By Jim Costello on February 20th, 2019
Cross-border acquisitions of U.S. commercial real estate hit a near-record level in 2018, with Canadian investors leading the surge, the latest US Cross-Border Investment Compendium shows. The $94.9 billion in cross-border acquisitions last year was second only to the $100.0 billion high-water mark set in 2015.
Canadian investors put $47.9 billion into U.S. commercial real estate deals, a full 50% of total cross-border volume for the year. Entity-level transactions from the likes of Brookfield AM, the CPP Investment Board, OMERS, Granite REIT and CDPQ were the biggest source of inflows from Canada.
Cross-border acquisitions represented 17% of total U.S. deal activity in 2018. France was the second largest source in the year, due to the Unibail-Rodamco purchase of Westfield, and Singapore was the number three source. Chinese investors were the fourth largest investment group, down from #3 in 2017 and #1 in 2016.
If you are a current RCA subscriber log into your account to download the US Cross-Border Investment Compendium PDF and data file for Q4’18 from the RCA website. To get more information about becoming a client, contact us.