Canada real estate’s largest independent commercial real estate company Avison Young, has just acquired the assets of Houston’s Mason Partners brokerage. According to the news from Avison Young CEO Mark E. Rose (left), both co-founders of Mason Partners will now join the Canada firms ranks.
Avison Young has grown from 11 offices to come 43 in the last four years. The firm has over 1100 agents across Canada and he US. On the Mason Partners deal, Rose had this to add:
“Houston is the energy capital of the world and a critical growth market for Avison Young. The acquisition of Mason Partners allows us to partner with some of the top brokers in Houston, and immediately creates a strong presence for Avison Young in Houston’s robust land market.”
Another news release from Avison Young last week predicted stability for the 2013 Canadian and US markets. The extensive report tied to the release examines major city markets across North America. The gist of the report forecasts the need for patience by investors and sellers, in particular where the US market is concerned.
In the extensive Canada forecast (PDF) Mark Rose’s personal message to readers includes this advice for 2014 and beyond:
“…Focus on building capital positions in 2013, perhaps selling non-strategic assets to fund a war chest; and arrange for access to additional
debt and equity, as 2014 appears bright…”
The office vacancy graphic from the above report defines areas of Canada commercial which will probably dictate investing trends there for the coming months.
Image credit: Mark Rose – courtesy Commercial Property Executive