Record For Investment
RealNet Canada reports a new record-high dollar volume in the investment market for 2013. Overall, there were a total of 1,823 transactions in excess of $1M, resulting in a record annual dollar volume of $13.4B in the GTA. (We're gonna need a bigger bank.) RealNet’s Richard Vilner tells us that number represents a 4% gain over the previous record annual dollar volume reached in 2012.
RealNet says the GTA property markets, across all sectors, are responding to a unique set of forces coming from capital market conditions and intensification policies. 90% of overall investments (in dollar volume) made by Canadian REITs throughout the GTA in 2013 were invested in the first six months of the year. Driving the bus were new three-month quarterly highs reached in the office, industrial, and retail sectors ($1.4B, $1B, and $1.3B respectively) and two major portfolio sales—GE Capital ($1.03B) in May and Primaris REIT ($565M) in April. Above is 2 St Clair Ave, part of that portfolio.