U.S. REITs raised $17.6 billion from secondary debt and equity offerings in the first quarter of 2024, according to Nareit. That’s up nearly 20% from $14.9 billion in the same timeframe last year, although well short of the quarterly totals seen in 2021.
Of the Q1 2024 total, $12.9 billion came from debt, $3.7 billion came from follow-on common equity offerings and $210 million was raised through preferred equity offerings. One IPO was completed, raising $773 million. ATM program usage data are reported to Nareit on a lagged basis, so the association expects total capital raised to increase when figures are available.
Thus far in 2024, two M&A deals for REITs have been announced, both involving Blackstone Real Estate Income Trust and Blackstone Real Estate Partners X: the $9.2-billion acquisition of Denver-based Apartment Income REIT and an $8.8-billion deal for Canadian residential company Tricon Residential.
In 2023, 11 acquisitions of publicly traded U.S. REITs were announced, raising $44 billion. Of the $263 billion in public REIT M&A deals from 2019-2023, 65% of the transaction value represents deals between listed REITs in the same property sector, according to Nareit.
Pictured: An Alexandria Real Estate Equities campus in South San Francisco.
The post U.S. REIT Fundraising Rises Nearly 20% Y-O-Y in Q1 appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CRE