Real Estate/REITs Dealtracker: Q2 2026

The sector activity rose consistently over the last three quarters, recording 39 deals worth USD 2.3 billion. Deal activity was primarily driven by M&A transactions (56% of total volumes), followed by PE investments at 34%, while IPOs and QIPs each contributed 5%. In terms of value, PE emerged as the dominant contributor, accounting for half of the total deal value, supported by larger transaction sizes.

M&A activity reached a record high of 22 deals in Q2 2026, while deal value increased 10% q-o-q. Despite the rise in activity, transaction sizes remained modest, with only one deal exceeding USD 100 million, while the rest of the transactions were valued below USD 50 million or had undisclosed deal values, reflecting continued consolidation through small and mid-sized acquisitions.

Private equity activity remained steady at 13 deals, while deal values surged 153% q-o-q, supported by four large-scale investments (≥USD 100 million) worth a combined USD 970 million, resulting in a significant increase in average deal size from USD 35 million to USD 89 million. The growth refelcts improved investor sentiment and higher capital commitments during the quarter.

Public markets witnessed a sharp increase in Q2 2026, after a subdued previous quarter with two IPOs and two QIPs raising a combined USD 782 million. Bagmane Prime Office REIT led IPO activity with a USD 355 million issuance, while Brookfield India Real Estate Trust and Bagmane Prime Offices REIT drove QIP fundraising with issuances.