Real Estate

After a year that saw home average home prices jump 20 per cent, Ottawa homebuyers can expect little relief in the months ahead, according to a major Canadian real estate brokerage.
Firm has appointed Tamara Gauthier, Robert Langlois, Matthew Morkem, Tracy O’Brien, Joël Primeau, Steve Saxton, Sarah Vereault and Jane Wilson associates.
All told, tenants shed nearly 800,000 square feet of office space last year ​– the highest net negative absorption of real estate in Ottawa since 2002.
Firm said Monday it’s teaming up with Toronto-based Crestpoint Real Estate Investments to acquire 15 properties with a total of 614 suites in Canada’s third-largest city.
Deal for 12-storey office building at 81 Metcalfe Street is valued at nearly $12.5 million.
Overall, nearly 19,000 homes changed hands last year, a slight increase over 2019’s total of about 18,600.
Third-generation executive officially took the reins on Jan. 1 and follows in the footsteps of his father, who’d run the company since 1984.
Proposed Chamberlain Avenue project is the latest infill plan along the Queensway corridor in the Glebe and Centretown.
REIT says it’s agreed to sell a 50 per cent non-managing interest in retail centres Carrefour du Versant, Place Nelligan and Place Cit​é des Jeunes for a combined total of nearly $60 million.
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Real Strategy Advisors is cautiously optimistic that the vast majority of executives we speak with are in favour of an eventual return to the physical office in some form.