Net-lease investment volume up 48% in 2021; Asana raises $1.5B for RE fund

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Net-lease investment volume totaled $32.4 billion in the 2021 fourth quarter, up 31% year on year, while total commercial real estate investment volume grew 93% to $322.3 billion over the same period, according to a CBRE report.

The industrial sector retained the largest market share among the three major commercial property types, accounting for 58.4% of the total investment volume, up from 53.8% a year earlier. The office sector market share grew to 27% from 25.8%, while the retail sector market share dropped to 14.5% from 20.4%.

Overall, net lease investment volume in 2021 grew by 48% to $92.1 billion. Total commercial real estate volume rose 90% to $797.8 billion.

Fundraising

* Asana Partners LP raised $1.5 billion in equity commitments at the close of Asana Partners Fund III. The vehicle will acquire and reposition mixed-use assets in U.S. urban markets.

* Cantor Fitzgerald LP and Silverstein Properties Inc. raised about $530 million for an opportunity zone fund, the New York Business Journal reported. The Cantor Silverstein Opportunity Zone Trust Inc. fund invests in diversified commercial real estate with a focus on multifamily properties in qualified opportunity zones across the U.S.

Property moves

* Blackstone Real Estate Advisors LP acquired a 49% stake in the 67-story One Manhattan West building in Manhattan, N.Y., from Brookfield Asset Management Inc. and Qatar Investment Authority. The deal values the 2.1 million-square-foot office tower at $2.85 billion.

* Carmel Partners Inc. is asking more than $500 million for its rental tower at 19 Dutch St. in Manhattan, The Real Deal reported. The 64-story, 483-unit tower spans 330,000 square feet.

* A Harbor Group International LLC affiliate acquired the 816-apartment ParkLine Miami towers from Florida East Coast Industries LLC, the South Florida Business Journal reported March 17. The two 30-story towers were purchased for between $400 million and $500 million, a source familiar with the matter told the news outlet.

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