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 | 138,046,624,000 | 43,750,766,000 |
| Starwood Real Estate Income Trust, Inc. | Diversified | Perpetual | 25,377,131,000 | 8,559,772,000 |
| FS Credit Real Estate Income Trust, Inc. | Real Estate Debt | Perpetual | 8,686,017,000 | 2,630,503,000 |
| Ares Industrial Real Estate Income Trust, Inc. | Office & Industrial | Perpetual | 7,242,902,000 | 2,264,127,000 |
| CIM REAL ESTATE FINANCE TRUST, INC. | Retail/Net Lease | Finite | 6,664,606,000 | 2,432,207,000 |
| JLL Income Property Trust, Inc. | Diversified | Perpetual | 5,236,468,000 | 1,979,575,000 |
| American Healthcare REIT Inc. | Healthcare | Finite | 4,666,384,000 | 1,335,774,000 |
| Ares Real Estate Income Trust | Diversified | Perpetual | 4,284,491,000 | 711,613,000 |
| Hines Global Income Trust, Inc. | Diversified | Finite | 3,752,670,000 | 2,039,100,000 |
| Nuveen Global Cities REIT, Inc. | Diversified | Perpetual | 2,661,736,000 | 1,779,638,000 |
| Healthcare Trust, Inc. | Healthcare | Finite | 2,185,277,000 | 952,918,000 |
| Sila Realty Trust, Inc. | Healthcare | Finite | 2,180,251,000 | 1,535,863,000 |
| KBS Real Estate Investment Trust III, Inc. | Diversified | Finite | 2,154,662,000 | 276,987,000 |
| Brookfield Real Estate Income Trust, Inc. | Diversified | Perpetual | 2,119,775,000 | 927,975,000 |
| Cottonwood Communities, Inc. | Multifamily | Perpetual | 1,926,136,000 | 269,095,000 |
| SmartStop Self Storage REIT, Inc. | Self Storage | Finite | 1,894,112,406 | 437,401,364 |
| KKR Real Estate Select Trust Inc. | Real Estate | Perpetual | 1,605,730,297 | 1,590,144,888 |
| RREEF Property Trust, Inc. | Diversified | Perpetual | 1,562,384,000 | 169,802,000 |
| Fundrise Real Estate Interval Fund, LLC | Diversified | Perpetual | 1,428,146,990 | 1,422,044,914 |
| Pacific Oak Strategic Opportunity REIT, Inc. | Diversified | Perpetual | 1,414,576,000 | 333,244,000 |
| CNL Healthcare Properties, Inc. | Healthcare | Finite | 1,391,760,000 | 769,630,000 |
| Inland Real Estate Income Trust, Inc. | Diversified | Finite | 1,378,442,000 | 436,897,000 |
| Cantor Fitzgerald Income Trust, Inc. | Retail/Net Lease | Perpetual | 1,153,632,731 | 595,232,013 |
| NorthStar Healthcare Income, Inc. | Healthcare | Finite | 1,145,640,000 | 217,597,000 |
| Invesco Real Estate Income Trust Inc. | Diversified | Perpetual | 1,031,392,000 | 95,974,000 |
| InPoint Commercial Real Estate Income, Inc. | Real Estate Debt | Perpetual | 854,391,000 | 253,647,000 |
| Fundrise Income Real Estate Fund, LLC | Diversified | Perpetual | 581,645,443 | 566,524,134 |
| Strategic Storage Trust VI, Inc. | Self Storage | Finite | 566,032,060 | 109,418,396 |
| Lightstone Value Plus Real Estate Investment Trust, Inc. | Diversified | Finite | 486,233,000 | 207,127,000 |
| 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 | 427,761,000 | 129,147,000 |
| Moody National REIT II, Inc. | Hospitality | Finite | 421,106,000 | 122,792,000 |
| Apollo Realty Income Solutions, Inc. | Diversified | Perpetual | 311,201,000 | 198,918,000 |
| J.P. Morgan Real Estate Income Trust, Inc. | Diversified | Perpetual | 245,717,000 | 59,148,000 |
| LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INC | Diversified | Finite | 234,286,000 | 95,213,000 |
| MacKenzie Realty Capital, Inc. | Diversified | Finite | 227,326,951 | 89,188,721 |
| Summit Healthcare REIT, Inc. | Healthcare | Finite | 210,252,000 | 19,081,000 |
| Strategic Student & Senior Housing Trust, Inc. | Senior Housing | Finite | 205,827,962 | 5,383,764 |
| Lightstone Value Plus REIT IV, Inc. | Diversified | Finite | 146,096,127 | 35,908,953 |
| Lightstone Value Plus Real Estate Investment Trust III, Inc. | Hospitality | Finite | 137,608,000 | 59,871,000 |
| PROCACCIANTI HOTEL REIT, INC. | Hospitality | Finite | 112,079,205 | 34,726,949 |
| Hartman vREIT XXI, Inc. | Diversified | Finite | 111,853,000 | 52,564,000 |
| KBS Growth & Income REIT, Inc. | Diversified | Finite | 109,134,000 | 1,398,000 |
| Redwood Mortgage Investors IX, LLC | Real Estate Debt | Finite | 78,094,000 | 67,054,000 |
| Forum Real Estate Income Fund | Real Estate Debt | Perpetual | 72,852,775 | 58,034,850 |
| PGIM Private Real Estate Fund, Inc. | Diversified | Perpetual | 50,246,771 | 49,984,225 |
| CrowdStreet REIT I | Diversified | Perpetual | 43,893,232 | 42,617,167 |
| Strategic Realty Trust, Inc. | Retail/Net Lease | Finite | 34,330,000 | 15,546,000 |
| Stone Ridge Residential Real Estate Income Fund I, Inc. | Single Family Residential | Perpetual | 0 | 0 |
| REIT | Category | Term | Current Total Assets | Shareholder's Equity |