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North America Market Snapshot Q4 2021

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North America Market Snapshot _1536x1040

Total investment sales volume in 2021 capped at an impressive CAD$33.5 billion, as assets traded for a total of CAD$9.2 billion during the fourth quarter. A significant portion of Canadian transactions was driven by foreign interest, particularly from U.S. Investors.

Key Canadian Takeaways:

  • Transactional activity among multifamily properties dropped 73% year-over-year (YoY) to CAD$1.7 billion, declining for the first time since Q1 2020.
  • Industrial assets led the charge this quarter with CAD$3.2 billion in sales, up 31% YoY. In the GTA, Blackstone acquired the CAN Industrial Portfolio for roughly CAD$245 million, the largest industrial portfolio sale of the fourth quarter.
  • Cross-border transactions continue to dominate the market, particularly among landmark office properties. Colliers’ Capital Markets Team advised on the acquisition of the Royal Bank Plaza, purchased by Spanish billionaire, Amancio Ortega for CAD$1.2 billion.
  • Annual transaction volume was more than double that of 2020 for Hotel assets, as properties traded for above CAD$1.9 billion in 2021.

North America Market Snapshot_1024x972

North America Market Snapshot Q4 2021

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For More Information, Please Contact:

Lucas Atkins

President, Capital Markets | Canada

Toronto Downtown

Lucas brings over 25 years of experience in real estate, including investment banking, private equity, business development, mergers and acquisitions, development and equity and debt capital raising to Colliers. Over the course of his career, he has been involved in over $50 billion of real estate transactions across a variety of real estate asset classes and has assisted in raising over $50 billion in public, private and joint venture capital, and cross border financing activities.

His expertise in commercial real estate and strong relationships established over many years reinforces Colliers' industry-leading position in Canada. 

Working across business lines and borders, Lucas drives the strategic vision of Colliers’ Capital Markets.

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Leo Lee

Director, National Research Operations | Canada

Toronto Downtown

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 15 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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