Ep. 002 David Wallach: Calgary Real Estate Market | Podcasts

Today we talk with David Wallach of Barclay Street Real Estate in Calgary, Canada. David gives an overview of the Calgary real estate market as well as discussion on cap rates, asset classes, and his forecast on where he sees the Calgary market going in the next 12 months.

David also discusses his firm's partnership with TCN Worldwide and how that partnership has helped Barclay Street expand their reach to service their customers on a local and international level through a network of over 1500 commercial real estate firms.

Key Discussion Points

[00:18] Welcome and introduction by Eric Odum

[00:36] Overview of what's going on in the Calgary real estate market

[02:39] What asset classes does Barclay Street Real Estate focus on?

[03:18] Tell us about where cap rates and asset classes are headed in Calgary

[05:01] Is financing primarily coming from banks, insurance companies in the market, or financial institutions?

[06:25] Can you give us another couple of points about your market that make it unique

[07:09] What are you forecasting 12 months out in your market

[09:13] Tell us about your fund and what bogies you're looking for in terms of placing assets in that fund

[10:59] Tell us why you joined the TCN Worldwide network and what it's doing for your firm

[15:48] Closing remarks by Eric Odum

David Wallach, CCIM
President & Broker, Barclay Street Real Estate/TCN Worldwide
www.barclaystreet.com

“We genuinely care about our clients and want them to be happy with their real estate decisions. We do not question going the extra mile for our clients as our relationships go deeper than “just a deal”. I believe that is a key contributor in the growth we have experienced in the last few years and has helped Barclay Street build a strong reputation in the industry and community. Our roots go deep into the Alberta market and we are here to service the Calgary and Edmonton markets with a level of local expertise that is second to none.”

David’s career started over 30 years ago in Israel where he owned a successful insurance brokerage company and was President and GM of his favorite professional basketball team. However, David saw bigger opportunities in his future when he, his wife and three children immigrated to Canada in 1999.

In 2000, David joined Torode Real Estate and began his career in Canadian commercial real estate. He was later invited to join a group of senior negotiators who bought Torode real estate brokerage in 2001. In 2003, David assumed the leadership role of President, and in 2004 the brokerage was rebranded under the name Barclay Street Real Estate.

In a few short years, David has made strides in growing Barclay Street locally and internationally. In 2007, David added Property Management to Barclay Street’s portfolio of services and the division has grown dramatically in the last few years with properties throughout Alberta, managing today over 4.5 million Sq. Ft.

To expand Barclay’s national and global reach, David formed a partnership in 2011 with TCN Worldwide, a real estate services organization that serves more than 200 markets globally. As a member of TCN Worldwide, Barclay Street has the ability to service their customers on a local and international level through a network of over 1500 commercial real estate firms. Since 2012, David brings his commercial real estate knowledge to the international stage as a board member on the TCN Worldwide Board.

In April 2013, David received his CCIM - Certified Commercial Investment Member designation.

In June 2014, David launched a new venture, Triumph Real Estate Investment Fund. A private REIT focused on acquiring revenue producing properties in defined markets both in Canada and the U.S.A. David is founder and director and is responsible for all real estate matters of the Fund as well as involved in raising funds for Triumph.

Since early 2016, David has co-chaired the Calgary Economic Development Real Estate Advisory Committee.

With family-centric ideals, David ensures Barclay Street employees and clients feel like they are dealing with family, not just coworkers or a commercial real estate broker.

TCN Worldwide, a consortium of leading independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. Representing more than 200 markets collectively worldwide, TCN Worldwide member firms are leaders in their respective marketplace and serve as the foundation for our organization’s success.