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O Canada

Our allies across the northern border are doing just fine, thank you. REITs and Public companies raised $3 billion in 2009, with 50% raised in the 4th quarter. The Canadian Banks escaped the debacle that setback the US banking system, so credit is flowing—relatively–more freely. Fundamentals remain strong in portfolios across most asset classes. The commercial office sector is okay, but more money is chasing industrial. Nevertheless, most companies remain tentative on the hiring front, but we are starting to see Canadian real estate companies “dip their toe in the water” with selective hiring. Overall, a good report card.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
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