British Columbia Multi-Family Investment Report (Fall 2021)
Unprecedented demand for BC multi-family assets in the first six months of 2021 led to an astonishing 78 sales valued at more than $1.9B – obliterating the previous annual record of 85 sales valued at $1.51B set in 2018. The previous multi-family sales record for a half-year period was 54 sales valued at $1.04B achieved in the back half of 2015. There is no historical comparison for the deal and dollar volume generated by investors’ appetite for BC multi-family assets in the first half of 2021. Sales of multi-family assets in just the first half of 2021 almost surpassed the entire annual BC investment total for all industrial, retail and office assets sold in 2014 ($1.95B). (Avison Young only tracks multi-family sales trading at more than $5M).