Pacific Business News / September 29th, 2015
Pacific Business News reports: Hawaii was ranked in 26th place in the world in sales volume for the first half of 2015 according to Real Capital Analytics’ Global Capital Trends (GCT) report. Steven Williams, executive managing director at Real Capital Analytics (RCA), a commercial real estate data firm, said this is the first time Hawaii has made it into the top 30— realizing a 28% year over year change in comparison to the first half of 2014. It has risen in rankings from 130th in 2009 to 34th in 2014. Asia-Pacific capital helped drive Hawaii’s $3.7 billion in sales for the first half of 2015 with AustraliaSuper’s $1.375 billion partial interest purchase of General Growth Properties Inc’s Ala Moana Center portfolio in Honolulu. RCA ranked the portfolio as one of the top portfolio sales year to date in the Americas.
RCA pointed out that transaction activity has continued to grow strongly in the first half of this year due to continued value growth in many markets and few attractive alternatives in other asset classes. Compared to the first half of 2014, there was 17 percent growth for income-producing real estate in the first half of this year.
View the full article on Pacific Business News: Real Capital Analytics Ranks Hawaii in Top 30 Global Markets for Commercial Real Estate Sales Volume