Private Placement Sales Up 207% in May, Interval Funds and Nontraded Closed-End Funds Rebound
June 23, 2017 | by James Sprow | Blue Vault
Private placement sales by program sponsors reporting to Blue Vault for May, 2017, totaled $165.85 million. This far exceeded those sales for April 2017 of $54.07 million and March 2017 of $114.79 million. In the reports, Inland Real Estate Investment Corporation through its private placement arm Inland Private Capital Corporation had $84.35 million or 55% of reported private placements for the month. The next largest sales totals were Passco Companies, LLC with $23.05 million and Cantor Fitzgerald Capital with $16.63 million. Inland’s private placements were up 56% from the April total of $54.07 million.
Interval funds and nontraded closed-end funds reported sales of $152.76 million in May compared to $144.90 million in April and $192.22 million in March. Leading those funds reporting in May were Griffin Capital’s Institutional Access Real Estate Fund with $74.62 million, Bluerock Capital Markets’ Total Income+ Real Estate Fund with $27.70 million, and Resource Real Estate’s Resource Credit Income Fund and Resource Diversified Income Fund together totaling $18.21 million. Griffin Capital’s fund sales were up 15% from $64.96 million in April.
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