Property developer Cadillac Fairview (CF) and asset manager TD
Greystone Asset Management (TD Greystone) have announced plans to
revitalize major Toronto shopping centre CF Fairview Mall.
According to CF, an estimated $80 million will be dedicated to
revamping 230,000 square feet of existing department store and
other retail space to introduce more brands to the property;create
a new row of restaurants;and improve pedestrian access to the
nearby Don Mills subway station.
Construction is expected to begin this month with completion of
the revitalization project is slated for 2023.
remains a strong real estate investment magnet
CF and TD Greystone are also in discussions with city officials
about rezoning the CF Fairview Mall site to accommodate additional,
mixed-use density to meet the needs of the growing community.Future
development plans may include residential, hotel, and office space
along the periphery of the property.
"This area is undergoing many changes which reflect peoples'
desire to work, live, shop and dine in a dynamic, transit-connected
mixed-use community," said Wayne Barwise, executive vice president
of development at Cadillac Fairview."Our redevelopment plan is
about diversifying CF Fairview Mall and the surrounding land so we
can continue to offer a vibrant destination for people to come
together and enjoy."
"We are excited to be
Ascertaining exact valuations for commercial real estate
holdings is as daunting as it is convoluted, but an American
platform is simplifying the process.
VAL, a cloud-based software that integrates internal and
external applications, is a game-changing model for the commercial
sector of the real estate industry.In essence, VAL predicts
valuations through the duration of the asset hold, be it a decade
or 15 years, by drawing upon myriad sources of data, and in the
process it’s become one of the most efficient cash flow modeling
tools on the market.
“In its bare bones, it tells you the value of your asset today
based on the way it will perform over however long your time
horizon is,” said Stu Sleppin, managing director of Rockport
VAL.“It will allow owners to make better informed decisions.Just as
someone underwrites a loan to buy a house, they will look at your
financials and make a decision;VAL does the same thing with a
commercial real estate asset.”
In fact, even banks use VAL to determine a commercial property’s
Sourcing building, tenant and construction data compiled over
years, VAL is, simply put, disrupting the commercial real estate
industry like few things before it.VAL’s calculation engine is its
key, says Rockport VAL’s Timothy Benz, director of sales.
Bridgemarq Real Estate Services has announced that it filed its
annual information form, management information circular, and
related annual meeting materials on SEDAR.
In the filings, Bridgemarq set its annual meeting for May 7,
2019 in Toronto.The term of Simon Dean as director at Bridgemarq
will also expire on that day, and he has announced that he will not
be seeking re-election to the board. Brookfield’s board
extended thanks Dean for his contributions and wished him well his
Read more:The new
investment vehicles that’s driving up returns
To replace Dean, Bridgemarq’s board has proposed Colum Bastable
as a director-nominee to be considered for election at the annual
meeting.Bastable has over 40 years of experience in the real estate
services industry, including his recent role as chairman of Cushman
and Wakefield Canada, a leading provider of commercial property
brokerage services.Further details about Bastable can be found in
the management information circular, which is available for
download on SEDAR.
Bridgemarq is a leading provider of services to residential real
estate brokers and has a network of over 18,000 realtors.The
company operates in Canada under the Royal LePage, Via Capitale,
and Johnston &Daniel brands.
Are you looking to invest in property?If you like, we can get
one of our mortgage experts to tell
Constellation HomeBuilder Systems, a provider of home building
software and services, announced the acquisition of online listing
With the common goal of connecting buyers, builders and real
estate agents, the NewHomeListingService.com team will be joining
Constellation HomeBuilder Systems to further expand the most
comprehensive homebuilding and land development platform in the
Read more:Technology disrupts commercial real
NewHomeListingService.com will be integrated with the NEWSTAR,
FAST, and BuildTopia enterprise resource planning platforms of
Constellation HomeBuilder Systems.The integration will allow data
to sync in real-time so that prospective buyers have access to the
accurate and updated information.
"This acquisition provides a growth opportunity for both
businesses and supports our strategy to help builders manage their
business more successfully,” said Chris Graham, vice president of
Constallation HomeBuilder Systems.“Promoting new homes and condos
is easier than ever before.As builders look for more effective ways
to connect with homebuyers, we will be well-positioned to support
them on that journey."
"Constellation HomeBuilder Systems offers a tremendous
opportunity for NewHomeListingService.com to further expand its
service offering in Canada and the United States," said Milo
Anderson, founder of NewHomeListingService.com."Joining
Constellation creates the perfect synergy allowing builders to get
the most exposure for their new homes and condos in the most
Are you looking to invest in property?If
Air-tight compliance is the key ingredient to syndicating
mortgages and a nascent Toronto firm is paving the way forward that
sector of the real estate industry.
“We’re a community of investors and partners who only underwrite
deals we feel are good for our investor base, and how we do that is
to make sure we only get compensated when the investor can generate
a principal return from their investments,” said Luan Ha, founder
and CEO of Fundscraper.
Fundscraper arranges bridge financing for large developments on
first, second, or combination, mortgages between one and three
years, and it’s setting a new standard by using technology to both
reduce costs and protect investors.Using a complex technological
algorithm to assess potential investors’ suitability for syndicated
mortgages, Fundscraper is also in the business of advising various
mortgage investment entities.
The key, says Ha, is through harnessing technology.
“We use technology to enhance our ability to drive data out of
our suitability assessments and, therefore, produce more holistic
and accurate suitability assessments,” he said.“We use our data
models to figure out whether a project fits within the time horizon
or risk tolerance or investment concentration threshold of this one
particular investor.We make it a point that our KYC [Know Your
Customer] are done through what we call our
A 10-year agreement cemented between the governments of Canada
and Alberta will give rise to more affordable housing units in the
province over the next decade.
The deal involves the investment of $678 million in the renewal
and expansion of Alberta’s low-cost housing, with both governments
contributing $339 million each for the long-term funding.
The agreement – which will greatly support Alberta’s initiatives
concerning housing repair, construction, and affordability – comes
in addition to the more than $638 million in existing 10-year
federal housing investments in Alberta, coursed through the Social
The Liberal administration has invested almost $510 million in
Alberta’s housing since November 2015.The oil industry crashes of
recent years have hit the province’s home buyers and consumers
sector recovery propelling Western Canada’s rental homes
“The new agreement marks the beginning of a partnership that
will be supported by long-term and predictable funding starting
April 1, 2019,” the governments stated in the announcement.
“Alberta’s first Affordable Housing Strategy was launched in
2017 with the goal of building and renewing 4,100 units, and that
goal is about to be achieved and exceeded.This new agreement means
Alberta can continue our bold approach to address the housing needs
of Albertans,” Alberta Minister of Seniors and
Major high-rise office projects accommodating more tech tenants
and greater commercial investment volume are scheduled to commence
soon in Toronto and Vancouver.
Leading developers Allied Properties REIT and Westbank have
announced that the construction of the office towers – which are
predicted to “reshape” these markets’ downtown areas – will pave
the way for greater tech industry presence in Canada’s largest
Tech companies have been cited by observers like Marcus
&Millichap as a major pillar of stability form the office
In Toronto, the 264-metre, 1.7-million-square-foot Union Centre
building will be built near Union Station.
“[Union Centre] is a sign of what Toronto is becoming,” Westbank
chief executive Ian Gillespie told The Globe and Mail.“The
city isn’t just about finance any more.It’s about everything:tech,
culture and a variety of other pursuits.”
Read more:Commercial property market heavily leans upon
In Vancouver, Allied Properties REIT and Westbank will be
erecting a 500,000 sq.ft.tower beside BC Place.This project is
expected to become one of the city’s largest office buildings so
Tech’s influence in Canadian commercial real estate has been
predicted to grow even stronger in the near future, with major
players like Microsoft, Google, and Amazon likely spending billions
in office expansions and hire tens
Montreal’s luxury housing market is expected to be the strongest
of the spring season.
According to a new report from Sotheby’s International
Realty Canada, the city’s hot real
estate market shows nary a sign of regressing.On the heels of a 20%
year-over-year increase in sales over $1 million in 2018, Sotheby’s
expects a sales record this spring.
“With strong economic and political fundamentals driving local
confidence and demand, top-tier sales escalated in the first two
months of 2019,” read the luxury housing report.“Overall, $1m-plus
residential real estate sales (condominiums, attached and
single-family homes) were up 6% year-over-year to 111 units sold in
January and February.Two luxury properties sold over $4m during
this time, up from zero the same months in 2018.”
Of particular significance, luxury condos in Montreal surged 53%
year-over-year through January and February 2019.During January
alone, transactions in Montreal totalled $1.63 billion, which is an
18% lift over the same month in 2018.
“We expect the Montreal market to continue with its very healthy
year-over-year increase in activity,” Sotheby’s President and CEO Brad
Henderson told CREW.“It will add somewhat to the upper pressure to
price, particularly in the central region.We don’t see risk to that
forecast, with the possible notable exception of a foreign buyer
Montreal mayor Valérie Plante said that the city government will
consider imposing a tax on foreign home buyers if the measure will
help guarantee long-term affordability.
Such a levy has already been implemented in Toronto and
Vancouver, to considerable effect.
“Here in Montreal, this is not where I’m going for now, though
we are really checking on the market on regular basis,” Plante told
“If needed, we might go there, but right now we’re using
different tools that we have to make sure we have this balance of
creating social and affordable housing.But for that, I need both
provincial and federal help.”
For some time now, Montreal has outpaced Toronto and Vancouver
in terms of home price growth, according to the latest edition of
the Teranet–National Bank of Canada House Price Index.
buyers now prefer Quebec, Alberta, and Nova Scotia
In February, Montreal prices increased by 0.36% from the
previous month and 5.15% year-over-year, to reach a historic high
for the month.In comparison, Toronto prices fell by 0.22% from
January to February, and grew by 3.56% year-over-year.Vancouver’s
declined by 0.68% monthly, and shrunk by 1.11% annually.
Overall prices across Canada decreased by 0.4% month-over-month
in February, and were only 1.87% larger than
An influx of migrants is boosting Prince Edward Island’s home
construction activity, making the province emblematic of Atlantic
Canada’s residential real estate strength this year.
The latest analysis by the Conference Board of Canada stated
that the region will enjoy strong economic performance in 2019, and
P.E.I.is set to be the leader with its 3.2% growth – indeed,
surpassing the rest of the country.
“Over the next two years, the Island should outpace nearly every
other province in the country when it comes to its rate of
population growth.Consequently, the construction industry is set to
surge this year, thanks to new housing developments on the Island,”
the Board stated, as quoted by The Canadian Press.
“Add to that the impressive tourism prospects and the elevated
demand for P.E.I.products boosting exports and manufacturing, and
economic growth in the province should continue to outpace the
Canadian average -- a feat that P.E.I.has achieved every year since
Brunswick property tax stifling investment in apartments
As a whole, Atlantic Canada’s home-buyer purchasing power will
benefit from the region’s robust economic growth this year, largely
propelled by service-sector stability, rising exports, and growing
The Board pointed at rising oil production as a major
contributing factor to Newfoundland and Labrador,
In today’s real estate milieu, where cash flowing properties are
becoming more sporadic by the day, the rent-to-own model is
emerging as a superior strategy with a favourable buy-in.
Helping tenants take eventual ownership of a property by giving
them a stake in their own success, rent-to-own investors only have
to put 15% for a down payment, enlisting their tenant to put up the
“This is where a lot of the profitability of rent-to-owns is
coming from,” said Rachel Oliver, managing partner of Clover
Properties.“Eighty percent comes from the bank, 5% from the
tenant-buyer and you’re only in for 15% at a time when you can’t
buy a residential property for less than 20%, but we found a way to
“The sweet spot for a lot of rent-to-own properties would be an
initial investment of $70,000 to 90,000.”
Rent-to-owns are ideal for supplementing income right
away.Rather than banking on long-term appreciation the way most
downtown Toronto condominium investors do, RTOs can yield anywhere
from $600 to $900 a month in cash flow, after expenses.
But the beauty of rent-to-own investment properties is that you
can leverage your personal residence or existing rentals to start
building a rent-to-own portfolio that actually pays for your
lifestyle.For example, a simple
This year, national home sales activity will likely fall to its
lowest point since 2010, according to the Canadian Real Estate
Association’s updated outlook.
The prediction followed the considerably weaker nationwide sales
in February, with a 4.4% annual decline and a sharper 9.1% drop
from January, The Canadian Press reported.
Aggregate nationwide sales in 2019 will shrink by 1.6% to
450,400 transactions, CREA cautioned.Meanwhile, 2020 transactions
will see a 2% gain to reach 459,400 sales.
The average sales price across Canada last month was $468,350,
falling by 5.2% annually.Excluding the elevated-cost environments
of Toronto and Vancouver, the average price stood at a little under
Read more:Significant headwinds to impede 2019 housing
Data from the Canada Mortgage and Housing Corporation also
showed that these developments have accompanied a slowdown in new
home construction nationwide.
The seasonally adjusted annual rate of housing starts declined
to 173,153 units in February, markedly lower than the 206,809 units
in January and failing earlier predictions of 205,000 units.
CMHC cited mortgage rate hikes and economic sluggishness as
major factors in the lower starts volume.
“Although housing starts seemed to be unscathed by the new B-20
regulations that took effect in January 2018, higher borrowing
costs and tougher mortgage qualifying conditions
While smart cities may be imminent, how they’re developed is
still a question mark. Fortunately, Vancouver and Surrey will
soon have answers.
Both cities are exploring how to develop their respective
corridors with tomorrow’s technologies by using superlative
international projects as inspiration.The cities’ shared goal of
improving residents’ lives will be realized through a competition
involving companies from all over the world, with the winner
receiving $50 million to fulfill their visions.
Jesse Adcock, the City of Vancouver’s chief technology officer,
says the chosen projects will have to improve citizens’ safety and
mobility, while reducing greenhouse gas emissions and
“We provided the physical characteristics in each city’s
corridor and asked the industry how their technology projects will
solve particular problems,” she said.“We had over 172 proposals
come in from all over the world that represent hundreds of
projects, and we managed to shortlist them down to 55 vendors and
Residents, businesses and other stakeholders have also been
encouraged to provide as much
input as possible around six
themes put forth by Infrastructure Canada, and while it’s still too
early to describe what smart cities in Vancouver and Surrey will
look like, they will incorporate intelligent traffic and data
collection systems, censors, autonomous shuttles and last mile
“By having a strong
Montreal’s home price growth is considerably outstripping the
national average as well as the pace set by the leading markets,
according to the Teranet–National Bank of Canada House Price Index
covering February 2019.
The city’s real estate prices increased by 5.15% year-over-year
in February, reaching a historic high.To compare, the Teranet HPI
found that overall prices nationwide saw only a 1.87% annual
increase, which was noted to be the third smallest non-recession
increase behind July and August of last year.
“The market peak was reached in September 2018, and prices are
down 1.43% from there,” Better Dwelling stated in its analysis of
In addition, Toronto saw a 3.56% annual increase, while
Vancouver suffered a 1.11% shrinkage during the same period.
Read more:Montreal’s affordability drives much of its
The Montreal real estate segment is also benefiting from a
strong economy and a vibrant job market, the combination of which
is boosting purchasing power of the city’s working-age Canadians,
according to the Canada Mortgage and Housing Corporation.
“The Montreal and Québec areas have shown strong economic growth
and particularly vibrant job markets in the last two years.This
certainly contributed to the financial stability of households and
supported their ability to make their mortgage payments on time
Commercial property investment in Alberta significantly grew in
Q4 2018, largely fuelled by the province’s two most important
markets, according to Altus Group’s latest analysis.
Calgary saw its third consecutive year of total investment
growth, reaching an annual total of $3.7 billion.However, Altus
Group warned that considerable uncertainty remains.
“2018 saw increases in investment across all sectors when
compared to the previous year, however this has not translated into
the higher volumes seen in the past,” Tatterton explained.
“What it has demonstrated is that the market is continuing along
a path of recovery, and until some of the uncertainty surrounding
the greater economy is resolved, it is likely that 2019 will follow
a similar path as 2018.”
Calgary’s office segment helped propel the market to its stellar
performance, with its 21% annual increase in investment value to
reach $960 million.The industrial sector also experienced its best
year over the past decade, with 132 deals representing an
investment total of $758 million.
The city’s apartment investment also grew by 8% last year, with
Q4 accounting for 68% of this volume.The ICI land market had a 27%
increase, while residential investment went up by 18%.
Read more:Commercial property market heavily leans upon
Meanwhile, Edmonton’s commercial activity