Canada

Edmonton-based Leston Holdings has acquired the Pinnacle, a 26-storey apartment tower at 10127 121 Street NW, for $61 million. The Jasper Avenue property contains 249 rental apartments and a 25,000-square-foot retail podium. Leston said it plans to revitalize the commercial space, though it did not disclose a budget, construction schedule or details about the proposed …

An Edmonton office tower has been placed in receivership after its owners amassed $44.6 million in debt and struggled with vacancies, missed payments and unpaid obligations. The Court of King’s Bench of Alberta appointed AlixPartners Restructuring receiver of WSP Place on Aug. 14. The 12-storey building at 10909 Jasper Ave. is owned by Luxor Land …

One of Kelowna’s last large-scale waterfront redevelopment sites has changed hands following a court-ordered sale tied to Vancouver developer Minglian Group. The 1.295-acre property at 3854 and 3858 Truswell Rd. sold for $8.5 million, according to Kelowna-based real estate appraisal and consulting firm NCA Commercial. Colliers had marketed the site for $9.98 million. The purchaser …

A new $750-million export logistics hub at the Port of Prince Rupert can move up to 400,000 twenty-foot equivalent units annually at full operation, substantially expanding Canada’s Pacific export capacity. CANXPORT, located at the southern end of Ridley Island, officially opened Friday following a two-year construction program. Operated by Montreal-based Ray-Mont Logistics, the rail-to-container transloading …

Lululemon is applying the brakes to its North American real estate program as weakening sales force the Vancouver-based athleticwear retailer to reassess expansion costs. The company now expects 35 net new stores globally in 2026, down from 40 in its previous forecast. Only about 10 openings are planned for North America, including seven in Mexico, …

Leyad has completed the acquisition of a nearly $300-million portfolio of Loblaw-leased retail properties spanning all 10 provinces, which it calls Canada’s largest completed retail real estate transaction of 2026. The deal expands Leyad’s national footprint, adding 22 single-tenant properties acquired from an unidentified U.S. vendor. It follows Leyad’s March purchase of seven Loblaw-leased stores …

Vital Infrastructure Property Trust, which owns 104 health-care properties globally, has secured a $500-million senior unsecured credit facility, giving the REIT flexibility to fund acquisitions and other investments. The facility replaces a $370-million secured credit line and matures in August 2031. The shift provides $130 million of additional borrowing capacity without requiring Vital to pledge …

Brasswater, a Montréal-based real estate investment, development and management firm, has spent about US$72M on two properties as it expands across the U.S. Sun Belt. The privately owned company paid about US$50M for Cross Country Plaza at 3201 Macon Rd. in Columbus, Ga. The 304,735-SF shopping centre is 95% leased to 39 retailers and generated …

Montreal-based Kruger is moving a proposed investment of up to $700 million at its Corner Brook Pulp and Paper complex into environmental review, advancing a plan to reposition the century-old industrial site around manufacturing, renewable energy and upgraded infrastructure. Project Tuckamore was registered with Newfoundland and Labrador regulators Sept. 1. The proposal includes an approximately …

Pier 4 REIT has acquired three Halifax apartment buildings containing 141 units for $22.56 million, expanding its Atlantic Canadian portfolio. The transaction, which closed Aug. 31, values the portfolio at about $160,000 per apartment. The three-storey buildings, all constructed in the 1970s, are located at 2–18 Foxwood Terr., 46 River Rd. and 15 Sylvia Ave. …

A 1.49-hectare Niagara Falls site already rezoned for 583 residential units, a 300-room hotel and commercial space has fallen into receivership over more than $20.8 million in debt. The properties at 6663, 6671 and 6683 Stanley Ave. and 5582 and 5640 Dunn St. are owned by Stanley JV, with Stanley Development Limited Partnership identified as …

Cadillac Fairview has landed T&T Supermarket for 68,000 SF of the former Hudson’s Bay space at CF Markville, providing a significant replacement tenant as Canadian mall owners continue to work through the department store chain’s collapse. The Loblaw-owned Asian grocer will occupy the lower level of the former Bay at 5000 Hwy. 7 in Markham, …

Lovo has broken ground on a $100-million industrial egg campus in Saint-Hyacinthe, Que., as record Canadian egg production drives investment in processing capacity. The farmer-owned company is building the project on more than 600,000 SF on Picard Street in the Saint-Hyacinthe industrial park, adjacent to its existing plant. The first component is a grading facility …

Ipso Facto has acquired 165 unsold condominiums at 1 Square Phillips in downtown Montreal for $65 million, converting them to rental housing. The bulk purchase works out to roughly $394,000 per suite, compared with an average municipal assessment of approximately $503,000 per unit. The condos were acquired from developer Brivia Group, which completed the first …

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, …