Asset Management
Resilience still lacks climate action profile
Climate change adaptation measures are typically viewed as risk management rather than levers for investment returns, but they are inherently linked to building and portfolio value.
State of good repair lags in City of Toronto
Toronto is backsliding on the upkeep of municipal facilities, with a state of good repair backlog that’s projected to surpass $1 billion this year and then continue accumulating to nearly $1.47 billion by 2033.
Investment returns show slipping values in 2023
Canadian investment returns for 2023 show retail improvement, industrial deceleration and continuing office value decline, as capital loss balances out income growth for a flat total return.
Building electrification projects impart lessons
The business case for electrification works best when retrofits are synced with the end-of-life of existing mechanical equipment and/or asset repositioning plans
Climate action levers key amid competing crises
Strategists are pondering the most effective climate action levers to keep attention focused on reducing greenhouse gas emissions as other events and pressures commandeer priority-setting agendas.
Distressed asset sales remain a steady fraction
Distressed asset sales were a nominal and relatively consistent fraction of the Canadian commercial investment property market in the first half of 2023.
Receptive climate for risk management brewing
New guidance for CRE investors and owners/managers highlights climate-related risks, recommended safeguard measures and key questions for gauging the preparedness of assets.
Ontario keeps clinging to 2016 market values
The recent regulation to postpone Ontario's property reassessment for another year stretches the assessment cycle to double its originally intended time span.
Climate change adaptation efforts unfolding
Canada’s newly finalized climate change adaptation strategy sets out objectives and attaches mid- to near-term targets to bolster resilience in five key action areas.
Office conversion prospects judged challenging
Viable conversion candidates must begin with a basic structural prerequisite, but construction costs, location, surrounding amenities and assumptions about future office values all influence the business case.
Range of CRE stakeholders demand ESG metrics
Canada’s leading commercial real estate players are increasingly turning to ESG metrics to track responsiveness to a range of emerging risks and business imperatives.
Trophy office towers widening gap from the pack
Trophy office towers could be anchored atop the market for the long term as the past decade’s wave of new building subsides and little further development is anticipated.
Office building values still trending downward
Appraisers generally expect office building values to keep slipping over the course of 2023 as a range of factors undermine cash flow, push up cap rates and make investors skittish.
Multifamily asset values hold steady
Multifamily asset values appear to be holding steady, but transaction volume plummeted in the first quarter of 2023.
Sustainable finance products forge way to 2050
Sustainable finance products, are expected to increasingly come into play as building owners/managers pursue decarbonization and look to bolster the climate resiliency of their properties.
Inadvertent blocks on commercial deals lifted
Regulatory amendments to Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act address inadvertent impacts on commercial transactions and property development.
Department store drain continues
Nordstrom Canada’s sudden swoosh into the department store drain will leave empty anchor space in some of the country’s top-performing and most prestigious regional malls.