Real Estate - AUGUST 13, 2020

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Nonlisted REIT fundraising plateaus in July at $430m

by Released

Nonlisted REIT fundraising totaled $430 million in July 2020, off slightly from last month, but up 74 percent from the market low of $247 million in May, reported Robert A. Stanger & Co.

Through July 2020, investment in nonlisted REITs totaled $7.1 billion, up 33 percent from the same period of 2019. However, the year 2020 began with nonlisted REIT fundraising on a record-breaking pace of approximately $2.4 billion per month through February, before the brakes were applied in March with the outbreak of the pandemic. Fundraising continued to slow through May, declining about 90 percent from early in the year. In June, monthly fundraising climbed back to the mid-$400 million range and it appears to have plateaued there in July. “We currently expect non-listed REIT investment to slowly grow in the coming months, resulting in 2020 fundraising of about $12 billion, level with 2019,” said Kevin Gannon, chairman and CEO of Robert A. Stanger & Co.

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