U.S. REIT Mergers & Acquisitions

In 2019, completed and pending mergers and acquisitions of U.S. REITs declined to $25.9 billion, from $78.3 billion in 2018, a year which saw the acquisitions of GGP and Forest City Realty Trust by Brookfield Asset Management. The 2019 total represented the lowest aggregate deal value since 2014. Of that activity, $22.5 billion (87%) resulted from REIT-to-REIT deals, on par with the 10-year average of $23.3 billion, while $1.3 billion (13%) resulted from acquisitions of REITs by non-REITs, down from the 10-year average of $8.4 billion.

Data on REIT mergers and acquisitions are posted on a monthly basis in REITWatch.


Get Nareit Market Commentary blog posts delivered straight to your inbox.


The Market Commentary blog on reit.com presents analysis of the macro- and micro-economic fundamentals impacting the REIT and commercial real estate industry. The Nareit economics team offers their commentary on the state of the market, the outlook for commercial real estate and breaking macroeconomic news. The opinions set forth here are solely those of its author(s), and do not necessarily reflect the views of the Nareit or its membership. For more, see our Terms of Use.