Inside the Vault- Page 7 of 88

Inside the Vault

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…

November 30, 2022

How many of the 14 continuously offered nontraded REIT programs reported increases in their respective net asset values per share in September 2022?

How many of the 14 continuously offered nontraded REIT programs reported increases in their respective net asset values per share in September 2022? Answer: Eight of the continuously offered nontraded REIT programs reported increases in their respective net asset values per share in September 2022, three reported no change, and three reported decreases for the…

November 22, 2022

Who are the major net lease tenants for ExchangeRight’s Net Lease Portfolio 56 DST program that recently raised $132 million?

Who are the major net lease tenants for ExchangeRight's Net Lease Portfolio 56 DST program that recently raised $132 million? Answer: The offering contains 33 net-leased properties diversified across 19 states throughout the United States. The portfolio features 13 distinct tenants, including Woods Supermarket, Family Dollar, and Scheels All Sports, with nine CVS Pharmacy locations…

November 16, 2022

How much capital did nontraded BDC programs raise in Q2 2022 from both public and private offerings?

How much capital did nontraded BDC programs raise in Q2 2022 from both public and private offerings? Answer: $8.144 billion, consisting of $5.545 billion from public offerings and $2.598 billion from private offerings. This was down 8.9% from the total $8.942 billion in Q1 2022 from both public and private offerings.