The volume of real estate secondary transactions expanded in 2020, amid the COVID-19 pandemic. Landmark Partners, a longstanding investor in the real estate secondary market, tallied 114 real estate secondary transactions, representing approximately $8.5 billion of net asset value (NAV) that closed or were placed under contract in 2020.

Despite the sharp decline of transactional activities amid volatility in the broader capital markets early in the COVID-19 pandemic, secondary activities rebounded strongly later in the year, reports Landmark. A number of large fund and portfolio recapitalization transactions pushed full year transaction volume to $8.5 billion, eclipsing the prior record volume of $8.2 billion reached in 2015. Activities during 2020 represent an 18 percent increase from the $7.2 billion transacted in 2019 and puts the previous five-year average volume at $6.4 billion. The total number of transactions reached in 2020 is 114, down from 127 recorded in 2019.