NTR Sales Down 30% in July While BDC Sales Decrease 43%

August 11, 2017 | by James Sprow | Blue Vault

Sales by nontraded REITs fell 30% in July. The June sales of $350.9 million reported to Blue Vault by nontraded REIT sponsors fell to $245.8 million in July. This was below the trailing six-month average for nontraded REIT sales of $371 million. A drop in sales during the summer is not unusual for the industry and was also observed in 2016.

BDC sales reported in July were $42.2 million, down 43% from $74.3 million in June, and below the $66.0 million trailing six-month average for BDCs.

Blackstone REIT’s reported sales in July were $87.9 million, down 32% from the $129.4 million in June. The Blackstone REIT sales constituted 36% of reported nontraded REIT sales in July, down from the 37% share of nontraded REIT industry sales in June and 43% in May.

Among leading sponsors in the nontraded REIT sector in July following Blackstone’s $87.9 million were:

Carter Validus $28.7 million
Griffin Capital $27.6 million
Cole Capital $22.2 million
Black Creek Group $19.6 million

Black Creek Group was formerly known as Dividend Capital.

Leading sponsors in the BDC sector with July sales were FS Investments ($21.3 million) and Owl Rock Capital Advisors ($5.3 million).

View the Blue Vault Monthly Sales breakdown page here.