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Ian Stanley is a Partner & Chief Financial Officer at RECan Global Group as well as PG Asset Management Inc. and Partners Global Inc. in Halifax, Canada, and is also responsible for acquiring multifamily assets for the RECan funds as well as transaction management, asset management, tax issues and structuring.
Ian, you were recently in Munich at EXPO REAL. What was your impression?
It was an international event that was organized in a highly professional manner. A large trade fair with a great deal of expertise on both sides - both in terms of exhibitors and visitors. Keyword visitors: There were many more people at the trade show than I had expected. In one sentence: "The place to be."
Now you also took part in various discussions with potential investors. Discussions, certainly, in which the current investment situation was analyzed in great detail.
The situation of investors in Europe is certainly not that simple at the moment. But the conversations I participated in were, on balance, very optimistic and positive, despite rising interest rates, inflation, and economic bottlenecks.
You're here to pitch real estate investments in Canada to institutional investors. Why Canada in particular?
As I just indicated, look to Europe. There is a significant energy crisis here, to take just one example. If you look at Canada, you see that the country has now turned into the main exporter in terms of energy.
From the point of view of German and European investors, this means that Canada is both a great place and a reliable partner for investment.
We have a stable and steadily growing real estate market, high immigration, and a wide range of opportunities to invest safely. In addition, Canada has a strong banking system with lower inflation than in the EU or the US and has a AAA currency in the form of the CAD. Canada is also largely independent of economic developments in Eastern Europe.
Thanks, Ian. Perhaps a little more detail: why real estate of all things, i.e., tangible assets?
Compared to Germany, we have a completely different approach to immigration policy in Canada. It is very targeted and focused on highly qualified professionals. Every year more than one percent of our population immigrates to Canada.
This also has a very positive impact on the real estate market, on both sides: residential and commercial.
As you said, there is interest in the Canadian real estate market. But potential investors are still hesitating in this country. They are waiting for the coming year.
While I can understand that after the many conversations I've had, I think that's a mistake. We at Partners Global Inc., for example, are a small investor who analyzes carefully when appropriate market opportunities present themselves.
Now, we see these opportunities because an investment process does not happen overnight. This means that one should invest today in order not to lose any time. To sum up: It would be a big mistake to wait and see.
The Canadian real estate market will offer many opportunities in 2023. At RECan, we want to be ready to invest in time.
Ian, thank you very much for the interview!
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