The yield on 10-year Treasury bonds as of June 1, 2016, was 1.85%, compared to 2.13% one year earlier, indicating a widening spread between commercial real estate capitalization rates and the cost of debt for nontraded REITs. This spread provides nontraded REITs with a margin of safety if property values should fall.

How much equity capital did nontraded BDC programs raise in September 2023 via public offerings?
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