Amid uncertainties related to rising interest rates, the over-extended real estate cycle and a lingering bid/ask gap, investment sales volume remained steady in the first six months of the year, while one property sector—hotels—posted a standout performance.
There was also a surprise in the retail sector, which saw a 39 percent year-over-year sales volume surge in the second quarter, with $20.7 billion worth of deals, according to RCA. But Costello notes that this increase was primarily the result of Unibail-Rodamco completing its acquisition of mall owner Westfield Corp.. . . more