Canada

Apartment Plus (A+) REIT has purchased the Catalyst Apartments in northwest Calgary for $29 million. The acquisition is the first in Calgary for the Winnipeg-based REIT, which completed the deal through parent firm Private Pension Partners. The acquisition the REIT 100% ownership of the property at 1450 20th Ave. N.W. and marks the beginning of …

Secured lender Timbercreek Mortgage Servicing has agreed to purchase the debt-laden Life Plaza office tower in Calgary through a receivership sale. The agreement comes after a pre-receivership marketing process failed to attract an acceptable third-party offer. Receiver MNP said Alberta Court of King’s Bench placed Life Plaza owner SCREO I Gill Inc. and SCREO I …

Onni Group has completed its purchase of the former Hudson’s Bay Company department store in downtown Vancouver for a reported price of $112.5 million. A CBRE spokesman confirmed to Connect that the deal closed June 24. It was scheduled to close by June 30. The spokesman declined to disclose the purchase price. The publication that …

Grosvenor has recorded the largest single lease deal in its 75-year Canadian history, with merchandise distributor S&S covering an entire 162,250-square-foot warehouse on Annacis Island in Delta, B.C. The long-term lease covers the full Millennium 6 building at 1005 Derwent and supports S&S’s plan to more than double its Canadian operations in the Vancouver region. …

Shelter inflation continued to ease in May, with the annual increase slowing to 1.7% from 1.8% in April, according to Statistics Canada. The moderation reflected continued declines in key homeownership cost measures. The homeowners’ replacement-cost index fell 2.5% year-over-year in May, marking its 13th consecutive annual decline. Other owned accommodation expenses, including real estate commissions, …

CIBC Global Asset Management has launched a new private infrastructure-investment fund under a partnership with J.P. Morgan Asset Management. The fund provides Canadian accredited investors with access to institutional-grade private infrastructure investments. The new investment vehicle expands CIBC GAM’s private-markets offerings and is designed with JPMAM’s Alternative Investments Strategy & Solutions team. It provides exposure …

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 …

Saltire Capital has acquired Tool Shed construction equipment rental and sales retailer for $2.8 million in cash and stock. The deal was previously announced but amended prior to closing with Saltire purchasing 100% of the company, which operates one location in Dartmouth, N.S. Previously, the proposed agreement called for the vendors to retain an ownership …

Onni Group has completed its purchase of the former Hudson’s Bay Company department store in downtown Vancouver for a reported price of $112.5 million. A CBRE spokesman confirmed to Connect that the deal closed June 24. It was scheduled to close by June 30. The spokesman declined to disclose the purchase price. The publication that …

Starlight Investments has topped off its new Donvale Commons purpose-built rental project in Toronto. The infill development, located near Sheppard Avenue East and Don Mills Road on an existing Starlight property, will include a nine-storey apartment building and 48 rental townhome suites across three low-rise blocks. The project will offer a mix of studio, one-, …

CDPQ Infra has raised $1.85 billion for the REM automated light-rail rapid-transit line spanning the Greater Montreal Area through the company’s first green-bond offering. The financing, completed through senior unsecured fixed-rate notes issued by Projet REM s.e.c., is intended to support the REM, formally known as the Réseau express métropolitain, as it transitions into a …

The federal and Quebec governments will invest approximately $200 million in the construction of Phase II of the Université de Montréal’s Science Complex. The funding will support construction of two new buildings adjacent to the existing science complex, creating a single hub for natural sciences, data science and the Courtois Institute, whose operations are currently …

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, …