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
| REIT | Category | Term | Current Total Assets | Shareholder's Equity |
|---|---|---|---|---|
| Blackstone Real Estate Income Trust, Inc. | Diversified | Perpetual | 129,746,243,000 | 33,486,596,000 |
| Starwood Real Estate Income Trust, Inc. | Diversified | Perpetual | 22,690,825,000 | 6,508,616,000 |
| FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Perpetual | 9,467,508,000 | 2,792,512,000 |
| Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 7,362,070,000 | 1,763,538,000 |
| CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 6,324,493,000 | 2,184,062,000 |
| JLL Income Property Trust, Inc. | Diversified | Perpetual | 5,263,561,000 | 1,824,081,000 |
| Ares Real Estate Income Trust | Diversified | Perpetual | 4,681,667,000 | 767,077,000 |
| Hines Global Income Trust, Inc. | Diversified | Finite | 3,921,991,000 | 1,901,080,000 |
| Nuveen Global Cities REIT, Inc. | Diversified | Perpetual | 2,566,270,000 | 1,669,216,000 |
| KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 2,007,901,000 | 304,984,000 |
| Healthcare Trust, Inc. | Healthcare | Finite | 2,133,698,000 | 877,685,000 |
| Sila Realty Trust, Inc. | Healthcare | Finite | 2,094,314,000 | 1,492,507,000 |
| Brookfield Real Estate Income Trust, Inc. | Diversified | Perpetual | 1,942,792,000 | 762,669,000 |
| Cottonwood Communities, Inc. | Multifamily | Perpetual | 1,964,704,000 | 218,725,000 |
| SmartStop Self Storage REIT, Inc. | Self Storage | Finite | 1,886,396,623 | 384,774,002 |
| RREEF Property Trust, Inc. | Diversified | Perpetual | 1,559,637,000 | 125,624,000 |
| Pacific Oak Strategic Opportunity REIT, Inc. | Diversified | Perpetual | 1,214,633,000 | 185,676,000 |
| CNL Healthcare Properties, Inc. | Healthcare | Finite | 1,345,400,000 | 737,566,000 |
| Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,337,963,000 | 405,868,000 |
| KKR Real Estate Select Trust Inc. | Real Estate | Perpetual | 1,340,765,462 | 1,333,552,150 |
| Fundrise Real Estate Interval Fund, LLC | Diversified | Perpetual | 1,194,773,344 | 1,190,400,928 |
| Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Perpetual | 1,130,534,447 | 532,600,640 |
| NorthStar Healthcare Income, Inc. | Healthcare | Finite | 1,037,131,000 | 125,013,000 |
| Invesco Real Estate Income Trust Inc. | Diversified | Perpetual | 979,773,000 | 95,789,000 |
| InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Perpetual | 756,592,000 | 249,277,000 |
| Fundrise Income Real Estate Fund, LLC | Diversified | Perpetual | 612,456,565 | 598,395,072 |
| Apollo Realty Income Solutions, Inc. | Diversified | Perpetual | 705,894,000 | 533,017,000 |
| Strategic Storage Trust VI, Inc. | Self Storage | Finite | 554,300,666 | 85,847,887 |
| Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 474,368,000 | 193,945,000 |
| Silver Star Properties REIT Inc. | Office & Industrial | Finite | 465,032,000 | 117,976,000 |
| Lightstone Value Plus Real Estate Investment Trust V, Inc. | Diversified | Finite | 449,819,000 | 156,075,000 |
| Moody National REIT II, Inc. | Hospitality | Finite | 412,353,000 | 105,759,000 |
| J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Perpetual | 365,300,000 | 127,556,000 |
| BGO Industrial Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 225,045,495 | 641,244 |
| LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 203,071,000 | 93,155,000 |
| MacKenzie Realty Capital, Inc. | Diversified | Finite | 226,085,826 | 86,309,632 |
| Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 199,513,571 | -2,671,191 |
| Summit Healthcare REIT, Inc. | Healthcare | Finite | 202,403,000 | 13,276,000 |
| Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 141,894,197 | 36,440,899 |
| Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 125,012,000 | 63,981,000 |
| Forum Real Estate Income Fund | Real Estate Debt | Perpetual | 113,470,596 | 94,268,203 |
| PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 108,839,234 | 32,474,766 |
| Hartman vREIT XXI, Inc. | Diversified | Finite | 111,853,000 | 52,564,000 |
| PGIM Private Real Estate Fund, Inc. | Diversified | Perpetual | 88,083,474 | 87,804,712 |
| Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 65,019,000 | 67,595,000 |
| KBS Growth & Income REIT, Inc. | Diversified | Finite | 38,732,000 | 1,063,000 |
| CrowdStreet REIT I | Diversified | Perpetual | 38,446,263 | 37,292,287 |
| Strategic Realty Trust, Inc. | Retail/Net Lease | Finite | 27,422,000 | 4,273,000 |
| Cohen & Steers Income Opportunities REIT, Inc. | Diversified | Perpetual | 51,109,000 | 40,107,000 |
| EQT Exeter Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 67,624,634 | -2,098,485 |
| IPC Alternative Real Estate Income Trust, Inc. | Diversified | Perpetual | 2,764,000 | 2,754,000 |
| REIT | Category | Term | Current Total Assets | Shareholder's Equity |