28
TARGET COUNTRIES FOR INVESTMENT
CANADA 71
% UNITED STATES 57
UNITED KINGDOM 43 GERMANY 29
FRANCE 14 NORDICS 14 CHINA 29
MEXICO 14
BRAZIL 14
AUSTRALIA 14
PRIVATE CAPITAL SUCCEEDS IN MID-MARKET DEALS
A reduction in overall transaction volume illustrates that there is a lack of quality product in the marketplace. With domestic pension funds looking to increase real estate allocations, the competition for prime commercial assets across Canada will remain fierce. Despite this competition for top assets, private capital, fuelled by a long-term low interest rate environment, continues to find opportunity across mid-market levels.
Looking at year-to-date performance, the main groups active in investment have been both public and private capital, often in joint venture agreements with larger pension plans.
A headline deal was Montreal based Cominar Real Estate Investment Trust’s acquisition of a CAN$1.527 billion portfolio of eleven shopping centers, three office buildings and an industrial warehouse throughout Quebec and Ontario from Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec.
Another major portfolio sale was Toronto based private investment group Forgestone Capital Management, operating alongside private Montreal based developer Canderel, joined forces with the Healthcare of Ontario Pension Plan (HOOPP) in a US$267 million joint venture agreement to acquire 27 office buildings throughout Montreal from Liberty Sites.
COLLIERS INTERNATIONAL 2015 GLOBAL INVESTMENT SENTIMENT REPORT
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