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
All Active NT REITs 2026Q1
| Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |
|---|---|---|---|---|---|
| Public NT REIT | Blackstone Real Estate Income Trust, Inc. | Diversified | Evergreen | 93,596,539,000 | 18,324,273,000 |
| Public NT REIT | Starwood Real Estate Income Trust, Inc. | Diversified | Evergreen | 18,744,559,000 | 3,582,693,000 |
| Private NT REIT | Blue Owl Real Estate Net Lease Trust | Net Lease | Evergreen | 11,767,323,000 | 7,731,517,000 |
| Public NT REIT | FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Evergreen | 11,653,816,000 | 2,797,445,000 |
| Public NT REIT | Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 7,765,134,000 | 1,473,548,000 |
| Public NT REIT | Ares Real Estate Income Trust | Diversified | Evergreen | 7,480,613,000 | 691,640,000 |
| Public NT REIT | Hines Global Income Trust, Inc. | Diversified | Finite | 5,927,634,000 | 2,048,077,000 |
| Public NT REIT | JLL Income Property Trust, Inc. | Diversified | Evergreen | 5,529,616,000 | 1,306,173,000 |
| Private NT REIT | Invesco Commercial Real Estate Finance Trust, | Real Estate Debt | Evergreen | 5,334,903,000 | 1,028,518,000 |
| Public NT REIT | CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 4,725,560,000 | 1,750,207,000 |
| Private NT REIT | Blue Owl Digital Infrastructure Trust | Data Center | Evergreen | 4,118,710,000 | 1,669,028,000 |
| Private NT REIT | Fortress Net Lease REIT | Net Lease | Evergreen | 3,477,286,000 | 1,469,968,000 |
| Private NT REIT | FORTRESS CREDIT REALTY INCOME TRUST | Real Estate Debt | Evergreen | 3,167,686,000 | 1,237,504,000 |
| Private NT REIT | VINEBROOK HOMES TRUST, INC. | Multifamily | Evergreen | 3,077,849,000 | -125,408,000 |
| Public NT REIT | Nuveen Global Cities REIT, Inc. | Diversified | Evergreen | 2,823,339,000 | 1,698,497,000 |
| Private NT REIT | North Haven Net REIT | Net Lease | Evergreen | 2,633,634,000 | 1,072,768,000 |
| Public NT REIT | Cottonwood Communities, Inc. | Multifamily | Evergreen | 2,161,682,000 | 285,287,000 |
| Public NT REIT | Apollo Realty Income Solutions, Inc. | Diversified | Evergreen | 2,118,198,000 | 1,444,028,000 |
| Public NT REIT | Brookfield Real Estate Income Trust, Inc. | Diversified | Evergreen | 2,104,175,000 | 667,412,000 |
| Private NT REIT | Goldman Sachs Real Estate Finance Trust Inc | Real Estate Debt | Evergreen | 1,891,871,000 | 470,777,000 |
| Private NT REIT | Starwood Credit Real Estate Income Trust | Real Estate Debt | Evergreen | 1,588,119,000 | 304,504,000 |
| Public NT REIT | J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Evergreen | 1,573,595,000 | 803,312,000 |
| Public NT REIT | KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 1,515,865,000 | 165,754,000 |
| Private NT REIT | New Mountain Net Lease Trust | Net Lease | Evergreen | 1,445,176,000 | 466,202,000 |
| Private NT REIT | ExchangeRight Income Fund(d/b/a ExchangeRight Essential Income REIT) | Net Lease | Evergreen | 1,397,043,000 | 325,787,000 |
| Private NT REIT | AB Commercial Real Estate Private Debt Fund, LLC | Real Estate Debt | Evergreen | 1,369,324,000 | 394,370,000 |
| Public NT REIT | Invesco Real Estate Income Trust Inc. | Diversified | Evergreen | 1,301,417,000 | 45,879,000 |
| Public NT REIT | Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,238,880,000 | 320,003,000 |
| Public NT REIT | Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Evergreen | 1,122,806,577 | 464,312,194 |
| Private NT REIT | Sculptor Diversified Real Estate Income Trust, | Real Estate Debt | Evergreen | 928,942,000 | 462,988,000 |
| Private NT REIT | BlackRock Monticello Debt Real Estate Investment Trust | Real Estate Debt | Evergreen | 802,631,000 | 156,227,000 |
| Private NT REIT | Franklin BSP Real Estate Debt, Inc. | Real Estate Debt | Evergreen | 753,699,000 | 196,944,000 |
| Public NT REIT | EQT Exeter Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 544,361,000 | -925,000 |
| Public NT REIT | Cohen & Steers Income Opportunities REIT, Inc. | Diversified | Evergreen | 528,893,000 | 204,868,000 |
| Public NT REIT | Strategic Storage Trust VI, Inc. | Self Storage | Finite | 523,995,690 | 6,027,765 |
| Public NT REIT | InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Evergreen | 513,399,000 | 217,464,000 |
| Private NT REIT | Rithm Perpetual Life Residential | Multifamily | Evergreen | 482,926,000 | 107,011,000 |
| 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 | 452,848,000 | 95,733,000 |
| Private NT REIT | Principal Credit Real Estate Income Trust | Diversified | Evergreen | 383,964,000 | 6,682,000 |
| Public NT REIT | Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 381,852,000 | 150,733,000 |
| Public NT REIT | RREEF Property Trust, Inc. | Diversified | Evergreen | 337,030,000 | 71,981,000 |
| Public NT REIT | BGO Industrial Real Estate Income Trust, Inc. | Office & Industrial | Evergreen | 197,273,405 | 786,959 |
| Public NT REIT | LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 169,717,000 | 51,893,000 |
| Public NT REIT | Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 152,321,356 | 8,116,726 |
| Public NT REIT | Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 138,125,000 | 14,451,000 |
| Public NT REIT | Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 114,930,000 | 39,474,000 |
| Public NT REIT | Hartman vREIT XXI, Inc. | Diversified | Finite | 111,116,000 | 52,213,000 |
| Public NT REIT | PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 102,254,584 | 24,823,898 |
| Public NT REIT | StratCap Digital Infrastructure REIT, Inc. | Data Center | Evergreen | 99,647,303 | 71,268,713 |
| Public NT REIT | Summit Healthcare REIT, Inc. | Healthcare | Finite | 68,360,000 | 23,855,000 |
| Public NT REIT | Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 60,768,000 | 58,551,000 |
| Private NT REIT | CNL Strategic Residential Credit, Inc. | Real Estate Debt | Evergreen | 47,149,382 | 24,882,678 |
| Public NT REIT | IPC Alternative Real Estate Income Trust, Inc. | Diversified | Evergreen | 11,935,000 | 11,551,000 |
| Private NT REIT | FBRED-C Feeder REIT Trust | Diversified | Evergreen | 1,020 | 1,020 |
| Private NT REIT | Nuveen Farmland REIT | Farmland | Evergreen | 1 | 0 |
| Private NT REIT | HPS Net Lease Income REIT | Net Lease | Evergreen | 0 | 0 |
| Private or Public | REIT | Category | Term | Current Total Assets | Shareholder's Equity |