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16/08/2024

JLL launches first GPT model for commercial real estate • RENX • Real Estate News Exchange

Yao Morin, Jones Lang LaSalle Inc.’s chief technology officer. (Courtesy Jones Lang LaSalle Inc.)

After the platforms took the world by storm to write essays, craft poems and quench one’s curiosity, Jones Lang LaSalle (JLL) Inc. is now harnessing generative AI models to deliver commercial real estate insights.

Chicago-headquartered JLL claims it is the first use of a purpose-built Generative Pre-trained Transformer (GPT) AI technology in CRE.

The company announced JLL GPT as its latest tool to assist its employees with an AI-powered platform that produces CRE-related information in response to a user query.

Curious about the current asking rent for a class-A building in a particular city? A JLL employee can ask JLL GPT to scan through its banks of data to figure that out.

“It’s not a huge jump for us to also quickly adopt the generative AI technology because it definitely has a lot of

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16/08/2024

Harrison Street acquires Van. Evolution Block biomed facility • RENX • Real Estate News Exchange

The Harrison Street Canada Alternative Real Estate Fund has acquired its first Canadian life sciences asset, 78,000 square feet of the newly-constructed Evolution Block in Vancouver. (Courtesy Harrison Street)

The Harrison Street Canada Alternative Real Estate Fund has acquired its first Canadian life sciences asset, 78,000 square feet of the newly constructed Evolution Block in Vancouver.

Evolution Block is a four-storey combined commercial and office building at 1055 Vernon St., which was developed by Metro Vancouver-based PC Urban and Nicola Wealth Real Estate. Created as a strata project, the upper three floors involved in this transaction had been acquired by Precision Nanosystems (PNI) for its new global headquarters and manufacturing facility.

Financial details of the acquisition were not released by Harrison Street.

“We’re proud to invest in Evolution Block, which fosters innovation, collaboration and discovery for the life sciences and medical fields in Vancouver, one of the fastest growing

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16/08/2024

Possible tornado damages condos, cars, and businesses in Lawrence – Princeton, NJ local news

The scene at Lawrence Square Village Tuesday evening after the storm. Photo courtesy of Patricia K. Johnson.

The Lawrence Square Village condominium complex, commercial buildings, and several vehicles were damaged during a storm at about 3:45 p.m. Tuesday afternoon, just after the National Weather Service in Mount Holly issued a tornado warning for Southeastern Mercer County.

The storm caused trees to topple onto cars. Large tree branches blocked roads at Lawrence Square Village, which is located just off Route 1 and Quakerbridge Road.

Photos shared by residents showed large trees pulled up at the roots. The winds also damaged the roofs of several condominiums.

About 60 residents have been displaced due to the damage. The Red Cross is on the scene, along with Volunteers of America. The organizations are helping displaced residents find temporary housing.

No injuries were reported as a result of the storm damage, police said.

The National

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26/05/202426/05/2024

Cottage owners share the pros and cons of ownership and the Home of the Week: Canadian real estate news for May 25

Home of the Week, 145059 16th Side Road, Meaford, Ont.elevatedphotos.ca

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

Owning a cottage isn’t what it used to be: Canadians share the financial pros and cons of ownership

The state of Canadian cottage ownership is changing. For people already financially stretched on their primary properties, buying or maintaining a cottage is further out of reach than ever before, write Irene Galea and Salmaan Farooqui. That pressure has led many to see their cottages in a new light: a potential source of revenue, a liability or even a full-time home. Today, cottagers and the communities they inhabit are still reeling from the aftermath of years of change, from the pandemic to increasing housing prices. But there have

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14/04/2024

Ottawa eases mortgage rules for first time in a decade and the Home of the Week: Canadian real estate news for April 13

Home of the Week, 7 Hurndale Ave., Playter Estates, TorontoMshati Productions

Here are The Globe and Mail’s top housing and real estate stories this week and one home worth a look.

Try The Globe’s business and investing news quiz

First-time homebuyers can get 30-year mortgages to buy newly built houses under rule change

As part of a growing collection of initiatives designed to address Canada’s growing housing crisis, the federal government announced that it was easing its mortgage rules for the first time in a decade, writes Rachelle Younglai. First-time homebuyers who require mortgage insurance — due to making a down payment that is less than 20 per cent of the purchase price — will now be able to take out 30-year mortgages on a newly built home. It is unclear how much the longer amortization period will help first-time buyers, as it only

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