Commercial property investment in the United States is off to a strong start so far in 2015, with Q1 sales up 45% year-over-year (y-o-y) on volume of $129 billion.
Office and apartment sales led the way with quarterly sales of $33.5 billion and $33.0 billion, respectively. Apartments saw stronger gains, up 68% over the same period in the prior year, whereas office saw a 43% increase. Both types saw declines from their Q4 2014 levels, however. Cross-border investment more than doubled (111%) this quarter over one year prior, capturing $22.2 billion in properties across all major types.
Traditionally tops in cross-border investment into the U.S., Canadian investors were edged out by sovereign wealth funds from Asia, including GIC’s acquisition of the huge IndCor industrial portfolio from the Blackstone Group.
Entity-level transactions made a significant jump in Q1 2015, with $21.5 billion worth of properties acquired. This was nearly equal to the 2014 full-year total.
Source : Colliers International