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
| CIK | Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |
|---|---|---|---|---|---|---|
| 1,662,972 | Public NT REIT | Blackstone Real Estate Income Trust, Inc. | Diversified | Evergreen | 98,603,508,000 | 26,527,662,000 |
| 1,711,929 | Public NT REIT | Starwood Real Estate Income Trust, Inc. | Diversified | Evergreen | 18,917,862,000 | 3,886,130,000 |
| 1,690,536 | Public NT REIT | FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Evergreen | 11,759,144,000 | 2,816,706,000 |
| 1,625,941 | Public NT REIT | Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 7,798,427,000 | 1,539,136,000 |
| 1,327,978 | Public NT REIT | Ares Real Estate Income Trust | Diversified | Evergreen | 7,268,524,000 | 655,447,000 |
| 1,585,101 | Public NT REIT | Hines Global Income Trust, Inc. | Diversified | Finite | 5,992,588,000 | 1,978,676,000 |
| 1,314,152 | Public NT REIT | JLL Income Property Trust, Inc. | Diversified | Evergreen | 5,627,379,000 | 134,426,400 |
| 1,498,547 | Public NT REIT | CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 5,095,097,000 | 1,748,162,000 |
| 1,976,927 | Private NT REIT | Invesco Commercial Real Estate Finance Trust, | Real Estate | Evergreen | 4,785,177,000 | 914,643,000 |
| 2,069,692 | Private NT REIT | Blue Owl Digital Infrastructure Trust | Data Center | Evergreen | 4,026,238,000 | 1,566,303,000 |
| 1,966,394 | Private NT REIT | Fortress Net Lease REIT | Net Lease | Evergreen | 3,254,775,000 | 1,331,488,000 |
| 1,755,755 | Private NT REIT | VINEBROOK HOMES TRUST, INC. | Real Estate | Evergreen | 3,150,742,000 | -70,395,000 |
| 2,026,738 | Private NT REIT | FORTRESS CREDIT REALTY INCOME TRUST | Real Estate Debt | Evergreen | 3,055,066,000 | 1,158,147,000 |
| 1,711,799 | Public NT REIT | Nuveen Global Cities REIT, Inc. | Diversified | Evergreen | 2,730,573,000 | 1,711,285,000 |
| 1,585,389 | Public NT REIT | SmartStop Self Storage REIT, Inc. | Self Storage | Finite | 2,432,172,000 | 1,180,410,000 |
| 1,999,784 | Private NT REIT | North Haven Net REIT | Real Estate | Evergreen | 2,362,569,000 | 953,811,000 |
| 1,692,951 | Public NT REIT | Cottonwood Communities, Inc. | Multifamily | Evergreen | 2,190,466,000 | 282,807,000 |
| 1,882,850 | Public NT REIT | Apollo Realty Income Solutions, Inc. | Diversified | Evergreen | 2,081,151,000 | 1,368,892,000 |
| 1,713,407 | Public NT REIT | Brookfield Real Estate Income Trust, Inc. | Diversified | Evergreen | 2,030,537,000 | 703,842,000 |
| 1,561,032 | Public NT REIT | National Healthcare Properties, Inc. | Real Estate | Finite | 1,711,772,000 | 600,064,000 |
| 1,482,430 | Public NT REIT | KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 1,563,109,000 | 177,803,000 |
| 1,893,262 | Public NT REIT | J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Evergreen | 1,503,518,000 | 770,901,000 |
| 2,033,695 | Private NT REIT | New Mountain Net Lease Trust | Real Estate | Evergreen | 1,440,980,000 | 396,891,000 |
| 1,986,395 | Private NT REIT | Starwood Credit Real Estate Income Trust | Real Estate Debt | Evergreen | 1,408,055,000 | 256,071,000 |
| 2,027,537 | Private NT REIT | Goldman Sachs Real Estate Finance Trust Inc | Real Estate Debt | Evergreen | 1,402,707,000 | 382,539,000 |
| 1,528,985 | Public NT REIT | Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,247,928,000 | 325,358,000 |
| 1,771,514 | Private NT REIT | ExchangeRight Income Fund(d/b/a ExchangeRight Essential Income REIT) | Net Lease | Evergreen | 1,239,651,000 | 327,981,000 |
| 1,756,761 | Public NT REIT | Invesco Real Estate Income Trust Inc. | Diversified | Evergreen | 1,200,916,000 | 67,071,000 |
| 1,876,255 | Private NT REIT | AB Commercial Real Estate Private Debt Fund, LLC | Real Estate | Evergreen | 1,184,497,000 | 398,388,000 |
| 1,666,244 | Public NT REIT | Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Evergreen | 1,136,840,647 | 470,336,381 |
| 1,452,936 | Public NT REIT | Pacific Oak Strategic Opportunity REIT, Inc. | Diversified | Evergreen | 884,799,000 | -85,287,000 |
| 1,914,496 | Private NT REIT | Sculptor Diversified Real Estate Income Trust, | Real Estate | Evergreen | 863,056,000 | 385,968,000 |
| 2,049,595 | Private NT REIT | BlackRock Monticello Debt Real Estate Investment Trust | Real Estate Debt | Evergreen | 571,515,000 | 104,515,000 |
| 1,946,997 | Public NT REIT | EQT Exeter Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 541,331,000 | 5,252,000 |
| 1,852,575 | Public NT REIT | Strategic Storage Trust VI, Inc. | Self Storage | Finite | 534,441,184 | 21,813,084 |
| 1,690,012 | Public NT REIT | InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Evergreen | 529,241,000 | 226,248,000 |
| 1,939,433 | Public NT REIT | Cohen & Steers Income Opportunities REIT, Inc. | Diversified | Evergreen | 514,406,000 | 179,236,000 |
| 2,035,428 | Private NT REIT | Franklin BSP Real Estate Debt, Inc. | Real Estate Debt | Evergreen | 497,809,000 | 170,913,000 |
| 1,446,687 | Public NT REIT | Silver Star Properties REIT Inc. | Office & Industrial | Finite | 465,032,000 | 117,976,000 |
| 1,387,061 | Public NT REIT | Lightstone Value Plus Real Estate Investment Trust V, Inc. | Diversified | Finite | 447,012,000 | 129,398,000 |
| 2,026,448 | Private NT REIT | Principal Credit Real Estate Income Trust | Diversified | Evergreen | 398,499,000 | 3,039,000 |
| 1,296,884 | Public NT REIT | Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 387,694,000 | 155,989,000 |
| 1,542,447 | Public NT REIT | RREEF Property Trust, Inc. | Diversified | Evergreen | 372,476,000 | 69,446,000 |
| 1,942,722 | Public NT REIT | BGO Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 197,273,405 | 786,959 |
| 1,436,975 | Public NT REIT | LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 178,650,000 | 60,996,000 |
| 1,698,538 | Public NT REIT | Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 152,918,071 | 8,799,234 |
| 1,619,312 | Public NT REIT | Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 141,559,000 | 17,433,000 |
| 1,563,756 | Public NT REIT | Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 117,161,000 | 42,766,000 |
| 1,868,516 | Public NT REIT | StratCap Digital Infrastructure REIT, Inc. | Data Center | Evergreen | 111,975,098 | 79,265,640 |
| 1,654,948 | Public NT REIT | Hartman vREIT XXI, Inc. | Diversified | Finite | 111,116,000 | 52,213,000 |
| 1,692,345 | Public NT REIT | PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 104,500,000 | 227,645,606 |
| 1,310,383 | Public NT REIT | Summit Healthcare REIT, Inc. | Healthcare | Finite | 69,279,000 | 25,042,000 |
| 1,448,038 | Public NT REIT | Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 59,140,000 | 59,051,000 |
| 1,959,961 | Public NT REIT | IPC Alternative Real Estate Income Trust, Inc. | Diversified | Evergreen | 11,326,000 | 11,021,000 |
| 1,944,366 | Private NT REIT | Blue Owl Real Estate Net Lease Trust | Real Estate | Evergreen | 10,915,409 | 7,016,820 |
| CIK | Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |