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- March 1, 2018: Vol. 30, Number 3

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Real estate secondary volume increases year-over-year

by Jody Barhanovich

Real estate secondary transactions representing an aggregate of $6 billion of net asset value were closed or placed under contract in 2017, according to Landmark Partners, which tracked 108 transactions last year. These figures constitute the largest number of transactions and the second-highest dollar volume recorded in a single year since Landmark commenced tracking real estate secondary activity.

The total number of transactions climbed 10 percent in 2017, highlighting the continued broadening base of limited partners and fund sponsors using the secondary market to manage legacy real estate fund portfolios, property portfolios and fund businesses.

The $6 billion total volume represents a 20 percent increase from the $5 billion transacted in 2016, although below the $8.2 billion peak achieved in 2015. This past year saw the return of portfolio transactions in excess of $1 billion, a significant increase in activity from endowments reducing legacy fund portfolios, and

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