Investment in commercial real estate soared by 10% year over year in the second quarter despite increasing inflationary headwinds, according to a new report from CBRE.
Investment volume hit $167 billion in the quarter, with the trailing four quarter figure registering $881 billion, a historic high. Entity-level transaction volume decreased by 17%, however, over 2021 figures, a fact CBRE says is likely owing to higher borrowing costs. Portfolio transaction volume also increased by 31% year over year.
Among asset classes, multifamily led the way with $78 billion in Q2 volume, followed by industrial & logistics with $32 billion and office with $24 billion. Retail investment increased by 41% year over year to close at $21 billion.
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