2021 Year End Biggest Deals with Ray Wong of Altus Group
Bringing us his data and insight once again today is Ray Wong. He is Vice President of Data Operations and Data Solutions with Altus Group. This time, we’ll be talking about the last few transactions of 2021 and what this year has looked like.
Ray dives into the sustained drop in office deals, and explains why retail has been doing comparatively better. He takes us through some transactions from across the country and tells us if we can expect some COVID trends to undo themselves.
Topics covered include:
- Beating investment volume in 2019.
- The continued impact from the pandemic on office space.
- Flat cap rates seen this year.
- The possibility of overpaying for an asset in today’s market.
- Expected growth of immigration and how it plays into Canadian real estate.
- How people buy in brick-and-mortar stores versus online.
- Why there aren’t big swings in cap rates and what that means for investment activity.
- The Steeles Technology Campus transaction in North York.
- This biggest real estate transaction of the year in Canada.
- Seeing plays that are good for both the seller and the buyer.
- A huge profit from land in Milton that the seller had bought in 2015.
- An open-air mall deal in Montreal and its planned redevelopment.
- Will we see a reversal of the pandemic trend of moving away from cities?
More about our guest…
Ray is the Vice President of Data Operations for Altus Group’s Data Solutions team. Overseeing 60+ researchers across Canada, Ray’s primary responsibility is to ensure data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events.
Prior to joining Altus Group, Ray was the Head of Research for CBRE Canada. He was responsible for the collection of market intelligence and publishing marketing market reports on a regular basis. Ray interacted with both internal and external clients in respect to presenting and discussing real estate information, trends and analysis. He initiated and introduced the CBRE Econometric Real Estate Forecasting model in Canada for office and industrial real estate.
Ray is regularly asked to comment on the real estate market in various print, radio and online news publications.
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