North America's construction and real estate industry saw a drop of 8.4 percent in overall deal activity during second quarter 2019, when compared to the four-quarter average, according to GlobalData, a leading data and analytics company.
A total of 207 deals worth $4.21 billion were announced for the region during second quarter 2019, against the past four-quarter average of 226 deals.
Of all the deal types, mergers and acquisitions saw the most activity in second quarter 2019, with 159 deals, representing a 76.8 percent share for the region.
In second place was venture financing, with 26 deals, followed by private equity deals, with 22 transactions, capturing a 12.6 percent and 10.6 percent share, respectively,
of the overall deal activity for the quarter.
In terms of deal value, M&A was also the leading category in North America's construction and real estate industry, with $3.69 billion, while venture financing and private equity deals totaled $448.66 million and $75 million, respectively.
North America construction and real estate industry deals in Q2 2019: Top deals
The top five construction and real estate deals accounted for 90.6 percent of the overall value during second quarter 2019.
The combined value of the top five construction and real estate deals stood at $3.82 bilion, against the overall value of $4.21 billion recorded for the quarter. The top announced construction and real estate deal tracked by GlobalData in second quarter 2019 was Park Hotels & Resorts’ $2.7 billion acquisition of Chesapeake Lodging Trust.
In second place was a $487 million asset transaction by H.I.G. Realty Partners, and in third place was FirstService's $376.58 million acquisition of Global Restoration Holdings.
The $160 million venture financing of Lyric Hospitality by Adam Bain, Airbnb, Barry Sternlicht, Dick Costolo, New Enterprise Associates, Obvious Ventures, RXR Realty, SignalFire Management Services, Sinewave Ventures, Tishman Speyer Properties and Tusk Ventures held fourth position, while the fifth position was held by Global Medical REIT's asset transaction with CNL Healthcare Trust for $94 million.
