Montreal Real Estate Forum with Peter Altobelli of Yardi

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In their third time covering the Fall 2020 forums, Aaron and Adam welcome back Peter Altobelli today to discuss the top five takeaways from the Montreal Real Estate Forum. Peter is the Vice President and General Manager of Yardi, a property management software company.

Many of the takeaways apply to most cities in Canada, but Peter explains why Montreal is unique in many respects. These include the low rental rate for industrial buildings and the city’s very vibrant downtown core.

Topics covered include:

  • Peter’s history with Montreal.
  • #5: Proptech hits warp speed as real estate has been slow to introduce significant technological changes, but the impact of coronavirus has made it a necessity.
  • Montreal, just like other Canadian cities, not keeping up with technology.
  • The success of technology companies during COVID-19.
  • #4: Interest rates are not going anywhere for a number of years, at least until 2024.
  • Debt being taken on by countries around the world.
  • #3: There’s a huge amount of development everywhere, including infrastructure projects.
  • Advantages of a new development happening on the West Island.
  • #2: The industrial market continues to accelerate.
  • Low rental rate for industrial property in Montreal compared to other major cities.
  • The kind of tenants using industrial space.
  • #1: COVID-19 has changed the downtown Montreal environment, turning it into a bit of a ghost town.
  • What makes Montreal’s downtown so vibrant during normal times.
  • Why Peter thinks Montreal will bounce back quickly.

More about our guest….

Peter Altobelli is Vice President of Sales and General Manager for Yardi Canada Ltd. Yardi develops industry-leading property and investment management software for all real estate asset classes.

Peter has worked in the technology industry for more than 30 years, with a foundation in software development for the healthcare sector in the 1980s. His first role involved transforming existing software for an outpatient clinic scheduling system and introducing innovative PC technology for what has now become Hamilton Health Sciences.

The CRE Podcast is powered by First National

Episode sponsor is Yardi.

In partnership with Canadian Real Estate Forums.

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