TORONTO–(BUSINESS WIRE)–The Board of Trustees (the “Board”) of RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced that it has appointed Guy Metcalfe as a Trustee effective February 1, 2024. Mr. Metcalfe will join the Board’s Investment Committee and the People, Culture and Compensation Committee.

Mr. Metcalfe is an accomplished executive who joined Morgan Stanley in 1990, was a member of the Investment Bank’s Executive Committee and led its Real Estate Investment Banking business for over two decades, serving most recently as Global (Executive) Chairman, until his retirement on January 31, 2024. During his more than 30-year career at Morgan Stanley, Mr. Metcalfe advised clients on over $850 billion of transactions and also served as a trusted advisor to the CEOs and leaders of many of the world’s leading real estate companies. Mr. Metcalfe has played a leading role in some of the largest public company transactions in the United States and in many marquee real estate deals in Europe. Throughout his career, he has dedicated his time to numerous charitable causes and he currently serves on the Board of the Child Mind Institute, an independent non-profit organization dedicated to transforming the lives of children and families struggling with mental health and learning disorders.

“On behalf of RioCan’s Board of Trustees, we are extremely pleased to welcome Guy Metcalfe to RioCan’s Board. Guy is a widely respected leader whose experience, business acumen and extensive knowledge of capital markets and the real estate and banking industries will be a tremendous asset and complement the depth of expertise currently on our Board,” said Ed Sonshine, Chairman of the Board. “We look forward to working with him and are confident that he will make meaningful contributions that will help RioCan in achieving its strategic objectives and in its commitment to responsibly and sustainably deliver long-term unitholder value.”

Mr. Metcalfe holds an Honours B.A. in Business Administration from the Ivey Business School at Western University.

For more information on RioCan’s Board, please visit https://www.riocan.com/investors/board-of-trustees.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2023, our portfolio is comprised of 192 properties with an aggregate net leasable area of approximately 33.6 million square feet (at RioCan’s interest) including office, residential rental and 10 development properties. To learn more about us, please visit www.riocan.com.

Contacts

RioCan
Kim Lee

Vice President, Investor Relations

(416) 646-8326

DUBLIN–(BUSINESS WIRE)–The “Canada Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market France, 2023-2027” report has been added to ResearchAndMarkets.com’s offering.

The construction industry in Canada is expected to have shrunk by 1.7% in 2023, with the industry projected to contract further by 3.1% in 2024, owing to a weak economic outlook, falling building permits, high building construction prices, and continued weakness in the residential sector amid a tightening of monetary policy.

According to Statistics Canada, the total value of building permits issued fell by 7.2% year-on-year (YoY) in the first ten months of 2023, owing to a 14.9% YoY fall in residential building permits issued. In another setback to the industry, in August 2023, Canada’s Alberta Province halted 118 renewable energy projects involving a total investment of CAD33 billion ($25.6 billion) until February 2024, to review renewable energy policies.

The publisher expects the Canadian construction industry to rebound at an annual average rate of 2.2% during 2025-27, supported by developments in the energy, transport, industrial and residential sectors. In November 2023, the federal government launched the CAD1.5 billion ($1.2 billion) Critical Minerals Infrastructure Fund (CMIF), under which clean energy, electrification initiatives, as well as transportation projects will be supported for a period of seven years.

Forecast-period growth in the industry will also be supported by investments in public housing projects, in line with the government’s target to improve housing supply in the country. In November 2023, the federal and provincial government of Quebec announced that they will each invest CAD900 million ($698.3 million) over the next four years to accelerate housing construction in Quebec; the funding will be provided as part of the CAD4 billion ($3.1 billion) Housing Accelerator Fund, that was launched in March 2023 to build 100,000 homes in Canada.

According to the estimates of the Canada Mortgage and Housing Corporation (CMHC), the country needs to build an additional 3.5 million homes – on top of the current pace of building – by the end of this decade to restore affordability.

Scope

• Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Canada, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using the standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using the critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 Risk Profile

4 Construction Outlook

4.1 All Construction

• Outlook
• Latest news and developments
• Construction Projects Momentum Index

4.2 Commercial Construction

• Outlook
• Project analytics
• Latest news and developments

4.3 Industrial Construction

• Outlook
• Project analytics
• Latest news and developments

4.4 Infrastructure Construction

• Outlook
• Project analytics
• Latest news and developments

4.5 Energy and Utilities Construction

• Outlook
• Project analytics
• Latest news and developments

4.6 Institutional Construction

• Outlook
• Project analytics
• Latest news and developments

4.7 Residential Construction

• Outlook
• Project analytics
• Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/7pfp5o

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.

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

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TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REIT (TSX: DRR.U and TSX: DRR.UN) (“Dream Residential” or the “REIT”) will be releasing its financial results for the quarter ended December 31, 2023, on Wednesday, February 14, 2024.

Senior management will be hosting a conference call to discuss the financial results. Participants may join the conference call by audio or webcast.

Conference Call:
Date:		Thursday, February 15, 2024 at 10:00 a.m. (ET)
Audio:		1-800-319-4610 (toll free)
		416-915-3239 (toll)
Webcast:		A live webcast will also be available in listen-only mode. To access the simultaneous webcast, go to the Calendar of Events on the News and Events page on Dream Residential’s website at www.dreamresidentialreit.ca and click the link for the webcast.
Digital Replay:		A taped replay of the call will be available for ninety (90) days. For access details, please click on the Calendar of Events on Dream Residential’s website.

About Dream Residential

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Contacts

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau
Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman
Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca

TORONTO–(BUSINESS WIRE)–DREAM INDUSTRIAL REIT (TSX: DIR.UN) (“Dream Industrial”) will be releasing its financial results for the quarter ended December 31, 2023, on Tuesday, February 13, 2024.

Senior management will be hosting a conference call to discuss the financial results. Participants may join the conference call by audio or webcast.

Conference Call:
Date:		Wednesday, February 14, 2024 at 11:00 a.m. (ET)
Audio:		1-800-806-5484 (toll free)
		416-340-2217 (toll)
Passcode:		1104570#
Webcast:		A live webcast will also be available in listen-only mode. To access the simultaneous webcast, go to the Calendar of Events on the News and Events page on Dream Industrial REIT’s website at www.dreamindustrialreit.ca and click the link for the webcast.
Digital Replay:		A taped replay of the call will be available for ninety (90) days. For access details, please click on the Calendar of Events on Dream Industrial’s website.

About Dream Industrial

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 322 assets totalling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit. For more information, please visit our website at www.dreamindustrialreit.ca.

Contacts

Alexander Sannikov
President and Chief Executive Officer

(416) 365-4106

asannikov@dream.ca

Lenis Quan
Chief Financial Officer

(416) 365-2353

lquan@dream.ca

CALABASAS, Calif.–(BUSINESS WIRE)–#apartmentmentinvestments—Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services has released its 2024 Canada Investment Forecast Report. The report provides a detailed national economic perspective and multifamily, retail, office, industrial and hospitality sector overviews for major markets throughout Canada.

“With inflation trending down and the labor market cooling, the Central Bank is expected to begin cutting interest rates as early as the second quarter,” said Mark Paterson, first vice president and regional manager of Marcus & Millichap’s Toronto and Ottawa offices. “This is likely to aid economic growth over the latter half of the year and cause commercial real estate transaction activity to gain momentum as underlying fundamentals across most property types and markets remain healthy.”

Highlights of the report include:

• Canada’s population expanded at a record-setting pace as of the third quarter of last year, growing 3.2 per cent annually amid historic immigration. Combined with limited housing supply across the country, multifamily performance will remain robust over the coming year.
• Given record population growth expanding Canada’s consumer base, a relatively healthy labor market and limited supply, Canada’s retail property sector is well-positioned for 2024. This is especially true for essential-based neighborhood retail as the sector’s stability and its role in servicing communities seeing strong population growth are resulting in healthy investor and tenant demand.
• Industrial assets are expected to remain a preferred investment option. While the national vacancy rate is forecast to trend up further due to softening demand and elevated levels of new supply coming to market, it is still notably lower compared to years past. Tight vacancy, even in the face of substantial construction, is reinforcing the sector’s strength.

Access Marcus & Millichap’s 2024 Canada Investment Forecast Report here.

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

Contacts

Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
510-999-1284

TORONTO–(BUSINESS WIRE)–DREAM OFFICE REIT (TSX: D.UN) (“Dream Office” or the “Trust”) today announced its January 2024 monthly distribution of 8.333 cents per REIT Unit, Series A ($1.00 annualized). The January distribution will be payable on February 15, 2024 to unitholders of record as at January 31, 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

TORONTO–(BUSINESS WIRE)–Metropolitan Hardwood Flooring (Metropolitan Floors), a leading manufacturer and distributor of premium Kentwood engineered hardwood dazzled at the Interior Design Show, unveiling their new and notable collections as well as the winning entry of their esteemed Metropolitan Design Challenge.

The annual Interior Design Show (IDS), held at the Metro Toronto Convention Centre, returned last week, wrapping on Sunday, January 21, after a four-day run. The show featured hundreds of exhibitors, including Metropolitan Floors. The event saw an impressive turnout, with dealers, distributors, architects and design professionals in attendance.

For Metropolitan Floors, IDS has been a long-standing tradition. “We’ve been attending IDS for many years,” said Wilf Selfe, vice president, of Eastern Canada, at Metropolitan Floors. “The audience this show brings with architects, builders, and designers is unparalleled. We hope to continue to foster closer relationships with the A&D community, closer relationships with builders and to showcase our new products and our mission as a company, at large.”

Sheridan College Students Win 2024 Design Challenge

During IDS, Metropolitan Floors announced the 2024 Metropolitan Design Challenge winners, spotlighting Jenny Bae Huggon, Gigi Lombardo-Dybalski, and Natalie Guberney, all of whom attend Sheridan College. Their design, called “Origins,” was constructed and showcased at Metropolitan’s booth for attendees to admire. The installation invited viewers to interact with it through the use of a map, inspiring them to document their own ‘origins.’

Open to Ontario students enrolled in a post-secondary interior design program, the challenge awards the winning design with a cash prize of fifteen hundred dollars. “The challenge is all about giving back to the design community. It’s rewarding for us because we always look forward to seeing how students draw inspiration from the theme and use our products,” said Joe Cosentino, Builder – Commercial Business Manager, Eastern Canada, at Metropolitan Floors.

Further, the Design Challenge is a manifestation of Metropolitan’s core values, an ethos to design the most sustainable and ethically made flooring. This year, the challenge took inspiration from Metropolitan’s Clean Floors program, a forest-to-floor quality assurance and environmental compliance program. The theme of the challenge, coined “Crafted with Conscience,” challenged participants to design an installation that gives both meaning and life to the phrase and incorporates Kentwood’s latest flooring designs.

The winning students were thrilled to have their design showcased at the event. “We were really inspired by how Kentwood knows the origins of their wood,” said Gigi Lombardo-Dybalski.

“It was such a fun project for us to undertake. We wanted to symbolize our connection to the earth but also to each other,” said Natalie Guberney.

“Our hope with the piece is that it provokes conversation amongst people as they view it,” added Jenny Bae Huggon.

Metropolitan Has the Floor: New and Notable 2024 Collections Launch

Metropolitan Floors launched new 2024 flooring designs during IDS. Featuring ten new and notable collections with beautiful selections from Kentwood and Evoke Flooring, the new offerings include extra-wide plank-engineered hardwood, luxury vinyl flooring for light to heavy commercial applications, timeless herringbone designs, and much more.

IDS marks the first of a series of Metropolitan Floors industry events in 2024. They will roll out at select Metropolitan Floors studios and showrooms across North America this spring. These events will serve as the perfect opportunity for the A&D community to learn more about the brand and view their collections.

Explore the Kentwood engineered hardwood and Evoke luxury vinyl, laminate, rigid core, and Surge© flooring solutions manufactured and designed by Metropolitan.

About Metropolitan Hardwood Floors Inc.

Metropolitan Floors is a manufacturer and distributor of premium Kentwood-engineered hardwood and Evoke luxury vinyl, laminate, rigid core, and Surge® flooring. Founded as a hardwood flooring retailer in 1992, the company has grown to become a leading manufacturer and distributor of specialty flooring products and an end-to-end flooring solution provider. Metropolitan services Canada and the US from its North American design studios, warehouses, and distribution centers. Visit metrofloors.com for more information.

Contacts

For further information or interview requests please contact:

Marissa Themeles

marissa@elevatorinc.com
416-258-7595

Borjana Bejatovic

Borjana@elevatorinc.com
416-258-3922