It Doesn't Get Bigger Than MIPIM
MIPIM, held last week in Cannes, France, is an annual event that brings together some of the most influential players internationally from all commercial property sectors. (Sadly, they don't get to see any films.) Avison Young CEO Mark Rose sent us this pic from the ground, with him (right) standing next to AY president of US operations Earl Webb and European investment manager Udo Stoeckl. Along with October's Expo Real in Munich, it doesn’t get any bigger than MIPIM, which Mark says in an ideal gathering place for clients. “As Avison Young grows in Europe, there is a benefit of connecting with recruits and M&A prospects in one place.” The event is also billed as a great place to gain access to development projects and sources of capital.
CBRE vice chairman Tony Quattrin attended MIPIM for the sixth time. “The event helps to put various markets and asset classes into context,” he says, vital considering the global nature of the business and the ease with which capital flows internationally. Canada is still prized in terms of investment because of its stability (and its poutine), but Tony adds a caveat: “Cap rate compression, in particular, has made investing here less interesting due to the limited availability of product and lower yields.”