Foundation Capital's largest operating market. The headline 3.8% CMHC vacancy is the highest in 15 years and reflects new purpose-built supply meeting moderated immigration. In-place portfolio occupancy remains meaningfully tighter than the market average for well-managed assets. Cap rate band of 4.5–5.5% reflects recent transaction comps across stabilized purpose-built rental.
Vacancy and rent reflect purpose-built rental apartments. Cap rate reflects multifamily transactions. This is for informational purposes only and does not constitute investment advice.