It broke the record in 2Q07.
According to Colliers International, private property investment sales value saw a quantum leap in the three months between July and September 2013. Sales swelled by 101.2% QoQ from the $5.05 billion chalked up in the preceding three months to reach a record $10.16 billion, outstripping the previous high of $9.79 billion amassed in 2Q 2007 by 3.8%.
Fuelling the spike in private investment sales were the successful IPOs of three REITs comprising SPH REIT (a retail REIT), OUE Hospitality Trust (a hospitality stapled group including OUE Hospitality REIT and OUE Hospitality Business Trust) and Soilbuild Business Space REIT (an industrial REIT).
Collectively, the properties in their initial property portfolios were transacted at $5.68 billion, accounting for some 55.9% of the quarter’s total private investment sales.
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