Private investors are flocking to the retail space and now account of 53% of all deals greater than $50 million, with capital particularly focused on high-quality assets.
Last year, private capital accounted for 45.5% of total market share, with $6.7 billion invested in single-asset transactions over the $50 million price point, according to JLL. Private capital was also deployed in 11 retail portfolio acquisitions valued at just under $1.5 billion last year.
Over the last year to year-and-a-half, investment managers had "limited retail appetite" due to over-allocations in their portfolios, says Barry Brown, senior managing director and retail co-leader in capital markets at JLL. Public REITs were also "relatively quiet," save a few specific strategic deals.
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