In-Depth: Secondary markets address the needs of investors and portfolios
In January, Landmark Partners released its annual tally of secondary interest transactions. The firm tracked $3.7 billion of closed transactions in the global market for secondary interests in real estate limited partnerships during 2013, representing the fifth straight year of record transaction volume.
The secondary market is growing and is expected to continue to grow, says R. Paul Mehlman, a partner at Landmark Partners. The market will be driven by the large base of private real estate assets now in place in institutional investors’ portfolios and the potential for higher turnover as limited partners continue to gain comfort with utilizing the secondary market to address portfolio management needs.
"We look at the 'seasoned' net asset valuein