By Jim Costello on March 24th, 2021
U.S. deal volume tumbled across the property types in February, the latest edition of US Capital Trends shows. The absence of any blockbuster entity-level deals in the industrial sector threw a harsh light on comparisons to transaction volume of a year ago. Still, individual industrial asset sales were near a record level.
Total U.S. transaction volume dropped 59% in February compared to a year earlier. Sales in the office sector fared the worst of the major property types, falling 71% year-over-year, while apartment sector deal volume declined 33%. In the industrial sector, sales of individual assets dropped just 6% from a year ago though the sector in total dropped 69%. Portfolio and entity-level sales tumbled 90% with no supersized deal last month to match the Prologis acquisition of Liberty Property Trust in February 2020.
The new edition of US Capital Trends also reveals the trends across the major lender groups in 2020. After a pause in the second quarter of 2020, CMBS and investor-driven lenders gained ground into the end of the year, capturing a combined 19% share of the U.S. lending market in the final quarter.
Clients of Real Capital Analytics <<click here>> to download the latest US Capital Trends report from the RCA website. In this edition we examine the lender trends of 2020, charting the activity of CMBS, investor-driven, agency, private, bank and other lenders throughout the pandemic year. The top originators of 2020 are ranked. We also report on February 2021 investment sales activity and pricing.
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