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What is Ahead for Non-Traded REITs?

SAN DIEGO—Industry expert Kevin Gannon of Robert A. Stranger & Co. said at ADISA’s Spring Symposium opening session that looking ahead, non-traded REIT market conditions should expect initial contraction in fundraising.

Kevin Gannon, president and managing director at Robert A. Stanger & Co. Kevin Gannon, president and managing director at Robert A. Stanger & Co.

SAN DIEGO—“Public markets conditions are volatile with REITs trading at a discount to NAV.” Those thoughts were according to Kevin Gannon, president and managing director at Robert A. Stanger & Co. “Traded REITs are the most vulnerable we have seen. Last year, they were traded at big premiums to net asset value. What non-traded securities do is give you the opportunity to invest without the hot money.”

Gannon served as a presenter during the opening general session at this year’s ADISA 2016 Spring Symposium. According to Gannon, 2015 showed some bright spots, such as the Smart Shop/Extra Space Storage transaction; the Industrial Income Trust/Global Logistics Properties transaction; and the Griffin-American Healthcare REIT/NorthStar Realty transaction. But he noted that the industry also has some issues hanging over the space.

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Natalie Dolce

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.

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