Canada

Calgary apartment-condominium prices fell 9% in June to a benchmark price of $299,000 as the overall market experienced a sales slowdown, says the local real estate board. A surge in high-density housing supply continued to soften the city’s resale market, said CREB in its monthly market report. June home sales totalled 2,197, up from May …

Leyad has signed new leases, achieved redevelopment milestones by completing projects and advanced new experiential-entertainment and grocery developments at shopping centres across Canada as part of its strategy to reposition retail properties and boost customer traffic, the company announced. The Montreal-based company said the initiatives include new entertainment destinations at Pen Centre in St. Catharines, …

Beedie has broken ground on a major industrial project that will span more than one million square feet, the South Campbell Heights Business Park in Surrey, B.C. Located at 19084 20th Ave., the project will serve as the gateway to the South Campbell Heights industrial area and underscores Beedie’s long-term investment in Surrey, said the …

AutoCanada has sold three B.C. automobile sales and repair dealerships for a combined price of $32.2 million. The Edmonton-based dealership and collision-repair company sold Island Chevrolet Buick GMC in Duncan, B.C., Abbotsford Volkswagen in Abbotsford, B.C., and Chilliwack Volkswagen in Chilliwack, B.C. Buyer details were not disclosed. The proceeds comprise $28.8 million for goodwill and …

Brookfield Asset Management and the Canada Pension Plan Investment Board have agreed to take LXP Industrial Trust private in an all-cash transaction valued at approximately $5.2 billion, including net debt and preferred equity. West Palm Beach-based LXP owns one of the largest portfolios of warehouse and logistics facilities in the U.S., comprising approximately 53 million …

AI is completely changing the multi-family real estate decision-making process, says Yardi’s head for Canada. Multi-family investors, developers and operators can no longer base their decisions by using the conventional method of reviewing results from the past five to 10 years and applying them to the next five to 10 years, said Peter Altobelli during …

Brookfield Asset Management and the Canada Pension Plan Investment Board have agreed to take LXP Industrial Trust private in an all-cash transaction valued at approximately $5.2 billion, including net debt and preferred equity. West Palm Beach-based LXP owns one of the largest portfolios of warehouse and logistics facilities in the U.S., comprising approximately 53 million …

Clarke has revamped its own, Ravelin Properties REIT’s, and Holloway Lodging Corporation’s senior executive teams amid a commercial real estate integration. The changes, effective Wednesday, are intended to strengthen operational leadership across Clarke’s residential, hotel and commercial real estate businesses by expanding executive responsibilities and decision-making authority, said the company. The moves come after Clarke …

CGC’s new $210-million Wallboard plant near Calgary will eliminate tariffs and set the stage for the company’s future long-term growth. The recently opened facility will also greatly reduce emissions, said Steve Youngblut, CGC’s president and CEO, in an interview with Connect. “That plant was built really for us to control our own destiny in Western …

Lululemon has opened a distribution centre spanning more than one million square feet in Brampton, Ont. Lululemon has opened a new automated distribution centre spanning more than one million square feet in Brampton, Ont. With the opening, the company has expanded its North American e-commerce fulfillment network and created new opportunities for employee training and …

The town council in Oakville, Ont., has unanimously approved the Rose Corporation’s official plan and by-law amendments for a 5,600-residence mixed-use project on a former General Electric property. The approval clears a major planning hurdle for the proposed 27-acre mixed-use redevelopment at 420 South Service Road East, said the company. The former General Electric manufacturing …

Westmont Hospitality has agreed to purchase the iconic Fairmont Le Château Montebello through a court-supervised process, according to a published report. TourismExpress reported that Westmont has agreed to buy the hotel for an undisclosed price as part of a receivership sale. Colliers is acting as exclusive advisor to PricewaterhouseCoopers (PwC), which was appointed receiver of …

Metro has agreed to sell its industrial bakery in Baie-D’Urfé, Que., to FGF Brands for $90 million. The companies said the transaction is part of Metro’s strategy to focus on its core food and pharmacy retail and distribution businesses while simplifying its operating model. The large-scale production facility is currently owned by Metro subsidiary Première Moisson. Upon …

Wesbild has halted a planned six-tower, 2,000-unit multi-residential development in Port Coquitlama, B.C. The master-planned project, known as PoCoPlace, was slated for the corner of Lougheed Highway and Westwood Street and would have included significant retail space and amenities. Phase 1 had been slated to include a 37-storey rental tower and a 35-storey condominium tower, …