40 Nontraded REITs (56% of NTRs) were classified as Maturing according to Blue Vault’s LifeStage™ classification at December 31, 2015.
A Maturing LifeStage™ is classified as follows:
- The REIT is closed.
- Assets Under Management are usually greater than $500 Million
- 4 – 8 years have passed since the initial effective date
- Owns 30+ Properties/Investments
- MFFO payout ration is 90%-200%
- Debt to Total Assets Ratio is 25%-55%
- Interest Coverage Ratio is 1.5-3.0X
- Refined geographic, industry, and asset diversification
