Back for his third appearance on the show is Michael Betsalel. He is Executive Vice President, Capital Markets, Multifamily with JLL. Formerly focusing on Ontario, Michael now has a large team spread across Canada. This makes himt he perfect guest share teh view of the apartment market at a national level.

After giving an overview of Canadian apartments as a whole, Michael gets into specific markets. We hear about what has been driving investment in Southwestern Ontario, why the Prairies could begin seeing more institutional investment, and how markets will be affected by Ukrainian refugees settling in Canada.

Topics covered include:

• Gaps in rent caused by rent control.
  
• Why average price per suite numbers are becoming less meaningful.
  
• Toronto’s passing of Vancouver last year when it comes to average cap rate.
  
• A rundown of how busy multifamily was in Canada in 2021.
  
• Which areas have the lowest and highest vacancy rates.
  
• Multifamily deals in Toronto nearly reaching 2019 levels in 2021.
  
• Buyers of purpose-built rentals in Toronto.
  
• Numbers showing that the Southwestern Ontario market has been on fire.
  
• New development occurring in Ottawa.
  
• Big deals that have recently happened in Quebec.
  
• The most prominent transaction that happened in Vancouver last year.
  
• Why Michael thinks current cap rates are the new normal and little affected by interest rates.
  
• The popularity of low rise, wood frame deals in Alberta.
  
• Cap rates seen in Manitoba and Saskatchewan, and why Michael thinks we may start seeing more activity there.
  
• The large Ukrainian population in Calgary and Edmonton.
  
• Michael’s outlook for the rest of 2022.
  

A bit about our guest…

Michael is the Practice Lead for JLL’s Multifamily Ontario Team and leads JLL’s Canadian National Multifamily Group.

Michael specializes in helping institutions, REITs, Asset Managers and private investors to acquire and dispose of multi-family real estate investments across Canada. 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 throughout 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 approximately 300 multifamily properties valued at over $5.0 billion. Prior to the completion of his Schulich School of Business Masters Degree, Michael spent five years in Management with a Fortune 500 organization.

The CRE Podcast is powered by First National.

In partnership with Canadian Real Estate Forums.

Join the REF Club and get access to all of the amazing events the CRE Podcast is hosting on the platform.

The post Apartment Brokerage Across Canada with Michael Betsalel of JLL appeared first on Commercial Real Estate Podcast.