Private equity/venture capital-backed real estate investments year to date totaled $4.9 billion through the end of May vs. $6.6 billion in the year-earlier period, according to data provided by S&P Global Market Intelligence.
There were $15.6 billion in transactions for all of 2023, down from $73 billion and $26.8 billion in 2021 and 2022, respectively.
The number of deals completed during the first five months was 87. For the first half of 2023, there were 156 investments with a $7.1 billion transaction value.
Investments in real estate operating companies dominated this year. There were 39 transactions valued at $3.6 billion. Hotels, resorts and cruise lines totaled $604 million.
The U.S. and Canada led the way this year. The region had 25 investments valued at $2.6 billion. Europe followed with 39 deals worth $1.3 billion.
