According to data from property research firms Canadian investment in U.S. commercial real estate is on track to hit record level this year. As Canadian pension funds and developers seek alternatives to a consolidated domestic market, they have been raising their investment in foreign real estate, especially in the United States. $8 billion has been already poured into U.S. commercial real estate in the first three quarters of 2014. The data from New York City-based Real Capital shows that Canada has been the biggest foreign buyer of U.S. commercial property for the past four years.
Excerpts from the Article:Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada’s second-largest pension fund closes a $2.25 billion deal to buy a landmark Manhattan property, according to data from property research firms. Canadian pension funds and developers have been raising their investment in foreign real estate this year, primarily in the United States, as they seek alternatives to a consolidated domestic market.
Citation and link:
Lampert, Allison. “Canadians snap U.S. commercial real estate at record pace.” Reuters News., 18 Nov. 2014 Web. 03 Dec. 2014.