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3Q16 United States Capital Markets Report

3Q16 United States Capital Markets Report

NGKF Capital Markets presents the Third Quarter 2016 United States Capital Markets Report for the Intelligent Investor. The statistics and in-depth market perspective contained in the report illustrate current trends with a focus on national investment sales.

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Executive Overview
Sales Volume Year-to-date sales volume is 14% below 2015 levels, but remains on pace to be the third highest yearly total of the past decade.
Cap Rates Cap rates have fluctuated within a tight range over the past few quarters, however some markets are beginning to experience incremental expansion.
Rent Growth Multihousing rent growth has slowed in primary metros such as New York and San Francisco, while emerging secondary markets continue to show resilient fundamentals.
Supply and Demand Investors continue to be focused on value-add properties, however demand is currently strongest for quality office assets located in the western United States.
International Capital  Yields remain an attractive option for international capital, which has invested $45 billion into United States commercial real estate year-to-date.
Debt Markets Regional and local banks have helped to fill the void left by the CMBS market, where issuance is down 36% year-over-year.