Altus Group Limited (“Altus” or “the Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released the findings from its Q4 2023 CRE Industry Conditions & Sentiment Survey, a quarterly survey that collects insights on current market conditions and future expectations. The latest survey draws on feedback from nearly 500 senior CRE professionals representing over 100 firms in the U.S. and Canada from October 13 to November 1, 2023.

The Q4 2023 CRE Industry Conditions & Sentiment Survey highlights the participants’ perspectives on:

  • Recession and capital considerations: cost of capital expected to stabilize, though availability of capital remains challenged in the near-term amidst expectations of a shallow recessionary macro backdrop and a challenging operating environment.
  • Transaction intentions over the next six months: after a prolonged period of muted transaction activity, the majority of respondents indicated an intent to transact in the coming six months, with intentions varying significantly by firm size.
  • Property performance and targeted returns: ranked expectations for property performance over the next 12 months show industrial and multifamily as the most favored types across North America. Target returns, measured by gross internal rates of return, remain in the low-double digit range (11.9% in the U.S., 11.6% in Canada), but vary significantly by property type.
  • Priorities issues: financing, cost of capital and cost concerns top the list for the next year, though regulatory and political risk emerge as higher priority items particularly in the U.S.

To download the full reports by country, please use the following links:

  • US Q4 2023 CRE Industry Conditions & Sentiment Survey
  • Canada Q4 2023 CRE Industry Conditions & Sentiment Survey

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 3,000 employees across North America, EMEA and Asia Pacific. For more information about Altus Group (TSX: AIF) please visit altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Elizabeth LambeDirector, Global Communications, Altus Group(416) 641-9787Elizabeth.Lambe@altusgroup.com 

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