Canadian commercial real estate investment rises to $16.2 Billion
23-Sep-2026.
Canadian commercial real estate investment reached $16.2 billion in Q2 2026, a 29.6 per cent increase from the previous quarter and a 51.6 per cent increase from a year earlier, according to CBRE’s Q2 2026 Canada Investment Overview.
The quarterly total was the highest since early 2022, as transaction activity increased and major M&A activity boosted overall investment volumes.
In addition to stronger single-asset and portfolio investment activity, the report noted that second quarter volumes were further supported by the completion of Welltower’s acquisition of Amica Senior Lifestyles. The number of transactions also increased by 4.8 per cent quarter-over-quarter to 2,146 deals in Q2 2026, marking the second highest quarterly deal count of the last two years.
“Despite some of the negative headlines, the momentum is real and investors believe in Canada,” said CBRE Canadian Capital Markets president Peter Senst. “Q2 2026 was a defining quarter for Canadian commercial real estate investment with strong transaction activity in many cities and across asset classes. We are on a trajectory that could make 2026 a record year for Canadian commercial real estate investment. Global investors are increasingly viewing Canada as a market of safety and stability, and the capital flows back that up.”
Multifamily remained the most active investment asset class in the second quarter, with volumes totaling $6.5 billion. According to the report, Welltower’s Amica acquisition accounted for nearly half of the quarter’s volumes. Industrial continued to attract significant capital investment, with $4.2 billion in volumes in Q2, well surpassing the trailing three-year quarterly average pace. The largest single-asset transaction of the quarter was Pontegadea’s $326.0-million purchase of an Amazon fulfilment centre in Cambridge, Ontario.
Retail activity grew to $2.1 billion, Industrial, Commercial and Institutional (ICI) land rose to $1.8 billion, and office volumes moderated slightly to $1.5 billion in Q2 2026. Investment for all three asset classes also came in above the respective three-year trailing quarterly averages.
Foreign investors accounted for the highest level of quarterly investment activity since Q1 2023, making up 43.9 per cent of acquisitions, which the report noted was largely driven by Welltower’s Amica acquisition. Private Canadian investors were the second largest purchaser group in the second quarter, accounting for slightly over one-third of acquisitions.
