Savills is expanding its team in Quebec with a group of veterans who plan to launch the brokerage's investment sales team as it seeks to grow in the province.
The team led by Executive Vice Presidents Robert Metcalfe and Jean-Pierre Gagnon "will be responsible for growing the firm’s capital markets presence by advising clients on portfolio strategy and overseeing investment sales transactions," Savills said.
Gagnon and Metcalfe joined the firm from Avison Young, where they served as principals and were part of the firm's capital markets group.
In addition, Noémie Lefebvre moved to Savills as a senior director. She previously served as a director and chartered appraiser at Altus Group. The three have each spent 15 years or more in the real estate industry. Rounding out the quartet is Olivier Dufault-Gagnon, who will serve in the role of associate after spending five years in the real estate industry with a background in research and technology.
Savills is growing its capital markets team in Montreal during a slow period for office sales in the market. Over the past 12 months, the office sales volume totaled $557 million, lower than the annual average over the past three- and five-year periods of $820 million and $1 billion, respectively, according to CoStar data.
"Given the difficulties facing the office market, market participants believe it is likely that there is a bid-ask spread between potential buyers and sellers, which is keeping transaction levels low at the present time," according to a report from CoStar Market Analytics.
The foursome will be based in Savills' Montreal office and offer investment sales advisory services throughout Quebec, the firm said.
“We look forward to growing the firm’s presence in Montréal and throughout Canada,” Gagnon said in a statement.
Savills' Canadian operation has offices in Toronto, Montreal, Calgary and Edmonton and offers services including tenant representation and project management.
“We look forward to leveraging the team’s market expertise to expand our services and solutions throughout Quebec," Savills Canada President Ruth Fischer said in a statement.