Canada

Calgary’s retail real estate sector continues to demonstrate resilience and momentum, says a new report from Barclay Street. The city’s retail real estate market remained one of Canada’s strongest in the second quarter, with overall occupancy holding at 97.0% and vacancy staying near historic lows as luxury retailers, restaurants and U.S. brands continued to expand …

The Manitoba Métis Federation has acquired former National Research Council properties in downtown Winnipeg from the federal government. The acquisition covers two buildings, including an office tower and separate structure contain laboratories, and supports the MMF’s ongoing efforts to revitalize downtown Winnipeg while expanding the group’s commercial real estate portfolio to more than one million …

The Songhees Development Corporation, Esquimalt Nation and Pomerleau have formed a new joint venture that will invest in infrastructure projects in the Victoria, B.C., area and beyond The Group of 3 Ventures Limited Partnership (G3V) will focus on pursuing major infrastructure projects, said the partners. Led by the two First Nations, G3V will initially target …

A Burnaby, B.C., multi-family development site has sold for $6 million through a court sale after receiving unexpected late demand and exceeding the offer price. A B.C. numbered company agreed to purchase the property located in the Edmonds area from lender Desjardins. “What began as a regular day in court for the approval of a …

The Bank of Canada is expected to hold firm on its 2.25% benchmark interest rate when it announces its policy decision on Wednesday. The widely anticipated hold would mark the sixth straight time that the central bank has held its key overnight lending rate. A recent C.D. Howe Institute poll showed that all nine economists …

Equipement St-Germain, with the participation of Fondaction, has acquired heavy-equipment rental business operator Location Alary, giving the purchaser three new locations spanning Greater Montreal and Brockville, Ont. The acquisition of the Terrebonne, Que.-based company expands Equipement St-Germain’s fleet to nearly 740 units and strengthens its position as one of the largest independent heavy-equipment rental operators …

The Bank of Canada is expected to hold firm on its 2.25% benchmark interest rate when it announces its policy decision on Wednesday. The widely anticipated hold would mark the sixth straight time that the central bank has held its key overnight lending rate. A recent C.D. Howe Institute poll showed that all nine economists …

MTY Food Group will close 68 underperforming corporate-owned restaurants over the next six to nine months following a portfolio review, with the closures expected to cost between $10 million and $12 million and affect locations that collectively lost more than $10 million over the past year, the company said Friday. Eric Lefebvre, MTY’s president and …

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 …

Equipement St-Germain, with the participation of Fondaction, has acquired heavy-equipment rental business operator Location Alary, giving the purchaser three new locations spanning Greater Montreal and Brockville, Ont. The acquisition of the Terrebonne, Que.-based company expands Equipement St-Germain’s fleet to nearly 740 units and strengthens its position as one of the largest independent heavy-equipment rental operators …

Hazelview Investments has completed a $150-million first close of its Hazelview Canadian Multi-Residential Fund VI, securing equity commitments from Canadian institutional and private investors for a value-add rental-housing investment strategy focused on supply-constrained markets. The closed-end fund will target purpose-built rental properties in Ontario, Alberta, Quebec and Nova Scotia, with a seven-year investment horizon. Hazelview …

Equipement St-Germain, with the participation of Fondaction, has acquired heavy-equipment rental business operator Location Alary, giving the purchaser three new locations spanning Greater Montreal and Brockville, Ont. The acquisition of the Terrebonne, Que.-based company expands Equipement St-Germain’s fleet to nearly 740 units and strengthens its position as one of the largest independent heavy-equipment rental operators …

The new $159.9-million Angélique-Latimer affordable-housing complex in Montreal’s Saint-Michel area has broken ground. The 281-unit development project is designed to serve as a model for inclusive, sustainable community development. The project, led by the Black Communities Housing Society (BCHS), will include affordable housing, a community campus, neighbourhood commercial space and public areas intended to support …

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, …