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Non-Listed REIT Acquisitions Top $8 billion in Q4 2013

According to MTS Research Advisors, non-listed REITs acquired over $8 billion worth of commercial real estate (CRE) properties during the fourth quarter of 2013. Property types included medical offices, net lease retail, hotels, apartments, office buildings, and retail shopping centers.

For the year, non-listed REITs amassed a record of over $23 billion in core CRE assets. The analysts from MTS anticipate another active year due to large cash balances and recycled capital from several expected liquidity events.

One of those liquidity events was the listing of American Realty Capital New York Recovery REIT, which listed on the NYSE April 15th and is now known as New York REIT, Inc. (NYSE: “NYRT”). This REIT happens to have been the most active during Q4 of 2013 with over $1.3 billion in acquisitions.

For the top ten acquirers, see the chart below.

Acquisitions ($ in millions) 4Q 2013 FY 2013
American Realty Capital NY Recovery REIT 1,337 1,760
Cole Corporate Income Trust 847 2,054
Griffin Capital Essential REIT 608 851
Cole Credit Property Trust IV 582 1,655
Griffin-American Healthcare REIT 555 1,461
KBS Real Estate Investment Trust III 547 951
Steadfast Income REIT 398 946
Inland American Real Estate Trust 384 1,216
Phillips Edison – ARC Shopping Center REIT 367 913
CNL Healthcare Properties 343 737
Other Non-Listed REITs 3,821 11,100
Total – All Non-Listed REITs 8,452 23,644

This information is reprinted with permission from MTS Research Advisors.

To view the entire MTS Report, click here.