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Foreign Investment in Canadian Commercial Real Estate Slides 70%

  • Lack of core, sizeable assets for sale in Canada, Altus says
  • Apartment purchases increase while retail transactions decline
Aerial Views Of Canada's Most Densely Populated City As Investors Lift Canadian Commercial Real Estate To Record Quarter
Photographer: James MacDonald/Bloomberg

Foreign investment in Canadian commercial real estate dropped 70% in the first half of the year amid a scarcity of large portfolios for sale, data from Altus Group Ltd. show.

Transactions totaled C$1.5 billion ($1.1 billion), down from C$5 billion in the first six months of 2018, when Blackstone Group Inc. and Ivanhoe Cambridge Inc. bought a Canadian industrial landlord for about C$3.8 billion, Altus said.