Private buyers will drive Canada’s commercial real estate market for the foreseeable future, says Kingsett Capital’s CEO.

Rob Kumer made the comments Tuesday at Connect’s Canada Kick-off at Hines’ CIBC Square in downtown Toronto. Meanwhile, institutions will be the most active sellers, Kumer added.

He was among a CRE leaders and industry executives who attended Connect’s first Canadian conference. The event drew an audience of more than 200.

Panelists included Peter Senst, president of CBRE’s Canadian capital markets national investment team; Syl Apps, managing director and co-country head for Hines; Mark Kenney, CEO of Canadian Apartment Properties REIT, who sparked a spirited session on housing; Ray Wong, Altus Group’s vice-president of data solutions and client delivery; and, Marie-France Benoit, Avison Young’s director of Canadian market intelligence.

The experts discussed where the Canadian commercial real estate market is headed through 2024 and beyond, examine ways to house Canada’s growing population and explained why U.S. and other international companies are coming to Canada.

Photo: Connect CRE photo illustration, photos supplied by panelists’ companies