Real estate secondaries volume reached a record $20bn in 2025

February 19, 2026 - 05:42

The market for real estate secondaries has reached an unprecedented milestone, with transaction volumes soaring to a record $20 billion in 2025. This surge highlights a fundamental shift in the private real estate landscape as investors seek liquidity and portfolio rebalancing opportunities.

Industry analysts report that this record-breaking activity is primarily driven by constrained distributions from traditional real estate funds. With capital calls continuing but exits slowing, institutional investors are increasingly turning to the secondary market to manage their exposures and free up capital. This trend is transforming the sector from a niche alternative into a mainstream liquidity solution.

Looking ahead, experts predict this vigorous growth is not a peak but a precursor to further expansion. Current projections suggest the volume of deals in the real estate secondaries market has the potential to double over the next several years. The sustained pressure for liquidity, coupled with a growing acceptance of secondary transactions as a strategic tool, is expected to fuel this continued ascent, reshaping investment strategies across the global real estate industry.