Inside the Vault

October 28, 2020

Which continuously offered nontraded REIT has raised approximately $1.7 billion of its $5.0 billion offering and recently raised its NAVs per share by approximately $0.03 per share as of September 30, 2020?

Answer: Starwood Real Estate Investment Trust announced on October 15 that it had raised approximately $1.7 billion in its continuous offering and raised the net asset...

October 27, 2020

If approved by shareholders, what will the shareholders of Cole Office & Industrial REIT (CCIT II), Inc. (“CCIT II”), Cole Office & Industrial REIT (CCIT III), Inc. (“CCIT III”) and Cole Credit Property Trust V, Inc. (“CCPT V”) receive in the proposed merger with CIM Real Estate Finance Trust, Inc. (“CMFT”)?

Answer: Subject to the terms and conditions of the merger agreements, CCIT II, CCIT III and CCPT V stockholders would receive, for each share of common stock of the...

October 22, 2020

Which two nontraded REITs completed a merger on October 5, 2020?

Answer: Pacific Oak Strategic Opportunity REIT II, Inc. merged with Pacific Oak Strategic Opportunity REIT, Inc. on October 5, 2020. Each issued and...

October 21, 2020

Which two alternative investment sponsors covered by Blue Vault invest exclusively in self-storage properties?

nswer: SmartStop and Leitbox sponsor alternative investment programs that focus exclusively on self-storage properties...

October 20, 2020

Which three CIM sponsored nontraded REITs will merge into CIM Real Estate Finance Trust, Inc. if shareholders approve the merger proposals annnounced in an Agreement and Plan of Merger on August 30, 2020?

Answer: Cole Credit Property Trust V, Inc., CIM Cole Office & Industrial REIT (CCIT II), Inc., and Cole Office & Industrial REIT (CCIT III), Inc. will merge with...

October 15, 2020

Out of 61 active nontraded REITs as of June 30, 2020, how many were not making cash distributions?

Answer: 26 nontraded REITs had suspended distributions as of June 30...

October 14, 2020

Of the 61 active nontraded REITs as of June 30, 2020, how many were paying distributions at 6% or greater as a percentage of the offering price?

Answer: Seven nontraded REITs were paying distributions at 6.0% or greater as a percentage of the...

October 12, 2020

Which five nontraded REITs reported higher net asset values (NAVs) in the Blue Vault’s Q2 2020 Nontraded REIT Review, up from their NAVs in the Q1 2020 report?

Answer: The five NTRs with higher NAVs were Rodin Income Trust, Inc., Starwood Real Estate Income Trust, Inc....

October 8, 2020

Which nontraded REIT’s board approved a distribution rate of 6.00% on Class A shares, based upon the offering price, for Q4 2020, on September 25, 2020?

Answer: On September 25, 2020, the board of SmartStop Self Storage REIT, Inc. authorized a daily distribution rate of approximately $0.00164 per day per share...