Full-Cycle (Date): Shareholders received cash or listed stock for all common shares of the previously non-traded investment program as of the given date.
In-Process: The investment program has commenced liquidation of its investment portfolio, has announced a merger or sale that has not yet been consummated, or has yet to provide common shareholders with full liquidity for their shares with cash and/or listed stock.
SRP/Tender: Share repurchase or tender program which permits shareholders to sell their shares back to the company, subject to limitations. The frequency, price, and limitations vary by investment program.
Suspended: The investment program has suspended its share repurchase or tender program.
None: The investment program does not have an intermittent liquidity program, but shareholders will receive liquidity upon termination or liquidity event at the end of the investment term.
REIT exposures to interest rates are at an all-time low, as demonstrated by new data from the Nareit T-Tracker®. REITs have reduced their reliance on borrowings, which lowered leverage ratios considerably over the past decade. The weighted average debt-to-book assets ratio of all REITs declined from 58.3% in 2008 to 50.3% in the first quarter of 2021.
