In the spring of 2011, RENX is launching a new weekly online publication called Property Biz Canada. It is going to provide original RENX news, analysis and commentary from a National perspective about the operating and development activities of the commercial real estate industry with an emphasis on Real Estate Investment Trusts (REITs), real estate operating companies (REOCs), pension fund owned and operated real estate companies as well as municipal, provincial and federal property assets and related Corporations.
Property Biz Canada will provide news about the commercial real estate industry, a sector of the economy that has gained prominence over the past 15 years. Real estate securities, particularly real estate investment trusts (REITs), have grown to become a popular choice for investors and money managers since first introduced in Canada in early 1990′s. Yield seeking investors looking for secure investments have increasingly turned to REITs and Real Estate Operating Companies (REOCs) following the rise and fall of the technology sector and more recently with the economic volatility associated with the recession.
Pension funds and other institutional investors have a majority interest in Class A commercial real estate in Canada that has a combined valued in excess of $100-billion. These property companies have become familiar names in the business community, Oxford Properties Group owned by the OMERs, Cadillac Fairview owned by the Ontario Teachers Pension Fund, SITQ and Ivanhoe Cambridge Shopping Centres owned by the Caisse de dépôt et placement du Québec and the Canada Pension Plan Investment Board who acquired the assets of O&Y Enterprises comprised of the building portfolio formerly owned by the Reichmann family in Canada.
In the wake of the recession, in 2010, most Canadian institutional investors have increased their allocation of investment dollars for property and infrastructure . They have also shifted their focus from domestic acquisitions and management to foreign investments.
Urban intensification has put pressure on all levels of Government to support increased development density. This trend has created new partnerships between the development industry, the commercial real estate sector including multi-residential builders, and owners of urban infrastructure, primarily municipalities but often with a Provincial and Federal interest.
The trend toward denser cities is being accelerated by public investment in transit lines, which create ideal locations for high density mixed use development. Government stimulus dollars directed toward infrastructure projects has further reinforced urban development. As a consequence cash strapped municipalities are forming new arms length property development corporations that facilitate the creation and execution of strategic plans for their real estate holdings.
All these trends combined mean the Canadian real estate professional as well as the average person in this country has a growing stake in this sector of the economy creating an expanding market for information concerned with the property business.
As Canada’s premier online news service for the Canadian real estate industry, with 8,000 subscribers, RENX is uniquely positioned to immediately start delivery of Property Biz Canada to its existing subscribers and to effectively market to a broader audience.
Property Biz Canada is RENX debut as a weekly news publisher a product that will supplement its already popular news aggregation service.
I look forward to launching Property Biz Canada in the spring of 2011.
I welcome your thoughts, suggestions and feedback about this new venture.