Which listed REIT which was originally a nontraded REIT program will merge with a Blackstone affiliate for $24.25 in the second half of 2022? Answer: Bluerock Residential Growth REIT (“BRG”) will merge with an affiliate of Blackstone Inc. The merger proposal was approved by BRG shareholders. The stock traded at less than $12.00 per …
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Which nontraded BDC raised $224.4 million in capital in August 2022? Answer: Blue Owl Capital Inc. (formerly Owl Rock Capital Advisors) raised $224.4 for Owl Rock Core Income Corp. in August 2022.
Which nontraded REITs raised the most capital in Q2 2022? Answer: The top six nontraded REITs raising capital in Q2 2022 were: Blackstone REIT, Starwood REIT, FS Credit Real Estate Income Trust, Nuveen Global Cities REIT, Hines Global Income Trust and Ares Industrial REIT. Blackstone raised $6.67 billion, including DRIP proceeds. Starwood REIT raised $1.8 …
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According to the recent Cerulli Associates survey of financial advisors, what factor had the highest response rate for the question “What factor would drive increased alternative allocations”? Answer: 59% of respondents cited “Enhanced liquidity of alternative investments” as a factor that would drive increased alternatives allocations, the top choice.
According to the recent white paper by Cerulli Associates in partnership with Blue Vault, what was the total assets in Nontraded REITs, Interval Funds, Nontraded BDCs and Tender Offer Funds in 2021? Answer: $344.8 billion
In the recent Cerulli Associates survey of financial advisors, in partnership with Blue Vault Partners, what was the most-cited challenge to investing in illiquid alternative investments? Answer: 53% of respondents cited “Lack of liquidity is not suitable for clients” followed by “Complexity of products makes due diligence difficult” cited by 42%.
In how many months of the past 31, thru July 2022, was the median total return to shareholders in continuously offered nontraded REITs negative? Answer: The median return to shareholders in continuously offered nontraded NAV REITs was negative only in March 2020, once in 31 months. The S&P 500 Index had negative total returns in …
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According to a recent Cerulli Associates / Blue Vault survey of investment advisors, what is the expected portfolio distribution in all alternative investments in 2024? Answer: Survey respondents gave an average expected distribution in all alternative investments in 2024 of 17.5%, up from the 14.5% distribution in 2022.
How many of the 16 offerings by nontraded REITs that were open as of June 30, 2022, are perpetual offerings with no specific closing date? Answer: 14 of the 16 offerings are perpetual. One offering is “continuous” and may have a full-cycle event in the future. One has a specific anticipated closing date.
For those 16 nontraded REITs that had open offerings as of June 30, 2022, how many based their asset management fees on their net asset values? Answer: All but four of the nontraded REITs based their asset management fees on their total net asset value. The four based their asset management fees on the gross …
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Which Company that recently completed a merger with a nontraded REIT has increased its dividends per share every year since going public in 1998? Answer: W.P. Carey has increased its dividend every year since going public in 1998. On August 1 it completed the merger of Corporate Property Associates 18 – Global. Class A shareholders …
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What has happened to the share of commercial real estate investment by dollar volume that has gone to Secondary/Tertiary markets in the U.S. through Q1 2022? Answer: 58.0% of capital allocations in commercial real estate in Q1 2022 has gone to Secondary/Tertiary markets in the U.S. This is up from 53.1% in Q1 2020. Cap …
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What is the latest acquisition of a public REIT by Blackstone REIT? Answer: Four of this year’s nine pending or completed REIT acquisitions involve Blackstone REIT, including a $12.8 billion deal for American Campus Communities that’s expected to be completed in the third quarter. That deal comes at a 30% premium from the share price …
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According to Bankrate’s 10th annual survey on Americans’ favorite long-terms investments for building wealth, what asset class was the most popular? Answer: Real estate was the top answer in this year’s Bankrate survey, with 29% of respondents saying it’s their preferred way to invest money they won’t need for at least a decade.
Which nontraded REIT recently made its first real estate investment in the “Research Triangle” in North Carolina? Answer: Hines, the global real estate firm, on June 16, 2022, announced that Hines Global Income Trust had acquired Waverly Place, a grocery-anchored retail center in Cary, North Carolina. Waverly Place, located in the Research Triangle area of …
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What does Gladstone Land Corporation, a listed REIT that issues nontraded preferred stock, invest in? Answer: The REIT is engaged in the business of owning and leasing farmland. It currently owns 164 farms comprised of 112,542 acres located across 15 states in the U.S. It also owns several farm-related facilities, such as cooling facilities, packinghouses, …
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As of May 9, how much capital had Invesco REIT raised via a private offering of Class N shares? Answer: Invesco REIT had raised $443.7 million via the private offering of Class N shares as of May 9, 2022. As of May 9, 2022, the REIT had a commitment to purchase an additional $41.3 million …
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When was the public offering by Strategic Storage Trust VI, Inc., declared effective? Answer: On March 17, 2022, the public offering by Strategic Storage Trust VI, Inc., was declared effective.
What was the range of the monthly total returns reported by the continuously offered nontraded REITs for May 2022? Answer: The highest monthly total return was posted by Cottonwood Communities (+3.04%) and the lowest was by RREEF Property Trust (-0.66%).
How did the median total return to the 13 continuously offered nontraded REIT programs in May 2022 compare to the NAREIT All REIT Index total return for May 2022? Answer: The median return for the 13 continuously offered nontraded REITs in May 2022 was +0.94% and the median total return YTD in 2022 was 7.48%. …
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Which nontraded REIT increased its commitment to residential properties, including single-family rental properties, to 44% of its portfolio, as of March 31, 2022? Answer: Jones Lang LaSalle Income Property Trust is increasing its commitment to the residential sector, including a 47% investment in 2021 in a portfolio of 4,000 single-family rental properties managed by Amherst …
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Of the 52 monthly observations of total returns to the shares of the continuously offered nontraded REITs year-to-date in 2022 thru April, how many were negative? Answer: Year-to-date for the 13 continuously offered nontraded REITs in 2022 thru April, there were none that reported a negative total return (of the 52 monthly total returns reported).
What is the current shortage of housing units in the U.S. according to the National Association of Realtors and how many housing starts are projected for 2023? Answer: According to Dr. Yun at the National Association of Realtors there is currently a shortage of 3 million housing units in the U.S. and only 1.2 million …
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Which continuously offered nontraded REIT reported a year-to-date total return to its Class I shares of 22.37% thru April 2022? Answer: Ares Industrial REIT (formerly Black Creek Industrial REIT IV) had total returns to Class I shares of 22.37% thru April 2022. This led all of the 13 continuously offered nontraded REITs in total returns …
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Of the 362 monthly observations of total returns to shares in continuously offered nontraded REITs in Blue Vault’s data since January 2020 and thru April 2022, how many had negative returns? (The returns included monthly changes in NAVs and distribution yields.) Answer: Of the 362 monthly total returns, only 23 were negative, or 6.4%.
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