The month of December had a myriad of sectors getting deals completed. But it seems like real estate and even entertainment and media were in the front of the pack as the most interesting of the biggest deals of the month. Read our analysis below for some more on December dealmaking.
Throughout 2022, real estate saw 125 deals for a deal value of 37.5 billion. The sector yielded $37.5 billion in deal value which represents 11 percent of the total middle market deal share according to data from Refinitiv. The media and entertainment category barely had half of the deal volume, value and percentage in comparison.
However, it is interesting to note the emergence of the media and entertainment sector within the month of December. The four deals highlighted in the December middle-market deals of the month total over $1 billion in deal value. Among the four deals include Los Angeles Rams’ owner Stan Kroenke’s Kroenke Arena Co LLC‘s $325 million deal to acquire The Village, an outdoor lifestyle destination in the San Fernando Valley of Los Angeles, and VICI Properties Inc.’s $293 million deal for acquired the real estate assets of the Fitz Casino & Hotel located in Tunica, Miss, and the WaterView Casino & Hotel, located in Vicksburg, Miss, from Foundation Gaming.
It appears that there may be some overlap among the most popular sectors in December. While real estate represents one of the sectors yielding the most deal value, it is also underrepresented. Dealmakers in the entertainment and media sectors are finding value within real estate. The three largest deals among the entertainment categories involve entertainment assets that revolved around a piece of real estate.
As gaming continues to gain popularity and legality in the United States, it is apparent that media and entertainment firms are investing in both the gaming and real estate markets.
Check out the full breakdown of December’s biggest middle-market deals here.
–Cole Lipsky
