Canada Homepage - Green Street News

Fundraising

Cameron Stephens launches $70m debt fund targeting Western Canada

Eyeing high-quality commercial mortgage opportunities across Alberta and British Columbia

Office

Downtown Toronto office vacancy rate slips for second straight quarter: Newmark

“The downtown office market is likely in recovery,” Newmark said in a new report

Office

Ottawa office on the block for $45m

275 Slater Street is in play at around a 10% cap rate
Multifamily

Prime Properties acquires downtown Montréal mixed-use building for $25m

The fully leased property is beside Concordia University
Multifamily

Lankin picks up new multifamily asset in Edmonton

Greenstone Park has 89 units
Multifamily

Value-added Scarborough apartments trade for $28m

The 106-unit building is near University of Toronto’s Scarborough campus
Office

Ottawa office, retail complex listed for $18m

Canderel has put 118 Sparks Street on the market
Finance

Nesto Group launches commercial mortgage origination in Québec market

Charles-André Roy and Charles-Benoît Parent poached from CBRE to lead the initiative

Spotlight

Office

Oxford buying out CPP Investments in office portfolio for $730m

The deal values the seven buildings at $1.5bn
Industrial

Q+A: Bill Bates and Patrick Gemma of Prologis on Vancouver expansion

City needs to modernize its logistics facilities, Bates says

Round-up

Europe “at front of global correction cycle” as big fund managers lead market

Slight dip in total AuM last year reflects positive shift, according to Inrev analysis
Kelowna shopping plaza floated for $38m

Plaza 33 on the east side of the city is now on the market
Chicago apartment tower out for loan

Canada-based group looking to line up around $162m (US$118m) of debt
Realstar and QuadReal complete £62m refi for Wembley BTR scheme

Green loan from ING secured against JV’s Uncle Wembley Gardens project
Clifton Blake merges with Metropolitan Commercial Realty

The brokerage has been rebranded as CB Metropolitan Commercial
European retail investment to rise as “flight to prime” continues

Rental growth expected across prime retail markets in Europe and globally, Savills says
Fiera bolsters European property debt team

Ignacio Ruíz Gallego joins from CBRE as investment associate
Bell plans national AI data-centre network, starting with BC ‘supercluster’

The first facility is expected to come online in a matter of weeks

Toronto

Retail

King West retail strip with development potential on the block

The properties could fetch a combined $35m
Investment

Takeaways from the Connect Canada conference

New investment opportunities are to be found amid market, geopolitical uncertainty
Industrial

Vaughan industrial building floated for $12m

CanFirst acquired the small bay property through a $222m portfolio acquisition in 2022
Finance

Harlo Financial refis $11m in debt for Forest Hill development

The debt is backed by an assembled development site in Toronto
Multifamily

Lankin buys Brampton apartments in largest GTA resi deal YTD

The 416-unit portfolio traded for roughly $317,000/unit

Vancouver

Development

Burnaby development site up for sale or JV offers

Square Nine Developments is the vendor
Student Accommodation

Metro Vancouver student residence hits the market

The property has direct transit access to SFU
Development

Cenyard buys full interest in 2 properties from JV partner

The properties were part of a joint venture with Landmark Premiere Properties
Finance

Vancouver retail, office complex secures $100m financing

The debt values City Square Shopping Centre at $211m
Distress

Vancouver multifamily building sold in court-ordered sale

The parcel is one of several distressed land assemblies in the city

Montréal

Multifamily

Luxury Westmount tower trades for over $24m

Manoir Heather changes hands for the first time since 1965
Buyer sought for Montréal suburb warehouse

Zoning allows for an additional 45,000 sq ft industrial space
Development

Groupe HD, Fondaction acquire east-end Montréal site for $57m

The partnership is planning a 1,200-unit resi project valued at $425m
People

Desjardins Global Asset Management real estate head Tony Roy retires

He oversaw the creation of the $250m DGAM Real Estate Fund
Industrial

Broccolini sells Baie D’Urfé industrial site for $24m

Second-largest industrial transaction in the Greater Montréal Area so far this year

People

Anderson to take over as MD at CBRE Edmonton

Succeeding Young, who will lead the local capital markets team
King Street recruits Brookfield managing director

Exec is moving on after more than a decade
Colliers promotes Garrigan to executive MD of Ontario

He’s been with the brokerage for over 20 years

Corporate

Q+A: Ontario Teachers’ European head sets out its investment gameplan

Canadian giant on the hunt for direct deals, new local operating partners and weighing up new asset classes
Multifamily

Q+A: Daniels Corp.’s Cohen on the cost of not building accessible

With an aging population, accessible design is drawing interest
Multifamily

Q+A: Realstar and QuadReal bosses: “It’s been a busy couple of years”

Realstar’s Ryan Prince and QuadReal’s Jonathan Dubois-Phillips on the Canadian joint venture’s investments and residential plans

UK & Europe

Industrial

Tritax launches new London fund with £1.5bn ambitions

Former AIPUT fund to expand focus
Multifamily

Ashen backs land promoter in second corporate deal

Alex Price and Steven Wright’s firm to fuel growth of Merrow Wood
Industrial

Global Gate snaps up €22m Frankfurt furniture warehouse

Dietz offloads 20,500 sq m property
Corporate

Seven Peaks and Sousou Connect merge

Pair combine to create London-based real estate capital advisory firm
People

Battersea Power Station names new interim chief executive

Appointment confirms departure of Donagh O’Sullivan after a year in the role