Sales of small commercial properties dip, but remain on pace for a record year

SOURCE: Mortgage News Feed

After a fast start to the year, sales of small commercial properties showed signs of slowing down this fall, although they still remain on course for a record year, Boxwood Means reported. Transactions involving commercial and multifamily assets valued under $5 million declined to $6.8 billion in October, down 9.6 percent from September. Sales of small-cap commercial properties have tapered off over the four months ending in October, to an average volume of $7.5 billion, since peaking in June at $8.8 billion. Also, in an otherwise strong quarter overall for small-cap loan volume, originations under $1 million — which includes purchase and refinance loans — slowed to a total of $13.1 billion in the third quarter, down 4.5 percent year over year, Boxwood Means said. These loans accounted for 28 percent of the originations in the small-cap market. Read Full Article Here >>

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