RCA Insights

Putting Canada’s Flow to US in Perspective: Chart

By on March 18th, 2019

Wyatt Avery provided data analysis for this article.

Cross-border acquisition activity in the U.S. hit a near-record level in 2018, largely thanks to a surge in transactions by investors headquartered in Canada. Just how big that surge was in comparison to recent history and to other leading sources of capital is shown in the chart below.

Deal volume from Canadian investors was clearly above trend in 2018 and entity-level transactions from the likes of Brookfield AM, the CPP Investment Board, OMERS, Granite REIT and CDPQ drove this inflow.

Canada was the #1 source of capital into the U.S. for five of the last six years, with China taking the top spot in 2016. China’s flow of capital has been crimped since because of regulations at home, and acquisitions by investors headquartered in China fell to a four-year low in 2018.

1903 Canada in Perspective COTW FINAL

This data first appeared in the US Cross-Border Compendium, published on Feb. 20. If you are a current RCA subscriber log into your account to download the report and data file from the RCA website. To get more information about becoming an RCA client, contact us

Jim Costello

Jim Costello

Senior Vice President
jcostello@rcanalytics.com

Jim Costello has worked in the CRE space on issues of urban economics since 1990, including a 20-year stint at Torto Wheaton Research. Jim expanded the reach of the Torto Wheaton Research team developing forecasts of global market fundamentals. He also developed approaches to pair the forecast results with frameworks to answer investor questions on asset values and relative investment opportunities.

In the aftermath of the Global Financial Crisis, Jim provided advice to the Treasury Department and helped educate these professionals on commercial real estate performance. Jim is a member of the Commercial Board of Governors of the Mortgage Bankers Administration, where he helps policy makers understand the commercial real estate industry.

Jim is expanding the capabilities of the Real Capital Analytics team on issues of real estate market dynamics. Jim has a master’s degree in economics and is a member of the Counselors of Real Estate.