After a prolonged period of growth over much of the past five years, Q2 2019 has seen a contraction in both the number and total value of private equity real estate (PERE) deals.

In the first quarter of the year, 2,308 deals were announced at a total value of $108bn. By contrast, Q2 recorded 1,963 deals worth a combined $89bn, Preqin said in its quarterly update