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Multifamily led all other asset classes, recording deals worth $8.2 billion.
Revenue per available room (RevPAR) continued to slip as did hotel loan originations.
The average prime multifamily cap rate has risen by 155 basis points to 4.92% in a year
Leasing volume for 2023 on track to fall 13% below 2022 total.
It is expected to revert to one to two square feet per worker.
But Midwestern cities like Kansas City, Mo., dominate the top 10.
Year-to-date gross yields have run from 3.2% to 11.7%.
In 2Q 2023, household formation in the U.S. reached its highest point since Covid.
Also retail reached its highest contribution level since the pandemic.
The suburbs appear to be a favored destination.