Cogir Acquires Bayfield Realty Advisors and Continues Its Pan-Canadian Expansion
October 6, 2025
Montreal, October 1, 2025 – Cogir Real Estate is pleased to announce the acquisition of Bayfield Realty Advisors, a company specializing in the management and development of commercial properties with additional involvement in multi-family assets, consisting of a portfolio of 18 properties across the country including more than 2.54 million square feet of retail assets. This transaction represents an important milestone for Cogir, as it marks the first expansion of its commercial division outside of Quebec. With this acquisition, Cogir broadens its presence in Ontario, Saskatchewan, Alberta, and British Columbia, while further strengthening its footprint in Quebec.
Among Bayfield’s assets historically managed by Cogir are Galeries des Sources, Carrefour Pelletier, Carrefour Trois-Rivières, and Résidence du Verger. In addition to managing these commercial assets, Cogir is also taking over Bayfield’s Toronto downtown service office, which will continue operations following the transaction. In total, approximately forty employees will be joining the larger Cogir family.
“I am very proud of this transaction, which allows the commercial division—the very foundation of Cogir—to take a major step forward by now expanding nationwide. This is a pivotal moment and a great source of pride for the entire team,” said Mathieu Duguay, President and Chief Executive Officer of Cogir Real Estate.
“Venturing into a market beyond Quebec is an exciting challenge. This new horizon brings renewed motivation and energy to our team, and we are enthusiastic to share Cogir’s expertise across several new Canadian markets while growing alongside new partners,” added Nicolas Poirier, Senior Vice President, Commercial Division at Cogir.
Bayfield Realty Advisors was established in 2005 by Harold Spring, and has grown significantly over the past 2 decades, providing both institutional investors and partners, as well as numerous family offices and private investors, with enviable returns on their investments.
“After a generation of growth and success, it is with mixed emotion that I announce my retirement and sale of Bayfield, however I am excited about the prospects under Cogir’s stewardship. Their evolution under the leadership of Mathieu Duguay has been remarkable and Bayfield is going to benefit significantly from this acquisition”. Bernard Ockrant, who will remain as partner and CIO, added, “Growing Bayfield’s Institutional platform was a key consideration for the sale of our company, and Cogir provides the ideal basis and capital to foster our future growth. We are excited to be part of the Cogir family”.
For clients, partners, and tenants, operations will continue as usual, with ongoing consistency in management and a forward-looking vision centered on growth and innovation—key strengths of Cogir.
This acquisition underscores Cogir’s commitment to strengthening its national expertise and to remaining a leading player in the Canadian real estate sector.
About Cogir Real Estate
Founded in 1995, Cogir Real Estate now has nearly 20,000 employees passionate about real estate. Driven by our constant desire to bring meaning to real estate, we strive to humanize, create, and excel in order to design living environments that are enjoyable, functional, and reflective of the people who inhabit them. Our team manages more than 520 properties located in Canada and the United States. We oversee nearly 7 million square feet of commercial properties and 74,000 housing units, including more than 270 private senior residences. The Cogir Foundation supports projects and causes focused on four main pillars: youth, seniors, cultural diversity, and the environment.
About Bayfield Realty Advisors
From its inception in 2005, Bayfield has been acquiring, developing, intensifying and enhancing real estate assets across the country. Founded by Harold Spring after a successful and diversified career encompassing both legal practices and real estate syndications, Bayfield has since evolved into a top-tier private equity real estate investment firm with disciplines in Asset, Property, Leasing, and Development management. Throughout its history, Bayfield has added value to residential, retail, industrial, office and retirement assets totaling in excess of $1.5Bln.
Vale Proposes $325 Million Nickel Sulfate Plant in Quebec, Aiming to Boost Local Battery Supply Chain
July 23, 2025
Vale is advancing plans to build a $325 million nickel sulfate facility in Quebec’s Bécancour industrial park—marking the first project of its kind in North America. Unlike other companies that have stalled or withdrawn from battery-related investments, Vale is moving forward with a strategic focus on supplying a key battery material rather than manufacturing batteries themselves. The plant is designed to produce nickel sulfate used in lithium-ion battery cathodes, addressing a projected global supply shortage by 2030. The Quebec government has already signaled its support with a $55 million loan offer, and the Bureau d’audiences publiques sur l’environnement (BAPE) will hold public consultations starting June 17.
This initiative is a major win for the local market, particularly in the Centre-du-Québec region. The project will process 25,000 tonnes of nickel annually—enough to support batteries for 375,000 electric vehicles—and create 65 high-quality jobs. The processed material will be delivered directly to Ultium CAM, a nearby cathode manufacturer and joint venture between General Motors and Posco, via a dedicated pipeline. This integrated supply chain strengthens Bécancour’s position as a core hub in Quebec’s growing battery ecosystem and reduces dependence on international sources, especially in an industry facing geopolitical uncertainty.
Vale’s commitment brings much-needed stability and optimism amid setbacks in other Canadian electrification efforts, such as Honda pausing EV plans in Ontario and Ford withdrawing from a Bécancour cathode plant. By leveraging its existing operations in Newfoundland and Ontario, Vale reinforces the regional value chain and injects long-term investment into Quebec’s clean technology sector. Even in the face of global supply chain risks, Vale’s local-first approach is poised to yield sustainable benefits for the provincial economy and its energy transition goals.
Source: La Presse
Author: Julien Arsenault
Published: June 9, 2025
Canada Nickel raises $20-million from Ontario First Nation in record financing
Canada Nickel Co. Inc. has raised $20 million from Taykwa Tagamou Nation, a Cree First Nation in Northern Ontario. This is the largest investment of its kind in Canada’s critical minerals industry and could serve as a model for other companies. In exchange for their investment, the First Nation is buying convertible notes with a 4.75% annual interest rate. These notes can be turned into an 8.3% equity stake in Canada Nickel. The deal also gives Taykwa Tagamou Nation a seat on Canada Nickel’s board, allowing them to help guide the Crawford nickel-cobalt project.
The Crawford project, located near Timmins, Ontario, aims to supply nickel for the electric vehicle (EV) industry. Canada Nickel plans to use carbon-capture technology to reduce the environmental impact of the project. Chief Bruce Archibald of Taykwa Tagamou Nation explained that the community is investing because the project focuses on environmental sustainability. The First Nation has been working with Canada Nickel since 2019 and is also exploring ways to support the project with energy and mining truck services.
This deal is important for both the community and the mining industry. Historically, Indigenous groups faced challenges investing in large-scale resource projects due to laws that limited access to capital. However, new funding programs have made such investments possible. Taykwa Tagamou Nation does not need a loan for the investment, as the community has the funds available. Canada Nickel is now waiting for permits to begin building Crawford, with production expected by late 2027.
Source: The Globe & Mail (Ontario Edition)
Author: Niall McGee
Published: December 17, 2024
Canada Nickel touts processing in Ontario, but financing unclear
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