Canadian Bubble

L.PR.B : DBRS Reduces Trend to “Stable”

DBRS has announced that it has: confirmed the ratings of Loblaw Companies Limited (Loblaw) and Shoppers Drug Mart Corporation (guaranteed by Loblaw) at BBB after the announcement that Choice Properties Real Estate Investment Trust (CP REIT; rated BBB by DBRS) has entered into an agreement to acquir ...

Canadian home sales drop in January

Ottawa, ON, February 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018. Highlights: National home sales declined by 14.5% from December 2017 to January 2018. Actual (not seasonally adjusted) activity was down ...

Choice Properties to acquire CREIT in $6B transaction

Choice Properties Real Estate Investment Trust (CHP.UN) announced Thursday morning it will acquire Canadian Real Estate Investment Trust (REF.UN)  in a transaction worth about $6 billion. Under terms of the deal, CREIT will redeem all of its outstanding shares for $22.50 in cash and 2.4904 Choice ...

Strata Wind-Up and Sale Process: A Practical Overview

By Connor Bildfell Introduction As reported in a previous blog post, the B.C. Strata Property Act[1] was recently amended to make it easier for strata corporations to wind themselves up. As of July 2016, 80% approval now suffices, provided the resolution is subsequently confirmed by the B.C. Supre ...

GWLRA’s Finkbeiner: EverWest deal ‘logical’ move into U.S.

When GWL Realty Advisors (GWLRA) decided to expand into the United States, president Paul Finkbeiner said the Canadian real estate investment and management firm had two key goals; find a company with a similar mix of assets, and a similar mindset toward management and growth. When it came upon  ...

LaSalle Canada Property Fund launches with $440M portfolio

With Canadian real estate increasingly on the radar of international investors, LaSalle Investment Management has launched LaSalle Canada Property Fund, its first open-ended real estate fund. This 14-storey 70 University Ave., office building on University and Wellington St. W. in Toronto is one o ...

The unloved

Over the next few days and weeks expect lots of ink on what a mess real estate’s turned into. Once the media gets tired of manshaming, it’ll be houseshaming time. Bad sales numbers, falling prices, moisters moaning they paid too much last spring and wrinklies trapped in properties they were to ...

TREB forecasts ‘volatile’ 2018 GTA resale home market

“There will be some volatility in 2018.” So Jason Mercer of the Toronto Real Estate Board opened his address on the Greater Toronto Area (GTA) resale home market as part of Altus Group Data Solutions’ 10th annual state-of-the-market event. “In the first half of the year, we’re going to ...

What it means

Only in Canada would a quarter-point rate increase grip the nation. It’s weird. The folks in Venezuela (inflation 2,350% this year) would laugh at us. Such first-world problems we have. However, there’s a good reason this week’s news matters. Consider those lines of credit secured by real es ...

Toronto mixed-use site a hot commodity

A prime piece of Toronto real estate already zoned for mixed-use development is on the block and attracting interest from a variety of potential purchasers ahead of the offer submission deadline of noon on Friday. These two blocks of redevelopment land at Howard and Sherbourne streets in Toronto a ...