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Commercial real estate sales total $107B in August as M&A booms
MSCI data shows August CRE sales volume rose 127% year over year on a megadeals boost, but sales excluding M&A fell about 21%.
Commercial real estate sales volume hit $107 billion in August, driven by a record level of merger activity that helped offset a slower pace in individual property transactions, according to data cited by Bisnow and MSCI.
The report said $70 billion of the August total came from M&A type sales. Megadeals lifted transaction volume 127% year over year, but total sales excluding M&A were down roughly 21% compared to last year.
MSCI analysts said the results reflect a highly liquid CRE market, even as deal volume expansion appears to be slowing.
JPMorgan Chase analysts noted rising interest rates and a shifting capital markets environment were unlikely to have stopped many deals in August, but could weigh on activity in the months ahead.