MIAMI—The United States has witnessed a marked increase in cross-border activity as investor focus shifted to the region. So says a new CBRE Global Capital MarketView.

Although that’s not exactly a new thought in Miami, the black and white numbers are still telling. The Americas region, driven predominantly by U.S. and Canadian activity in the office and multifamily sectors, was the only region to post a quarterly rise in volume.

Specifically, cross-border investments in the U.S. increased 67% year-over-year, CBRE reports. Interest has heighted as a result of the high level of liquidity that gateway U.S. markets provide, CBRE notes, but also because of the relatively large pool of high-quality assets available. So how does that translate to Miami?

“When you talk about private capital, I believe that in a rising tide environment, when all world economies were doing well, there has traditionally been strong investment interest in the residential sector in Miami,” Charles Foschini, vice chairman of South Florida Markets for CBRE, tells GlobeSt.com. “That is historically true.”

By contrast, Foschni says in a falling tide environment additional flight capital comes to Miami. That buoys the region’s investment trades as well as single family residential trade. That is what Miami has been witnessing for the past several years.

With a 20% year-over-year rise in volume, investor interest in the Americas—particularly the U.S.—was focused on CBD office assets in key gateway markets, according to the CBRE report. The biggest story in Miami continues to be Latin American investors in the condo market.

“In this economy you have seen significant investments from Latin America and Mexico purchasing A class office and multifamily properties and competing very effectively with the institutions and the traditional U.S. purchasers,” Foschni says. “Foreign investors believe in the Florida story. If you take a look at our condo inventory, they said it was a 10-year sell out period and it happened in a couple of years.”