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 …
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What percentage of the REIT’s aggregate NAV at Ares Industrial REIT were redeemed in Q4 2022? Answer: According to filings with the SEC, approximately 2.43% of the Ares Industrial REIT’s aggregate NAV were redeemed in Q4 2022.
Which continuously offered nontraded REIT had the highest distribution yield as of December 2022? Answer: The continuously offered nontraded REIT which had the highest distribution yield was FS Credit Real Estate Income Trust, Inc. The distribution yield for Class I shares for FS Credit Real Estate Income Trust, Inc. was 7.10% based upon the REIT’s …
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How much capital did interval funds raise through the first three quarters of 2022 compared to all of 2021? Answer: All interval funds raised $22.2 billion through the first three quarters of 2022 compared to $21.9 billion for all of 2021.
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 …
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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.
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.
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.
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 …
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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 …
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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 …
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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.
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 …
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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 …
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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 …
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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.
What was the weighted average interest rate on the $128.3 billion total debt owed by all nontraded REITs as of June 30, 2022? Answer: The weighted average interest rate on the total debt of nontraded REITs as of June 30, 2022, was 3.53%. Approximately 51% of that debt was at fixed interest rates.
What was the total notional value of interest rate swaps and interest rate caps on the books of nontraded REITs as of June 30, 2022? Answer: $58.5 billion in notional value of swaps and caps on total debt of $128.3 billion as of June 30, 2022.
What percentage of total assets held by nontraded REITs as of June 30, 2022, were held by Blackstone Real Estate Income Trust? Answer: 56.4% of all NTR assets were held by Blackstone Real Estate Income Trust as of June 30, 2022.
What is the newest nontraded REIT program? Answer: J. P. Morgan Real Estate Income Trust, Inc.
Which listed REIT which was originally a nontraded REIT program will merge with a Blackstone affiliate for $24.25 in the second half of 2022? Answer: Bluerock Residential Growth REIT (“BRG”) will merge with an affiliate of Blackstone Inc. The merger proposal was approved by BRG shareholders. The stock traded at less than $12.00 per …
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Which nontraded BDC raised $224.4 million in capital in August 2022? Answer: Blue Owl Capital Inc. (formerly Owl Rock Capital Advisors) raised $224.4 for Owl Rock Core Income Corp. in August 2022.
Which nontraded REITs raised the most capital in Q2 2022? Answer: The top six nontraded REITs raising capital in Q2 2022 were: Blackstone REIT, Starwood REIT, FS Credit Real Estate Income Trust, Nuveen Global Cities REIT, Hines Global Income Trust and Ares Industrial REIT. Blackstone raised $6.67 billion, including DRIP proceeds. Starwood REIT raised $1.8 …
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According to the recent Cerulli Associates survey of financial advisors, what factor had the highest response rate for the question “What factor would drive increased alternative allocations”? Answer: 59% of respondents cited “Enhanced liquidity of alternative investments” as a factor that would drive increased alternatives allocations, the top choice.
According to the recent white paper by Cerulli Associates in partnership with Blue Vault, what was the total assets in Nontraded REITs, Interval Funds, Nontraded BDCs and Tender Offer Funds in 2021? Answer: $344.8 billion
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