NTR Sales Flat in September While BDC Sales Fall 19%

October 13, 2017 | James Sprow | Blue Vault

Sales by nontraded REITs were relatively flat in September compared to August. September sales of $282.2 million reported to Blue Vault by nontraded REIT sponsors were almost unchanged from $288.9 million in August. September sales were 21% below the trailing six-month average for nontraded REIT sales of $357.6 million.  This year the average monthly sales for NTRs in June through September was $292.2 million compared to the average sales for March through May of $419.8 million.

BDC sales reported in September were $48.7 million, down from $57.4 million in August, and below the $65.4 million trailing six-month average for BDCs.

“Capital raise among nontraded REITs and BDCs remain cold.  I see no change of course occurring until 2018.  Then, we’ll see.  Other alts continue to gain steam,” says Blue Vault’s Stacy Chitty.  

The five leading sponsors in REIT capital raise in September were:

·      Blackstone                  $136.3 million
·      Carter Validus             $46.7 million
·      Griffin Capital             $25.0 million
·      Cole Capital                 $22.0 million
·      Hines Securities          $10.8 million

Leading sponsors in the BDC sector for September sales were FS Investments ($19.4 million) and Owl Rock Capital Advisors ($9.0 million). Hines Securities and CION Investments both booked $5.3 million in BDC sales for the month.

Blue Vault is the leading alternative investment research firm in the independent Broker Dealer industry, covering nontraded REITs, BDCs, Interval Funds, Closed-End Funds, and Private Placement Offerings.