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REITs raised more than $17b through debt, equity offerings in Q1 2024
Research - MAY 3, 2024

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REITs raised more than $17b through debt, equity offerings in Q1 2024

by Andrea Zander

U.S. REITs raised $17.6 billion from secondary debt and equity offerings in first quarter 2024. They raised $12.9 billion from debt, $3.7 billion from follow-on common equity offerings, and $210 million through preferred equity offerings, according to a recent Nareit market commentary blog.

One IPO was completed, raising $773 million. ATM program usage data are reported to Nareit on a lagged basis, so the total capital raised is expected to increase when available. In fourth quarter 2023, REITs raised $6.7 billion through at-the-market equity offerings. Nareit’s historical capital offerings summary can be found here.

In 2024, an investor group made up of Blackstone Real Estate Income Trust and Blackstone Real Estate Partners X announced deals to

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