Residential Development Site Transactions Continue to Boost Vancouver Commercial Real Estate Investment

Q2 2017 saw a total of 550 investment property sales transactions over $1 million, representing a total investment value of $3.4 billion

VANCOUVER ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the results for the second quarter of 2017 commercial real estate investment in the Vancouver market area. While overall investment volumes of $3.4 billion were relatively flat when compared to the previous quarter, the first half of 2017 in total equalled the record of $6.9 billion set in the first half of 2016.

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

Source:  Altus Group 

Land transactions (Residential and ICI combined) accounted for 54% of the overall capital flows in Q2, just short of the average over the past ten quarters of 59%.

 

Source:  Altus Group 

The top ten transactions of the quarter totalled $908 million, including six transactions in excess of $50 million, and three transactions in excess of $100 million.

The top three transactions were:

  • Metrotower I & II, Burnaby, $274.4 million; a 616,000 square foot Office complex
  • Dawson Street & Willingdon Avenue, Burnaby, $152 million; a Brentwood area, 8.128 acre, high-density, Residential Land development site
  • McKeen Avenue & Senator Road, North Vancouver; $115 million; a 27.528 acre ICI Land development site

The Burnaby ($152M) and North Vancouver ($115M) land transactions included holding income from the existing Industrial uses.

“While many are skeptical about the ability of these investment levels to continue, we still see transactions at all price points recorded, including the trading of exceptionally high valued assets. Land markets continue to be the primary contributors to total sales volumes, but all the major asset classes are recording impressive transaction volumes,” noted Paul Richter, Director, Data Solutions, Altus Group.

 

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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 www.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 market 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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