Fewer Big Deals In Q2
Q2's hallmark: the lack of big deals, RealNet Canada research manager Richard Vilner tells us. He notes the three most significant transactions—Mattamy Homes' $55M acquisition of 94 acres in Milton, Lanterra Development's $54M deal for 234 Simcoe St, and a $101M portfolio sale from KingSett Capital to Cominar REIT (13 properties at American Business Park)—represented only $210M of the overall $2.6B total dollar volume in Q2. "Pretty eye popping."
And yet, Richard points out, 2014 has witnessed the best combined Q1/Q2 activity in almost a decade, with $6.9B in transactions in the first six months of the year. Only the first half of 2013 saw a better showing ($7.8B), he says. But it was a "robust" first quarter that drove the first two quarters, says Richard, who tells us he'd like to be hitting the links more than he has so far this summer.