Inside the Vault

May 2, 2018

Which first-time nontraded REIT sponsors have filed public offerings in the last six months?

Answer: FS Investments; Nuveen, LLC; Oaktree Capital Management, L.P.; and Starwood Capital Group Holdings, L.P.

April 25, 2018

Which nontraded REIT program reached a peak of $11.7 billion in total assets in Q2 2010, the largest nontraded REIT in terms of total assets?

Answer: Inland American Real Estate Trust, Inc., now known as InvenTrust, Inc.

April 10, 2018

Which nontraded REIT program recently announced that its sponsor’s three founding principals will invest 100% of their net after-tax compensation in 2018 in shares of the REIT?

Answer: Jeff Hanson, Danny Prosky, and Mathieu Streiff, along with the company’s executive vice presidents, entered into irrevocable stock purchase plans applicable to Griffin-American Healthcare REIT IV, Inc., a publicly registered, non-traded real estate investment trust co-sponsored by the firm and Griffin Capital Company, LLC. Under the terms of the plans, Hanson, Prosky and Streiff agreed…

April 3, 2018

Which were the five largest interval funds in terms of net assets as of their most recent financial reports?

Answer: Stone Ridge Trust II, Stone Ridge Trust V, ACAP Strategic Fund, Griffin Institutional Access Real Estate Fund, and Versus Capital Multi-Manager Real Estate Income Fund

March 28, 2018

What was the combined total net assets for the 43 interval funds as of their most recent financial reports?

Answer: $21.0 billion

March 21, 2018

Which five nontraded REITs had the highest annualized average returns to early investors according to Blue Vault’s Nontraded REIT Full-cycle Performance Study, 5th Edition?

Answer: American Realty Capital Trust, Inc. (14.63%), American Realty Capital Trust III, Inc. (14.46%), Hospitality Five, Inc. (13.49%), Apple Hospitality Two, Inc. (13.40%), and Inland Retail Real Estate Trust, Inc (12.07%).

March 7, 2018

What is the combined average total return of the eight ARC REITs that have experienced a full-cycle event?

Answer: The average return of the eight ARC REITs listed below is...

March 7, 2018

During the 10 years between 2000 and 2009, nontraded REITs collectively raised capital in excess of $60 billion. How much capital has been raised since then?

Answer: Nontraded REITs have raised over $80 billion of capital since 2010.

February 28, 2018

Which healthcare-focused nontraded REIT provided its earliest investors with an annualized average rate of return of 9.28% via its 2017 full-cycle liquidity event?

Answer: Sentio Healthcare Properties, Inc. was sold to Kayne Anderson Real Estate Advisors on August 31, 2017 for $14.94 per share, resulting in an average annualized return to early investors of 9.28%, according to Blue Vault’s 5th Edition Nontraded REIT Full-Cycle Performance Study.