From the blog...

What a $2B Investor Sees in Ottawa Real Estate

We recently had Mike Pyman on the podcast—someone who has been involved in over $2 billion in commercial real estate—and the conversation gave a really interesting look at how large-scale investors view Ottawa.

It’s a perspective we don’t always hear on the residential side.

One of the biggest themes was stability.

When institutional investors look at Ottawa, the presence of the federal government plays a major role. It creates a level of consistency that you don’t see in many other cities. While places like Toronto, Calgary, or Vancouver can experience sharper ups and downs tied to specific industries, Ottawa tends to move in a more measured way.

There are still cycles—but they’re typically less dramatic.

Another interesting point was how much behaviour matters in real estate. Investors often move in waves. Capital pulls back when there’s uncertainty, and then gradually returns once opportunities start to appear. It’s not unlike the stock market, but with a longer-term lens.

Right now, Ottawa is being seen as slightly more uncertain than usual, largely due to post-COVID shifts—especially in the downtown core. But at the same time, that uncertainty is also what’s creating opportunity. As some investors step back, others are starting to look more closely because potential returns have improved.

From an institutional perspective, one of the most sought-after assets today is simple: grocery-anchored real estate. It’s steady, essential, and performs consistently regardless of market conditions.

It’s a good reminder that while headlines often focus on short-term changes, most serious investors are thinking years ahead.

We also got into Mike’s process of building a custom home in Westboro, and how his approach to real estate carries through at every level—from large commercial deals to personal decisions.

If you’re curious how investors at that level think about markets, timing, and long-term strategy, it’s a great conversation.

Watch the video or listen to the full podcast to hear it all.