CALABASAS, CA—The unexpected outcome of the presidential election may lead to a reduction in fourth-quarter transaction activity as commercial real estate investors take stock, says Marcus & Millichap in a special report. That’s in contrast to the final three months of 2015, when Q4 investment sales hit a post-recession high.
“A rapid 60-basis-point increase in the yield on the US 10-year Treasury followed the election, combining with expectations of changes to the tax code in 2017 to inspire many commercial real estate investors to step back and reassess their strategies,” the report states. “Some transactions that were targeting a 2016 close will likely be delayed or canceled as investors and lenders recalibrate their underwriting assumptions.”
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