Market Insights

From Reuters – Canada’s Sun Life Financial (SLF.TO), opens new tab said on Thursday it sees long-term opportunities to buy assets from the troubled U.S. commercial property sector, despite the value of its own office properties in the region falling 26%.

From RENX.ca – First Capital REIT (FCR-UN-T) says it has agreements to dispose of an additional $116 million of properties, including interests in two Greater Toronto Area development sites, an office building and a Greater Vancouver apartment property.

From Altus Group – In a dynamic and evolving market that faces regular environmental, economic, and political disruption, identifying and addressing cost escalation challenges proactively is crucial to the success of any development project.

From Altus Group – Across Canada, we are seeing rapid reductions (potentially up to 5%) in both high and low-rise residential construction costs, with much larger reductions anticipated in Toronto, followed by Montreal and Vancouver.

From Altus Group – The increase in cap rates is reflective of fewer transactions in Canada, which dropped by almost 50% compared to 2022.

From Storeys – With new provincially-passed legislation as a driving force behind it, these neighbourhoods are in store for a drastic transformation in the not-too-distant future.