GTA Multi-Family Market Report Q2 2019

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The Greater Toronto Area’s multi-family market has almost doubled its transaction volume the last quarter. Prices per unit have declined since the last quarter due to the lack of Toronto-centric portfolio dispositions – remaining well above the 2018 average of $248K/Unit.

Toronto just experienced a 25-year high for rental unit completions – with 3,078 suites completed over the past 12 months – an increase of 1% of the total purpose-built rental supply (excluding government housing).

The+ average cap rate this quarter was 3.52% - a 6 bps increase from last quarter, but also well below the 2018 average. Twenty-seven buildings were sold across the GTA totaling over $745M – almost twice the transaction volume seen in the previous quarter.


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GTA Multi-Family Market Report Q2 2019

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For More Information, Please Contact:

Dayma Itamunoala

Senior Sales Representative

Toronto West

As part of the National Investment Team at Colliers, Dayma is recognized as a leading specialist in the disposition of multifamily property across Ontario. As a member of the Federation of Rental-Housing Providers of Ontario (FRPO), he is an active member of the multifamily community, regularly participating on expert panels and in industry events. Dayma has a consistent and reliable pulse on the most active and aggressive purchasers, ensuring they are highly engaged on each transaction. In the last 6 months Dayma has sold over $300M worth of apartment buildings. His experience has allowed him to work with all tiers of investors, including institutions, international investors, REIT’s, developers, and private-capital individuals. He is recognized for his unsurpassed market knowledge, diligent focus on client success, and for his commitment to integrity.

Dayma was born and raised in Toronto, Ontario. He attended the Ivey School of Business at Western University where he graduated with Honors.

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