Investments

Total commercial sales reached $2,595,875,102 for the first quarter of 2021, all asset classes combined, while 551 transactions exceeding a million dollars were recorded. Unsurprisingly, sales in the first quarter were largely dominated by the multi-residential sector ($992,938,781, or 323 transactions and 38.3% of the total sales volume) and by the industrial sector ($873,376,471, or 89 sales and 33.6% of the total volume).

Only 23 transactions can be associated to office building sales in the first quarter, which represents a mere 4.2% of sale transactions. The office investment volumes in the first quarter reached $243,105,000, which equates to 9.4% of the commercial investment volume for the three first months of 2021. However, of that total, $172,400,000 resulted from the non-arm’s length sale transaction of Maison Alcan, on Sherbrooke Street West between Stanley and Drummond.