LONDON, U.K. — North America’s construction and real estate industry saw a rise of 5.4 per cent in overall deal activity during Q3 2019, when compared to the four-quarter average, reports GlobalData’s deals database.
A total of 236 deals worth $25.26 billion were announced for the region during Q3 2019, against the last four-quarter average of 224 deals.
Mergers and acquisitions (M&A) saw the most activity in Q3 2019 with 177, representing a 75 per cent share for the region, followed by venture financing with 31 deals, private equity deals with 28 transactions, capturing a 13.1 per cent and 11.9 per cent share respectively of the overall deal activity for the quarter, indicates the GlobalData release.
M&A was the leading category in North America’s construction and real estate industry with $14.89 billion, private equity totalled $9.56 billion and venture financing deals totalled $816.87 million.
The top five construction and real estate deals — which had a combined value of $15.77 billion against the overall value of $25.26 billion for the quarter — accounted for 62.4 per cent of the overall value during Q3 2019.
The top five deals of the quarter tracked by GlobalData were:
- The Blackstone Group’s $4.66 billion private equity deal with Dream Global Real Estate Investment Trust;
- The $3.99 billion acquisition of Industrial Property Trust by Prologis;
- J2 Acquisition’s $2.9 billion acquisition of APi Group;
- The $2.46 billion private equity deal with 407 International by The CPP Investment Board; and
- Great Pacific Capital’s acquisition of Canfor for $1.76 billion.