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Overseas investors focused on big-ticket Manhattan office acquisitions

  • ​Overseas investors—attracted by the perceived long-term safety of investing in Manhattan compared with other global gateway cities–have concentrated on large-scale office acquisition opportunities in recent years. Five of the top six office transactions in the first half of 2017, representing 86 percent of total office investment sales volume, involved foreign capital, highlighted by the $2.2-billion acquisition of 245 Park Avenue by HNA Group.
  • Since 2015, China (35 percent), Canada (19 percent), Germany (9 percent), and Hong Kong (8 percent) were the most active foreign office purchasers. Investors from these nations are expected to remain active in the near term.
  • During this period, the average transaction size by domestic purchasers has remained relatively static. Steady investment yields and Treasury rates point to continued demand from this segment as well. ​

Note: $10 million and greater sales only
Source: JLL Research​

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