RCA in the commercial property press:

Canadians Look to NYC for Higher Yields

The Real Deal reports: Canadian investors have focused on investing in New York City the past two years, acquiring several trophy assets in large transactions either by themselves or through JVs. Buyers have included pension funds such as CPPIB or OMERS, as well as other smaller firms like RXR Realty and major REITs such as Brookfield.

Dan Fasulo, managing director at Real Capital Analytics, states that many Canadian investors are yield buyers who are interested in a five or six percent return. He goes on to state that these investors are finding the need to diversify as there are only so many large assets in Canadian markets such as Toronto.

Over US$2B in properties have been acquired in New York by Canadian investors so far this year, the highest total since at least 2001.

Articles related to this topic:

 NYC Tops London as Favorite Destination for Commercial Property Investment
 Cross-border Investment in the US Growing
 Blackstone Agrees to Buy Duke Realty's Suburban Office Holdings for $1.08B
 Foreign Investment Rising for US Commercial Real Estate
 CRE Investment in Europe Has Risks and Rewards
 Vornado Refinances 11 Penn Plaza
 Luxury Apartments in Demand in Manhattan

Posted by: Kevin Imboden

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