Green Street
Property Insights: Quarterly Transaction Trends

Property Insights: Quarterly Transaction Trends

Green Street has published a new report stating that first-quarter sales volume dropped 70% year-over-year across all four of the core sectors: Office, Industrial, Apartments and Retail, as property values continue to erode. U.S. Sales Comps data on transactions of $5 million and higher was utilized to produce the new report entitled, Property Insights: Quarterly Transaction Trends. Additional takeaways from the Property Insights report include:
  • REIT M&A, another barometer of transaction volume, is on-pace for an average year.
  • Public-to-public M&A deals are more likely than privatizations given the availability and cost of debt financing.
  • The debt markets remain challenged as lending standards have tightened over the past year.
  • Quarterly net new commercial real estate loan growth by banks has been shrinking in '23 and recently turned negative.
  • CMBS issuance in 1Q23 declined 65% year-over year, but some recent deals “provide hope” for an increase in 2H23.
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