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Real Capital Analytics

Real Capital Analytics, Inc. (RCA) is the authority on the deals, the players and the trends that drive the commercial real estate investment markets.

Data is at the forefront of our business – having recorded over $18 trillion of commercial property transactions linked to over 200,000 investor and lender profiles, and providing our subscribers a full micro to macro view of your chosen market, no other source compares.

Across the globe, the most active investors, lenders, brokers and advisors depend on RCA’s unique insight to formulate their strategies, source new opportunities, and execute their deals. An industry pioneer since 2000, RCA has earned a reputation of having the most timely and reliable transaction data and providing valuable intelligence on market pricing, capital flows and investment trends.

We publish the series of widely-read Capital Trends reports (Global, US, Europe and Asia Pacific) which are frequently quoted in industry news and academic research.

RCA is privately held and headquartered in New York City with offices in San Jose, London and Singapore.

January 15, 2021 / Real Estate

All Eyes on US Distressed Assets Into 2021

From Real Capital Analytics
A common theme in the media for December was that we lived through a horrible year in 2020 and that 2021 would be better for us all. Perhaps this sentiment will hold by year-end but the start has been chaotic. Conditions might become more distressing for commercial real estate investors throughout the year, a turn of events that some players are hoping to see.
January 14, 2021 / Real Estate

European Apartment Investment at Record Share

From Real Capital Analytics
The biggest institutional investors into Europe’s commercial property market set a new record for apartment investment in 2020. Nearly 30% of total acquisition activity was focused on the residential for rent and student housing sector last year, according to Real Capital Analytics data.
January 13, 2021 / Economy

Pricing Barriers Challenge Manhattan Office Repurposing

From Real Capital Analytics
There is a line of thinking around the Covid-19 pandemic that developers can solve some of the problems caused by rising office vacancies in Midtown Manhattan. Developers are capable of amazing feats, but a stabilization of the office market will ultimately depend on a curtailment of the pandemic.
January 11, 2021 / Economy

Apartment Developers Not Buying Dirt Like Before

From Real Capital Analytics
Development site sales were a bright spot for the U.S. market in 2020, with investment activity for the year through November down only 5% from a year earlier, according to Real Capital Analytics data. Who is buying these sites and the reasons why have changed from earlier in the cycle.
January 7, 2021 / Economy

Europe Dominates World’s Most Liquid Markets

From Real Capital Analytics
Europe’s biggest commercial real estate markets have maintained higher liquidity through the ongoing Covid-19 pandemic than markets in the Americas and Asia Pacific, according to the third quarter 2020 update of the RCA Capital Liquidity Scores.
December 24, 2020 / Economy

Shifts in South Korean Deal Activity Home and Abroad

From Real Capital Analytics
One of the biggest cross-border stories of 2019 was the outpouring of South Korean capital into Europe and the U.S. Towards the end of last year, there were signs that this trend was reaching its satiation point – asset managers had needed time to digest and syndicate the stakes in their newly acquired real estate assets back home.
December 22, 2020 / Economy

Chart: Covid Crisis Impact on Global Deal Flow vs GFC

From Real Capital Analytics
In July, after the first full quarter when we saw the global impact of the Covid-19 maelstrom, we studied the drop in global commercial real estate activity with a historical perspective going back to the Global Financial Crisis (GFC). Today, the chart plotting the average weekly deal count for the three global zones reveals more about the decline caused by an extraordinary crisis
December 18, 2020 / Real Estate

Industrial, Apartment Drive US Price Gains; Retail Sinks

From Real Capital Analytics
The U.S. national rate of commercial property price growth rose in November at the fastest annual clip since the beginning of the pandemic on the back of continued strong industrial and apartment price gains. The US National All-Property Index increased 5.7% from a year ago, the latest RCA CPPI: US summary report shows. In the retail sector meanwhile, the slump in prices deepened.
December 11, 2020 / Economy

Central London Offices Come Back After Worst Ever Quarter

From Real Capital Analytics
Dealmaking for Central London offices froze in the second quarter of 2020 with the onset of the pandemic. Only 10 properties changed hands, making it the weakest quarter on record, worse even than the depths of the Global Financial Crisis.
December 8, 2020 / Economy

Today’s Recession Brought to You by the Letter K

From Real Capital Analytics
Every recession has a different impact on the performance of commercial real estate. This recession has the unique feature of savaging some sectors while boosting others. Given patterns of distress in the marketplace, the over or under performance of various property sectors in 2020 is likely to persist into 2021.
December 7, 2020 / Real Estate

Global Activity Tracker, Americas Fares Worst

From Real Capital Analytics
Into the final weeks of 2020, RCA’s tracking of global commercial real estate activity shows that the Americas region has been worst affected by the Covid-19 pandemic in the year so far.
December 4, 2020 / Real Estate, Economy

Liquidity Declines in 118 of 155 Global Markets in Q3 2020

From Real Capital Analytics
Market liquidity fell in 118 of 155 global commercial real estate markets in the third quarter of 2020, a widening swathe of liquidity declines than seen in the second quarter of the year, according to the latest update of the RCA Capital Liquidity Scores.
November 26, 2020 / Real Estate

Global Commercial Real Estate Price Growth Slips in Q3

From Real Capital Analytics
The global rate of commercial property price growth waned in the third quarter of 2020 as transaction activity continued to stumble amid the worldwide health crisis, the latest RCA CPPI Global Cities report shows.
November 24, 2020 / Economy

Chart: Top 10 Most Active US Markets Since 2009

From Real Capital Analytics
Dallas sits atop U.S. leader board for commercial property deal volume in the first nine months of 2020. Normally Manhattan would occupy the #1 position. Los Angeles has sometimes taken the top spot for shorter periods during times of market disruption in Manhattan, but Dallas has never topped the rankings for an extended period until 2020.
November 20, 2020 / Economy, Business

US Industrial, Apartment Prices March Higher, Retail Fades

From Real Capital Analytics
The U.S. national rate of commercial property price growth rose in October as the weight of capital into the high-flying apartment and industrial sectors boosted gains, the latest RCA CPPI: US summary report shows. The US National All-Property Index rose 3.6% from a year ago, the apartment index rose 7.2% and the industrial index 8.5%.
November 13, 2020 / Economy

Eyes on Life Sciences Sector Amid Covid, Market Reshaping

From Real Capital Analytics
The Covid-19 pandemic has accelerated structural trends that were already reshaping the global commercial property investment landscape. One of these trends is the continued shrinking of the investable universe, with a huge chunk of the retail sector now seen as uninvestable.
November 12, 2020 / Economy

Chart: Activity on Asia Pacific’s Busiest Capital Highways

From Real Capital Analytics
In the below chart we present the 25 biggest trade routes in Asia Pacific and illustrate how cross-border investment has behaved during this pandemic year. Novel capital flows, such as Austrian investors spending in China and Saudi players investing in Singapore, may be interesting from an anecdotal perspective, but market liquidity is ultimately driven by the most well traveled capital highways.
November 10, 2020 / Economy

These Are The Most Active Global Markets in 2020 So Far

From Real Capital Analytics
At the halfway point of 2020 there were a handful of top global metros that posted growth in deal activity versus the first half of 2019. One quarter on and there are no such positives in the list of the world’s largest metros. Seoul returned deal volume close to that of last year, but the market is still just in negative territory.
November 5, 2020 / Economy, Investing

No Q3 Comeback for Cross-Border Deal Activity in US

From Real Capital Analytics
Total U.S. investment activity improved to some degree in Q3 2020, with sales volume up more relative to Q2 2020 than normal seasonal patterns would suggest. Not so for cross-border investment. Deal volume for cross-border buyers edged lower in the third quarter.
November 3, 2020 / Economy

Chart: Global Activity Tracker, Reckoning at End of Q3

From Real Capital Analytics
At the end of the third quarter, the count and volume of deals across the three global zones has fallen back even further as the Covid-19 pandemic grinds on. In the Americas, deal volume through the end of September was 41% lower than the same point in 2019, and the deal count 34% lower.