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Edmonton Total Commercial Real Estate Investment Down Despite Apartment Upswing

The second quarter of 2016 had 164 transactions for a total investment value of $538 million.

EDMONTON ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the second quarter of 2016 commercial real estate investment market results for the Edmonton Capital Region. In total 164 sales transactions, totalling $538 million, were recorded. Sales volumes were down 11% from the previous quarter.

edmonton-q2-2016-property-transactions-volume-by-sector

The top performer in Q2 2016 was the Apartment sector, accounting for almost one-third of total sales volume; 15 transactions totalling $171 million were recorded, an increase of 148% from the first quarter of 2016. “Due to a boost in the number of deals and some high value transactions, the Apartment sector carried the torch for the Edmonton market in the second quarter of 2016,” noted Paul Richter, Director, Altus Data Solutions Canada.

Top apartment transactions for the quarter included:

edmonton-q2-2016-top-apt-transactions

While accounting for only 6.5% of all sales volumes, the Office sector posted some quarter-to-quarter improvement. In total there were 17 office transactions worth $35 million, representing an increase of 35% from Q1 2016. Notable office transactions included:

edmonton-q2-2016-top-office-transactions

The Industrial, Retail and Land sectors all recorded decreased sales volumes from the previous quarter:

  •          Industrial: 31 transactions worth $83 million, a decrease of 28%.
  •          Retail: 27 transactions worth $78 million, a decrease of 40%.
  •          Residential Land: 10 transactions worth $79 million, a decrease of 32%.
  •          ICI Land: 64 transactions worth $92 million, a decrease of 38%.

These results were previously released under the REALNET® Canada name, whose independent and comprehensive data, analyses and insights on the commercial real estate investment and residential development markets is collected and compiled using a nationally consistent research process established in 1995. Going forward they will be released by Altus Group, powered by a proprietary data platform led by Altus Data Solutions Canada. This team is the formal unification of leading Canadian real estate data companies previously acquired by Altus Group, including REALNET® Canada.

About Altus Data Solutions

Altus Data Solutions connects the Canadian real estate industry through the provision of data with unparalleled breadth, integrity and relevance, delivered through a proprietary technology platform with integrated analytics.

This unified data solution, combined with trusted industry expertise, empowers our clients to make faster, more informed decisions in a competitive and dynamic real estate industry.

About Altus Group Limited

Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A.

For more information on Altus Group, please visit: www.altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Paul Richter
Director, Altus Data Solutions
Altus Group
(604) 683-5591 ext. 1697
paul.richter@altusgroup.com