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.