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
| Type | CIK | REIT | Category | Term | Total Assets(MRQ) | Shareholder's Equity(MRQ) |
|---|---|---|---|---|---|---|
| Public NT REIT | 1,662,972 | Blackstone Real Estate Income Trust, Inc. | Diversified | Perpetual | 119,592,691,000 | 27,832,111,000 |
| Public NT REIT | 1,711,929 | Starwood Real Estate Income Trust, Inc. | Diversified | Perpetual | 21,682,048,000 | 5,535,172,000 |
| Public NT REIT | 1,690,536 | FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Perpetual | 10,197,443,000 | 2,758,719,000 |
| Public NT REIT | 1,625,941 | Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 7,401,186,000 | 1,567,913,000 |
| Public NT REIT | 1,498,547 | CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 5,365,847,000 | 1,838,751,000 |
| Public NT REIT | 1,314,152 | JLL Income Property Trust, Inc. | Diversified | Perpetual | 5,365,847,000 | 1,838,751,000 |
| Public NT REIT | 1,327,978 | Ares Real Estate Income Trust | Diversified | Perpetual | 5,061,382,000 | 734,159,000 |
| Public NT REIT | 1,585,101 | Hines Global Income Trust, Inc. | Diversified | Finite | 4,050,674,000 | 1,840,251,000 |
| Public NT REIT | 1,711,799 | Nuveen Global Cities REIT, Inc. | Diversified | Perpetual | 2,550,897,000 | 1,641,024,000 |
| Public NT REIT | 1,482,430 | KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 1,958,919,000 | 237,821,000 |
| Public NT REIT | 1,692,951 | Cottonwood Communities, Inc. | Multifamily | Perpetual | 1,954,601,000 | 232,782,000 |
| Public NT REIT | 1,585,389 | SmartStop Self Storage REIT, Inc. | Self Storage | Finite | 1,937,206,000 | 343,876,000 |
| Public NT REIT | 1,713,407 | Brookfield Real Estate Income Trust, Inc. | Diversified | Perpetual | 1,867,901,000 | 672,811,000 |
| Public NT REIT | 1,496,454 | CNL Healthcare Properties, Inc. | Healthcare | Finite | 1,335,306,000 | 720,072,000 |
| Public NT REIT | 1,528,985 | Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,303,149,000 | 374,008,000 |
| Private NT REIT | 1,771,514 | ExchangeRight Income Fund(d/b/a ExchangeRight Essential Income REIT) | Net Lease | Perpetual | 1,172,510,000 | 519,535,000 |
| Public NT REIT | 1,882,850 | Apollo Realty Income Solutions, Inc. | Diversified | Perpetual | 1,160,734,000 | 792,085,000 |
| Public NT REIT | 1,503,707 | NorthStar Healthcare Income, Inc. | Healthcare | Finite | 1,152,040,000 | 239,429,000 |
| Public NT REIT | 1,666,244 | Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Perpetual | 1,147,773,282 | 503,297,807 |
| Public NT REIT | 1,452,936 | Pacific Oak Strategic Opportunity REIT, Inc. | Diversified | Perpetual | 1,109,310,000 | 95,360,000 |
| Public NT REIT | 1,756,761 | Invesco Real Estate Income Trust Inc. | Diversified | Perpetual | 992,855,000 | 78,992,000 |
| Private NT REIT | 1,986,395 | Starwood Credit Real Estate Income Trust | Real Estate Debt | Perpetual | 812,291,000 | 145,789,000 |
| Private NT REIT | 1,966,394 | Fortress Net Lease REIT | Net Lease | Perpetual | 786,949,000 | 626,278,000 |
| Public NT REIT | 1,690,012 | InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Perpetual | 727,868,000 | 245,554,000 |
| Public NT REIT | 1,852,575 | Strategic Storage Trust VI, Inc. | Self Storage | Finite | 551,838,108 | 68,899,054 |
| Public NT REIT | 1,893,262 | J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Perpetual | 473,672,000 | 166,870,000 |
| Public NT REIT | 1,446,687 | Silver Star Properties REIT Inc. | Office & Industrial | Finite | 465,032,000 | 117,976,000 |
| Public NT REIT | 1,296,884 | Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 448,470,000 | 166,545,000 |
| Public NT REIT | 1,387,061 | Lightstone Value Plus Real Estate Investment Trust V, Inc. | Diversified | Finite | 436,486,000 | 137,855,000 |
| Public NT REIT | 1,542,447 | RREEF Property Trust, Inc. | Diversified | Perpetual | 402,192,000 | 105,746,000 |
| Public NT REIT | 1,615,222 | Moody National REIT II, Inc. | Hospitality | Finite | 371,049,000 | 57,019,000 |
| Public NT REIT | 1,946,997 | EQT Exeter Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 359,011,483 | -3,531,908 |
| Public NT REIT | 1,942,722 | BGO Industrial Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 217,252,732 | 785,931 |
| Public NT REIT | 1,310,383 | Summit Healthcare REIT, Inc. | Healthcare | Finite | 201,607,000 | 24,560,000 |
| Public NT REIT | 1,436,975 | LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 197,112,000 | 87,760,000 |
| Public NT REIT | 1,698,538 | Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 163,165,643 | 19,383,190 |
| Public NT REIT | 1,619,312 | Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 146,785,340 | 32,799,552 |
| Public NT REIT | 1,939,433 | Cohen & Steers Income Opportunities REIT, Inc. | Diversified | Perpetual | 145,736,000 | 56,452,000 |
| Public NT REIT | 1,563,756 | Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 124,611,000 | 50,727,000 |
| Public NT REIT | 1,857,314 | Forum Real Estate Income Fund | Real Estate Debt | Perpetual | 113,470,596 | 94,268,203 |
| Public NT REIT | 1,654,948 | Hartman vREIT XXI, Inc. | Diversified | Finite | 111,853,000 | 52,564,000 |
| Public NT REIT | 1,692,345 | PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 109,590,972 | 33,767,555 |
| Public NT REIT | 1,448,038 | Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 75,805,000 | 66,964,000 |
| Public NT REIT | 1,446,371 | Strategic Realty Trust, Inc. | Retail/Net Lease | Finite | 15,349,000 | 4,127,000 |
| Public NT REIT | 1,959,961 | IPC Alternative Real Estate Income Trust, Inc. | Diversified | Perpetual | 3,120,000 | 3,101,000 |
| Type | CIK | REIT | Category | Term | Total Assets(MRQ) | Shareholder's Equity(MRQ) |