S&P Global Market Intelligence offers our top picks of real estate news stories published throughout the week.

Note: The Week In Real Estate will not publish Friday, Dec. 30. Your next issue will be Friday, Jan. 6.

About 31.9% of all home purchases in the U.S. were paid for with all cash in October, compared to 29.9% a year earlier, Redfin Corp. data showed.

This is the highest share Redfin has recorded since 2014.

The surge in all-cash transactions was due to high mortgage rates pushing buyers to avoid loans and high monthly interest payments. During the pandemic housing boom, many buyers also used cash to purchase homes, but that was to take advantage of low rates and all-cash offers became effective bargaining chip for affluent buyers, said Redfin Economics Research Lead Chen Zhao.

All-cash home acquisitions, which means there is no mortgage loan information on the deed, were up in 29 of the 39 metros analyzed by Redfin from October 2021 to October 2022. Riverside, Calif., recorded the highest jump in all-cash purchases at 38% of all home sales, up from 19.2%. All-cash purchases were most common in Florida in October.

CHART OF THE WEEK: US equity REITs' ATM offering proceeds up in Q3

⮞ Thirty-nine REITs utilized their at-the-market offering programs during the third quarter, raising $4.26 billion in aggregate, a 12% increase compared to the $3.80 billion raised in the second quarter, according to data compiled by S&P Global Market Intelligence.

⮞ The third-quarter proceeds represent a 36% decline from the record-breaking $6.67 billion raised during the third quarter of 2021.

⮞ Welltower Inc. raised the most capital through its ATM program in the quarter.

Deal completions

* Simon Property Group Inc. completed the acquisition of a 50% interest in Jamestown LP, a global real estate investment and management firm. Jamestown, which has over $13 billion in assets under management as of June 30, will operate independently and continue to be led by CEO Matt Bronfman and President Michael Phillips, who will retain their existing ownership.

* Rayonier Inc. closed the acquisition of commercial timberlands from Manulife Investment Management for an aggregate purchase price of about $454 million, after customary purchase price adjustments at closing. The transaction comprises approximately 137,800 acres in Texas, Georgia, Alabama and Louisiana.

Buy and sell

* JBG Smith Properties sold The Gale Eckington multifamily property in Washington, D.C., to its affordable housing affiliate, the Washington Housing Initiative, and Jonathan Rose Cos., for roughly $215.6 million, the Washington Business Journal reported, citing the D.C. Recorder of Deeds. The property is located at 151 Q St. NE and features 603 units.

* MG Properties Group and Rockwood Capital Advisors LLC purchased the 379-unit Domain San Diego multifamily community in San Diego for $184.6 million, Multi-Housing News reported. Magnolia Capital Management Co. Inc. was the seller.

* Empire State Realty Trust Inc. acquired a New York mixed-use property for $114.9 million, The Real Deal reported. Broad Street Development LLC and a real estate fund connected to Crow Holdings Capital sold seven-story 298 Mulberry St. in Noho.

Data Dispatch: Real estate-focused private equity fundraising falls in 2022