Colliers International Group Inc Bats

Canadian firms spent $9B on U.S. commercial real estate in the 12 months ending in June, up from a $5B rolling average at the end of the prior quarter, according to Colliers' Global Capital Flows report. Canadian firms sent 32% of the capital raised for global acquisitions to the U.S. in the year through June, up from 19.3% for the rolling 12 months a quarter earlier. Across all global investments, Canadian firms deployed 32% of capital toward multifamily, 27% to industrial assets and 18% toward offices, with Japan, the UK, Spain and Australia among other top destinations, though their combined $4.9B over the last 12 months through June still trails the total outbound capital to the U.S. alone. The U.S. pulled in $28.3B in the most recent period available in Colliers data, leading the UK by $3.4B by June after the UK squeaked past the U.S. three months earlier by just $25M. Adam Jacobs, head of Canada research at Colliers, said he does not expect the escalating tit-for-tat tariffs to have much impact on investment decisions, and noted the U.S. remains a deep and diversified market. The data does not cover the last couple of months, as the trade war between the United States and Canada ramped up with new tariffs.