Real Estate

Ottawa-Gatineau’s annual pace of housing starts jumped a whopping 725 per cent in February, the Canada Mortgage...

The association says February sales were comparable to what was recorded during the same month in 2018 and 2019, before the COVID-19 pandemic.

Building owners, property managers and other Ottawa commercial real estate insiders itching to get a sense of which assets the federal government plans to offload from its downtown office portfolio in the wake of COVID-19 will have to wait a little longer.

Real estate firm Avison Young says 286 properties in the nation’s capital meet two key criteria that may make them suitable to be turned into rental apartments or other forms of housing.

In financial filings this week, InterRent REIT and Minto Apartment REIT both reported big jumps in revenues compared with a year earlier – although headwinds such as rising interest rates have boosted the cost of financing their holdings and eaten into their bottom lines.

Ottawa’s housing market showed signs of balancing out in February and could even swing back to a seller’s market if current trends continue.

Ottawa’s largest privately owned commercial property manager said Wednesday it partnered with an unnamed institutional investor to purchase a five-storey office tower and four acres of adjacent land at 1900-2000 City Park Dr. from Vancouver-based company.

The firm expects more tenants will look to downsize this year as they rethink their office requirements, resulting in more sublease space coming on the market. 

Constructed in 2021, Eagle Pointe is a “high-quality asset” that fits the company’s long-term strategy to upgrade its holdings by selling older buildings and acquiring new builds, CAPREIT president and CEO Mark Kenney told OBJ on Tuesday.

Local property owners with residential rental properties say they are relieved that legislation that would have required them to purchase power generators has failed in the provincial legislature.