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Traditionally, you could comfortably pencil in Manhattan for the top spot in the US for cross-border investment on Real Capital Analytics’ US Cross-Border investment Compendium.

But that changed in Q1 as Seattle (with an 11% YOY decline) took the top spot in the 12 months through Q1 2021, after moving up from the No. 2 spot last year. Manhattan (-79%) has slipped to the second position after occupying the top slot in 2020. San Francisco (-28%) remained in the third spot. Chicago (+28%), which was No. 6 last year, moved into the fourth spot. Dallas (-46%) dropped from No. 4 to No. 5.

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