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Nontraded REITs with Limited Operating Results for Q3 2016 are Now Available on Blue Vault’s Website!

December 19, 2016

Nontraded REITs with Limited Operating Results for Q3 2016 are Now Available on Blue Vault’s Website!

Each quarter Blue Vault includes a table of all nontraded REITs that are active but have yet to raise significant equity in their respective public offerings or have yet to acquire more than three properties.

In some cases, a new nontraded REIT program will receive its initial equity funding and/or investment properties from the sponsor before significant amounts of common stock have been issued through the initial public offering. For example, NexPoint Multifamily Capital Trust, Inc., had acquired an interest in a property from the Sponsor in exchange for 434,783 shares of its Class A common stock on April 7, 2016, but as of November 28, 2016, had sold only $4.67 million of Class A common stock in its public offering.

In other cases, the initial capitalization of the nontraded REIT was received through a private placement prior to the registration of the public offering. This was the case for KBS Growth & Income REIT, Inc., which had received $76.8 million in its Private Offering as of September 30, 2016, but $0.9 million in its Public Offering.

An added feature in this Q3 2016 Blue Vault Nontraded Industry Review is a new initial public offering (IPO) that has not yet been declared effective by the SEC. Rodin Global Property Trust, Inc., whose sponsor Cantor Fitzgerald Investors, LLC, is entering the nontraded REIT sector for the first time, filed an S-11 with the SEC on October 17, 2016, to offer up to $1.25 billion in Class A, Class T and Class I common stock. The SEC staff will review the S-11 and identify any disclosures that appear to conflict with SEC rules or applicable accounting standards, and can ask for revisions to the prospectus. Once any staff comments have been addressed, the SEC will issue an order declaring the registration statement “effective.” This means the company can proceed with the IPO.

We trust that the Nontraded REITs with Limited Operating Results page in our Review, which completely rounds out our quarterly review of all nontraded REITs, helps our clients understand the nontraded REIT industry as a whole, as well as where each specific nontraded REIT stands in its LifeStage.

This single page from our report, titled, “Nontraded REIT Individual Reports”, is now available on the on the Blue Vault Website. A list of REITs included is as follows:

Nontraded REITs with Limited Operating Results

  • Blackstone Real Estate Income Trust
  • CNL Healthcare Properties II, Inc.
  • Cole Office & Industrial (CCIT III) REIT, Inc.
  • Hartman vREIT XXI, Inc.
  • Industrial Logistics Realty Trust, Inc.
  • KBS Growth & Income REIT, Inc.
  • Lightstone Real Estate Income Trust, Inc.
  • NexPoint Multifamily Capital Trust, Inc.
  • NorthStar/RXR New York Metro Real Estate, Inc.
  • Resource Apartment REIT III, Inc.
  • Resource Innovation Office REIT, Inc.
  • Steadfast Apartment REIT III, Inc.

New Offerings Not Effective – NEW!

  • Rodin Global Property Trust, Inc.

You may access this page by logging into the Blue Vault Website and clicking on “Subscriber-Only Research”, “Nontraded REITs”, then “Nontraded REIT Individual Reports” links on the toolbar at the top of the home page. Scroll down to 2016, then 2016 Q3. Look for the file named, “NTRs With Limited Operations Q3 2016.”

The full NTR review was published today (December 19, 2016).

Blue Vault research is available to paid Subscribers only. If you do not have a current subscription, call Dawn McDaniel at 877-256-2304, Option 2 to see how you can get access today!

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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."