By Altus Group | May 26, 2017

Edmonton Commercial Real Estate Investment Reaches Highest Level Since Fourth Quarter of 2014

Q1 2017 registered 170 transactions, in excess of $500k, for a total investment value of $875 million

EDMONTON ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the Edmonton market area’s commercial real estate investment results for Q1 2017. Investment property sales totaled $875 million, a 35% increase from the previous quarter and a 52% increase from Q1 2016.

Graph showing Edmonton property transaction dollar volume and number of transactions for all sectors by quarter.

Source:  Altus Group

Retail saw 27 transactions in Q1 totalling $124 million, down 20% from last quarter. There were 27 Industrial transactions worth $74 million (a 71% drop from Q4 2016).

The overall quarter-to-quarter improvement was largely driven by the Office and Apartment sectors. Q1 2017 saw 23 Office transactions worth $108 million, more than double the volume in Q4 2016. Several notable Office transactions include:

Table showing the top 5 office transactions in Edmonton in Q1 2017.

The Apartment sector was boosted by one large transaction, the Edgewater Towers which sold for $191 million in January. Overall, Apartment investment reached $338 million in Q1 2017, up from only $47 million in Q4 2016.

Table showing the top 5 apartment transactions in Edmonton in Q1 2017.

Residential Land saw an 11% increase in transaction value from Q4 but was down 62% from a year ago. The ICI Land sector had 56 transactions totalling $182 million almost double the level in Q4 2016 and a 31% increase from the same quarter last year.

Pie chart showing Edmonton Q1 2017 Property Transactions, total dollar volume by sector.

Source:  Altus Group

“Investment property sales in the Edmonton market area have shown year-over-year improvements in each of the past three quarters, with Q1 2017 as the strongest first quarter since 2013,” noted Paul Richter, Director, Data Solutions, Altus Group. “This is a hopeful sign that a sustained recovery is now underway.”

 

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ABOUT DATA SOLUTIONS

Data Solutions connects the Canadian real estate industry through the delivery of data with unparalleled breadth, integrity and relevance.  We cover new homes, investment transactions and commercial market inventory in key markets, and also provide intelligence on the national housing market and consumer home buying and borrowing patterns.

Our solutions are used by real estate industry stakeholders to gain market intelligence, identify and validate opportunities, benchmark, strategically plan, manage risk and more.

Data Solutions is part of Altus Analytics, the software and data solutions business of Altus Group, where our focus is to empower real estate clients and partners to work collaboratively to enhance decision making, drive performance and optimize transactional efficiency. Our solutions enable firms to better organize and manage data and connect with the right information and analytics to help them gain a complete picture of real estate assets, portfolios and transactions.

For more information on Data Solutions, please visit altusgroup.com/datasolutions.

ABOUT ALTUS GROUP LIMITED

Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our shares are traded on the TSX under the symbol AIF.

For more information on Altus Group, please visit: www.altusgroup.com.

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Elizabeth Lambe
Manager, Communications
Altus Group
(416) 641 – 9787
elizabeth.lambe@altusgroup.com

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