Investment activity is roaring back to life in Canada. With an impressive CAD$10.1 billion in sales volume, Q3 delivered one of the strongest totals on record. However, unlike past CAD$10 billion-plus sales quarters, volume wasn’t driven by entity-level deals or massive portfolios.
Key Canadian Takeaways:
- Multifamily was the top investment target in Q3, racking up nearly CAD$3.5 billion in sales.
- Third quarter office sales accelerated on the back of one major transaction: The Bow in Calgary, Alberta.
- Investors’ insatiable demand for industrial product continued in Q3, with sales volumes hitting CAD$3.2 billion.
- While retail transactions remain heavily driven by grocery-anchored properties, unanchored centres are beginning to trade more frequently.
- Investor sentiment for the lodging asset class continues to improve, as transaction volume for Q3 reached nearly CAD$1.1 billion.
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