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June 23, 2025
Canada's largest healthcare REIT brings in new CEO after streamlining property holdings
Canada's largest healthcare real estate investment trust is bringing in a new chief executive officer to run the company with a portfolio of 169 properties after a period of strategic review.
June 20, 2025
Toronto investor affirms commitment to suburban office sector
Commercial real estate investment firm Crown Realty Partners affirmed its commitment to the suburban office sector with the purchase of two properties in Toronto's southwest suburbs.
June 20, 2025
Owners of high-profile towers ask, what’s in a name?
June 20, 2025
DC's Wharf nets $1.2 billion in refinancing to grow waterfront project
The Wharf mixed-use project in Washington, D.C., has closed on a $1.15 billion refinancing deal — one of the largest such transactions in the city's history — that positions the landmark project for new growth, the group that oversees the property said.
June 18, 2025
PSP Investments breaks even on real estate assets for past year
The Public Sector Pension Investment Board reported losing no money for its government employee contributors on its real estate assets last year in a tough market, as the Montreal-based pension posted a 0% return on its $26.6 billion in real estate holdings in fiscal 2025, according to its recently released annual report.
June 18, 2025
Ivanhoé Cambridge's name changing to La Caisse
Ivanhoé Cambridge is phasing out its name. The Caisse de dépôt et placement du Québec is changing the name of its real estate arm to La Caisse in a process that began at the start of this month and is set to be completed over the next few months.
June 16, 2025
Canada's federal government employees increasingly follow back-to-office order
Canada’s federal government employees are increasingly complying with an order issued last September requiring them to work at least three days a week from their offices.
June 13, 2025
Ivanhoé Cambridge defaults on New York City office tower
Ivanhoé Cambridge, the real estate arm of the CDPQ Quebec pension fund giant, is in default on its mortgage debt on its office tower at 85 Broad St. in Manhattan.
June 12, 2025
Canada Infrastructure Bank strikes deal with Scotiabank to expand building retrofit program
The Canada Infrastructure Bank, a federal Crown corporation, is expanding its building retrofit initiative by forming a $100 million partnership with the Bank of Nova Scotia to finance deep energy retrofits with its commercial real estate customers nationwide.
June 11, 2025
Spending Review: Chancellor 'bets big' with massive commitments on housing, defence and transport
Chancellor of the Exchequer Rachel Reeves has put major investment in affordable housing, improved defence security and transport at the centre of the Spending Review, the key document laying out the budget for government departments in the coming years.
June 11, 2025
Drugmakers plan $270 billion in US manufacturing investment
The U.S. biotech property sector could see a burst of activity in one of the first tests of the federal government's trade policies aimed at encouraging the return of manufacturing to the United States.
June 10, 2025
Canadian government gets just 2% of its office space to appropriate size, audit finds
Canada Auditor General Karen Hogan said the federal government is failing in its bid to address excess office space, with just 2% of its real estate footprint brought to an appropriate amount despite half being underused or vacant.
June 9, 2025
Large pension fund, CT REIT take on $200 million Canada Square office retrofit
The real estate arm of one of the country's biggest pension funds and Canadian Tire Corp., a major Canadian retailer, say they are teaming up on a $200 million retrofit of a high-profile office complex in midtown Toronto.
June 6, 2025
Prime Properties expands acquisitions in Montreal
Prime Properties, a company that launched in the 1970s after German immigrant Karsten Rumpf set up pinball and video arcades in downtown Montreal, has grown its real estate holdings further with a pair of acquisitions from TD Asset Management on a well-trod section of Montreal’s city’s busiest strip.
June 5, 2025
Vancouver approves plan to revitalize a downtown entertainment district
Vancouver leaders approved a plan to try to revitalize downtown’s faded stretch of Granville Street in the coming decades using aspects of the past development of New York City’s Times Square and Tokyo’s Shibuya Crossing as models.
June 5, 2025
Developer takes wrecking ball to downtown Ottawa office tower
Office buildings routinely violate Newton’s Third Law of Motion: Many have gone up but few have come down. Vincent Chiara, head and founder of Montreal real estate developer Mach Group, aims to change that, at least for one building.
June 4, 2025
Vancouver council approves two-tower office and industrial complex
A Vancouver real estate developer plans to proceed with a two-tower office and industrial project on nearly a full city block in the city's Mount Pleasant area during what the developer acknowledges is a "challenging commercial leasing market."
June 4, 2025
CoStar World News for June 5
June 4, 2025
Crown Realty CEO to retire at end of the month
Crown Realty Partners, a firm that owns, leases and manages and redevelops commercial property across the country, said its CEO will retire at the end of the month.
June 4, 2025
Quebec government raises target for reducing office space
While employers across Canada and the United States have been pushing workers to return to the office, Quebec’s provincial government has adopted guidelines for employees to work remotely three days a week. As a result, the government is planning to increase the amount of office space it plans to vacate to 40% of its currently occupied space, up from its previous goal of 30%.