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Sales by Interval Funds, Nontraded Closed-End Funds, and Private Placements for March

April 19, 2018

Sales by Interval Funds, Nontraded Closed-End Funds, and Private Placements for March

April 18, 2018 | James Sprow | Blue Vault

Blue Vault reports sales for Interval Funds and nontraded Closed-End Funds received from ten fund sponsors in March. March sales of the funds that were reported to Blue Vault totaled $184.2 million, up 7.6% from the $171.2 million reported in February for the same sample of programs. The largest total sales reported by a sponsor of these products in March was $109.6 million by Griffin Capital Corporation in their Griffin Institutional Access Real Estate Fund and Griffin Institutional Access Credit Fund. This sponsor’s sales were 60% of total sales reported to Blue Vault for March in the Interval Fund and nontraded Closed-End Fund sector, up from 32% in February. Bluerock Capital’s Total Income+ Real Estate Fund was next in the Interval Fund category with $32.2 million sales in March.
 
Among leading sponsors of Interval Funds and nontraded Closed-End Fund sales reported to Blue Vault in March 2018 were:

•  Griffin Capital Company $109.6 million
•  Bluerock Capital Markets $32.2 million
•  Resource $17.4 million
CION Investment Group $9.5 million
TriLinc $7.2 million
Steadfast Companies $3.9 million

 

Sponsors reported Private Placement and Reg A sales of $183.1 million in March, down 43% from $321.9 million reported by the same sponsors in February. Inland Real Estate Investment Corp. led the group of reporting sponsors with $56.5 million in March, down from $95.5 million in February. Owl Rock Capital Corporation did not report Private Placement sales to Blue Vault in March after reporting $75.0 million in sales in February.
 
Among leading sponsors in Private Placement and Reg A sales reported to Blue Vault in March were:

•  Inland Real Estate Investment Corp. $56.5 million
•  Passco Companies, LLC $30.1 million
•  ExchangeRight Real Estate $29.9 million
Cottonwood $14.7 million
Bluerock Capital Markets $8.5 million
Lodging Fund $8.4 million
Moody National Companies $8.3 million
SmartStop Asset Management $8.2 million
Capital Square $5.6 million
Hamilton Point Investments, LLC $5.0 million

 

In October 2017, Blue Vault began reporting sales of nonlisted preferred stock issued by Bluerock Capital Markets and CIM Commercial Trust. March sales of nonlisted preferred stock by those two companies were $10.9 million in March, up from $8.8 million in February. Sales were $28.3 million in Q1 2018 for these two companies.

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