Real Estate

Survey suggests urban Canadians remain optimistic about real estate

26/03/2023

A new survey suggests that despite high interest rates and an uncertain economy, confidence in real estate as an investment remains high among Canadians who live in large cities.

The new report was conducted by research firm Mustel Group for Sotheby’s International Realty Canada and surveyed 2,000 Canadian adults between the ages of 18 and 77 in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan Areas (CMAs). 

It found a high level of confidence in future real estate performance, with 60 per cent of respondents believing that a home or residential real estate purchase will perform the same or better than their other financial investments over the next 10 years.

While that figure reflects optimism about the market in the long term, the survey also found that almost half of respondents (49 per cent) believe that a home or residential real estate purchase will perform the same or better than

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Real Estate

UBS Buys Credit Suisse And Creates A Real Estate Giant. Does A Credit Crunch Still Loom?

25/03/2023

UBS has bought fellow banking giant Credit Suisse in a deal that will create a bank with an $80B commercial real estate loan book and more than $100B of real estate assets under management — making it the fourth-largest CRE lender in the world — but the key element of the deal for CRE is whether it can stop liquidity drying up in the banking system.

UBS’ headquarters in Zurich

UBS announced on Sunday that it had agreed a deal to rescue Credit Suisse and would pay about $3.25B for its Swiss rival. Swiss financial regulators changed the law so that shareholders do not have to approve the deal, such was the need to get a speedy transaction completed.

“This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue,” UBS Chairman Colm Kelleher said in a

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Real Estate

Neighbourly Completes Divestiture of 18 Real Estate Properties in Manitoba and Saskatchewan

24/03/2023

– Cash proceeds to be allocated to near term pharmacy acquisitions –

TORONTO, March 20, 2023 /CNW/ – Neighbourly Pharmacy Inc. (TSX: NBLY) (“Neighbourly” or the “Company“), Canada’s largest and fastest growing network of independent pharmacies, is pleased to announce that the Company has completed the planned divestiture of 18 real estate properties which had been acquired as part of the Rubicon acquisition.

The net proceeds of approximately $12 million will be allocated to the continuing execution of Neighbourly’s M&A strategy.

“Divesting non-core real estate properties in order to redeploy cash proceeds towards funding our future acquisitions is a top priority in our capital allocation approach. With a robust pipeline of acquisition opportunities, we remain focused on continuing to execute on this key driver of our future growth,” stated Skip Bourdo, Neighbourly’s Chief Executive Officer.

Neighbourly estimates that the sale and subsequent leaseback

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Real Estate

Ninepoint Partners Announces Launch of Nuveen-Ninepoint Global Real Estate Fund LP

23/03/2023

Published Mar 20, 2023  •  3 minute read

Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, March 20, 2023 (GLOBE NEWSWIRE) — Ninepoint Partners, one of Canada’s leading alternatives asset managers, is pleased to announce the launch of Nuveen-Ninepoint Global Real Estate Fund LP (“the Fund”), Ninepoint’s new private real estate offering for Canadian institutional investors. This multi-strategy fund will invest in established real estate mandates managed by Nuveen across the industrial, multifamily, retail, workplace, and alternatives sectors.

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Real Estate

Driving (in) the real estate business

21/03/2023

When realtor Audrey Azad drives her Tesla Model X SUV, she knows the kids on the street are doubled up laughing at her license plate that reads, PASTGAS.

If that isn’t enough, the car comes with a whoopie cushion app.

“You can fire it off from any speaker,” she says. “I have endless hours of enjoyment with my clients’ kids in the back seat. You can rig it up so when you use the turn signal, it farts.”

Azad likes to joke that there’s a 12-year-old boy’s heart beating in her chest.

Even though a lot more real estate business is conducted virtually these days, a comfortable sedan or a flash vehicle remains a tool of the trade for agents. There is still a lot of driving to showings and listing appointments, sometimes long distances with clients riding shotgun. An agent’s car needs to be clean and reliable. But

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