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Lankin REIT acquires Ottawa rental building for $72M

18 hours ago

Lankin REIT acquires Ottawa rental building for $72M

Lankin Apartment REIT has acquired a 258-unit multifamily residential community in Ottawa, parent company Lankin Investments announced this week. The property was acquired for $72 million in a deal which closed last month.

Room to scale up in Canadian student housing market

The Canadian purpose-built student accommodation market is dominated by companies with small portfolios, but companies like Forum Asset Management and Fitzrovia are looking to expand quickly in the sector.

Developers push turn-key option for defence bank HQ

The business community is mobilizing in Montreal to secure the headquarters of the Defence, Security and Resilience Bank; developers are proposing a turn-key solution, a brand new building, to house the new institution that Montreal covets.

B.C. appeals court allows sale of Atmosphere dev.

A judge has confirmed an unfinished B.C. development can be sold. The B.C. Supreme Court ruled in April the project could be sold by way of a credit bid to Romspen Investment, which is partnering with developer Onni on the project.

Empire turns focus to growth with plan for 70 new stores

Empire Co. Ltd.'s CEO is having “a lot of fun” as he steers the grocer toward growth six months into his role. Pierre St-Laurent said Empire is pivoting to opening more stores and expanding its pharmacy footprint.

Zellers opens first comeback store in North York

The iconic discount retailer Zellers will open its first Ontario store in North York on Thursday, expanding a national comeback that began last fall in Edmonton. A second Ontario location will open in Windsor next month. 

Forum celebrates 25 years in business: Building a national legacy from local roots

Forum is marking 25 years of the partnership that built the company. As a privately held Canadian real estate developer with offices in Quebec, Ontario, and Alberta, we pair nationwide reach with a commitment to making a lasting, positive impact.

Sponsored by: Forum

O’Leary data centre firm mulls tapping markets for cash

A data centre company backed by Kevin O’Leary of Shark Tank may turn to the public markets to raise money for proposed projects in Alberta and Utah, according to its top executive.

Calgary looks to develop land by LRT Station

VIDEO: After more than a decade of sitting empty, Calgary city officials are working on a masterplan for the site around the Westbrook LRT station. The city is seeking public input on the area’s vision, with construction expected to begin in 2029.

Updated Quayside plans advance rental-focused first phase

A new round of Site Plan Approval resubmissions has been filed for Quayside Blocks 1B, 1C, and 2 in Toronto’s East Bayfront, advancing the first phase of the new highrise neighbourhood's purpose-built rental and affordable housing program.

London eyes 50% cut to development charges

If the city has its way, London, Ont. builders could see development charges cut by up to 50 per cent as it looks to apply to a new funding program from Queen’s Park and Ottawa.

Dalhousie starts building $67M residence in Halifax

Dalhousie University has begun construction on its first new student residence in more than a decade, with the school saying it has a role to play in helping the local housing crisis.

B.C. to backstop $1B in loans to First Nations-led projects

The provincial government announced June 16 the launch of a $1 billion loan guarantee program for First Nations-led commercial projects. The program will support projects with a loan guarantee of up to 20% of the project’s total capital costs.

Indigenous-led companies acquire Richmond casino resort

The ownership of a Richmond casino and resort has transferred from a publicly operated Canadian gaming company to Indigenous hands, as River Rock Casino Resort was sold to Petroglyph Development Group, as part of a broader series of acquisitions.

Real estate podcasts

Jason Castellan, Skyline: How Skyline built a RE empire, CRE Podcast
Are REITs finally cheap enough to buy?, The Canadian Investor
Where capital is flowing as the housing industry adapts, TUC

Brookfield sells construction company for $650M

Brookfield Business Corp. has agreed to sell Multiplex, the construction company that built London’s Wembley Stadium, to Japan’s Obayashi Corp. for US$650 million. Founded in 1962, Multiplex operates across Australia, the U.K. and Canada.

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