Ari Altstedter

Mumbai, Toronto

Reporter at Bloomberg News

Reporter with Bloomberg News. Views are my own.

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Articles

A $1.7 Billion Bet on Old Malls Is Pushing This Firm Past Rivals

5 days ago | bloomberg.com | Ari Altstedter

Les Galeries de la Capitale mall in Quebec City, which was sold to Primaris last year. (Bloomberg) -- The best returning real estate investment trust in Canada has made its money by offering the country’s pension funds a way out of a type of property they don’t want. And it’s only getting started. Primaris Real Estate Investment Trust has hoovered up old malls since its creation in 2022, striking more than C$2.4 billion ($1.7 billion) in deals.
Oxford Properties to Buy CPPIB Stake in $1.1 Billion of Offices

1 week ago | news.bloomberglaw.com | Ari Altstedter |Layan Odeh

Oxford Properties, which helped develop New York City’s Hudson Yards, struck a deal to buy out Canada Pension Plan Investment Board’s stake in seven office buildings, valuing the portfolio at C$1.5 billion ($1.1 billion), according to a person familiar with the matter.
Oxford Properties to Buy CPPIB Stake in $1.1 Billion of Offices

1 week ago | bloomberg.com | Ari Altstedter |Layan Odeh

Oxford Properties Group Inc. signage is displayed at Yorkdale mall in Toronto, Ontario, Canada, on Thursday, Aug. 22, 2019. Statistics Canada (STCA) is scheduled to release consumer price index data on September 18. (Bloomberg) -- Oxford Properties, which helped develop New York City’s Hudson Yards, struck a deal to buy out Canada Pension Plan Investment Board’s stake in seven office buildings, valuing the portfolio at C$1.5 billion ($1.1 billion), according to a person familiar with the matter.
Toronto Home-Price Declines Accelerate Amid Trade War With US

1 week ago | news.bloombergtax.com | Ari Altstedter

The slump in Toronto home prices deepened in April as ongoing uncertainty over Canada’s trade war with the US causes listings to pile up on the market. The benchmark price of a home in Canada’s largest city fell 5.4% in April from a year earlier to C$1.01 million ($730,790), according to non-seasonally adjusted data released Tuesday by the Toronto Regional Real Estate Board. That’s a steeper decrease than the 3.8% price decline in March.
Toronto Home-Price Declines Accelerate Amid Trade War With US

1 week ago | news.bloomberglaw.com | Ari Altstedter

The slump in Toronto home prices deepened in April as ongoing uncertainty over Canada’s trade war with the US causes listings to pile up on the market. The benchmark price of a home in Canada’s largest city fell 5.4% in April from a year earlier to C$1.01 million ($730,790), according to non-seasonally adjusted data released Tuesday by the Toronto Regional Real Estate Board. That’s a steeper decrease than the 3.8% price decline in March.
Toronto Home-Price Declines Accelerate Amid Trade War With US

1 week ago | bloomberg.com | Ari Altstedter

Homes in Toronto. (Bloomberg) -- The slump in Toronto home prices deepened in April as ongoing uncertainty over Canada’s trade war with the US causes listings to pile up on the market. The benchmark price of a home in Canada’s largest city fell 5.4% in April from a year earlier to C$1.01 million ($730,790), according to non-seasonally adjusted data released Tuesday by the Toronto Regional Real Estate Board. That’s a steeper decrease than the 3.8% price decline in March.
Chicago Tower Hitting Market at Big Discount Shows City’s Stress

2 weeks ago | bloomberg.com | Ari Altstedter

The office building at 125 S. Wacker Dr. in Chicago. (Bloomberg) -- Canadian pension fund Caisse de Dépôt et Placement du Québec is seeking to sell a Chicago office tower in a deal that’s expected to generate bids 59% lower than its last purchase price about eight years ago, according to a person familiar with the matter. Ivanhoé Cambridge, CDPQ’s real estate arm, has hired Jones Lang LaSalle Inc. to market the building at 125 S.
Primer ministro de Canadá impulsa al país a convertirse en fábrica de casas: este es su plan

2 weeks ago | bloomberglinea.com | Ari Altstedter |Cole Burston

Bloomberg — En las afueras de Toronto, una fábrica llena de actividad se presenta como una solución a las dos crisis más urgentes que enfrenta Canadá: el costo inasequible de la vivienda y la guerra comercial del presidente estadounidense Donald Trump. Esta planta fabrica partes clave de las casas (específicamente paredes, pisos y techos) que pueden enviarse a un sitio y ensamblarse en estructuras de hasta seis pisos de altura más rápido que los métodos tradicionales.
Carney Pushes Canada to Become the Housing Factory of the World

3 weeks ago | news.bloombergtax.com | Ari Altstedter

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Carney Pushes Canada to Become the Housing Factory of the World

3 weeks ago | news.bloomberglaw.com | Ari Altstedter

On the outskirts of Toronto, a factory buzzing with activity is being touted as a solution to the two most urgent crises facing Canada: the unaffordable cost of housing and US President Donald Trump’s trade war. This plant makes key parts of houses — specifically, walls, floors and roofs — that can be shipped to a site and assembled into structures as tall as six stories quicker than traditional methods.