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Morgan Stanley Registers Non-Traded REIT

Morgan Stanley Registers Non-Traded REIT. Alternative investments, financial, Morgan Stanley, North Haven Net REIT, NAV, real estate investment trust,

Morgan Stanley Smith Barney has filed a Form 10 with the Securities and Exchange Commission, registering the firm’s first non-traded real estate investment trust, North Haven Net REIT, a perpetual REIT. They are the latest in a growing list of institutional firms to enter the retail channel with a non-traded REIT, joining the likes of BGO and J.P. Morgan in recent months.

While not yet effective, the REIT’s investment strategy is to create a diversified portfolio of high-quality commercial real estate assets that are primarily long-term leased under net lease structures to tenants for whom the properties are mission critical, meaning essential to the continuance of their business operations. It will seek to “target high quality, credit-worthy tenants whose businesses have strong outlooks and are resilient in the face of economic downturns and quality real estate properties that we believe have the potential to appreciate in value over the long-term by virtue of their sector, physical attributes and market location.”

The property types they intend to target, include, but are not limited to, industrial, manufacturing, warehouse, distribution and research and development, healthcare, and essential retail. They also plan to originate, acquire, finance and manage a portfolio of commercial real estate debt investments diversified across both geography and asset class. Additionally, the filing says that the company intends to hold cash, cash equivalents and other short-term investments.

The REIT will be externally managed by MSREF Real Estate Advisor Inc., a subsidiary of Morgan Stanley that operates through Morgan Stanley Real Estate Investing, which is functionally located within Morgan Stanley Investment Management’s Global Real Assets platform, and has acquired more than $200 billion of gross real estate assets in 39 countries as of June 30, 2023. Primarily focused on global value-add/opportunistic and regional core strategies, MSREI’s range of experience encompasses an array of asset classes, geographic regions and investment strategies across all phases of the real estate cycle. With 17 offices across 12 countries throughout the U.S., Europe and Asia, regional teams of real estate.

As of June 30, 2023, MSREI managed approximately $54 billion of gross real estate assets worldwide on behalf of its clients. Morgan Stanley Investment Management, together with its investment advisory affiliates, has approximately $1.4 trillion in assets under management or supervision as of June 30, 2023.

Morgan Stanley Smith Barney LLC is registered as both a brokerage firm and an investment advisor. The company buys and sells securities such as stocks, bonds, mutual funds, and other investment products, as well as manages investment portfolios and financial planning services.

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