Sales of apartments and industrial buildings in North Texas helped make Dallas-Fort Worth the county’s top real estate investment market in the first quarter.
Investors acquired nearly $13 billion worth of properties, more than double the investment volume in the first quarter of 2021, according to new research from Newmark Group.
New York and Los Angeles followed D-FW as the top US real estate investment markets.
Nationally, $170.8 billion in transactions were recorded, a year-over-year increase of 55.6%.
“This represents the largest volume recorded in the first quarter, surpassing the first quarter of 2007,” Newmark analysts said in the new report. “Investor demand has started to normalize in the property types most affected by the pandemic, namely retail, hospitality and office, while multifamily remains the most sought-after property type, registering $63 billion in the first quarter of 2022.”
The D-FW area led the country in first quarter apartment sales. More than $29 billion worth of apartments changed hands in the 12 months to March, according to the CBRE group.
Among North Texas’ biggest sales in the first quarter were the Richards Group office tower on the North Central Expressway, the 40-story Bryan Tower in downtown Dallas, and the 50-story Trammell Crow Center in downtown Dallas. -city.
Several major industrial building portfolios also changed hands.
North Texas was the nation’s largest real estate investment market in 2021 with nearly $47 billion in sales.
Real estate investment activity in the D-FW region more than doubled in the past year, according to a report by Real Capital Analytics. Most of the purchases were for industrial buildings and apartments.