Market Report

Calgary Commercial Real Estate Investment Insights, Q3 2023 (Barclay Street Real Estate, Calgary)

Investors’ interest in the Calgary market remained quite strong through the third quarter of 2023. During the quarter, 85 transactions closed at or above $1 million, for a total of $468.8 million. To September 30th, total dollar volume invested reached $2.56 billion.

While this represents a decrease of approximately $553 million or 18% percent year-over-year, the negative calculation is due entirely to the 2022 sale of The Bow* overinflating last year’s investment numbers. Removing that outlier, we see investment up year-over-year across the board.

Notable contributors to year-to-date investment volume were retail and multi-residential properties which saw total dollar volume increase by 32% and 26%, respectively. Investment in all other assets classes we track posted more muted gains.