnity? In order to answer that, let us look at a case involving a guarantee under a mortgage that went into default.

This old apartment building typifies Vancouver�s struggle to renew rental housing

Mon, 14 May 2012 08:08:21 -0700

The listing for Granville Villa, a 65-unit apartment building in Vancouver, says clearly, �This property could eventually become a prime high-rise development site.� When that eventually might manifest itself, however, isn�t so clear, noted a principal of the real estate company that listed the four-decades old building for an $18.5 million asking price earlier in May.

Commercial Leases: Limitation Periods for Default Proceedings - 2, 6, 10 Years?

Mon, 14 May 2012 12:27:33 -0700

The Legal Corner by Darrell Gold LLB

Mon, 14 May 2012 12:25:53 -0700

Artis + Alberta = Acquisitions

Mon, 14 May 2012 12:07:17 -0700

CREIT Ups Stake in Dartmouth Shopping Centre

Mon, 14 May 2012 12:05:02 -0700

Canadian Real Estate Investment Trust has purchased another 25% interest in parts of the Dartmouth Crossing Shopping Centre for $41 million, increasing its holding in the open air shopping centre to 75%. CREIT had owned a 50% interest in portions of Dartmouth Crossing made up of fully developed income producing property and future development land.

Newmark Knight Frank Devencore Expands West of Toronto

Mon, 14 May 2012 12:03:47 -0700

Office and industrial space advisor and brokerage Newmark Knight Frank Devencore has opened a new office to service clients in the western part of the Greater Toronto Area. Newmark Knight decided to launch its GTA West office in Etobicoke for a couple of reasons: its downtown Toronto office is bursting at the seams, it wants a bigger share of business from the burgeoning suburban market and ....

Vancouver council limits developer incentives to rental-only construction

Wed, 16 May 2012 16:00:04 -0700

Vancouver council is going to restrict incentives to developers who build rental housing in this high-cost city to curtail some subsidies that soared to as much as $70,000 per unit.

The Vision Vancouver-dominated council, which has been peppered with criticism over its rental-incentive program, decided Tuesday to limit it to developers who are building rental-only buildings. The program, which began two years ago, had been open to those trying to mix rental units with condos for sale in the same building.

Ground-breaking event kicks off construction for first condominium in exciting new Canary District

Wed, 16 May 2012 15:50:35 -0700

A team of award-winning architects, city officials and developer Dundee Kilmer Developments L.P. executives broke ground on Block 11, the first market condominium building of the Canary District to be constructed.

Following the Toronto 2015 Pan/Parapan Am Games, the area will transition from an Athletes' Village into Toronto's most ambitious city-building project in generations, with the cutting-edge residence rebranded as the Canary District Condominiums. Sales will begin in June, 2012.

Ontario cottage country feels drag of eurozone crisis

Wed, 16 May 2012 15:48:02 -0700

Dorset-area realtor Ellen Wiley watched with dismay last summer as the Greek eurozone crisis and U.S. economic uncertainty washed up on the shores of Ontario cottage country.

While buyers were out in droves last spring, much like the black flies, they had pretty much died out by summer �and we staggered through the rest of the season,� says Wiley, a Coldwell Banker agent in the Haliburton County and East Muskoka regions for 25 years.

Vancouver�s real estate swoon deepens

Wed, 16 May 2012 15:34:50 -0700

Mayur Arora is seeing something few would have expected in Vancouver�s real estate market � people walking away from deposits on houses, convinced prices will fall further.

�It happened twice in the last month. One [deposit] was $75,000 and one was a $20,000 deposit, the guys just walked away from it,� said Mr. Arora, who runs Oneflatfee.ca in Surrey, B.C. �They are going to wait it out. So they lost $75,000 and $20,000, but if the market comes down $150,000 on a $1.5-million house, that�s not uncommon.�

Vancouver home sales down in April while rest of Canada soars

Wed, 16 May 2012 15:06:59 -0700

Home sales in April gained 0.8 per cent compared with March, boosted by strength in Toronto and Calgary, the Canadian Real Estate Association said Tuesday. On a year-over-year basis, the association said there were 49,480 homes sold in April, up 11.5 per cent from 44,370 a year ago when sales slowed following a tightening of mortgage lending rules that came into effect in March 2011.