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1.Market Observations, 8.Was Sticky

3 Feb 2020 (AFR) – Hunt for assets after record year in tower deals

(3 February 2020, AFR, p34, Nick Lenaghan, Property Editor)

Office market transactions (JLL Research, AFR)

Office market transactions (JLL Research, AFR)

‘A run of mega-deals pushed the annual tally of office tower transactions to a record high and past the $20 billion mark for the first time last year, according to analysis by commercial agency JLL. Last year’s office deals totalled $22.5 billion, pipping the previous record of $19.87 billion set in 2018. Behind those figures lies a story about how the frequency of large-scale tower transactions increased dramatically over the past year, as institutional capital on the hunt for yield poured into the commercial property sector. On JLL’s count, there were…’

Read more at AFR.com (might need AFR login access)

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