{"id":18115,"date":"2021-06-29T10:10:00","date_gmt":"2021-06-29T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=18115"},"modified":"2021-06-23T11:42:09","modified_gmt":"2021-06-23T18:42:09","slug":"multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/","title":{"rendered":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1"},"content":{"rendered":"<p style=\"text-align: justify;\">Metro Vancouver commercial real estate sales through 2021\u2019s first three months hit $2.7 billion, the highest level since 2018\u2019s fourth quarter, reports the Altus Group.<\/p>\n<p style=\"text-align: justify;\">The pace was led by a record total for apartment rental properties, but it was the $103 million sale of the former Mountain Equipment Co-op (MEC) head office that marked the high-water price for a single building.<\/p>\n<p style=\"text-align: justify;\">According to Altus Group\u2019s Investment Trends Survey for Q1 2021, Metro Vancouver remained the No. 1 investor-preferred market in Canada, ahead of Greater Toronto.<\/p>\n<p style=\"text-align: justify;\">A record total of $738 million was invested in rental apartment assets in Q1 2021. That represents a 73% increase from Q1 2020 and is the highest performing quarter of multi-family investment in the Vancouver market area since Altus Group started tracking transaction data in 1999.<\/p>\n<p style=\"text-align: justify;\">Approximately 40% of this overall number can be attributed to a single portfolio transaction, a total of 614 units across 15 buildings, which sold for a reported $292.5 million.<\/p>\n<p style=\"text-align: justify;\">The portfolio was acquired by an InterRent Real Estate Investment Trust and Crestpoint Investments joint venture.<\/p>\n<p style=\"text-align: justify;\">The MEC sale was Q1 2021\u2019s largest Vancouver office transaction and accounted for 43% of first-quarter office property sales. The vacant 120,000-square-foot building is located at 1077 Great Northern Way in Vancouver\u2019s False Creek Flats. It was bought by a joint venture between Low Tide Properties and PCI Group through a share sale transaction.<\/p>\n<p style=\"text-align: justify;\">The industrial sector also continued its momentum into Q1 2021, as investors and owner\/users contributed a total of $649 million, representing a 12% increase from Q1 2020.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2021\/06\/metros-q1-commercial-real-estate-sales-hit-27-billion\" target=\"_blank\" rel=\"noopener\">Metro&#8217;s Q1 Commercial Real Estate Sales Hit $2.7 Billion<\/a> by Western Investor | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Vancouver commercial real estate sales through 2021\u2019s first three months hit $2.7 billion, the highest level since 2018\u2019s fourth quarter, reports the Altus Group. The pace was led by &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-18115","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Metro Vancouver commercial real estate sales through 2021\u2019s first three months hit $2.7 billion, the highest level since 2018\u2019s fourth quarter, reports the Altus Group. The pace was led by &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1\",\"datePublished\":\"2021-06-29T17:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/\"},\"wordCount\":266,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/\",\"name\":\"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2021-06-29T17:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2021\\\/06\\\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/","twitter_card":"summary_large_image","twitter_title":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Metro Vancouver commercial real estate sales through 2021\u2019s first three months hit $2.7 billion, the highest level since 2018\u2019s fourth quarter, reports the Altus Group. The pace was led by &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1","datePublished":"2021-06-29T17:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/"},"wordCount":266,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/","url":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/","name":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1 &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2021-06-29T17:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2021\/06\/multi-family-apartment-rental-buildings-commercial-sales-led-the-pace-in-q1\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Multi-Family Apartment Rental Buildings Commercial Sales Led The Pace in Q1"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/18115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=18115"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/18115\/revisions"}],"predecessor-version":[{"id":18116,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/18115\/revisions\/18116"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=18115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=18115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=18115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}