Business
Sales of multi-suite residential rental properties sustained record pace in second quarter of 2019: Morguard
Sales of multi-suite residential rental properties sustained record pace in second quarter...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nSales of multi-suite residential rental properties sustained record pace in second quarter of 2019: Morguard\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Sept. 5, 2019\n\n\n\nSector's strong historical performance record supported investor confidence despite economic headwinds\nMorguard Canadian Economic Outlook & Market FundamentalsSecond Quarter Update 2019\n MISSISSAUGA, ON, Sept. 5, 2019 /CNW/ - The strong pace of Canadian commercial investment property sales and record-high levels in the multi-suite residential sector defined the second quarter of 2019, according to the latest Canadian Economic Outlook and Market Fundamentals Report issued by Morguard Corporation (\"Morguard\") (TSX: MRC). \nThe pace of commercial investment property sales picked up at the end of the second quarter, indicating strong closing volumes for the three-month period on a quarter-over-quarter comparison. The multi-suite residential rental sector was again the strongest contributor to the record transaction activity during this period. \n\"Investor confidence in property sectors with strong historical performance, apartments in particular, has been demonstrated recently with sales activity remaining at the record high despite growing economic uncertainty,\" said Keith Reading, Director of Research at Morguard. \"Investors are looking for safer investments as they become more cautious and question where Canada and the United States are situated in their respective economic cycles.\" \nIn the multi-suite residential rental market, investors looked to increase their exposure to sectors that had performed relatively well during times of economic weakness. Investment in the sector surpassed the $2.0 billion mark. \nIn the office leasing space, the overall health of the Canadian market was sustained through to the end of the second quarter. Technology-based businesses and shared workspace companies remained at the forefront of Canada's office space demand cycle and the challenge of finding available properties sharpened the focus on fewer hig...