Canadians Are Largest Foreign Real Estate Investors in U.S., Says Arizona Fund Manager

SCOTTSDALE, AZ—Quick now, which foreign country is the largest real estate investor today in the U.S.?

Japan? No. China? No. Russia? No? It’s Canada, believe it or not.

E. Patrick LaVoie, Fund Manager for the Arizona-based Westward Fund, is one who believes it. He also has numbers to back him up.

“The fact that Canadian investment in U.S. real estate more than doubled in one year, from 11% to 23.5%, makes Canada the largest foreign real estate investor in the U.S.,” says LaVoie.

What’s the strong attraction among the Canadians? For one thing, LaVoie says, the Canadian dollar is currently at par with the U.S. dollar, something that hasn’t happened since November of 1976.
“The Canadians are experiencing the best exchange rate in nearly three decades,” he says. “For another thing, property values in the U.S. have plummeted, causing it to be a perfect time to buy.

“The recession has produced a surplus of high-quality real estate assets that are now available at substantially below-normal prices, particularly here in Arizona.” LaVoie points out.

A creation of Equity Capital Group (ECG), the Westward Fund is designed to capitalize on the unprecedented real estate opportunities in today's depressed market.

LaVoie, also President of ECG, states, “Drawing from decades of relationship building in the Arizona real estate, banking and financial arenas, we are committed to preferential deal flow and early access to buying opportunities for our clients.


“The timing is paramount for private equity players to capitalize on the current market situation.”

Markets like Arizona have seen major price reductions from what they were just a few years ago.
For example, La Voie says, “If you had bought a condo in Phoenix for $200,000 in 2005, it would have cost approximately $250,000 CAD (using a Canadian dollar worth $0.80 U.S.). Today, that same condo is on the market in Phoenix for $180,000, which in Canadian currency costs only $180,000.”

Economist Noah Blackstein, (top left photo) one of Canada’s premier U.S. Growth Fund Managers says, “Canadians might be wise to move quickly, now that the Canadian dollar is at par. While U.S. real estate prices may have more downside, I would seize the opportunity of parity and buy now, and enjoy it for the rest of your life.”


LaVoie of Westward Fund, adds, “Foreign investment has an undeniable presence in the U.S. real estate market, especially here in Arizona. Opportunities are abundant.

“Now is the time to buy and our Canadian friends clearly recognize this. For them, this is the most opportune time to invest.”