At mid-year 2018, commercial real estate investment sales volume established a new, six month record of $3.09 billion. This boost in sales volume was led by eight mega-transactions tallying at more than $100 million apiece. The largest transaction was the purchase of the $1.1 billion Grand Wailea Resort which was acquired by BRE Iconic Holdings (Blackstone Group LP) from GWR Wailea Property LLC (GIC – Government of Singapore) in April 2018. This deal resulted in a four-year, 42% gain for GIC, which had purchased the Grand Wailea Resort for $774 million in 2014.