February 10, 2020 Comments Off on Single-Asset and Portfolio Sales Set Record as Entity-Level Deals Plummet Views: 963 National News, Top National

Single-Asset and Portfolio Sales Set Record as Entity-Level Deals Plummet

Fourth-quarter commercial property sales of single assets and portfolios totaled $150.7 billion, the highest quarterly total of such deals on record, says CBRE. On a year-over-year basis, though, Q4 2019 volume was down 8.1%, due to a lack of entity-level transactions.

For full-year 2019 as well, portfolio and single-asset sales were up Y-O-Y, driven by a surge in industrial acquisitions. But here again, full-year deal volume was down 1.8% to $542.4 billion, on account of an 86% decline in entity-level deals.

2019 also saw a 54% Y-O-Y decline in cross-border investment, says CBRE. This was due largely to a decrease in entity-level and retail sales, as well as declines in capital from Canada and mainland China—two major sources in recent years.
When entity-level deals are taken out of the equation, cross-border investment’s annual decline was a more moderate 12.1%.

Pictured: The Bellagio in Las Vegas, which traded for $4.2 billion in Q4.

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