U.S. REITs raised $12.2 billion in debt and equity during first quarter 2025, according to Nareit. Of this $12.2 billion, $8.9 came from debt offerings, $2.6 billion came from common equity offerings and $700 million came from preferred equity offerings.
In the final quarter of 2024, REITs saw their largest quarterly capital raising of the year at a total of $8.4 billion.
Merger and acquisition (M&A) activity remained slow, with no new deals announced in the first quarter of 2025, says Nareit. REIT M&A activity has been on a gradual decline since 2022. The past year saw two M&A deals, totaling $12.9 billion in acquisitions of publicly traded U.S. REITs. In 2023, 11 acquisition deals were announced for a total of $44 billion. In 2022, 10 deals were announced for a total of $83 billion.
In fourth quarter 2024, property acquisitions totaled $16.9 billion, and $46.5 billion in acquisitions and $39.1 billion in dispositions were posted. Healthcare, retail
