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Share Redemptions and Share Valuations – Looking Deeper
January 26, 2023
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Nontraded REITs with Highest Percentage of Shares Repurchased in Q3 2022
January 3, 2023
The announcements by Blackstone Real Estate Income Trust and Starwood Real Estate Income Trust in early December that limits…
Digging Deeper into Blackstone REIT Repurchases
December 11, 2022
Looking at the recent repurchases of common shares by Blackstone Real Estate Investment Trust, we observe…
Blue Vault Nontraded REIT Full-Cycle Performance Study, 7th Edition: Executive Summary
December 7, 2022
Blue Vault Nontraded REIT Full-Cycle Performance Study, 7th Edition: Executive Summary December 7, 2022 | James Sprow | Blue Vault Between April 1997 and August 2022, 84 nontraded REITs have experienced full-cycle events, providing investors with full liquidity for their common shares. • The 17 most recent full-cycle events that took place between March 2020 …
Are Starwood REIT Share Repurchases Trending Upward Like BREIT?
December 7, 2022
In a recent article, we reported that Blackstone Real Estate Income Trust was approaching the quarterly limits on common share repurchases…
Share Repurchases by Continuously Offered Nontraded REITs
December 6, 2022
In a recent article we looked at the share repurchases by Blackstone Real Estate Income Trust via their share redemption program…
Blackstone REIT Share Repurchases Approaching Quarterly Limits
November 23, 2022
Blackstone REIT Share Repurchases Approaching Quarterly Limits November 23, 2022 | James Sprow | Blue Vault Recent comments by industry experts have suggested that share repurchase requests by the common shareholders of continuously offered nontraded REITs may in the coming months exceed the limits contained in the REIT prospectuses. Those prospectuses generally spell out the …
FS Credit Real Estate Income Trust to Increase Distribution Rates?
November 17, 2022
On November 3, an SEC filing stated that FS Credit Real Estate Income Trust Inc., a monthly NAV REIT sponsored by FS Investments…
Recent Performance of a Nontraded REIT’s NAV vs. Listed REITs
November 10, 2022
Recent Performance of a Nontraded REIT’s NAV vs. Listed REITs November 10, 2022 | James Sprow | Blue Vault One of the advantages of nontraded REIT investments is the lower volatility of valuations compared to listed REITs. The market value of listed REITs as indicated by the FTSE All Equity REITs index has fallen approximately …
The Weighted Average Cost of Debt for All Nontraded REITs Jumps in Q2 2022
October 26, 2022
Using the Blue Vault Database for all Nontraded REITs, we can calculate the weighted average debt for all active…
Interesting Trends in Nontraded REIT Debt
October 25, 2022
As expected with the economy-wide rise in interest rates, the weighted average interest rates on nontraded REIT (NTR) debt…
How Rising Interest Rates Affect NTR Variable Rate Debt
October 21, 2022
Much of the variable rate debt used by nontraded REITs is tied to SOFR, the Secured Overnight Financing Rate…
Blue Vault Fee Study: Executive Summary
October 19, 2022
Blue Vault Fee Study: Executive Summary October 19, 2022 | Blue Vault • There were 16 effective Open Nontraded REIT offerings as of June 30, 2022. Of those, 14 were perpetual-life REITs, one was a continuous offering, selling daily or monthly NAV products, and one was life-cycle REIT. Ares Industrial Real Estate Income Trust positions …
Using Blue Vault Data to Analyze Distribution Sustainability
September 28, 2022
Blue Vault has been reporting metrics to gauge the performance of nontraded REITs since our beginning in 2009. Given the uniqueness…
Assessing the Corporate Property Associates 18 – Global Merger
September 6, 2022
The merger of Corporate Property Associates 18 – Global (“CPA 18”) with W.P. Carey was completed on August 1, 2022. In this article we look at the financial…
State Securities Regulators Consider Rules Affecting Nontraded REITs
September 1, 2022
The North American Securities Administrators Association (“NASAA”) is considering new policies that would establish limits on how much an individual can…
The Portfolio Re-Balancing Conundrum
July 25, 2022
During the May 20 Blue Vault Webinar entitled “Can Real Estate Performance be Sustained in a Recession?” Adam Lotterman…
Cerulli/Blue Vault Survey: Alternative Investments Enter a “Goldilocks” Phase
July 20, 2022
Advisors express growing demand for alternative investments; intermittent liquidity exposures post “hockey-stick growth” as…
The Federal Reserve’s Beige Book Affirms Strength of Multifamily and Industrial CRE Sectors
July 14, 2022
Two themes emerge from yesterday’s Beige Book release. First, there are regional differences in the strength of commercial real…
As Interest Rates Rise, More Nontraded REITs Have More Variable Rate Debt
July 8, 2022
With interest rates rising, many nontraded REITs may be wishing they had more of their debt at fixed interest rates, or rates…
The Housing Shortage Is Going to Get Worse
July 1, 2022
The Federal Reserve’s increase in its overnight rate for the third time this year in mid-June led to an increase in the average rate…
Thoughts About Effects of Rising Interest Rates on CRE NAVs and Cap Rates
June 30, 2022
In this discussion, we focus on the effects of rising interest rates on the valuation of commercial real estate and we consider the…
The Importance of MFFO in Assessing Nontraded REIT Performance
June 28, 2022
Most investors in nontraded REITs correctly focus their attention on cash flows, or more specifically the cash distributions the…
The Use of Interest Rate Caps and Swaps by NTRs in a Rising Rate Environment
June 21, 2022
A recent Special Report published by Marcus & Millichap goes into great detail on the use of interest rate caps and swap…
Overlooking the Risk-Return Relationship in Listed vs. Nontraded REITs
June 16, 2022
Investors that choose to diversify their portfolios with alternatives such as commercial real estate have to pay attention to more than just…
