Nontraded REIT Portfolios Shrink As Redemptions Rise
April 26, 2023 | Mark Heschmeyer and Nicole Shih | CoStar News
Some of the largest nontraded real estate investment trusts expanded their commercial property portfolios by $49.4 billion in the first two-thirds of 2022, but they haven’t reported completing a significantly large purchase in more than seven months.
CoStar News reviewed Securities and Exchange Commission filings of eight private REITs that had monthly net property investment values of more than $1 billion each as of March. Those eight REITs — Blackstone Real Estate Income Trust, Starwood Real Estate Income Trust, Ares Industrial Real Estate Income Trust, Ares Real Estate Income Trust, Hines Global Income Trust, Nuveen Global Cities REIT, Brookfield Real Estate Income Trust and Cantor Fitzgerald Income Trust — had combined portfolios totaling $165.2 billion at the end of March. That total had shrunk by $2.4 billion since August.
