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

The availability of retail properties in the US fell to a 4.8% record low in the first quarter, CBRE Group Inc. said in a report.

Power centers logged the biggest annual decline in availability to 5.2% from 6.1%, according to the commercial real estate services firm's "Q1 2023 US Retail Figures" report. The availability rate of neighborhood, community and strip centers was down to 6.8% year over year, while lifestyle and mall properties dropped to 6%.

Retail absorption slipped 47% quarter over quarter to 8.6 million square feet in the first three months of 2023, the lowest total since the third quarter of 2020.

Rental growth stood at 2% in the first quarter, down 50 basis points year over year, although it remained above the 1.7% 10-year average. Rents at neighborhood, community and strip center properties were up 2.7% annually, while those for the lifestyle and mall space, as well as the power center segment, were intact.

CHART OF THE WEEK: REIT at-the-market program usage rises sequentially

⮞ US real estate investment trusts raised $6 billion through at-the-market common stock offering programs in the last three months of 2022, up 40.9% sequentially. However, the capital raised reflects a 9.9% drop from the $6.66 billion pulled in during the same period in 2021.

⮞ Realty Income Corp. raised the most capital in the fourth quarter of 2022 with almost $2.18 billion in gross proceeds.

⮞ Welltower Inc. came in second with $1.49 billion in gross proceeds.

Funds in focus

– Continental Realty Corp. secured $240 million at the close of its Continental Realty Opportunistic Retail Fund, a private equity vehicle that seeks to buy distressed retail centers across the US, the Baltimore Business Journal reported.

– Velocis LLC raised more than $170 million in capital commitments for its Velocis Secondary Partners III fund, the Commercial Observer reported.

Property transactions

– The Carlyle Group Inc. partnered with Stonehenge Management LLC to buy the 196-unit RiverEast rental tower at 408 E. 92nd St. on New York City's Upper East Side from the real estate management arm of UBS for $114 million, The Real Deal reported, citing public records.

– Sand Associates sold an office building in Manhattan, NY, to New York University for $97.5 million, The Real Deal reported, citing property records. The 120,000-square-foot property at 400 Lafayette St. will be used as swing space for the university's faculty and administrative offices, according to the report.

Bed Bath & Beyond files for bankruptcy; 12 REITs report it as top tenant

Canadian REIT capital market activity recovers QOQ in Q1 2023

REIT Replay: Share price for Peakstone Realty surges since trading debut