Research - NOVEMBER 16, 2020

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Non-listed REITs raise $656m in October

by Robert A. Stanger & Company

Non-listed REIT fundraising continued to uptick last month. October 2020 non-listed REIT sales totaled $656 million, an 8.3 percent increase from $606 million in September.

Year-to-date through October 2020, investment in non-listed REITs totals $8.818 billion, up slightly from the same period 2019 total of $8.771 billion. “The recovery of non-listed REIT fundraising has been consistent with our 2020 projection of $10 billion,” said Kevin Gannon, chairman and CEO of Robert A. Stanger & Co., Inc. “We anticipate a strong finish to 2020 for the alternative investment space.”

The graph below illustrates the effect of COVID-19 on non-listed REIT fundraising this year. After record fundraising months in January ($2.4 billion) and February ($2.5 billion), fundraising declined to $763 million in March. Fundraising continued downward until bottoming in May ($247 million) and marking its first uptick in June ($454 million). Following a plateau in July and August, fun

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