The immediate impact of 2016's Brexit vote on private equity real estate investing in the second half of the year carried over into 2017, with reciprocal effects in mainland Europe. The first half of 2017 saw 201 deals closed, down from 315 and 302 in the first six months of 2016 and 2015, respectively. Continental Europe saw about 500 deals close between January and June 2017, as compared to about 400 halfway through 2016 and about 300 at 2015's midpoint.
Aggregate deal values in the U.K. were about $17 billion in the first half of 2017, close to 2016's $18 billion in first-half deals. European deals were estimated at $41 in the first half of the year, up from $19 billion year-to-date June 30, 2016. Europe's deal value number got a boost in June after Blackstone sold an industrial property to China Investment Corp. for 12.25 billion euros.