Institutional investors came in ahead of real estate investment trusts (REITs) in the first quarter as the leading buyers of office buildings in the nation, according to Bloomberg. This news implies greater demand, which is expected to help increase office property prices. From Bloomberg:
b Buyers including pension funds, insurance companies and sovereign-wealth funds added a net $1.39 billion to their office-building holdings in the first quarter, compared with $1.1 billion for REITs, according to data from CoStar Group Inc. (CSGP).b
Office sales in the first quarter reached more than $10 billion, an amount more than twice that from the same time the previous year. You can read more about institutional investors, commercial mortgage-backed securities and stock offerings in this Bloomberg article. It offers a helpful look at office commercial real estate in the first quarter.
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Tags: commercial real estate, CRE office market, Morris Southeast Group blog, office buildings, office property
