{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Why Buyers and Sellers Finally Moved in 2025, and What\u2019s Next for Quebec CRE","description":"Quebec\u2019s commercial real estate market has changed fast, and the old \u201clocal only\u201d playbook does not hold up anymore. Louis Bergeron, partner at HPDG, joins Axel Monsaingeon to unpack what appraisers are seeing before the headlines: how developers now chase opportunities across the province, why 2024 felt frozen, and what shifted in 2025 to bring buyers and sellers closer together. Louis also shares the real story behind PDG\u2019s roots coming out of Desjardins, how the firm grew through acquisitions and mergers, and why a merger has to be \u201c1 + 1 = 3\u201d or it is not worth doing. They dig into PDG\u2019s full-service model from valuation and property management to tax appeals, litigation support, and expropriation tied to major projects like the REM and the Blue Line extension. Louis closes with what PDG is building for 2026, including a refreshed brand and a bigger push to share market insights, plus why comparing cap rates is often harder than people think. &amp;nbsp; Topics &amp;amp; Timestamps \ud83d\uddfa\ufe0f The market is not local anymore: developers go wherever opportunity is (00:00:00) \ud83e\uddec HPDG\u2019s \u201cDNA\u201d: staying close to clients from market study to asset management (00:01:13) \ud83c\udfe6 Origin story: Desjardins, the 90s crash, and how HPDG was formed (00:02:06) \ud83d\udcc8 Growth strategy: the 2018 merger and expansion through acquisitions (00:04:02) \ud83c\udfe2 How property management started: from crisis cycles to condo management (00:06:25) \ud83e\uddfe Beyond financing valuations: tax appeal work and investor support A to Z (00:08:18) \u2696\ufe0f Litigation support and expropriation: REM and Blue Line context (00:09:35) \ud83e\udde0 Expropriation valuation is different and the law has changed (00:10:58) \ud83d\ude80 Entrepreneurship is not linear: expanding services across Quebec (00:11:41) \ud83e\udd1d Merger mantra: \u201c1 + 1 has to equal 3\u201d, and why they ended a merger (00:12:55) \ud83d\udcca What changed in 2025: market rebound and buyer-seller gap narrowing (00:16:40) \ud83c\udfd9\ufe0f Where deals are happening: multi, office, industrial shifting behavior (00:17:30) \ud83c\udfd7\ufe0f Office market reality: towers, notable deals, and transactions not announced yet (00:18:38) \ud83d\udd04 2026 plans: rebrand + sharing more market insights and data (00:20:59) \ud83c\udf4e\ud83c\udf4e Cap rates \u201capples to apples\u201d problem and confidentiality constraints (00:23:26) \ud83c\udf10 Best way to contact HPDG: website and LinkedIn (00:24:17) &amp;nbsp; \ud83d\udd17 Connect with Louis Bergeron \ud83d\udcbc LinkedIn:https:\/\/www.linkedin.com\/in\/louis-bergeron\/ \ud83c\udfe2 Avison Young: https:\/\/www.hpdg.ca\/ &amp;nbsp; \ud83d\udc64 Follow Axel Monsaingeon \ud83d\udcbc LinkedIn: https:\/\/www.linkedin.com\/in\/axel-monsaingeon-42577b28\/ \ud83d\udcf8 Instagram: https:\/\/www.instagram.com\/axelmonsaingeon &amp;nbsp; \ud83c\udf10 Explore more resources \ud83d\udcca Market guides, data, and advertising opportunities: https:\/\/www.e5pace.com\/ ","author_name":"Espace Montr\u00e9al Podcast","author_url":"https:\/\/www.e5pace.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39758665\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/395868\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/39758665"}