A Tempered View of CRE as Recovery Gains Traction
Investors Business Daily reports: Taking a less exuberant view of the current commercial real estate market, Vance Cariaga of Investors Business Daily recently recapped 2010, the year the recovery began, and suggested that 2011 will surely be better. Citing data aggregated by Real Capital Analytics, Mr Cariaga stated that, “Sales of commercial properties more than doubled last year to $134.1 billion…Sales topped $27.4 billion in December, the most active month since 2007.” Additionally, “Property portfolio sales rose nearly threefold from 2009…Average deal size increased to $18 million vs. $11 million in 2009…Strong gains in deal counts and sizes were seen in the office, hotel and apartment sectors.”
Of these noteworthy improvements, RCA Director of Research Ben Carlos Thypin stated that, “Things are getting better. Pricing has not really increased on the same scale. And a lot of the deals we see now are taking place in primary markets, with high quality properties.”
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Posted by: Nina Turner