A total of $62 billion deals have closed or gone to contract year to date, according to Real Capital, with most of that ($15.9 billion) occurring in the suburban office sector. Some $14.4 billion worth of apartments changed hands, while $13.6 billion worth of CBD office assets were sold. Flex office and retail brought up the rear with $9.9 billion and $8.2 billion respectively.
The downturn in volume is probably good news for owners who have opted to ride out the storm until values improve. Indeed, according to Real Capital, values--already slipping in the recession, fell another 5% to 7% in the wake of the attacks as initial yields on acquisitions increased as much as 30 basis points over pre-attack levels.
A complete report on the national investment picture, as well as regional breakdowns and a focus on property types, is available by clicking on the Real Capital logo on GlobeSt.com's MarketData pages
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
