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CRE Investment Sales Reach 16-Year Quarterly High
U.S. commercial real estate investment volume surged to $176.9 billion in the third quarter, the highest quarterly total since at least 2005, CBRE reported Friday. Volume was up 151.4% from Q3 2020 and 30.1% higher than the Q3 average from 2015 to 2019.
Volume increased significantly across all sectors. In percentage terms, growth was strongest for hotels (318%)—given the extreme decline in activity last year—and weakest although still sizeable for industrial (124%), highlighting the sector’s resilience during the pandemic. Volume for the 12 months ending Q3 2021 was up year-over-year in all but one of the top 20 markets (Chicago), led by San Diego and South Florida.
Among classes of buyers, cross-border investors registered the strongest year-over-year Q3 growth in investment at 506.5%. REITs/public companies had the greatest increase over the quarterly average of the three years prior to the pandemic (23.6%).
- ◦Sale/Acquisition
