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Global Transaction Activity Dips in Third Quarter
Global commercial real estate transaction activity slipped in the third quarter, according to research by Real Capital Analytics (RCA). The dip came despite a swell of entity deals and an uptick in U.S. activity, which wasn’t enough to offset weaker deal volume in Europe and Asia Pacific.
The volume of income-producing assets fell 5% in the third quarter compared with a year earlier, wrote RCA’s Simon Mallinson. Weakness in Germany and the U.K. weighed on European activity levels, and in Asia Pacific all the leading markets except for South Korea and Singapore stalled.
The retail sector, though battered and oft-maligned, showed the strongest volume growth from a year earlier, gaining 23%, reported RCA. The increase was due in large part to one entity-level deal: Brookfield’s acquisition of GGP. Mallinson wrote, “Entity-level megadeals have been more evident, as investors seek to place significant amounts of capital in single transactions.”
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- ◦Sale/Acquisition
