Hopeful news for real estate magnates like Andrew Farkas — estimates put total global commercial real estate sales at $440 billion for this year after the second quarter finished up with a $101 billion worldwide total. Sales are up 47 percent compared to numbers from a year earlier, and direct investment was up 46 percent from the first quarter.
The increase is chiefly do to a rise in sales in the Americas — the United States, Canada and South and Central America — which raked in $49 billion in direct investment in commercial real estate. Though this region was one of the slowest to begin its recovery from the global economic crisis, the strengthening of lending markets allowed the crucial debt financing to make deals.
Finishing with a slightly higher total compared to last year, Europe, the Middle East and Africa rounded out at a $34 billion investment total. Though investment in the Middle East remained mostly unchanged, Japan saw a huge decline — 30 percent, to be exact — because of the earthquake that devastated the region. Europe also was hurting during the second quarter due to the stagnant economic situation in Greece and other euro zone countries.
But the swift increase in global commercial real estate totals compared with last year provides positive news for those in the real estate industry like Andrew Farkas, who is the CEO and Chairman of Island Capital Group, LLC.
NAI Rio Grande Valley is a focused commercial real estate brokerage, consulting, development and syndication firm serving the Rio Grande Valley and based in McAllen, Texas. Our mission is to transform real estate opportunities into profits for owners, users and investors. |
Posts
No comments:
Post a Comment