UNLOCK THE POWER OF THE VAULT

Department of Labor (DOL) Fiduciary Rule: Counterintuitive Reaction or True Investor Protection?

Traded REIT Premiums and Discounts to NAVs – Reading the Tea Leaves

March 19, 2015

Full-cycle events within the nontraded REIT sector provide interesting and potentially valuable insights.  Whenever a nontraded REIT lists its shares on a public exchange, or merges with a listed company, the market valuation of its shares is revealed after years of reporting share prices based upon the original issue price or subsequent “NAV” reports based …

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What’s MFFO and Why Should I Care?

October 23, 2014

In investing as in sports, a few people tend to focus on statistics while most don’t, but we all care about winning and losing. There are some numbers that reveal a lot about whether we’re winning or losing, and some numbers that only the “stats geeks,” or in the case of investing, the analysts, seem …

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In a League of Their Own

October 10, 2014

Real estate cycles and the stock market do not move in lockstep with one another. And while there may be a few good reasons to use publicly traded REIT indexes as a comparison for nontraded REIT performance, the values of nontraded REITs are more closely tied to the real estate cycle. As a result, direct …

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Blue Vault Questions Investment News Article

September 24, 2014

In the article written by Bruce Kelly of InvestmentNews on September 17, 2014, titled “Nontraded REITs stack up well compared with traded REITs,” he states that an August 2014 Green Street Advisors study is the “first to track nontraded REIT performance in comparison with their traded counterparts.” Unfortunately, Mr. Kelly forgot to check his facts …

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Blue Vault LifeStages 101

August 7, 2014

When considering an investment in nontraded REITs, both investors and financial advisors need to be aware that these investment vehicles move through distinct developmental stages over time as they grow from inception to maturity. As a result, their performance characteristics more closely mirror those of direct property investments, private equity, and other illiquid vehicles. In …

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Franklin Square to List First Nontraded BDC on the NYSE

March 13, 2014

Franklin Square recently announced that it will be listing its first nontraded BDC, FS Investment Corp., on the New York Stock Exchange under the symbol “FSIC.. It is expected to list in April 2014. FSIC was the first nontraded business development company (BDC) product in existence. Launched in 2009, FS Investment Corp. is a partnership …

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Fundraising Does Not Equal Performance

November 26, 2013

Pick any article published about, nontraded REITs within the past year and most likely the primary focus of the article will be about how much money the industry has raised. Over and over again, we continue to see a significant amount of emphasis placed on this topic and are troubled by the suggestion that fundraising …

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BDCs – A Primer

August 22, 2013

Blue Vault has formed a strategic alliance with Blue Springs Capital to launch a new report that will  monitor and analyze the performance of nontraded Business Development Companies (BDC). Created for the purpose of providing education and enhanced transparency for the nontraded REIT industry, Blue Vault is expanding the firm’s research of nontraded investment products …

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When One Door Closes….

June 27, 2013

The pace of nontraded REIT offering closings has accelerated significantly over the past six months.  In fact, through June 2013, there have been a total of ten offerings that have closed to new investments compared to eight offerings that closed during all of 2012. While some might have their concerns about this recent trend, these …

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The FFO and MFFO Debates

February 13, 2013

Ask anyone in the real estate investment industry and they will tell you that the metric known as “Funds from Operations,” or FFO, is not perfect.  In fact, there has been an ongoing debate within the publicly traded REIT community for years on this very topic. The FFO metric was originally adopted by the National …

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The New Kids on the Block

January 9, 2013

As we welcome in a new year, last week the nontraded REIT industry welcomed its newest member and the eighth offering to incorporate a daily pricing model.  Continuing with a trend that began in 2011 and maintained momentum throughout 2012, as of January 8th, daily priced nontraded REITs represent more than a third of all …

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One Bad Apple Doesn’t Always Spoil the Whole Bunch

October 23, 2012

Nontraded REITs continue to get a bad reputation as a result of fines and sanctions like the one just handed down by FINRA against David Lerner Associates.  On the whole however, sponsors of nontraded REITs and the broker/dealers that distribute them are among the most highly regulated groups operating in the securities industry today. For example, …

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Corporate Property Associates 15 Completes its Full-Cycle Event

October 10, 2012

After a quiet 2011, the nontraded REIT industry has responded with several full-cycle events such as the listing of American Realty Capital Trust (NASDAQ: ARCT), Healthcare Trust of America (NYSE: HTA) and Retail Properties of America (NYSE: RPAI). With the merger of Corporate Property Associates 15 Inc. (CPA 15), into W.P. Carey & Co., LLC, …

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Welcome to the Blue Vault Blog

September 27, 2012

Since the beginning of 2009, the industry has introduced 45 new nontraded REIT offerings, seen seven full-cycle events, and has grown to an almost $80 billion industry.  In addition, sponsors of new offerings continue to improve investment strategies, introduce innovative product designs, and provide fee enhancements for the benefit of investors.  And throughout this period, …

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Austin Gross
Blue Vault Broker Dealer Educational Summit
February 23, 2019

Blue Vault has been an important partner to Geneos in providing us and our advisors pertinent information about non-traded products and the industry as a whole. The annual BD Summit is a valuable due diligence experience for any broker dealer."