There are signs of life in the family office real estate deal market, according to PwC’s Global Family Office Deals Study 2024. The study found that both the volume and the value of family office real estate deals peaked at the end of 2021. And although volume has remained flat, deal values have started trending up again, which could signal a recovery.
Real estate investments made up 30% of all family office deals in the first half of 2024, according to the report, up from 19% in early 2022. This is likely because all types of family office deals have declined, making real estate a larger percentage of those that do take place.
Other findings from the study:
- The majority of real estate deals made by family offices are under $25 million — a statistic that has been true in almost all recent years.
- The most common types of property involved in real estate deals when analyzed by the amount of money family offices invested: development sites, retail, and apartments. When ranked by deal volume, the most common property types are retail, apartments, and industrial.
- The United States is by far the leading country for family office property investments, significantly ahead of other countries in both deal volume and deal value.
Family offices prefer to invest alone: With occasional exceptions, under 20% of family office real estate investments in the past decade were club deals.
