Michael Betsalel is the Senior Vice President of JLL and is here to talk about apartment brokerage in the Greater Toronto Area. He has been a multi-family specialist on the brokerage side for thirteen years, beginning immediately after he graduated MBA school in 2005. Since then he has risen to become one of the preeminent apartment brokers in his market.
Michael provides insight on the multi-family market in Toronto and the changes he has seen over his career. He talks about the rapid increase in valuations, new construction and how the market is being dominated by institutions.
Topics covered include:
- Cap rates becoming irrelevant.
- Blackstone entering Canada.
- Starlight’s incredibly active year in transactions.
- How clients are improving and stabilizing assets.
- How Michael goes about sourcing deals.
- Private investors getting sidelined by the institutions.
- Overcoming the need for cash in the current investing market.
- Buyer profiles, changes in offers over the past few years and buyer fatigue.
- Being transparent in the selling process to make it simple.
- The process of off-market transactions.
- The unique qualities of the Canadian market that foreign buyers don’t expect.
- Repercussions of financing being more expensive.
- New buildings in Toronto and rent control.
- Where Michael would invest today.
A bit about our guest…
Michael Betsalel specializes in helping institutions, REITs and private investors to acquire and dispose of multi-family real estate investments. Michael accelerates his clients’ success by sharing market insight to create knowledge driven solutions. He has an unfettered dedication to achieving high results for his clients. His strong financial acumen and communication skills have helped Michael become the clear choice for selling multi-family assets in the GTA and throughout Eastern Canada. Michael has built a unique network of local, national and international investors, enabling him to provide his clients with geographic investment flexibility. Michael has been involved in the sale of more than $800 million in commercial real estate transactions, and continues to set new value benchmarks.
Michael Betsalel LinkedIn.
Wendy Waters apartment episode of the CRE Podcast.