Which is the only nontraded REIT that has ever invested solely in timberlands and had a full-cycle event in 2015? Answer: CatchMark Timber REIT (previously Wells Timberland REIT) listed its shares in 2015 and was acquired by Potlatch Deltic Corporation in Q2 2023.
Which nontraded REIT raised a majority of its capital via the issuance of preferred stock in Q2 2023? Answer: Cottonwood Communities raised $27.5 million of net proceeds from the sale of Series 2023 Preferred Stock. It raised $7.3 million of net proceeds from the sale of common stock issued under its follow-on offering.
How many full-cycle events for nontraded REITs are documented in the upcoming 8th Edition Blue Vault Nontraded REIT Full-Cycle Performance Study? Answer: The 8th Edition of the Blue Vault Nontraded REIT Full-Cycle Performance Study documents investor returns for 91 full-cycle nontraded REIT programs.
The five continuously offered nontraded REIT programs with the highest total returns for the month of July 2023 were led by Blackstone REIT, followed by FS Credit Real Estate Income Trust. The median total return for all 16 continuously offered nontraded REITs in July was 0.21%.
What was Blackstone’s Floating Rate Enhanced Income Fund Class I annualized distribution rate as of March 31, 2023? Answer: The fund’s annualized distribution rate for Class I shares was 9.76% as of March 31, 2023.
Since 2012 in the nontraded BDC industry, how many quarters did total public industry capital raise exceed $2 billion? Answer As of March 31, 2023, there have been six quarters where total public industry capital raise has exceeded $2 billion, with all six coming in the most recent quarters. Industry public capital raise hit its …
What was the total size of the nontraded BDC industry in terms of total assets as of March 31, 2023? Answer: The nontraded BDC industry reported total assets of approximately $89.0 billion as of March 31, 2023, up from $86.7 billion as of December 31, 2022, and $60.7 billion as of March 31, 2022.
Of the eighteen nontraded BDCs covered by Blue Vault, how many reported a total return greater than 3% in the first quarter of 2023? Answer: Six nontraded BDCs reported total returns in excess of 3% in the first quarter, led by Apollo Debt Solutions BDC with an average return of 4.82% and BlackRock Private Credit …
Which nontraded REITs had the top five distribution yields for REITs with closed offerings as of March 31, 2023? Answer: The five REITs with the highest distribution yields among the closed REITs as of March 31, 2023, were Lightstone Value Plus REIT I, Procaccianti Hotel REIT, InPoint Commercial RE Income, SmartStop Self Storage REIT, and …
How has the amount of debt outstanding in the interval fund industry changed from March 31, 2022, to March 31, 2023? Answer: The amount of debt outstanding in the interval fund industry has increased from approximately $6.0 billion as of March 31, 2022, to $8.8 billion as of March 31, 2023, an increase of approximately …
How many interval funds reported total assets of at least $1 billion as of March 31, 2023? Answer: Sixteen funds reported assets in excess of $1 billion as of March 31, 2023, making up approximately 83.3% of the industry total. Cliffwater Corporate Lending Fund led the industry at $15.1 billion, followed by ACAP Strategic Fund …
What percentage of the total assets held by 44 nontraded REITs as of March 31, 2023, were held by the largest five REITs, in terms of assets? Answer: Approximately 80.1% of the total assets held by 44 nontraded REITs as of March 31, 2023, ($236.4 billion) were held by the largest five REITs ($189.3 billion).
Which nontraded REIT raised $284.5 million through its offering in Q1 2023, including reinvested distributions, for second place among all NTRs with open offerings in the quarter? Answer: JLL Income Property Trust ranked second among nontraded REITs raising capital in Q1 2023, with $284.5 million in total proceeds from its offering, including DRIP proceeds.
Which active nontraded REIT lists 87 Medical Office properties in its property portfolio as of March 31, 2023? Answer: Sila Realty Trust, Inc. listed 87 Medical Office properties, 22 Inpatient properties, 18 Rehabilitation properties, and 4 Healthcare properties in their portfolio as of March 31, 2023.
In the property-level data for all active nontraded REITs, which types have the highest property counts? Answer: The highest number of property types in the NTR data are: Single Tenant (476), Multifamily (438), Medical Office (314), Self Storage (238), Industrial (208), Warehouse/Distribution Center (199), and Healthcare (190). Single family rentals are included as 27 portfolios …
What were the total equity sales by FS Credit Real Estate Income Trust, a nontraded REIT, through the first four months of 2023? Answer: The REIT raised $319.5 million in the first four months of 2023, including proceeds from DRIP.
Which Interval Fund reported sales of $113.3 million in March and $51.6 million in April, the most of any Interval Fund that reported sales to Blue Vault for those months? Answer: Bluerock Total Income+ Real Estate Fund reported sales of $113.3 million in March and $51.6 million in April, the most of any Interval Fund …
Which nontraded BDC raised the most capital in April 2023? Answer: Owl Rock Core Income Corp., a nontraded BDC, booked equity sales of $260.6 million in April 2023.
How did the capital raised by nontraded REITs in Q4 2022 compare to the amount raised in Q4 2021? Answer: Nontraded REIT programs raised $5.29 billion in Q4 2022, down from the $12.47 billion raised in Q4 2021. (includes DRP proceeds)
Which two nontraded REITs owned the most self-storage properties as of December 31, 2022? Answer: Blackstone REIT owned 208 self-storage properties and Starwood REIT owned 153 self-storage properties as of December 31, 2022.
Which NAV nontraded REIT had the largest increase in its Class I share net asset value in March 2023? Answer: Apollo Realty Income Solutions reported an increase in its Class F-I share estimated NAV from $20.05 to $20.14, and increase of 0.45%. The median change for all NAV REITs for March 2023 was negative 1.52%.
Which listed REIT that issues nontraded preferred stock invests primarily in farm land? Answer: Gladstone Land (NYSE: LAND) is a REIT that currently owns 169 farms comprised of 115,731 acres across 15 states in the U.S., as well as several farm-related facilities.
How many common shares did FS Credit Real Estate Income Trust repurchase in 2022? Answer: During the year ended December 31, 2022,the Company repurchased 9,091,329 shares of common stock under its share repurchase plan representing a total of $225,664,000.
Which previously nontraded REIT recently began trading on the NYSE? Answer: Peakstone Realty Trust, formerly known as Griffin Realty Trust, began trading with its common shares listing on the NYSE on April 13, under the ticker “PKST”.
Both NAREIT and IPA define FFO and MFFO for nontraded REITs. What is a major difference between the two calculations for FFO? Answer: The NAREIT definition of FFO includes an adjustment for impairments to real estate assets in the calculation of FFO. The IPA definition of FFO does not include that adjustment, but makes the …
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