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Latest Alberta & Prairies Stories
Primaris REIT announced Tuesday that it expects nine leased Hudson’s Bay stores located within its retail properties to close. The iconic department-store chain is currently undergoing a restructuring after being placed under creditor protection. Only six of the company’s 96 stores are slated to remain open, but senior secured lenders’ lawyers have warned that all …
The expansion of Regina’s Harbour Landing large-scale development project is at risk due to newly approved zoning restrictions around the region’s airport, The Regina Leader-Post reported. City council approved stricter airport protection zoning, effectively blocking future mid- to high-density residential developments in the area, including the long-planned expansion of Harbour Landing North, according to the …
Latest National Stories
G2S2 Capital has acquired C$600-million in Ravelin Properties REIT’s secured debt. The deal is part of G2S2’s ongoing effort to help recapitalize the financially troubled REIT in which the Halifax-based company holds a 20% minority ownership stake. George Armoyan heads G2S2, which is owned by his family, and chairs the REIT. He led a boardroom …
Brookfield Asset Management has agreed to acquire a majority ownership interest in alternative lender Angel Oak Companies. Financial terms were not disclosed. The move aligns Angel Oak’s expertise in residential-mortgage credit with Brookfield’s US$317-billion credit business, according to the firms. Atlanta-based Angel Oak manages about US$18 billion in assets, specialzing in non-agency residential mortgages through …
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Latest Cross Border News Stories
G2S2 Capital has acquired C$600-million in Ravelin Properties REIT’s secured debt. The deal is part of G2S2’s ongoing effort to help recapitalize the financially troubled REIT in which the Halifax-based company holds a 20% minority ownership stake. George Armoyan heads G2S2, which is owned by his family, and chairs the REIT. He led a boardroom …
Toronto City Council has approved a plan to defer development charges on up to 3,000 new condominium units in an effort to boost housing supply. The program will provide developers with a four-year tax deferral. Citing city staff findings, Toronto Today reported that the program could save developers $19,000 in costs per unit. The publication …
Latest Maritimes Stories
Laundry and cleaning sheet manufacturer Dizolve has opened a new 72,000-square-foot facility in Moncton, N.B. Dizolve said the opening expands the company’s production capacity and reinforces its role as a leader in the sustainable cleaning sheet technology. The new plant will support the company’s growth while creating employment opportunities in Canada, Moncton-based Dizolve added. Dizolve, …
Captiva Verde Wellness Corp. has acquired a 49% stake in Matnaggewinu Development Corporation (MDC), a Mi’kmaq-led entity, to advance a major mixed-use project in the Moncton, N.B., area and other Indigenous economic development. The 55-acre mixed-use development site is approximately six kilometres west of Moncton, near the Trans-Canada Highway. Plans for the site include hotels, …
Latest Ontario Stories
G2S2 Capital has acquired C$600-million in Ravelin Properties REIT’s secured debt. The deal is part of G2S2’s ongoing effort to help recapitalize the financially troubled REIT in which the Halifax-based company holds a 20% minority ownership stake. George Armoyan heads G2S2, which is owned by his family, and chairs the REIT. He led a boardroom …
Toronto City Council has approved a plan to defer development charges on up to 3,000 new condominium units in an effort to boost housing supply. The program will provide developers with a four-year tax deferral. Citing city staff findings, Toronto Today reported that the program could save developers $19,000 in costs per unit. The publication …
Latest Pacific Canada Stories
Northstar Clean Technologies has secured a 15-year lease extension for its Delta, B.C., facility, reinforcing its long-term strategy to develop asphalt-shingle reprocessing sites across North America. The lease extension provides Northstar with the option to retrofit the Delta location, previously a pilot facility, into a commercial-scale operation, said Northstar President and CEO Aidan Mills. The …
Marshalls has opened a new location in downtown Vancouver. Located on the third floor of 798 Granville Street, the 30,000-square-foot store is the discount retailer’s first outlet in downtown Vancouver and ninth in B.C. Another discount retailer, Winners, previously occupied the Marshalls space before moving to another nearby location. The 798 Granville property sits in …
Latest Quebec Stories
The City of Montreal plans to develop 13,500 multi-residential units in the borough of Bridge-Bonaventure. Montreal Mayor Valérie Plante unveiled the high-density housing initiative during a news conference this week. The city is vowing to make the neighbourhood an employment hub that includes affordable housing and green spaces. Plans call for 40% of the project …
Montreal Mini-Storage is getting set to open a new self-storage facility in the city’s Ahuntsic-Cartierville district. The new new 82,000-square-foot facility is scheduled to hold a grand opening on June 1. Located at 500 Sauvé Street West, it will be Montreal Mini-Storage’s 24th location. The facility is intended to serve women in the community and …