LONDON Canadian public and corporate pension funds are increasing their property investments abroad, particularly taking advantage of good deals in cash-strapped Europe, according to a report Oct. 3 by global real estate advisory firm DTZ.
Canadian institutional investors bought more than $10 billion in real estate last year in the U.K., Germany, France and Russia, as well as the U.S. and Australia. At the end of 2007, property investments reached 7% of their total portfolios. Most are aiming to increase real estate holdings to a value equal to 10% to 15% of their portfolios, according to the report.