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Commercial real estate sales topped $164B in first half, up nearly 30%
Green Street data showed transactions of $25M-plus rose to $164B from $126B a year earlier, with JPMorgan and other lenders’ increased financing helping drive activity.
Commercial real estate sales activity rose sharply in the first half, even as high interest rates and the Middle East conflict weighed on the economy, according to a report from Green Street cited by Bisnow. Green Street counted $164B of CRE property sales worth $25M or more from January through June, nearly 30% higher than the $126B total recorded over the same period in 2025.
The report also tracked more growth in the lower tier of large deals. Sales of properties valued between $5M and $25M increased 9.3%, rising from $52.3B in the first half of last year to $57.1B this year.
Green Street found particular strength in deal flow handled by sell-side advisers, with transactions brokered by a sell-side adviser up 39.3% year over year, based on a nationwide survey of about 40 brokerages plus data drawn from property records and published reporting. Bisnow also linked the improvement to big banks’ growing willingness to finance CRE, noting Goldman Sachs issued $40B in commercial real estate loans in Q2, up 21% from the prior year.
The data pointed to demand tied to the AI data center buildout and to ongoing rotation as distressed assets trade, including office properties impacted by the pandemic-era shift and other assets facing loan maturities in a higher-rate environment. Bisnow added that the Federal Reserve kept its benchmark rate flat for the fifth consecutive meeting last month, partly reflecting how conflict in Iran has dragged on the global economy and pushed prices higher.