TORONTO, Sept. 26, 2024 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Trust (“ERES”) (TSX:ERE.UN) announced today it will issue its financial results for the three and nine months ended September 30, 2024 after markets close on: Wednesday, November 6, 2024 A conference call to discuss the results will be hosted by the ERES senior… [Read More]
Zibi Community Update
TORONTO–(BUSINESS WIRE)–This afternoon, DREAM UNLIMITED CORP. and DREAM IMPACT TRUST (collectively “Dream”) commenced marketing 3.27 acres of land for sale within Zibi known as the Capital View Lands. Located in Gatineau, Quebec, the marketed site has exceptional views of Parliament Hill and the Ottawa River and is directly across from Place du Portage – an office complex that houses Canada’s largest concentration of Federal Government employees. With approximately 1 million square feet (“sf”) of potential development density, the Capital View Lands is contemplated to be developed with 5 separate buildings and offers an incoming developer a platform opportunity in the Gatineau area to work closely with Dream.
Zibi is a 34-acre waterfront community located in Ottawa, Ontario and Gatineau, Quebec, overlooking the Ottawa River. The community offers affordable and innovative housing options and incorporates significant inclusivity considerations. In addition, Zibi houses a district energy system which utilizes post-industrial waste for heating and the Ottawa River for cooling which allows for the community to be carbon neutral. Since Dream’s initial investment in 2015, approximately 1 million sf of residential and commercial space has been completed at Zibi, in addition to two parks and 3 plazas which are open to the public.
Dream remains committed to the future build-out of Zibi and its active development role within the National Capital Region. Based on current plans, Dream expects to build a total of 2,500 rental units at Zibi, of which 600 are completed and leased or completing lease up, with another 440 rental units starting construction within the next 12 months. With approximately one-third of the site built to date, selling 10% of the land will provide an opportunity for other developers to bring diversity of product type to the community and reduce the build out period. Between the potential sale of these three acres and the commencement of the two new buildings, the infrastructure debt for Zibi would be substantially paid down and we would continue to build out apartments as absorption permits completing our development within ten years.
“With the recent Senators arena announcement, we are excited to see even more development momentum near Zibi,” said Michael Cooper, Chief Responsible Officer of Dream. “We feel Zibi has generally progressed well and provided opportunities for very innovative partnerships. By bringing in development partners for the Capital View Lands, Zibi’s development pace can be accelerated to provide a mature community sooner in such a vital location to the National Capital Region.”
Last spring, Dream started construction on a 608-unit rental building on the LeBreton Flats Library Parcel, located at the Pimisi O-Train station and a five-minute walk to Zibi. The development of this site is important to Dream and an excellent example of how public, private and not for profit partnerships can bring much needed supply to market across the housing continuum with speed and scale.
About Dream Unlimited Corp.
Dream Unlimited Corp. is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $25 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land, residential and income generating assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit our website at www.dream.ca.
About Dream Impact Trust
Dream Impact Trust is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities, while generating attractive returns for investors. or more information, please visit: http://www.dreamimpacttrust.ca
Forward Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to construction and development timelines and plans with respect to Zibi and the Capital View Lands, the number of buildings and rental units, the ability to pay down infrastructure debt, the ability to bring in development partners for the Capital View Lands and resulting opportunities. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, interest rates and inflation remaining in line with management expectations, our ability to bring new developments to market, anticipated positive general economic and business conditions, our business strategy, anticipated sales volumes, and conditions in land and housing markets. Risks and uncertainties include, but are not limited to, general and local economic and business conditions, inflation or stagflation, regulatory risks, mortgage and interest rates and regulations, risks related to a potential economic slowdown and the effect inflation and any such economic slowdown may have on market conditions and lease rates. All forward looking information in this press release speaks as of September 24, 2024. Dream does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR+ (www.sedarplus.com). These filings are also available at Dream’s website at www.dream.ca.
Contacts
For more information please contact:
Kim Lefever
Director, Investor Relations
416-365-6339
klefever@dream.ca
DULUX PAINTS by PPG unveils 2025 Colour of the Year: Purple Basil
Energized hue encourages ‘colour dreamers’ to embrace dramatic shades
TORONTO–(BUSINESS WIRE)–PPG (NYSE:PPG) today announced the DULUX® PAINTS by PPG 2025 Colour of the Year: Purple Basil (DLX1046-7), a pleasant, yet high-impact hue that demonstrates the transformative power of colour. Purple Basil embodies warm, rich purple shades, supporting the growing trend of using dramatic colours in home decor. It empowers consumers to unapologetically select the bold paint colours that speak to them.
“Many of our customers want to incorporate a bold colour to transform a space in their home, but when it’s time to make the final selection, they play it safe and revert to neutral, muted shades,” said Mitsu Dhawan, PPG marketing manager, Dulux and BÉTONEL® brands, Architectural Coatings. “This year, we’re helping with that final push to go bold and try a dramatic, less expected colour. True to the Dulux brand, when it comes to taking your bold colour dreams from the paint chips to your walls, we encourage homeowners to ‘Du’ it!”
Dulux colour forecasters predict that professional and DIY painters alike will incorporate dramatic colours like Purple Basil into their decor schemes in 2025. The hue represents the admiration for self-discovery and self-expression that has led to the rise of maximalism across industries including design, fashion and consumer goods.
Dulux colour experts approve Purple Basil for use in almost any space where designers and homeowners alike want to add a bold yet understated element to deco, including:
- Interior walls and trim – Purple Basil helps to make any room a home’s “crown jewel” by coupling it with abstract or vintage-style wallpaper, or as a trim, ceiling, accent wall or wainscotting colour pairing. For a more uniform look, consumers can “colour drench” a single room in Purple Basil, applying it to walls, ceilings, bookcases and trim. Using a higher-gloss sheen can highlight features, while matt/flat can disguise less-desirable features or hide surface imperfections.
- Interior cabinetry – Purple Basil adds a pop of drama and depth to a bathroom vanity, especially when paired with mixed metallic hardware and lighting. It can be used on kitchen cabinets, pairing it with stainless countertops for a sleek look or with a natural stone counter for an earthy-feeling space.
- Exterior accents –Purple Basil makes a bold front door statement to any guests and passersby, or creates a striking look on shutters, window boxes or mailboxes.
“Incorporating vivid colour choices into a project often requires visualization and trial and error, so we recommend using Dulux Colour Sample pots to test Purple Basil and other bold hues to determine what works best in a space before making a final selection,” said Dhawan. “Our online paint colour visualization tool is another great resource for consumers to use to get a sense of what is an ideal colour for their project as well as our ‘Du it with Dulux’ tips.”
For more information about the Dulux 2025 colour trends palettes, visit dulux.ca.
PPG has more than 240 company-owned Dulux and Bétonel–Dulux stores across Canada, serving the consumer and professional markets.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $18.2 billion in 2023. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
The PPG Logo and We Protect and Beautify the World and are registered trademarks of PPG Industries Ohio, Inc. Dulux is a registered trademark of AkzoNobel and is licensed to PPG Architectural Coatings Canada, Inc. for use in Canada only. |
Bétonel is a registered trademark of PPG Architectural Coatings Canada, Inc.Le Logo PPG et We Protect and Beautify the World sont des marques déposées de PPG Industries Ohio, Inc. |
Dulux est une marque déposée d’AkzoNobel, et est utilisée sous licence au Canada seulement par PPG Revêtements Architecturaux Canada, Inc. |
Bétonel est une marque déposée de PPG Revêtements Architecturaux Canada, Inc. |
Contacts
Jamie Altman
Architectural Coatings
+1 724 205 1673
JAltman@ppg.com
www.ppg.com
Middlefield Global Real Asset Fund Approves Merger Into Real Estate Split Corp.
TORONTO, Sept. 24, 2024 (GLOBE NEWSWIRE) — Middlefield Global Real Asset Fund (“Real Asset”) (TSX:RA.UN) is pleased to announce that a special meeting of unitholders of Real Asset was held today at which unitholders voted in favour of a resolution approving the previously announced merger (the “Merger”) of Real Asset into Real Estate Split Corp.,… [Read More]
Allied Announces Offering of Series J Senior Unsecured Debentures
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA TORONTO, Sept. 24, 2024 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) announced today that it has agreed to offer, on a private placement basis in each of the provinces and territories of Canada (the “Offering”),… [Read More]
Northview Residential REIT Announces September Distribution
Not for distribution to U.S. newswire services or for dissemination in the United States. CALGARY, Alberta, Sept. 24, 2024 (GLOBE NEWSWIRE) — Northview Residential REIT (the “REIT”) today announced its September 2024 cash distribution amounts on its outstanding Class A Units, Class C Units and Class F Units (collectively, the “Units”) in the amount of… [Read More]
Dream Office REIT Announces September 2024 Monthly Distribution
TORONTO–(BUSINESS WIRE)–DREAM OFFICE REIT (TSX: D.UN) (“Dream Office” or the “Trust”) today announced its September 2024 monthly distribution of 8.333 cents ($1.00 annualized) per REIT Unit, Series A (“REIT A Units”). The September distribution will be payable on October 15, 2024 to unitholders of record as at September 30, 2024.
Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at www.dreamofficereit.ca.
Contacts
For further information, please contact:
Michael J. Cooper
Chairman and Chief Executive Officer
(416) 365-5145
mcooper@dream.ca
Jay Jiang
Chief Financial Officer
(416) 365-6638
jjiang@dream.ca
Urbanfund Corp. Declares Dividend
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) — Mitchell Cohen, Chief Executive Officer and President of Urbanfund Corp. (TSX-V: UFC) (“Urbanfund” or the “Company”), announces that the Board of Directors of the Company has declared a dividend of $0.0125 per common share… [Read More]
Canada Construction Industry Databook 2024: 10 Year Market Size & Forecast by Value and Volume – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Canada Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units), Q2 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
The construction industry in Canada is expected to grow by 3.9% to reach CAD 222.11 billion in 2024.
Despite near-term challenges in certain construction sectors, Canada’s construction industry is poised for significant growth. The industry is expected to grow steadily over the next four quarters, with the growth momentum continuing over the forecast period. A CAGR of 3.7% is projected during 2024-2028, with the country’s construction output expected to reach CAD 256.42 billion by 2028, indicating substantial growth potential.
The Canadian construction industry is at a pivotal moment, characterized by cautious growth, evolving market demands, and significant challenges. As the sector adapts to economic fluctuations and embraces technological advancements, stakeholders must proactively address labour shortages and promote sustainable practices. By leveraging government initiatives and focusing on innovation, executives can position their organizations for success in this dynamic landscape.
Key Trends and Developments
- Cautious Growth Amid Economic Challenges: The construction sector in Canada is projected to experience slow growth in 2024, driven by infrastructure investments and a rebound in commercial construction. However, high interest rates and inflation are tempering investor sentiment, leading to a contraction in the residential sector.
- Labour Shortages and Skills Gap: The industry faces significant labour shortages, exacerbated by an aging workforce and insufficient new entrants. This shortage impacts project timelines and costs, necessitating a focus on recruitment and retention strategies to attract diverse talent.
- Increased Focus on Sustainability: There is a growing emphasis on sustainable building practices and green technologies. The federal government has committed $6 billion to the Canada Housing Infrastructure Fund to address housing shortages and promote environmentally friendly construction methods.
- Technological Advancements: Adopting digital tools, artificial intelligence (AI), and data analytics transforms construction processes. Companies are increasingly utilizing AI for risk management and project efficiency, which is expected to enhance productivity and reduce costs.
Residential Construction: Navigating Contractions and Opportunities
- Government Initiatives to Address Housing Shortages: The federal government’s investment in affordable housing projects is crucial for meeting the growing demand. Initiatives to increase the supply of new homes and retrofit existing structures are expected to support long-term growth in this sector.
Commercial Construction: Recovery and Growth
- Positive Outlook for Commercial Projects: The commercial construction sector is poised for recovery, with a projected increase in building activity as the economy stabilizes. Major investments in office spaces, retail, and mixed-use developments are expected to drive growth in urban centers.
- Impact of Changing Work Dynamics: The shift towards hybrid work models is influencing the design and functionality of commercial spaces. Developers focus on creating flexible environments catering to evolving business needs and employee preferences.
Institutional Construction: Focusing on Public Needs
- Investment in Healthcare and Education: The institutional construction segment is experiencing growth driven by significant investments in healthcare and educational facilities. The Canadian government is prioritizing infrastructure projects that enhance public services, focusing on modernizing existing institutions.
- Sustainability in Institutional Projects: New institutional projects increasingly incorporate sustainable design principles, aligning with national environmental responsibility and energy efficiency goals. This trend is essential for future-proofing public infrastructure against climate change impacts.
Industrial Construction: Strengthening Economic Foundations
- Growth in Manufacturing and Logistics: The industrial construction sector is growing due to increased demand for manufacturing facilities and logistics centers. Investments in these areas are essential for supporting the supply chain and enhancing economic resilience.
- Focus on Renewable Energy Projects: There has been a notable increase in construction activity related to renewable energy projects, driven by government initiatives to reduce carbon emissions and promote sustainable energy sources. This trend will continue as Canada seeks to meet its climate targets.
Infrastructure Construction: The Backbone of Development
- Major Infrastructure Investments: The Canadian government invests heavily in infrastructure projects, including transportation, utilities, and public transit systems. A notable project is the addition of 1,000 km of new rail track for high-speed rail services between major cities, which is expected to advance in summer 2024.
- Long-Term Infrastructure Planning: The focus on long-term infrastructure planning is critical for addressing population growth and urbanization challenges. Continued investment in public infrastructure is essential for enhancing connectivity and supporting economic development across regions.
For more information about this report visit https://www.researchandmarkets.com/r/30emz9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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press@researchandmarkets.com
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Timbercreek Financial Declares September 2024 Dividend
TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Timbercreek Financial (TSX: TF) (the “Company”) is pleased to announce that it has declared a monthly cash dividend of $0.0575 per common share (“Common Share”) of the Company to be paid on October 15, 2024 to holders of Common Shares of record on September 27, 2024. The Company… [Read More]
Strategic Storage Growth Trust III, Inc. Announces Opening of New Facility in Alberta, Canada
LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), is pleased to announce the acquisition of its newest self-storage facility in St. Albert, Alberta, Canada.
Located at 8 Inglewood Drive in St. Albert, Alberta, this newly constructed two-building facility encompasses approximately 36,900 net rentable square feet. It includes approximately 310 units, offering interior climate-controlled and drive-up units. The facility features an advanced keyless entry system that ensures heightened security and convenient access for customers. This cutting-edge technology significantly improves the overall customer experience.
Strategically positioned near the St. Albert Trail, a major thoroughfare connecting St. Albert to Edmonton, this facility enjoys excellent visibility from high traffic. The area’s above-average median household income within a five-mile radius further strengthens its ideal location. With residential rental units expected to double in the surrounding area in the next few years, this facility is well-positioned to serve a variety of neighborhoods, including Inglewood, Oakmont, Woodlands, Pineview, Braeside, Sturgeon, Mission, Lacombe Park, Erin Ridge, Forest Lawn, Grandin, North Ridge, and Deer Ridge.
A significant expansion is planned for the first half of 2025, with completion anticipated in the first half of 2026. This expansion will add approximately seven drive-up buildings and 640 units, expanding the total combined net rentable square feet to approximately 70,500 square feet. The additional capacity will meet growing demand, demonstrating our commitment to growth and exceptional customer service.
H. Michael Schwartz, CEO and President of SSGT III, expressed his enthusiasm for this new addition to the company’s portfolio. “The acquisition of the St. Albert facility represents a significant milestone as it serves as the first property acquired in the greater Edmonton area and province of Alberta for SSGT III. We are excited to offer the community a top-tier storage solution that combines convenience, security, and accessibility.”
About Strategic Storage Growth Trust III, Inc. (SSGT III):
SSGT III is a Maryland corporation that was elected to qualify as a REIT for federal income tax purposes. SSGT III’s primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada. As of September 19, 2024, SSGT III has a portfolio of seven operating properties in the United States, comprising approximately 5,160 units and 556,400 rentable square feet, two operating properties in Canada, comprising approximately 1,080 units and 118,700 rentable square feet and joint venture interests in two developments in two Canadian provinces (Québec and British Columbia). In addition, a subsidiary of SSGT III serves as the sponsor of a Delaware Statutory Trust, which owns two operating properties in the United States comprising approximately 1,040 units and 123,000 rentable square feet.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of September 19, 2024, SmartStop has an owned or managed portfolio of 201 operating properties in 22 states and Canada, comprising approximately 141,400 units and 16.0 million rentable square feet. SmartStop and its affiliates own or manage 36 operating self-storage properties in Canada, which total approximately 31,000 units and 3.2 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Contacts
David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
IR@smartstop.com
RioCan Real Estate Investment Trust Announces September 2024 Distribution
TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced a distribution of 9.25 cents per unit for the month of September. The distribution will be payable on October 7, 2024, to unitholders of record as at September 30, 2024.
About RioCan
RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at June 30, 2024, our portfolio is comprised of 187 properties with an aggregate net leasable area of approximately 33 million square feet (at RioCan’s interest). To learn more about us, please visit www.riocan.com.
Contacts
RioCan
Kim Lee
Vice President, Investor Relations
(416) 646-8326
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