WASHINGTON, DC—Slightly more than three months into the year, foreign investment is tracking well for the District and surrounding environs, according to a data point by CBRE. Foreign capital investment totaled close to $4 billion in 2014 and this year the trend remains strong, it says, typified by Jamestown LP's $500 million acquisition of America's Square and 300 New Jersey. "Notwithstanding recent government austerity measures and a slowdown in office-using employment growth, international investors continue to provide their strong confidence in and appetite for the DC real estate market, particularly in the Trophy and Class A asset sectors," CBRE says in its latest marketflash report.
In related news, global investment in commercial real estate dropped in 2014 for the first time in five years—led by a decline in Chinese land purchasing, according to Cushman & Wakefield.
However volume in the Americas surged ahead 11.4% and now stands at 71% of its 2007 peak, with the US taking over from China as the world's largest real estate investment market. Europe saw an 11.8% gain, a gap which would have been more significant "had it not been for the strength of the US dollar," C&W said.
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