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 …

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 …

A Seattle developer is set to acquire the stalled Pierwell luxury project in West Vancouver for about $37.5 million, giving the Dundarave site a path forward after its owner fell into receivership. The B.C. Supreme Court approved the sale to Basel Capital on Aug. 25, court records show. The transaction is expected to close in …

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 …

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. …

NordSpace has secured $5 million from federal and provincial governments to advance its Atlantic Spaceport Complex near St. Lawrence, adding momentum to the East Coast’s emergence as a national space-launch corridor. The funding is part of a $10-million investment, half from NordSpace. Ottawa is contributing $1 million, while the province is providing $4 million. The …

Mississauga is eligible for up to $401.4 million in federal and Ontario infrastructure funding after committing to maintain steep cuts to residential development charges through March 31, 2029. The city reduced charges by 50% beginning Jan. 29, 2025, and will eliminate them for rental units with one bedroom plus den, two bedrooms or three bedrooms. …

Flexport has opened a 50,000-SF fulfilment centre near Toronto Pearson International Airport in Mississauga, bringing the warehousing and e-commerce arm of its global logistics network into Canada. The company moves freight by air, ocean, rail and truck. Its air-freight operation combines cargo space purchased from commercial airlines with dedicated charter flights from Asia, including Flexport-branded …

Metro will vacate its 110,000-square-foot online grocery fulfilment centre at 10655 Henri-Bourassa Blvd. W. in Montreal on Nov. 28, putting a purpose-converted industrial property back in the hands of owner Mondev. The closure date was disclosed in a Quebec government filing published Sept. 1, which also shows 154 employees will be affected as Metro shifts …

Alterra Mountain Company is investing $42.5 million to expand its Mont-Tremblant ski area with new terrain and lift infrastructure. The Timber Summit project will add 62 acres of skiable terrain, eight trails and the Timber Express, a high-speed quad chairlift, for the 2027-28 winter season. The lift will carry up to 2,400 skiers hourly, boosting …

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, …