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Moving day: September 2026 industry hires and promotions. For your information, reference, and networking needs, here are the moves, hires, and promotions the real estate and development industry saw in September 2026. October 08, 2026 Storeys know you like to know what's up. For your information, reference, and networking needs, here are the moves, hires, and promotions the real estate and development sector saw in September 2026: Jessica Summers has joined Mattamy Asset Management as Communications Specialist. Emily Valentini has joined Northcrest Developments as Director of Investments. Carley Balian has joined Allied Properties REIT as a Portfolio Operations Manager Lorrie King has joined Elysium Investments as Managing Director. Connie Amero has joined JLL Canada as Senior Vice President. Roheena Kohi has been promoted to Community Manager at Morguard. Stefanie Siu Chong has been named Head of BDP Quadrangle's Toronto studio. James Newlands has been promoted to Partner of MHBC Planning. Cortney Simkins has joined CIBC as Director of Real Estate Corporate Banking. Stephanie Marshall has returned to Colliers as Managing Director of Victoria Brokerage. Daniel Patrick has joined Carlson Construction as Project Manager. Marcello Ieropoli has joined CMHC as Senior Specialist of IT Portfolio James Lawrence has joined CAPREIT as Chief Operating Officer. Steffan Smith has started a new position as EVP, Chief Operating Officer at GWL Realty Advisors. Brendan Keefe has joined Peakhill Capital as a Director for Peakhill Opportunity REIT. Victoria Scott has been promoted to Associate Vice President at CBRE Canada. Madeline Clement has joined Jim Pattison Developments Ltd. as Vice President, Asset Management. Former Remax Canada president Christopher Alexander has joined Pathmark Partners as a senior advisor. Marib Pirzada has a new position as Senior Development Manager at Mattamy Homes. Joe Almeida is celebrating 35 years at Avison Young. Nicholas Carusi starting a new position as Director, National Real Estate Group at TD. Derek Kang has joined Canderel Group as Associate of Investments. Stephen Robinson has joined Morgan Construction and Environmental as Assistant Project Manager. Megan Borg has been promoted to Client Partnership Lead, Corporate Accounts at Colliers. Sabrina Loria has joined Beedie as Marketing Manager of Industrial. Michelle Yung has joined McCarthy Tétrault's Calgary Real Estate Group as Partner. Frédérique Dombrowski has joined the Canadian Housing Acquisition Fund as Director of Communications and Engagement. Emily Schinko has joined CMHC as a Specialist of Training. * For the biggest hires, promotions and professional achievements in Canadian construction, check out SiteNews. * For the new hires, promotions, appointments and achievements across the environment industry, check out Environment Journal.

Is this 12.2%-yielding stock too good to be true? Allied Properties REIT's 12.2% yield looks tempting, but investors should weigh weakening cash flow against its improving leasing and debt-reduction efforts. Published October 1, 9:15 pm EDT Key Points * Allied Properties REIT offers a 12.2% annualized yield after its unit price fell about 66% over the last year. * The REIT's second-quarter AFFO dropped 46.9% YoY, and the AFFO payout ratio reached 104.5%, keeping distribution coverage in focus. * Improving leasing and a roughly $500 million disposition program could support deleveraging and a potential longer-term recovery. There is a big reason experienced dividend investors usually get nervous when a stock's yield moves into double digits. Although a payout with a double-digit yield can create a lot of income, it can also disappear quickly if the business can't support it. Let's take a closer look at a Canadian dividend stock that's currently yielding 12.2% and find out whether its fundamentals are strong enough to support that dividend payout in the long run. Why Allied's yield is so high. The stock I'm talking about here is Allied Properties Real Estate Investment Trust (TSX: AP.UN). This real estate investment trust (REIT) owns and operates urban workspace in major Canadian cities, with a large presence in Toronto and Montréal. Its portfolio includes office, retail, and flexible workspace properties. After tanking by nearly 66% over the last year, AP.UN stock currently trades at $7.15 per share with a market cap of about $1.3 billion. That steep decline has pushed Allied's annualized yield to 12.2%. That massive selloff is mainly due to pressure on the business. In the second quarter, Allied's rental revenue fell 3.1% year-over-year (YoY) to $140.5 million. Its operating income dropped 12.7% YoY as non-renewals, dispositions, lower development fee income, decapitalized operating costs, and a retroactive property tax assessment all weighed on its results. The payout is where the risk shows up. The REIT's funds from operations (FFO) dived 31% YoY to $47.5 million in the second quarter, while its adjusted funds from operations (AFFO) dropped 46.9% YoY to $33.7 million. More importantly for income investors, Allied's second-quarter AFFO payout ratio reached 104.5%. Its distributions are expected to remain above cash available to Allied in the near term, although that gap should improve as asset-sale proceeds reduce debt and lease-up activity supports the portfolio. For now, the REIT plans to maintain monthly distributions at an annualized rate of $0.72 per unit. In this case, leverage is another issue to watch. Last quarter, Allied's net debt-to-annualized adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio stood at 12 times, while its interest coverage ratio was 1.9 times. But the company is targeting a mid-11 times net debt-to-EBITDA ratio by year-end. What could turn the story around. Even with those risks in the near term, investors with the risk appetite may want to consider this high-yield stock today. Notably, Allied ended the second quarter with occupied and leased area of 84.4% and 86.7%, respectively, both ahead of expectations. Its total leasing pipeline increased 11% during the quarter and was up 33% from the start of 2026. Meanwhile, its focus on asset sales could also help. The company completed $243 million of dispositions by the end of the second quarter, with another $78 million firm. That brought its secured year-to-date proceeds to about $321 million. With this, the REIT remains on track toward roughly $500 million of 2026 dispositions, and it plans to use those proceeds to repay debt. That's why for investors comfortable with turnaround risk, Allied's beaten-down unit price and 12.2% yield make its stock interesting today. Still, with AFFO under pressure and payout coverage stretched, that income comes with a significant risk as its recovery now depends heavily on better leasing, successful asset sales, and continued deleveraging.