United States Capital Markets Report

2Q 2021
Newmark Research presents the second quarter 2021 United States Capital Markets Report.

Investment volume in 2Q21 increased 175.6% year-over-year to $144.7 billion, with activity improving markedly across all property types.
Investor allocation to alternative product types, such as life science and data centers, remains high at 14% of total investment in 1H21.
The amount of dry powder accumulated by North America-focused closed end real estate funds has risen to a record high $234 billion in 2Q21.
NCREIF annualized total returns reached 7.4% in 2Q21, reflecting the positive momentum across all property types as the recovery from the pandemic accelerates.
Immense demand for institutional-quality industrial warehouse product has led to an average 28 basis points of cap rate compression in the US, year-over-year.