Search found 8 matches

by CREInvestor1
Tue Jun 12, 2012 12:09 pm
Forum: General Non-Traded REIT Questions & Discussions
Topic: Most nontraded REITs underperform market
Replies: 0
Views: 9027

Most nontraded REITs underperform market

Most nontraded REITs underperform market - Study finds 71% do worse than benchmarks; fees to blame

http://www.investmentnews.com/article/20120610/REG/306109997" onclick="window.open(this.href);return false;
by CREInvestor1
Wed May 30, 2012 9:02 am
Forum: General Non-Traded REIT Questions & Discussions
Topic: Growing Non-Traded REIT Industry
Replies: 18
Views: 30202

Re: Growing Non-Traded REIT Industry

You should do some research on the partnership era - there were huge multi-billion diversified partnerships as well as single asset transactions. The industry was massive and peaked in the late 1980's at an annual fund raising pace that significantly eclipses today's NTREIT industry in inflation-adj...
by CREInvestor1
Mon May 28, 2012 7:33 am
Forum: General Non-Traded REIT Questions & Discussions
Topic: Growing Non-Traded REIT Industry
Replies: 18
Views: 30202

Re: Growing Non-Traded REIT Industry

The non-traded REIT industry is not new, it is just the continuation of the syndicated real estate partnership business that boomed in the 1980's and then collapsed when people started sueing the broker-dealers for selling busted lp's. If you look at the history and background of most of the NTREIT ...
by CREInvestor1
Sun Apr 15, 2012 7:10 am
Forum: Inland REITs
Topic: Former Inland Western IPO pricing this week
Replies: 9
Views: 17167

Re: Former Inland Western IPO pricing this week

Many of the private REITs blame investment timing and the financial crisis for their poor investment performance. This ignores 2 significant facts. 1) not all real estate funds destroyed themselves over the past 5 years 2) based upon most independent research, the commercial real estate market has r...
by CREInvestor1
Thu Apr 05, 2012 5:11 am
Forum: Inland REITs
Topic: Former Inland Western IPO pricing this week
Replies: 9
Views: 17167

Re: Former Inland Western IPO pricing this week

IPO was priced at $8.00/share, or a pre-split adjusted value of $3.20/share. The stock trades under the symbol RPAI.

Inland vaporized more than $3 billion in investor equity in this fund through poor investment, excessive fees, an abusive internalization, and over distribution.
by CREInvestor1
Sun Jan 22, 2012 10:56 am
Forum: Apple REITs & David Lerner
Topic: Four Apple REIT Eight Hotels Hocked At 50% of Cost
Replies: 10
Views: 8377

Re: Four Apple REIT Eight Hotels Hocked At 50% of Cost

Share redemptions are especially damaging to a funds remaining shareholders when they are redeemed at valuations that don't reflect reality. If sponsors aren't being realistic with their NAV's (like many are) it leads to substantial dilution and value erosion over time.
by CREInvestor1
Tue Dec 27, 2011 12:51 pm
Forum: KBS REITs
Topic: KBS Valuation
Replies: 0
Views: 9669

KBS Valuation

KBS REIT II recently issued NAV of $10.11/share. Based on their stated valuation assumptions (discount rate: 7.7%, terminal cap rate: 6.98%, NOI growth rate: 3.58%, valuation holding period: 10 years) I am calculating an implied cap rate of 5.6% to get to a gross NAV of the real estate portfolio of ...
by CREInvestor1
Sat Nov 12, 2011 1:24 pm
Forum: General Non-Traded REIT Questions & Discussions
Topic: Sales Channel
Replies: 0
Views: 2864

Sales Channel

Does anyone have a breakdown of private REIT sales by financial planning company (ie. David Lerner, LPL, Ameriprise, etc.) I'm curious about the market share by distribution channel.