Inside the Vault- Page 10 of 91

Inside the Vault

February 8, 2023

December 2022 saw the first median decrease for the 15 continuously offered nontraded REITs since March 2020. What was the median decrease in the NAVs per share for the 15 NAV REITs?

December 2022 saw the first median decrease for the 15 continuously offered nontraded REITs since March 2020. What was the median decrease in the NAVs per share for the 15 NAV REITs? Answer: The median decrease in the NAVs of the 15 continuously offered NAV REITs in December 2022 was 0.95%. The last month that…

February 1, 2023

Which interval fund had $14.3 billion in total assets as of September 30, 2022, the most assets among all interval funds?

Which interval fund had $14.3 billion in total assets as of September 30, 2022, the most assets among all interval funds? Answer: Cliffwater Corporate Lending Fund had $14.3 billion in total assets as of September 30, 2022, the most assets among all interval funds.

January 25, 2023

Of the 11 nontraded REITs that reported sales to Blue Vault for November 2022, which raised the most capital via sales of shares for the month?

Of the 11 nontraded REITs that reported sales to Blue Vault for November 2022, which raised the most capital via sales of shares for the month? Answer: FS Credit Real Estate Income Trust raised the most capital with $65.59 million in November 2022 via common share issuances.

January 18, 2023

By what percentage did the Cottonwood Communities estimated NAV per share increase between November 30, 2021, and February 28, 2022?

By what percentage did the Cottonwood Communities estimated NAV per share increase between November 30, 2021, and February 28, 2022? Answer: The estimated NAV increased from $16.9316 to $18.9882, an increase of 12.15% in three months.

January 11, 2023

How were monthly total returns on nontraded REIT shares correlated with total returns on the S&P 500 index over the past 35 months?

How were monthly total returns on nontraded REIT shares correlated with total returns on the S&P 500 index over the past 35 months? Answer: The correlation between the median monthly total returns on the continuously offered nontraded REIT shares (NAV REITs) and the S&P 500 index total returns was just 0.02. This is a statistically…

January 5, 2023

Which continuously offered nontraded NAV REIT had the highest monthly standard deviation of monthly returns over the past 35 months?

Which continuously offered nontraded NAV REIT had the highest monthly standard deviation of monthly returns over the past 35 months? Answer: Ares Industrial REIT had the highest standard deviation of monthly total returns from January 2021 thru November 2022, at 1.89%. This compares favorably to the standard deviation of monthly returns on the S&P 500…

January 4, 2023

What property could be the first real estate acquisition by J. P. Morgan Real Estate Income Trust, Inc., the newest continuously offered nontraded REIT program?

What property could be the first real estate acquisition by J. P. Morgan Real Estate Income Trust, Inc., the newest continuously offered nontraded REIT program? Answer: On June 23, 2022, the Company entered into a purchase agreement to acquire a 9.7-acre industrial outdoor storage site located in Levittown, Pennsylvania for an aggregate purchase price of…

December 13, 2022

Of the $128.3 billion in debt on NTR books as of Q2 2022, how much had interest rate swaps to convert variable rate debt to fixed rate debt?

Of the $128.3 billion in debt on NTR books as of Q2 2022, how much had interest rate swaps to convert variable rate debt to fixed rate debt? Answer: There were swaps with at total notional value of $30.1 billion on the books of all nontraded REITs as of June 30, 2022.

December 7, 2022

When did the yield on 3-month Treasury bills recently exceed the yield on 10-year Treasury notes, a potential sign of an impending recession?

When did the yield on 3-month Treasury bills recently exceed the yield on 10-year Treasury notes, a potential sign of an impending recession? Answer: On October 25, 2022, the yield on 3-month Treasury bills rose above the yield on 10-year Treasury notes (4.14% vs. 4.10%, respectively). This 3-month/10-year inverted yield curve has indicated a coming…