Canadian REITs have very strong balance sheets and are "on the acquisition warpath" in Canada and the U.S., said Michael Brooks, CEO of the Real Property Association of Canada. "They're as strong as they've ever been," he said. Canadian REITs have been raising money through offerings of equity and convertible debt, he said. Also, since none of the Canadian banks is in financial difficulty, REITs there can access debt at the property level from banks, Brooks said.

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