Canada office capital markets

Altus Insights Podcast Series

Date: August 15, 2023

Name of podcast: Altus Insights Podcast Series

Episode title and number: Canada office capital markets

Brief summary of episode: In this episode, Jaysen Smalley, Vice Chairman at CBRE Investment Capital Markets in Toronto, joins Ray and Marlon to discuss the evolving dynamics of Canada’s office sector in a post-COVID world.

Panelists in this episode:

· Jaysen Smalley is the Vice Chairman at CBRE Investment Capital Markets in Toronto. Jaysen has over 20 years of experience working for CBRE and has worked on over $50 billion in real estate transactions in all asset classes across Canada. Jaysen currently leads the Office Sector for Toronto’s National Investment Team, prior to joining CBRE, he worked in the investment banking industry with both private and public companies executing corporate divestitures, and equity and debt financings.

· Raymond Wong 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.

· Marlon Bray is the head of Altus Group's Ontario pre-construction and contract administration services as part of the Cost and Project Management team. With over 25 years of experience, specializing in budgeting, value optimization, and providing visibility on risk through the entire lifecycle from early due diligence to completion. Marlon oversees a team that leads the way with cutting-edge estimating technology and data analytics, bringing a greater level of transparency, and added value to all projects he is involved with.

Key topics:

01:58 – Perspectives on office investment demand: Are we seeing significant market discounts on these assets?

06:15 – Is the pace of core office sales in Canada going to keep up the pace?

09:38 – How will conversion play out in the office market?

11:57 – How are office conversions impacting sales?

15:54 – Are there significant increases in credit defaults with office assets on the horizon?

23:25 – Predictions for office demand over the next 4-5 years

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