For institutional fund strategies, Downtown CBD carries the strongest investor flag in Vancouver, with prime yields around 5.2%.

  • Trophy submarket (Downtown CBD) carries the strongest investor flag.
  • Prime yield: 5.2%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Vancouver office fund strategy and flag

For institutional fund strategies, Downtown CBD carries the strongest investor flag in Vancouver, with prime yields around 5.2%.

TL;DR

  • Trophy submarket (Downtown CBD) carries the strongest investor flag.
  • Prime yield: 5.2%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Where core funds buy

Core capital concentrates in trophy stock with long-WAULT income. In Vancouver, that's Downtown CBD and assets like The Stack, Vancouver Centre II.

Where value-add looks

Value-add capital looks at secondary Class A and convertible Class B with repositioning angle. The trophy/secondary cap-rate spread has widened post-2022, which has reopened the value-add basis for repositioning plays.

Key facts

cityVancouver
countryCanada
regionAmericas
classARentLocal52 CAD/sqft/yr
classARentUsd$39/sqft/yr
vacancy11.2%
typicalLeaseYears10
typicalRentFreeMonths10
submarkets5
primeYieldPct5.2%
primeYield5.2%
trophyAnchorDowntown CBD

Frequently asked questions

Where do core funds buy in Vancouver?
Trophy submarket — Downtown CBD — and the most defensible long-WAULT assets within it.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

Full sources index · Submit a correction

Related topics