Canada

The redevelopment of the former Hudson’s Bay Company store in downtown Calgary is likely to contain a retail component, says a Barclay Street Real Estate broker. Joshua Gill, a senior associate said in an interview that the proposed buyer, Astra Real Estate, has developed retail components with mixed-use residential projects elsewhere in the city. “Based …

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 …

Five First Nations adjacent to LNG Canada in Kitimat, B.C., have received an option to buy and lease back a massive storage tank slated to be part of the facility’s Phase 2 expansion. LNG Canada and its joint-venture participants announced the equity-option agreement with MNT Investments LP, a limited partnership representing the economic development organizations …

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 …

Minto Apartment REIT’s proposed $2.3-billion go-private deal through a joint-venture with Crestpoint Real Estate Investments has received critical approval from the Canada Mortgage and Housing Corporation and certain lenders. The approvals were required before the deal can close. The Ottawa-based REIT announced Thursday that the transaction, to be completed under a standard plan of arrangement …

Five First Nations adjacent to LNG Canada in Kitimat, B.C., have received an option to buy and lease back a massive storage tank slated to be part of the facility’s Phase 2 expansion. LNG Canada and its joint-venture participants announced the equity-option agreement with MNT Investments LP, a limited partnership representing the economic development organizations …

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 …

Hugh Bird has launched in Toronto to help real estate company founders sell part or all of their business as part of the succession-planning process. The company announced that it is an origination and transaction advisory firm focused on helping founders of established operating companies and specialty real estate businesses evaluate full or partial sales, …

RioCan REIT has sold its 50% stake in the multi-family rental tower at The Well in downtown Toronto to Woodbourne Capital, according to multiple reports. GreenStreet reported that RioCan received a price of $155 million. Woodbourne already owned the other 50%. The deal has closed after RioCan announced its intention to sell the Real Estate …

Keel has obtained permission to enter into an agreement to transfer 98 megawatts of existing power capacity to a new data-centre project in Sherbrooke, Que., and agreed to acquire a 100-acre land parcel in the Montreal region. The infrastructure company has secured municipal approval for agreements that would allow it to consolidate power from three …

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 …

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, …