Non-traded real estate investment trusts(NT-REITS) are one of the most popular alternative investment vehicles. NT-REITs can invest in either commercial real estate or mortgages. Investors typically use NT-REITs to help diversify traditional portfolios, adding real estate exposure and a steady income stream. In recent years, several of the world’s largest asset managers have launched real estate products in order to reach a wide range of affluent investors. The table below includes all currently active NT-REITs in the United States. You can sort the table alphabetically, by total assets or by shareholder equity. Additionally, you can also download the data as a spreadsheet or pdf file. To access historical AUM data and detailed competitive intelligence on the non-traded REIT and BDC industry, sign up for an Alternative.Investments Pro Membership
| Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |
|---|---|---|---|---|---|
| Public NT REIT | Blackstone Real Estate Income Trust, Inc. | Diversified | Evergreen | 109,003,938,000 | 21,761,336,000 |
| Public NT REIT | FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Evergreen | 10,820,498,000 | 2,712,913,000 |
| Private NT REIT | Blue Owl Real Estate Net Lease Trust | Real Estate | Evergreen | 7,810,143,000 | 5,306,784,000 |
| Public NT REIT | Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 7,449,757,000 | 1,573,212,000 |
| Public NT REIT | Ares Real Estate Income Trust | Diversified | Evergreen | 5,835,876,000 | 651,798,000 |
| Public NT REIT | JLL Income Property Trust, Inc. | Diversified | Evergreen | 5,349,103,000 | 1,457,397,000 |
| Public NT REIT | Hines Global Income Trust, Inc. | Diversified | Finite | 5,084,999,000 | 1,981,474,000 |
| Public NT REIT | CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 5,044,210,000 | 1,763,360,000 |
| Private NT REIT | Invesco Commercial Real Estate Finance Trust, | Real Estate | Evergreen | 3,700,591,000 | 665,442,000 |
| Private NT REIT | VINEBROOK HOMES TRUST, INC. | Real Estate | Evergreen | 3,100,059,000 | 46,192,000 |
| Public NT REIT | Nuveen Global Cities REIT, Inc. | Diversified | Evergreen | 2,659,997,000 | 1,657,249,000 |
| Public NT REIT | SmartStop Self Storage REIT, Inc. | Self Storage | Finite | 2,302,670,000 | 1,216,584,000 |
| Private NT REIT | FORTRESS CREDIT REALTY INCOME TRUST | Real Estate Debt | Evergreen | 2,028,525,000 | 941,413,000 |
| Public NT REIT | Brookfield Real Estate Income Trust, Inc. | Diversified | Evergreen | 1,997,172,000 | 460,633,000 |
| Private NT REIT | Fortress Net Lease REIT | Net Lease | Evergreen | 1,981,695,000 | 1,057,414,000 |
| Public NT REIT | Starwood Real Estate Income Trust, Inc. | Diversified | Evergreen | 1,936,523,000 | 45,883,860,000 |
| Public NT REIT | KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 1,782,502,000 | 200,838,000 |
| Public NT REIT | National Healthcare Properties, Inc. | Real Estate | Finite | 1,758,896,000 | 647,033,000 |
| Public NT REIT | Cottonwood Communities, Inc. | Multifamily | Evergreen | 1,757,820,000 | 249,203,000 |
| Public NT REIT | Apollo Realty Income Solutions, Inc. | Diversified | Evergreen | 1,578,361,000 | 1,163,434,000 |
| Private NT REIT | North Haven Net REIT | Real Estate | Evergreen | 1,450,387,000 | 797,196,000 |
| Private NT REIT | New Mountain Net Lease Trust | Real Estate | Evergreen | 1,307,661,000 | 341,480,000 |
| Public NT REIT | CNL Healthcare Properties, Inc. | Healthcare | Finite | 1,302,558,000 | 699,482,000 |
| Public NT REIT | Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,265,870,000 | 346,251,000 |
| Private NT REIT | ExchangeRight Income Fund(d/b/a ExchangeRight Essential Income REIT) | Net Lease | Evergreen | 1,257,601,000 | 339,476,000 |
| Public NT REIT | Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Evergreen | 1,159,917,509 | 493,878,625 |
| Public NT REIT | J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Evergreen | 1,140,622,000 | 691,062,000 |
| Private NT REIT | AB Commercial Real Estate Private Debt Fund, LLC | Real Estate | Evergreen | 1,116,000,000 | 338,931,000 |
| Private NT REIT | Starwood Credit Real Estate Income Trust | Real Estate Debt | Evergreen | 1,045,320,000 | 206,651,000 |
| Public NT REIT | Pacific Oak Strategic Opportunity REIT, Inc. | Diversified | Evergreen | 1,012,911,000 | 32,429,000 |
| Public NT REIT | Invesco Real Estate Income Trust Inc. | Diversified | Evergreen | 995,243,000 | 89,427,000 |
| Private NT REIT | Goldman Sachs Real Estate Finance Trust Inc | Real Estate Debt | Evergreen | 757,438,000 | 263,514,000 |
| Private NT REIT | Sculptor Diversified Real Estate Income Trust, | Real Estate | Evergreen | 661,862,000 | 304,911,000 |
| Public NT REIT | InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Evergreen | 616,390,000 | 243,344,000 |
| Public NT REIT | Strategic Storage Trust VI, Inc. | Self Storage | Finite | 539,689,948 | 50,176,050 |
| Public NT REIT | EQT Exeter Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 526,244,000 | -1,029,000 |
| Public NT REIT | Silver Star Properties REIT Inc. | Office & Industrial | Finite | 465,032,000 | 117,976,000 |
| Public NT REIT | Lightstone Value Plus Real Estate Investment Trust V, Inc. | Diversified | Finite | 447,851,000 | 141,489,000 |
| Public NT REIT | RREEF Property Trust, Inc. | Diversified | Evergreen | 388,412,000 | 73,299,000 |
| Public NT REIT | Cohen & Steers Income Opportunities REIT, Inc. | Diversified | Evergreen | 385,573,000 | 172,688,000 |
| Private NT REIT | Principal Credit Real Estate Income Trust | Diversified | Evergreen | 284,571,000 | 295,000 |
| Private NT REIT | Franklin BSP Real Estate Debt, Inc. | Real Estate Debt | Evergreen | 240,366,000 | 74,108,000 |
| Public NT REIT | BGO Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 205,976,120 | 785,230 |
| Public NT REIT | Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 183,612,000 | 76,881,000 |
| Public NT REIT | LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 183,612,000 | 76,881,000 |
| Public NT REIT | Moody National REIT II, Inc. | Hospitality | Finite | 171,203,000 | 4,691,000 |
| Public NT REIT | Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 156,060,044 | 12,037,667 |
| Public NT REIT | Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 141,698,000 | 26,825,000 |
| Private NT REIT | BlackRock Monticello Debt Real Estate Investment Trust | Real Estate Debt | Evergreen | 129,263,000 | 0 |
| Public NT REIT | Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 119,607,000 | 56,791,000 |
| Public NT REIT | StratCap Digital Infrastructure REIT, Inc. | Data Center | Evergreen | 116,648,221 | 56,632,826 |
| Public NT REIT | Hartman vREIT XXI, Inc. | Diversified | Finite | 111,116,000 | 52,213,000 |
| Public NT REIT | PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 107,136,740 | 30,402,171 |
| Public NT REIT | Summit Healthcare REIT, Inc. | Healthcare | Finite | 68,764,000 | 23,951,000 |
| Public NT REIT | Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 60,552,000 | 63,043,000 |
| Public NT REIT | IPC Alternative Real Estate Income Trust, Inc. | Diversified | Evergreen | 7,502,000 | 7,313,000 |
| Private NT REIT | Stirling Hotels & Resorts, Inc. | Real Estate | Evergreen | 165,153 | 164,416 |
| Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |