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Nanaimo Multifamily Market Report Q1 2020

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research article

Leading into the current COVID-19 situation, the mid-island multifamily market was experiencing high investor demand and low supply of available inventory resulting in a reduced sales volume in 2019 compared to 2018. To highlight the increased demand, two sales of investment product in the Nanaimo market transacted in the sub 4.0% capitalization rate range. This is unprecedented in the Mid-Island region. Looking forward, Colliers forecasts:

  • The total vacancy to increase due in large part to the approximately 713 rental units scheduled to be delivered to the Nanaimo market in 2020.
  • The COVID-19 pandemic will likely create some uncertainty in the market and could potentially add downward pressure on rental rates.
  • On a national basis, Multi-family rental is proving to be one of the best performing asset classes for rent collection and well located assets within the Mid Island region will continue to be in high demand.

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Nanaimo Multifamily Market Report Q1 2020

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For More Information, Please Contact:

Tyler Dolan

Managing Director, Vancouver Island and Okanagan

Victoria

yler Dolan is the Managing Director, Vancouver Island and Okanagan responsible for the execution of Colliers business strategy in the region. He is also the National Debt Advisory Lead for Canada.

Tyler has been active in the commercial real estate industry since 2001, and spent the majority of his career in both real estate and commercial finance with major financial institutions.

Tyler joined Colliers’ Leadership Team in May 2018 working with advisors and operations staff on the success of their clients’ real estate needs. His priorities include business development, employee engagement, professional development, recruiting, market identity, financial management and performance.

Tyler is an alumnus of Royal Roads University with a Bachelor of Commerce, Camosun College with a Diploma in Business Administration, and UBC Sauder School of Business in Mortgage Brokerage Brokerage and Real Estate Trading Services in British Columbia.

Tyler is a past Board Member of the Downtown Victoria Business Association, Peninsula Minor Hockey Association, the Urban Development Institute, and the Victoria Brain Injury Society.

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