LONDON—Transaction volume for private equity real estate rose slightly in the third quarter, but the value of those deals was lower, Preqin said Wednesday. Preliminary figures show that Q3 saw 1,170 deals worth a combined US$56 billion, compared to Q2's 1,147 transactions which totaled US$68 billion.
Smaller single-asset deals drove activity, as the quarter recorded fewer large portfolio deals than Q2. In fact, just three transactions valued at more than US$1 billion were completed during the quarter, while 60% of the deals announced were valued at less than US$50 million, up from US$56 million in the previous three months.
Almost three-quarters (73%) of capital was invested in single-asset deals, and they accounted for 86% of the number of transactions. In both cases, this is a record high over the past five quarters, according to Preqin.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
