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Highlights of the investment report include:
-The faltering Canadian, US and Global economies have undermined Vancouver’s
commercial real estate performance since October 2008. Further impacting
the market are greatly reduced levels of debt availability combined with
more and more onerous underwriting as well as greatly reduced levels of
institutional equity available for investment. Capitalization rates have
begun to recalibrate as the volume of transactions continues to level off
in 2009.
-The most recent transaction activity, or lack thereof, suggests this trend
may accelerate prior to a widespread recovery.
-However, according to the Bank of Canada, the Canadian economy is forecast
to recover in the latter half of 2009; as such, there may be reason to
be cautiously optimistic regarding the Metro Vancouver commercial real
estate market.
Contact Shawna Rogowski at 604.692.1476 for more information.
  CMNInvReport-Apr09-E-rev.pdf
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