Answer: SmartStop Asset Management‘s current offerings include Strategic Storage Trust IV, focusing on income producing & growth self-storage properties, and Strategic Student & Senior Housing Trust, focused on income and growth student and senior housing properties.
Answer: On April 11th, Carter Validus Mission Critical REIT II, Inc. announced the entry into a merger agreement with Carter Validus Mission Critical REIT, Inc. The merger, if consummated, would add 61 healthcare properties to its portfolio and create a combined company with a total enterprise value of approximately $3.2 billion.
Answer: Strategic Student & Senior Housing Trust is a nontraded REIT that invests in both student housing near major universities and in senior housing independent living, assisted living, memory care, and continuing-care retirement communities.
Answer: Blue Vault has identified at least 155 Qualified Opportunity Funds as of May 31, 2019. The total announced offering amounts for those funds exceed $36 billion.
Answer: Black Creek Group reported sales for Black Creek Industrial REIT IV and Black Creek Diversified Property Fund of $45.9 million, ranking the sponsor second behind Blackstone for April. YTD in 2019, the two REITs have raised a combined total of $188.1 million.
Answer: The April 2019 total NTR sales of over $912 million exceeded the three-month Q4 2017 total ($881 million) by over $30 million.
Answer: Hartman Short Term Income Properties XX, Inc. acquired 26 properties on October 1, 2018, for a total of $313.2 million.
Answer: Hines Global REIT, Inc. sold 13 properties in Q4 2018, including five industrial parks in Poland and four office properties in Australia, for a total of $1.07 billion.
How many sponsors of nontraded REITs have raised over $1 billion since 1990? Answer: 22 Sponsor Cumulative Capital Raise since 1990 ($ Mill) Rank AR Global $17,933.3 1 Inland Real Estate Investment Corporation $17,471.9 2 CIM Group $13,580.0 3 CNL Financial Group $11,864.4 4 Wells Real Estate Funds $11,747.6 5 W. P. Carey Inc. $10,075.1 …
Answer: Rodin Global Property Trust, Inc., a nontraded REIT program sponsored by Cantor Fitzgerald Investors.
Griffin-American Healthcare REIT IV, Inc. raised approximately $95 million in its public offering in Q1 2019 before closing, for the largest share among nontraded REIT offerings reporting to Blue Vault after the leader, Blackstone REIT.
Answer: Starwood Real Estate Income Trust, Inc. broke escrow as of December 21, 2018. The nontraded REIT had 9,560,175 common shares outstanding as of February 28, 2019, and a total net asset value of $193,259,539 as of that date.
Answer: American Realty Capital Healthcare Trust III, Inc. made a final liquidating distribution to its common shareholders on March 7, 2019, of $2.29 per share. On January 9, 2018, the Company paid an initial liquidating…
Answer: The additional annualized deferred financing costs can add anywhere from 0.05% to 1.44% to the annualized cost of debt financing. For a sample of 38 nontraded REITs with deferred financing costs, the average additional cost of borrowing was 0.36% annualized, added to the weighted average cost of debt of 4.33% for a total average cost of borrowing of 4.66%.
Answer: According to Forbes, Mr. Schwarzman’s estimated net worth was $13.3 billion as of February 25, 2019. The son of a dry goods store owner, he founded private equity firm Blackstone with fellow billionaire Peter Peterson in 1985. He has pledged or given away $350 million to Yale University, New York Public Library and others. He was ranked 34th on Forbes 2018 list of the 400 richest Americans.
Answer: The fund, since inception in October 2012, has recorded approximately 90% lower volatility than leading stock and public REIT indices. The fund has paid 23 consecutive quarterly distributions and its latest distribution is equivalent to a 5.25% annualized rate based on the September 26, 2018 record date NAV of $30.27 per share, and an effective 6.4% (A Share) distribution rate on the inception price of $25.00 per share.
Answer: Eight interval funds had net assets in excess of $1.0 billion, led by Stone Ridge Trust II ($6.0 billion), Stone Ridge Trust V ($3.5 billion), ACAP Strategic Fund ($3.3 billion), Griffin Institutional Access Real Estate Fund ($2.6 billion), and Versus Capital Multi-Manager Real Estate Income Fund ($2.5 billion).
Answer: Phillips Edison & Company’s tenants include Publix, Kroger, UPS Store, Subway, Starbucks, and Great Clips.
Answer: MacKenzie Realty Capital, Inc., a nontraded BDC, owned common shares in at least 25 different nontraded REITs as of September 30, 2018. The cost basis of the 19 million shares was $22.6 million as of September 30, 2018, with an estimated fair value of $25.2 million. The BDC’s largest investment among the nontraded REITs was in KBS REIT II, Inc., in which it held 1.6 million shares with a fair value of $6.56 million at that date, and a cost basis of $3.65 per share. The BDC also owned 14.7 million shares of Highlands REIT, Inc. with a cost basis of $0.197 per share.
Answer: There have been a total of seven previously nontraded REIT programs that have completed full-cycle events since December 2017: …
American Finance Trust, Inc. (“AFIN”) announced on December 20, 2018, that all issued and outstanding shares of its Class B-2 common stock would automatically convert into shares of its Class A common stock on January 9, 2019. Class A shares trade on the Nasdaq under the ticker symbol AFIN. The Class B-2 shares represent approximately 25% of AFIN’s total outstanding shares. As of the conversion date, 100% of AFIN’s common shares became tradeable, completing its full liquidity event.
Nuveen Global Cities REIT is sponsored by Nuveen. The REIT is currently offering up to $5 billion of common stock in a perpetual life offering, featuring monthly Net Asset Values (NAVs). The public offering includes four share classes (T, S, D, and I shares). Teachers Insurance and Annuity Association of America (“TIAA”) is the ultimate parent company of TIAA Global Asset Management/Nuveen.
According to the IRS, 8,763 census tracts have been officially designated as Opportunity Zones by all of the States and Puerto Rico, as of December 14, 2018. The State of California alone has designated 879 census tracts as Opportunity Zones. The State of Texas has 628.
Answer: American Finance Trust (AFIN) listed a portion of its outstanding shares on the Nasdaq on July 19, 2018, and the final portion of its common shares (Class B-2) will convert to Class A shares on January 15, 2019. The shares reached a high of $17.76 on September 20 and recently traded at $13.77 per share.
Answer: Owl Rock Capital Corporation II raised an estimated $91.1 million in Q3 2018 and raised an estimated $237.9 million for the nine months ended September 30, 2018.