Real estate secondaries have evolved from a niche liquidity tool into a mainstream portfolio management mechanism, with record transaction volumes and a rapidly expanding institutional ecosystem. However, questions remain as to whether the market can sustain disciplined pricing and efficient execution in a downturn and whether LPs view secondary sales as a standard portfolio management tool rather than a last resort.

Read the full article in PREA Quarterly here: https://www.preaquarterly-digital.com/preaquarterly/library/item/summer_2026/4349424/