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RCA: Despite “Tepid” End to 2019, CRE Decade Was “Fantastic”
Taking the long view, Real Capital Analytics’ Jim Costello calls the past 10 years “a fantastic decade for U.S. commercial real estate.” Although the final months of 2019 were marked by “tepid deal volume,” the headline national RCA CPPI climbed a cumulative 103% from the close of the previous decade, “and investor interest in the sector continues at a high level” even as there are challenges on the horizon.
In a blog posting preceding the release of RCA’s latest U.S. Capital Trends report on Wednesday, Costello notes that price growth nationally over the past decade has paled in comparison to some of the fastest growing U.S. markets.
“The All-Property RCA CPPI in San Francisco climbed a cumulative 222% over the 10 years and in Manhattan prices climbed 182%,” he writes. “This price growth is on par with the increase in the Nasdaq Composite Index over the same time frame.”
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