Fundraising for Delaware statutory trust (DST) offerings has reached nearly $826.3 million, as of September 2025, according to data from Mountain Dell Consulting. This marks a 50 percent increase from the $552.6 million raised in the prior month. Mountain Dell expects DST fundraising to reach $7.5 billon by the year’s end.
Since the beginning of the year, equity raised has reached $5.8 billion through the third quarter, marking a 46.6 percent increase from the $3.9 billion raised by the end of September 2024.
Within the product categories, industrial offerings led with $158.2 million in equity raised, retail followed with $86 million and multifamily-focused offerings raised $73.9 million. There were 53 active sponsors offering 93 active programs by the end of September, with more than $2.3 billion available.
Among DST sponsors, Ares Real Estate raised the greatest amount, with more than $1.1 billion raised year-to-date, followed by Hines Real Estate Exchange w
