Welcome to the CRE podcast, 100% Canadian, 100% commercial real estate. Canada’s multifamily real estate sector is navigating a challenging market shaped by rising interest rates, shifting immigration policies, and record levels of new housing supply. But could today’s correction create the foundations for the next upturn?
In this episode of the Commercial Real Estate Podcast, powered by First National, hosts Aaron Cameron and Adam Powadiuk sit down with Mark Rothschild, Managing Director of Research at Canaccord Genuity, to explore REIT valuations, capital allocation strategies, and the outlook for key asset classes. They discuss why senior housing and grocery-anchored retail are outperforming, the ongoing challenges facing office and apartment REITs, and how management teams are adapting to higher borrowing costs. The conversation offers valuable insights into market trends, investment opportunities, and what could trigger the next real estate recovery.
What You Will Learn:
- Why rising bond yields are putting immediate upward pressure on cap rates
- How REIT privatizations are each driven by unique factors
- Why diversified REITs rarely succeed in Canada
- The reason high-quality trophy office buildings remain locked up by pension funds and out of reach for public REITs
- How seniors housing has emerged as the standout asset class
- Why grocery-anchored retail keeps outperforming despite economic headwinds
- The risks still facing apartment REITs
- How REIT management teams are shifting from growth-at-all-costs to disciplined capital allocation
Mark Rothschild is the Managing Director of Research at Canaccord Genuity, recognized for his deep expertise in Canadian real estate investment trusts (REITs) and commercial property market analysis. With decades of experience covering the REIT sector, Rothschild has developed a comprehensive understanding of how macroeconomic factors, particularly interest rate movements, impact real estate valuations and investment strategies.
Episode Reference:
- Mark Rothschild on LinkedIn
- Canaccord Genuity Website
- Adam Powadiuk on LinkedIn
- Aaron Cameron on LinkedIn
- Commercial Real Estate Podcast on Apple Podcasts
- Commercial Real Estate Podcast on Spotify
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