Outlook for Toronto CRE job market
Does anyone have any insights on the commercial real estate job market for potential grads? I'm a sophmore student in Toronto and am looking for some insights (into development, specifically).
Interested in this as well. From talks with some professionals living there, it seems like its a hot market right now. But we also don't know when the next RE downturn will come so who knows.
On the debt side, a debt broker said that the kind of debt that they do is different now than a couple years ago. Couple years ago it was a lot of construction, now its other types of debt product, still lots of work he said, atleast debt wise.
very much a function of who you know so network hard
Bullish. Toronto is growing rapidly, both physically and demographically - I’ve heard some pretty nuts demographic projections. Vacancy and unemployment are low, land supply is restricted and city zoning/DCs make it difficult to build. Residential market is hot as hell, which has and will continue to drive the condo and multi family boom. There’s a strong tech space and a lot of companies moving here that are bolstering a demand for office space. In other words, there are a bunch of opportunities and they’re not expected to disappear too quickly.
From my experiences, Toronto CRE is filled with alumni from local private schools and/or Ivey/Commerce kids, so networking is key as always.
Looking for info on Commercial Real Estate Industry in Toronto (Originally Posted: 04/03/2013)
Hey guys,
I’m relatively new to WSO but have been reading the site for quite a while now. I tried doing a search about CRE in Canada but couldn`t find much. What I want to ask about in this post is for some clarity on the Commercial Real Estate Industry in Canada, specifically Toronto. I was wondering if there are any posters here who have experience or knowledge of CRE in Toronto.
Basically Im just looking for some information on the landscape of the industry with no real specific area in mind. Im interested in hearing about who the top CRE companies are (RE Asset Managers, REPE, REITs, Brokerages, Developers). If anyone has any insight into the top players and generally what is seen as most prestigious and what the barriers of entry are for new Analysts into these companies that would be much appreciated. Also anything about a typical career path at any of these firms.
Im currently an upper year university student with intern experience on the sell side and at a <abbr title="private equity">PE</abbr> shop (neither in RE) but Im very interested in entering CRE. Im not sure into which type of firm Im most interested in but hopefully one that creates the most opportunities going forward. Also any general advice given my current information is welcome.
If anyone has insight into the CRE industry in Toronto/Canada I would really appreciate hearing from you as I'm sure others would too since there is no real discussion on the topic.
Top CRE investors in Canada are definitely going to be those pension funds. Brokers? CBRE, Colliers, and JLL.
This site should give you an idea about the players and industry in general: http://www.dbrs.com/issuer/365
I think Brookfield is a Toronto-based company. Also CPP is probably the most active international institutional RE player right now and I know they have an office there.
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