Led GIC and Oak Street Real Estate Capital’s $18.65bn private equity deal with STORE Capital, North America’s construction & real estate industry saw a drop of 41.33% in cross border deal activity during Q3 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 33 cross border deals worth $20.4bn were announced for the region during Q3 2022, against the last four-quarter average of 56.25 deals.
Of all the deal types, M&A saw most activity in Q3 2022 with 18 deals, representing a 54.6% share for the region.
In second place was venture financing with ten deals, followed by private equity deals with five transactions, respectively capturing a 30.3% and 15.2% share of the overall cross border deal activity for the quarter.
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In terms of value of cross border deals, private equity was the leading category in North America’s construction & real estate industry with $18.83bn, while M&A and venture financing deals totalled $1.3bn and $279.34m, respectively.
North America construction & real estate industry cross border deals in Q3 2022: Top deals
The top five construction & real estate cross border deals accounted for a 96.5% share of the overall value during Q3 2022.
The combined value of the top five cross border deals stood at $19.69bn, against the overall value of $20.4bn recorded for the quarter.
1) GIC and Oak Street Real Estate Capital’s $18.65bn private equity deal with STORE Capital
2) The $687.23m acquisition of IBI Group by Arcadis
3) Slate North American Essential Real Estate Income Fund’s $180m private equity deal with Slate Grocery REIT
4) The $125m private equity of Landing Platform by Delta-v Capital , Foundry Group and Greycroft Ventures
5) 2150 UK’s $48.02m venture financing deal with SHPE Living