GTA Commercial Real Estate Investments Hit Q1 Record
How the industry surpassed the 2018 record.
1 min read
Commercial real estate investments in the Greater Toronto Area took a turn for the better in Q1, totalling $6.07 billion of assets. After the industry took a hard hit due to the onset of the pandemic, interest started to pick up in the latter half of 2020, continuing through Q1.
Surpassing the previous 2018 record of $5.77 billion, CRE professionals are hopeful that the economy will see an upturn in the coming months. All sectors were up in profits, including residential, industrial, land and hotels, except for the office market.
Ray Wong, vice-president of data operations for Altus Group, stated, “The reason why we see continued activity this year is that investors are implementing and carrying out their core and non-core asset repositioning, with acquisitions or dispositions. “People are a little bit more optimistic and sense that the economy is starting to move in the right direction.”
With normalcy on the horizon, investment activity in the GTA will continue to rise through the second and third quarters of this year.
Learn more about Q1 CRE investments in the Greater Toronto Area.
Reference
McLean, S. (2021, April 21). Record Q1 for CRE investment in Greater Toronto Area [Web log post]. Retrieved May 21, 2021, from https://renx.ca/cre-investment-record-q1-2021-greater-toronto-area/
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