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Canadian Capital Flows to U.S. Real Estate Unfazed by Tariffs
14 Sep
Summary
- Canadian firms boosted U.S. real estate spending to $9B over 12 months.
- 32% of Canadian firms' global acquisition capital went to the U.S.
- Investment experts believe tariffs won't deter large-scale deals.
As of September 14, 2026, Canadian firms have notably accelerated their purchases of U.S. commercial real estate in the first half of the year, seemingly undeterred by the ongoing trade war between the two nations.
Over the 12 months concluding in June 2026, Canadian companies invested $9 billion in U.S. properties. This represents a substantial increase from the prior quarter's rolling average of $5 billion. Furthermore, Canadian firms directed 32% of their capital raised for global acquisitions to the United States during this period, a significant rise from the previous 19.3%.
These investments saw capital deployed across multifamily (32%), industrial (27%), and office (18%) assets. While other global destinations like Japan, the UK, Spain, and Australia also received Canadian capital, their combined $4.9 billion investment lagged behind the U.S. total.
Industry analysts believe that escalating tariffs on goods like molasses and motorcycles will not significantly impact major investment decisions by large firms seeking portfolio diversification. The U.S. remains the premier destination for Canadian real estate capital, a trend that has persisted and is attracting an increasing share of global investment.
