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U.S. Investment Sales Post Third Highest Q2 on Record

U.S. investment volume sales volume rebounded strongly in the second quarter to $130.9 billion—the third highest Q2 volume on record after 2019 and 2007, CBRE said Tuesday, citing Real Capital Analytics data. Volume was up 169.5% from the pandemic-era trough in Q2 2020. 

Volume increased significantly across all sectors year-over-year. In percentage terms, growth was strongest in the hotel sector, which was up 1,575% Y-O-Y from the nearly non-existent volume of the year-ago period. Nearly half the Q2 total derived from Blackstone and Starwood Capital Group’s joint acquisition of Extended Stay America for $6.1 billion. 

Cap rates decreased year-over-year for nearly all sectors, with the largest decline for industrial (-19 basis points). Office, hotel and multifamily cap rates declined between 6 and 9 bps, while retail cap rates rose by 15 bps. However, these changes may be skewed by the relatively low level of transaction volume in Q2 2020. 


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CBRE Capital Markets

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition