Tuesday, 26 January 2016 | Commercial Real Estate Direct Staff Report | Commercial Real Estate Direct
A total of $533 billion of commercial real estate changed hands last year, up 23 percent from a year earlier, according to Real Capital Analytics. The volume also was roughly 4 percent more than had been projected as late as last November.
However, it remains shy of the record $574.9 billion of deal volume that took place during the market’s peak year of 2007.
Foreign investors accounted for $91.1 billion, or 17.1 percent of the transaction volume last year. That was up from the 10 percent average in each of the previous four years, according to the New York research company. The foreign investors were led by the Canadians, which completed $24.6 billion of deals. Those investors included the Canada Pension Plan Investment Board and Caisse de depot et placement du Quebec, whose Ivanhoe Cambridge affiliate late last year purchased Manhattan’s Stuyvesant Town/Peter Cooper Village apartment property for $5.3 billion.
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