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Retail Real Estate Continues to Recover, Led by Sunbelt and Suburban Properties: JLL

Retail real estate continues to recover, with growing interest in the Sunbelt states and the suburbs; urban retail is expected to rebound once office workers return and tourism picks up, JLL reported Dec. 6 in its Retail Recovery report. Open-air shopping centers remain the sector’s strongest assets, and as for indoor malls — the good ones are here to stay.

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Cap Rates for Medical Sector Squeezed, Overall Net Lease Down: The Boulder Group

Originally published Q3 2021 by the Boulder Group.

Cap rates for the single-tenant, net lease medical sector compressed 55 basis points during the third quarter to 5.95% when compared to the same point a year ago, The Boulder Group reported Dec. 2 in its Q3 Net Lease Medical Report. The overall net lease market, comprised of retail, office and industrial, was down 23 basis points year-to-year.

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Many CRE Firms Among Businesses Rethinking, Repurposing Office Space, Survey Reveals

Originally published on November 30, 2021, by Patrick Sisson for Bisnow National.

A majority of commercial real estate employees expect to be working “completely or partially virtually going forward,” according to a new survey and report released by Deloitte. 

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CRE Lending Activity on the Upswing, Led by Alternative Lenders and Banks: CBRE

Originally published on November 17, 2021, by Michael Tucker for Mortgage Bankers Association.

CBRE, Dallas, reported commercial real estate lending activity surged in the third quarter, reflecting rebounding property acquisitions activity.

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Apartment Buildings Dominate CRE Transactions, Data Shows

Originally published on November 17, 2021 by Prashant Gopal for Bloomberg | Quint.

(Bloomberg) -- U.S. apartment building sales have jumped to record levels, outpacing all other forms of commercial real estate. Deals totaled $241.9 billion in the 12 months through September, up 27% from the same period in 2019, according to a RealPage Inc. analysis of data from Real Capital Analytics Inc. going back to 2001. Apartments accounted for 44% of all transactions, the most for any commercial-property type. 

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Commercial Real Estate Tenants Say They Plan to Expand Next Year, Report Shows

Commercial real estate tenants say they are more likely to increase their space next year than decrease it, with around 70% reportedly looking to expand, the Visual Lease Data Institute reported Nov. 10 in its new commercial real estate outlook. Most tenants and landlords expect rent prices to be the same or slightly higher next year.

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Commercial Property Sales Rebound From Last Year's 10-year Low: CoreLogic

Originally published on November 1, 2021, by Frank Nothaft for CoreLogic.com.

Much like other parts of the U.S. economy, commercial property sales fell when the pandemic began.  By the second full month of the pandemic, settlements on commercial real estate transactions were about one-half the prior year’s level, hitting a 10-year low in May 2020 and down nearly 50% from one year earlier.

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Broader Real Estate Sector to Recover, Hotels to Disappoint, ULI Forecast Predicts

Originally published on October 27, 2021, by the Urban Land Institute. 

The Fall 2021 ULI Real Estate Economic Forecast for 2021 to 2023 gives high-level projections of recovery to pre-pandemic levels for many U.S. real estate indicators by 2023, but with reasons to celebrate for equity REIT investors and significant disappointments for the hotel sector.

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Historic Low Cap Rates in Drug Store Sector, Data Reveals

Originally published by The Boulder Group in Q3 2021.

Cap rates in the single-tenant drug store sector decreased by 59 basis points to a new historic low rate of 5.80% in the third quarter of 2021. New historic low cap rates levels for CVS and Walgreens of 5.15% and 5.40% respectively were the primary driver of the compression. Rite Aid cap rates were compressed by 40 basis points to 7.40% but did not reach their prior historic low (2008). Investor demand for essential retailers carried over from 2020 into 2021, propelling cap rates for all three major tenants in the single-tenant drug store sector lower.

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Flex-office Sector Expected to Grow as Companies Rethink Their Portfolios: CBRE

Originally published by Michael Tucker on October 26, 2021, for Mortgage Bankers Association.

CBRE, Dallas, said the flex-office sector is poised to benefit as companies adapt their office portfolios to accommodate more flexible work practices.

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Pandemic Caused Some Mall Values to Drop by 70%: Data

Originally published on October 20, 2021, by Joy Wiltermuth for MarketWatch.com.

Here comes more trouble for embattled U.S. shopping malls.

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Hospitality Rebounds, Occupancy Rates Rise, Reports Reveal

Originally published on October 17, 2021, by Michael Tucker for MBANewslink.com.

No property type’s fundamentals have rebounded as swiftly as the hotel sector’s, reported Colliers, Toronto.

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CRE Lending Boom Expected Despite Ongoing Coronavirus Pandemic: Yardi Matrix

Originally published by Paul Fiorilla on October 14, 2021, for CommercialSearch.com.

Low-interest rates, increasing transaction volume and pent-up demand for short-term debt on transitional properties have contributed to a surge in mortgage origination in 2021.

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Sunbelt Cities and Alternative Properties Expected to Dominate Real Estate: Report

Originally published on October 14, 2021, by the Urban Land Institute.

PwC US and the Urban Land Institute (ULI) today released Emerging Trends in Real Estate® 2022, highlighting the evolving trends shaping the real estate industry. The report, which includes proprietary data and insights from nearly 1,700 leading real estate industry experts, explores how the property sector has seen encouraging and unprecedented recovery from the Covid-19 pandemic.

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Indoor, Outdoor Mall Visits Down in September as Retail Recovery Slows: Index

Originally published on October 6, 2021, by Ethan Chernofsky for Placer.ai BLOG.

Top tier malls across the country had been experiencing a steady recovery since the start of 2021. This recovery culminated in July when visits to indoor malls rose 1.0% above the same month in 2019, with outdoor mall visits rising 1.8%. Pent-up demand, a lack of travel, general excitement around the retail reopening and more all combined with the Back-to-School retail season to drive an impressive month.

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Commercial Real Estate Sees Double-digit Price Growth in August, Report Shows

Originally published on October 7, 2021, by Michael Tucker for MBA Newslink.

Real Capital Analytics, New York, reported all four major commercial real estate types posted double-digit annual price growth in August.

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Worldwide Wellness Real Estate Sector is Healthy and Growing, New Report Shows

Originally published on September 28, 2021, by Beth McGroarty for Global Wellness Institute.

The nonprofit Global Wellness Institute (GWI), the leading research organization for the wellness industry, today unveiled new data for the wellness real estate market revealing extraordinary recent growth. From 2017-2020, the global market grew 22% on average annually, expanding from $148 billion in 2017 to $225 billion in 2019 to $275 billion in 2020. Wellness residential projects skyrocketed in those three short years, from 740 in 2017 to over 2,300 today.

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Commercial Property Appreciation Increases for Five Consecutive Months: CoStar

Originally published on September 15, 2021, by Michael Tucker for Mortgage Bankers Association.

Commercial property prices just keep increasing, according to reports from CoStar, Washington, D.C. and Green Street, Newport Beach, Calif.

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Hotel Sector Continues to Recover: STR and JLL Report

Originally published on September 14, 2021, by Michael Tucker for Mortgage Bankers Association.

The hotel sector continues to bounce back from a devastating 2020, according to new reports from STR and JLL Hotels.

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Small US Banks at Greatest Risk of Commercial Real Estate Losses: Fitch Ratings

Originally published on August 31, 2021, on MBA Newslink.

Fitch Ratings, Chicago, said the U.S. commercial real estate market will likely see deteriorating credit metrics once stimulus measures wind down and forbearance programs expire, with smaller CRE-concentrated banks more susceptible to elevated losses, which are expected to peak below levels seen in the past.

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