The sale of a 50% stake in the Fashion Show Mall in Las Vegas was Q3's largest single-asset deal.
NEW YORK CITY—By deal type, it was in individual assets that commercial property sales volume saw year-over-year growth in the third quarter, Real Capital Analytics said Thursday. The 2% Y-O-Y gain in sales of these assets was offset, though, by a 15% drop in portfolio and entity-level transactions.
That being said, even a modest Y-O-Y gain represents an improvement in a year that to date has seen annual declines. Q3 volume overall was down by 2% from the year-ago period, representing a moderation in the pace of the falling off: in Q1 the Y-O-Y decline was 17%.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
