Westmount shopping centre has a new owner
Shmuel Farhi, a prominent property owner, says he has big plans for the largest shopping mall in west London. CTV's Bryan Bicknell reports.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
13 minutes ago
- CBC
Canadian home sales role 6.6% in July compared to last year
The Canadian Real Estate Association (CREA) says home sales in July rose 6.6 per cent compared with a year ago, continuing an upward trend after the market had slowed in previous months. Home sales rose 3.8 per cent on a month-over-month basis from June, with transactions up a cumulative 11.2 per cent since March. "The long-anticipated post-inflation crisis pickup in housing seems to have finally arrived," said CREA senior economist Shaun Cathcart, adding the association plans to monitor how buyers react to the "burst of new supply that typically shows up in the first half of September." There were 202,500 properties listed for sale across Canada at the end of July, up 10.1 per cent from a year earlier and in line with the long-term average for that time of the year.
Globe and Mail
42 minutes ago
- Globe and Mail
Logistic Properties of the Americas and Strategic Partner Alas Complete Purchase of Puebla Logistics Facilities
Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, 'LPA' or the 'Company'), a leading developer, owner and manager of institutional quality, Class A industrial and logistics real estate across Latin America, announced today the closing of a previously announced asset acquisition as part of its strategic partnership with Inmobiliaria y Constructora Alas, S.A. ('Alas' or 'Falcon'). This key milestone aligns with LPA's strategy to expand its regional presence in Latin America. Through the partnership and purchase, LPA will acquire a premier logistics asset in Puebla, Mexico, marking its first investment in the country's vibrant and strategically vital logistics real estate market. Ownership of the property will be distributed as 90% by Alas and 10% by LPA. The property comprises two operating logistics buildings totaling 257,700 square feet of gross leasable area, which are strategically located across from Volkswagen's largest manufacturing facility outside of Germany. The site plays a critical role in Mexico's supply chain, which has supported automotive production and exports to the U.S. and other Latin America countries for many years. The Puebla property is anchored by and primarily leased to DHL, a global logistics leader, and is projected to generate approximately USD $1.6 million in annual net operating income. This transaction advances LPA's strategy to acquire mission-critical logistics assets that support essential, difficult-to-replace supply networks. Additionally, it lays the groundwork for future growth in Mexico through strategic, purpose-driven partnerships that emphasize differentiation and value creation. 'Our strategic partnership with Alas and initial co-investment are fundamental milestones in LPA's long-term expansion strategy that encompasses Mexico, enabling us to serve both current and future high-profile global clients like DHL,' said Esteban Saldarriaga, Chief Executive Officer of LPA. 'The partnership combines Alas's deep local market knowledge with LPA's proven operational and institutional expertise. The integration of the Puebla facilities into LPA's regional real estate platform showcases the power of strategic alliances to deliver sustained value in a high-demand logistics corridor.' 'We are proud to partner with LPA on this landmark transaction,' added Francisco Alvarez, Co-CEO of Alas. 'Our aligned vision and complementary strengths have enabled us to establish a foothold in one of the most strategically vital locations within Mexico's extensive industrial sector. This marks the first step to expand LPA's leading logistics real estate platform into Mexico, one that we believe has considerable growth potential as well as the capacity to deliver and generate substantial value over time.' About Logistic Properties of the Americas Logistic Properties of the Americas is a leading developer, owner, and manager of institutional quality industrial and logistics real estate in high-growth and high-barrier-to-entry markets in Central and South America. LPA's customers are multinational and regional e-commerce retailers, third-party logistic operators, business-to-business distributors, and retail distribution companies among others. LPA expects to continue its future growth with strong client relationships, and insight into and through the acquisition and development of high-quality, strategically located facilities in its target markets. As of June 30, 2025, LPA's operating and development portfolio was comprised of 33 logistics facilities in Costa Rica, Colombia and Peru totaling approximately 536,000 square meters (or approximately 5.8 million sq. ft.) of gross leasable area. For more information visit Forward-Looking Statements This press release contains certain forward-looking information, which may not be included in future public filings or investor guidance. The inclusion of forward-looking information in this press release should not be construed as a commitment by LPA to provide guidance on such information in the future. Certain statements in this press release may be considered forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements about future events or LPA's future financial or operating performance. These forward-looking statements regarding future events and the future results of LPA are based on current expectations, estimates, forecasts, and projections about the industry in which LPA operates, as well as the beliefs and assumptions of LPA's management. These forward-looking statements are only predictions and are subject to known and unknown risks, uncertainties, assumptions and other factors beyond LPA's control that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. They are neither statements of historical fact nor promises or guarantees of future performance. Therefore, LPA's actual results may differ materially and adversely from those expressed or implied in any forward-looking statements and LPA therefore caution against relying on any of these forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by LPA and its management, are inherently uncertain and are inherently subject to risks variability and contingencies, many of which are beyond LPA's control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the possibility of any economic slowdown or downturn in real estate asset values or leasing activity or in the geographic markets where LPA operates; (ii) LPA's ability to manage growth; (iii) LPA's ability to continue to comply with applicable listing standards of NYSE American; (iv) changes in applicable laws, regulations, political and economic developments; (v) the possibility that LPA may be adversely affected by other economic, business and/or competitive factors; (vi) LPA's estimates of expenses and profitability; (vii) the outcome of any legal proceedings that may be instituted against LPA and (viii) other risks and uncertainties set forth in the filings by LPA with the U.S. Securities and Exchange Commission. There may be additional risks that LPA does not presently know or that LPA currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of LPA speak only as of the date they are made. Except as otherwise required by applicable law, LPA disclaims any obligation to publicly update or revise any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. Accordingly, you should not place undue reliance on forward-looking statements due to their inherent uncertainty. Nothing within this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.
National Post
42 minutes ago
- National Post
Slate Grocery REIT Announces Distribution for the Month of August 2025
Article content TORONTO — Slate Grocery REIT (TSX: SGR.U) (TSX: (the 'REIT'), an owner and operator of U.S. grocery-anchored real estate, announced today that the Board of Trustees has declared a distribution for the month of August 2025 of U.S.$0.072 per class U unit of the REIT ('Class U Units'), or U.S.$0.864 on an annualized basis. Article content Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election. Article content Holders of class A units of the REIT ('Class A Units') will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of U.S.$0.072 per Class A Unit, unless the unitholder has elected to receive distributions in U.S. dollars. Holders of class I units of the REIT ('Class I Units') will receive a distribution of U.S.$0.072 per Class I Unit, unless the unitholder has elected to receive distributions in Canadian dollars. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units ('Exchangeable Units') will receive a distribution of U.S.$0.072 per unit. Article content If a holder of Class U Units or Class I Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units or Class I Units, as applicable, based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution. Article content Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on September 15, 2025, to unitholders of record as of the close of business on August 29, 2025. Article content About Slate Grocery REIT (TSX: SGR.U / Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT's resilient grocery-anchored portfolio and strong credit tenants are expected to provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit Article content Article content to learn more about the REIT. Article content About Slate Asset Management Article content Slate Asset Management is a global investor and manager focused on essential real estate and infrastructure assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners across the real assets space. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit Article content LinkedIn Article content , Article content X (Twitter) Article content , and Article content Instagram Article content . Article content Forward-Looking Statements Article content Certain information herein constitutes 'forward-looking information' as defined under Canadian securities laws which reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words 'plans', 'expects', 'does not expect', 'scheduled', 'estimates', 'intends', 'anticipates', 'does not anticipate', 'projects', 'believes', or variations of such words and phrases or statements to the effect that certain actions, events or results 'may', 'will', 'could', 'would', 'might', 'occur', 'be achieved', or 'continue' and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Article content Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators. Article content Article content Article content Article content Article content Contacts Article content For Further Information Article content Article content Article content Article content
