CHARLOTTESVILLE, VA—US equity REITs raised a total of $8.87 billion in capital year-to-date as of March 7, compared to $9.17 billion raised during the same period in 2013, SNL Financial reports. It is a setback from February when REITs beat their own year-over-year record, but not likely to have that much significance over the course of the year.
The capital raised via common equity totaled $1.57 billion, while senior debt offerings generated $7.31 billion through March 7. During the same period in 2013, REITs had raised $4.97 billion from common equity offerings, $2.35 billion from senior debt issuances and $1.85 billion from preferred equity offerings.
Like last month, retail REITs are raising the most capital of all the asset classes, with $3.95 billion. Health care REITs and industrial REITs followed at a distant second and third, with $1.10 billion and $957.2 million raised, respectively.
Single-family REIT Altisource Residential Corp. remains the largest common equity offering for the year. Completed Jan. 15, the offering generated $482.8 million.
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