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Some Vault Views are available to Blue Vault Subscribers only. If you are not currently a subscriber, and would like to know more, contact Dawn McDaniel toll free at 877-256-2304, extension 2.

Blackstone REIT Share Repurchases Approaching Quarterly Limits

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 …

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FS Credit Real Estate Income Trust to Increase Distribution Rates?

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

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 …

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The Weighted Average Cost of Debt for All Nontraded REITs Jumps in Q2 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

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

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

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 …

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Using Blue Vault Data to Analyze Distribution Sustainability

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

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

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

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

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

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

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

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

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

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

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

Investors that choose to diversify their portfolios with alternatives such as commercial real estate have to pay attention to more than just…

The Interesting Effects of Changes in Discount Rates and Cap Rate Assumptions on NAVs

A recent article on the differences in appraised values that a certain ex-president owner of commercial property has reported to his mortgage bankers…

Diversification Across Continuously Offered Nontraded REITs

In this article we look at the possibilities of diversification across the current offerings of continuously offered nontraded REITs…

The Federal Reserve’s Double Whammy and Commercial Real Estate

Besides their intention to raise interest rates, the Fed is also planning to reduce its record balance sheet by selling off its assets which…

Why Retail May Be the Next Commercial Real Estate Sector to Look At

While much of the good news across commercial real estate sectors during the pandemic has come from industrial, multifamily, and self-storage…

The Logic Behind Taking Listed REITs Private

The Logic Behind Taking Listed REITs Private April 26, 2022 | James Sprow | Blue Vault The headline on April 25 stated that Blackstone Inc. (Ticker: BX) agreed to buy another real estate investment trust (REIT) PS Business Parks (Ticker: PSB) for $7.6 billion, including debt. The deal would take the REIT private and pay …

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Looking for High Occupancy and Long-Term Leases in Nontraded REIT Portfolios (Q4 2019)

In today’s turbulent financial markets it’s very difficult to identify safe havens for investment. With regard to commercial real estate, two measures of relative safety might…

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Second Annual Blue Vault Broker Dealer Educational Summit 2016
2016 Broker Dealer Educational Summit 2016
May 30, 2016

Best Due Diligence meeting in the industry. No sales pitches, senior level decision makers, meaningful discussions and the Broker Dealer networking sessions were especially useful. Thanks to Blue Vault for raising the bar!