investors spent $3.8 billion on investment properties in the Houston area in the third quarter, a sharp decline from the same period a year earlier. The decline in the overall value of transactions, down 47 percent from the year-earlier, fell across most property categories, according to Real Capital Analytics, a research firm that tracks commercial property transactions.
* Office: Local third-quarter investments totaled $500 million, down 56 percent from the year-ago period.
* Hospitality: Local hotel investments were an exception, totaling $200 million in the quarter, nearly double the amount from the third quarter of 2018.
* Multi-Family: The value of apartment deals transacted in the quarter fell by 40 percent year over year to $1.5 billion in the Houston region in the third quarter. Even with the decline, multifamily properties were still the top choice of investors, making up nearly 40 percent of the local sales activity.
* Industrial: Locally, sales of Houston area industrial properties totaled $900 million in the third quarter, down 13 percent from a year earlier.
* Retail: The value of year-over-year sales of local retail properties dropped by 85 percent to $300 million.
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