The National Apartment Group – Toronto
is dedicated to providing a full range of acquisition and
disposition services to multi-residential owners and investors. Clients benefit
from our national and international platform, providing valuation and advisory
services, debt and equity financing, marketing services, and access to our
David Montressor, Executive Vice President and head of
the National Apartment Group, has sold over $2 billion in apartment properties
with NAG-Toronto and provides leading “Best of Class” real estate services for
apartment owners and investors. Through CBRE’s national and
international network, NAG-Toronto connects both private and institutional
investors with owners and operators of multi-residential properties.
Greater Toronto Area is Canada’s largest metropolitan area and boasts the
highest level of international immigration in the nation. With a growing
population of close to six million, and shifting demographics supporting
increases in new renters, apartment properties will continue to remain in
demand. A robust economy and a tight labour market experiencing historically
low unemployment rates continues to draw new renters to the city.
As of year-end 2008, Toronto’s vacancy rate
tightened significantly, dropping to 2.0%. This is down from 3.2% a year
earlier. Strong immigration should further fuel demand for rental properties,
continually increasing rental rates, while keeping vacancy rates at record lows. The average rental rate for a 2 bedroom unit rose by 3.2% in 2008 to $1,095.
Transaction volumes throughout the GTA reached $874 million in 2008, an increase
of 5.0% from 2007.