Nontraded REITs raise $2.4b in February, setting industry record

Nontraded REITs raised $2.467 billion in February, up 325 percent from $581 million in February 2019, setting a new high-water mark for monthly sales, reported Robert A. Stanger & Co., an investment banking firm specializing in providing investment banking, financial advisory, fairness opinion, and asset and securities valuation services to partnerships, REITs, and real estate advisory and management companies.

Once again Blackstone Group’s Blackstone Real Estate Income Trust ($1.818 billion in February) was the primary force behind the numbers. In only two months, 2020 non-traded REIT fundraising totals $4.873 billion, already $200 million more than 2018 in its entirety.

“Last month Stanger upped its projected 2020 nontraded REIT fundraising estimate to $20 billion,” said Kevin Gannon, chairman and CEO of Stanger. “With two consecutive record months to start off the year, it’s hard to predict how high fundraising might go, as institutional-quality entran