Commercial property sales dropped 18% in Q1 2017 compared to the previous year, according to the latest research from Real Capital Analytics (RCA). There was a double-digit, year-over-year drop in both megadeal, as well as single asset trade activity.
RCA real estate economist Jim Costello noted that one bright spot was the industrial sector. It achieved positive year-over-year growth. He also pointed out that the apartment sector performed the worst, recording a 35% year-over-year decline.
Costello reports that private capital sources, which acquired a net of $3.5-billion in CRE property, were the most active buyers and sellers in Q1 2017. The biggest net buyers in Q1 2017 were cross-border investors, while the biggest net sellers were institutional/fund investors.
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