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Analysis

Alternative Sector Sales Jumped in Q1 And Here's Why

But the Q1 total largely depended on one big deal rather than more uniform growth among property types.

Sales volume for alternative sectors — medical office, mobile and manufactured, R&D, self-storage, student housing, age-restricted, cold storage, and data center — jumped 41% year over year in the first quarter of 2024, according to MSCI’s capital trends report for 2024 Q1.

It was a big relative win to the overall 16% year-over-year market decline. However, it was also heavily weighted on the merger of HealthPeak and Physicians Realty Trust in March, which lead to a 239% year-over-year change in medical office. Without that, the alternatives deal volume would have been down 17% year over year, roughly matching general market performance.

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Erik Sherman

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