National investment volumes totaled $9.6 billion in Q1 2020. This marked an increase of +26.4% compared to the same period in 2019 but a decline of 35.0% quarter over quarter.
The two most active asset classes in Q1 2020 were the multifamily and industrial sectors which saw acquisitions total $ 2.8 and $2.2 billion, respectively.
Notable transactions from Q1 2020 included the sale of the Quadreal Atlantic Canada Multifamily Portfolio to CAPREIT for $391.0 million, the World Trade Centre office asset in Montreal to Allied REIT for $276.0 million and the 1100-1150 Rene Levesque Blvd W office asset in Montreal to Groupe Petra and Mach for $225.0 million.
The most active purchasers in Q1 2020 were Private Canadian Investors and REIT/REOCs.
These groups accounted for 41.5% and 32.3% of national investment volumes over the first
quarter, respectively. Foreign investment activity was minimal in Q1 2020 with cross border firms only accounting for 8.7% of domestic acquisitions in Canada.