Non-Traded REIT Directory

by REIT Wrecks on March 3, 2009

Non-traded REITs are public companies, but their shares aren’t listed on any stock exchange. In reality, this makes non-traded REITs a very opaque and private market (not to mention illiquid). REIT Wrecks has decided to pull the curtain on this lack of transparency and compile a list of non-traded REITs and their vital statistics.

If you’re thinking about buying one of these things, do yourself a favor and read this post on Non-Traded REITS first. You can find current information, including earnings analysis, valuation estimates and other related news on the Non-Traded REIT Forum. Click here for an updated list of Non-Traded REITs ranked by total assets

In the meantime, the market is getting crowded. According to Bank of Montreal, there were 44 non-traded REITs operating as of September 2008. As of the end of 2009, there were another $19 billion in non-traded REITs in registration, and nearly $2 billion in still more registrations had been announced as of early 2010.

Non-traded REITs are a unique breed of REIT that investors should investigate carefully before signing any subscription agreements. Many (but not all) REIT dividends in this space are being paid from borrowings and capital – not funds from operations. This is obviously no bueno. This list includes working links to the home page of each REIT, current yields vs. offering yields and current redemption policies, all of which are critical elements in evaluating any investment.

NON TRADED REIT DIRECTORY

Last Update: April 29, 2011
(12/31/2010 K1 data)

click here for a summary of non-traded reit dividend payout ratios

REIT NAME OFFERING YIELD CURRENT YIELD REDEMPTION POLICY
American Realty Capital New York Recovery REIT 6.05% 6.05% 5% of shares outstanding
American Realty Capital Trust 6.5% 7.0% 5% of Shares Outstanding
American Realty Capital Trust II Registration Registration Registration
American Realty Capital Trust III Registration Registration Registration
American Realty Capital – Retail Centers of America Registration Registration Registration
Apple REIT Six 8.2% 7.2% 3% of shares outstanding
Apple REIT Seven 8% 7% 3% of shares outstanding
Apple REIT Eight 8% 7% 3% of shares outstanding
Apple REIT Nine 8% 8% 3% of shares outstanding
Apple REIT Ten Registration Registration Registration
Behringer Harvard REIT I 6.5% 1.0% Not Even if You’re Dead Update: Corpses are collectively limited to $4.25 million per year in redemptions. To ensure eligibility, please die in Q1.
Behringer Harvard Multi-Family REIT I 7% 6.0% DRIP Proceeds plus 1% of operating cash flow
Behringer Harvard Opportunity REIT I 6.5% 1.0% Suspended
Bluerock Enhanced Multi-Family Trust 7% 7% 5% of shares outstanding
Carey Watermark Inc.’ Escrow Escrow Escrow
Carter Validus Mission Critical REIT Escrow Escrow Escrow
Clarion Properties Trust Registration Registration Registration
CM REIT Registration Registration Registration
CNL Lifestyle Properties 6.15% 6.25% 5% of shares outstanding
CNL Diversified Lifestyle Properties Registration Registration Registration
CNL Macquarie Global Growth Trust 8% 8% 5% of shares outstanding
CNL Macquarie Global Income Trust 6.5% 6.5% 5% of shares outstanding
Cole Advisor Corporate Income Trust Registration Registration Registration
Cole Advisor Retail Income REIT Registration Registration Registration
Cole Credit Property Trust 7% 5% Suspended
Cole Credit Property Trust II 7% 6.25% Suspended
Cole Credit Property Trust III 6.75% 6.5% <DRIP proceeds or 5% of shares outstanding
Cornerstone Core Properties REIT 4.8% 0.8% <DRIP proceeds or 5% of shares outstanding
Cornerstone Healthcare Plus REIT (f/k/a Cornerstone Growth & Income REIT) 5.6% 7.5% 5% of shares outstanding
Corporate Income Properties – ARC, Inc Registration Registration Registration
Desert Capital 9% Suspended Suspended
Dividend Capital Total Realty Trust 6% 6% <DRIP proceeds or 1.25% of shares outstanding
Empire American Realty Trust Escrow Escrow Escrow
GC Net Lease REIT 6.75% 6.75% 5% of shares outstanding
Grubb & Ellis Apartment REIT 7% 6% Suspended
Grubb & Ellis Healthcare REIT II 6.5% 6.5% 5% of shares outstanding
Hartman REIT Short Term XX Escrow Escrow <DRIP proceeds plus 1% of cash flow or 5% of shares outstanding
Healthcare Trust of America (f/k/a Grubb & Ellis Healthcare REIT) 7.25% 7.25% 5% of shares outstanding
Hines REIT 6% 5.50% Suspended
Hines Global REIT 7% 7% 5% of shares outstanding
Income Property Trust of Americas Registration Registration Registration
Industrial Income Trust 6.25% 6.25% 5% of shares outstanding
Inland American
6% 5% Suspended
Inland Diversified 6% 6% 3% of shares outstanding
Inland Western 7% 2.00% Suspended
KBS REIT I 7% 5.25% Suspended
KBS REIT II 6.5% 6.5% 5% of shares outstanding
KBS REIT III Escrow Escrow Escrow
KBS Legacy Apartment Properties Escrow Escrow Escrow
KBS Strategic Opportunity REIT Escrow Escrow Escrow
Lightstone Value Plus REIT 7% 7% 2% of shares outstanding
Lightstone Value Plus REIT II 6.5% 6.5% 2% of shares outstanding
Moody National REIT I 8% 8% 5% of shares outstansing
NorthEnd Income Properties Trust Registration Registration Registration
Northstar Real Estate Income Trust Escrow Escrow Escrow
Northstar Senior Care Trust Registration Registration Registration
O’Donnell Strategic Gateway REIT Registration Registration Registration
Pacific Office Properties 7.25% 7.25% Listed Common Stock after 5 years
Paladin Realty Income Securities 6% 6% 10% of shares outstanding
Phillips Edison – ARC Shopping Center REIT Escrow Escrow Escrow
Piedmont REIT (formerly Wells REIT) Publicly listed Publicly listed Publicly listed
Prime Group Realty Trust 6% 0% Suspended
Prime Realty Income Trust Registration Registration Registration
Resource Real Estate Opportunity REIT Escrow Escrow Escrow
Shopoff Properties Trust None None None
Strategic Storage Trust 7% 7% 5% of shares outstanding
TNP Strategic Retail Trust 6.75% 7% <DRIP proceeds or 5% of shares outstanding
W.P. Carey CPA 14 Merged into CPA 16 Merged into CPA 16 Merged into CPA 16
W.P. Carey CPA 15 6% 7.25% Suspended
W.P. Carey CPA 16 6% 6.6% 5% of shares outstanding
W.P. Carey CPA 17 6.29% 6.40% 5% of shares outstanding
Wells Core Office Income REIT 5% 5% <DRIP proceeds or 5% of shares outstanding
Wells REIT II 6% 6% <DRIP proceeds or 5% of shares outstanding – But only at 60% of original cost
Wells Timberland REIT 2% 2% <DRIP proceeds or 5% of shares outstanding – 91% of original cost
Whitestone REIT Publicly listed Publicly listed Publicly listed

 

See also the REIT Definition post, which provides more information on how REITs work.

Click here for a list of Apartment REITs
Click here for a list of Healthcare REITs
Click here for a list of Hotel REITs
Click here for a list of Industrial REITs
Click here for a list of Office REITs
Click here for a list of Retail REITs
Click here for a list of Storage REITs
Click here for a list of REIT Funds

Click here for a REIT ETF List
Click here for a list of all REITs
Click here for a list of REITs paying dividends in stock

REIT Stocks

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