The First Quarter in the Edmonton Capital Region Commercial Real Estate Investment Market Shows Growth in both Volume and Pace
175 transactions were recorded in Q1 2016 equalling $607 Million worth of sales
*Not for wire distribution*
EDMONTON ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the first quarter of 2016 commercial real estate investment market results for the Edmonton Capital Region which spans Parkland, Sturgeon, Strathcona and Leduc counties. In total, 175 transactions over $500,000 were recorded in Q1 2016 by Altus Group.
Thirteen transactions in excess of $10 million were recorded in Q1 2016, slightly off the three year average of 15 transactions per quarter, but an improvement over Q3 and Q4 2015 which recorded 8 and 9 deals per quarter, respectively. Of all investment in the first quarter, 40% was derived from the $10,000,000 plus market. ICI Land and Retail each posted 4 transactions; Industrial and Residential Land, 2 transactions each; and Apartment, 1 transaction.
Land markets (Residential and ICI combined) contributed 44% toward the market whole. The Retail and Industrial sectors each accounted for about one-fifth of sales volumes.
Transaction counts improved by +33% from the previous quarter to 175 transactions total. Q1 2016 represents the highest deal count since Q1 2015 (206), and -9% off the three year average (192).
“The first quarter of the year is highlighted by an increase of transactions, both overall as well as in the higher price thresholds. Although the metrics remain below the most recent high point in 2014, some resiliency remains as the market toughs out a challenging cycle,” noted Paul Richter, Director, Commercial Research at Altus Group.
These results were previously released under the REALNET® Canada name, whose independent and comprehensive data, analyses and insights on the commercial real estate investment and residential development markets is collected and compiled using a nationally consistent research process established in 1995. Going forward they will be released by Altus Group, powered by a proprietary data platform led by Altus Data Solutions Canada. This team is the formal unification of leading Canadian real estate data companies previously acquired by Altus Group, including REALNET® Canada.
About Altus Data Solutions
Altus Data Solutions connects the Canadian real estate industry through the provision of data with unparalleled breadth, integrity and relevance, delivered through a proprietary technology platform with integrated analytics. This unified data solution, combined with trusted industry expertise, empowers our clients to make faster, more informed decisions in a competitive and dynamic real estate industry.
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 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 securities are traded on the TSX under the symbols AIF and AIF.DB.A.