More than US$23.4 billion worth of global real estate secondaries transactions closed in 2023 — significantly greater than existing market consensus estimates of roughly US$10 billion — according to a new artificial intelligence–enhanced data capture methodology developed by CBRE Investment Management (CBRE IM).

CBRE IM’s enhanced process combines refined AI data capture techniques with proprietary in-house data logs and partial interest transactions to reveal a more accurate picture of the size of the global real estate secondaries market than using existing data capture protocols. The new methodology found global secondaries transaction activity reached more than US$16.4 billion during the first three quarters 2024.

CBRE IM will soon release its fourth quarter and 2024 calendar year global secondaries transaction volume estimates, along with a white paper outlining the methodology.

CBRE IM’s methodology combines data sourced in three distinct ways: