SNL Real Estate Report Shows Publicly Traded, Nontraded REITs Active in Acquisitions in 2010

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Nontraded REITs have purchased more properties but spent less on acquisitions than traded REITs year-to-date.

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About two-thirds of the nontraded REIT acquisitions of retail properties were in the single-tenant space. While this helped push the industry's property count higher than the public space, the average price per property was much lower.

According to an analysis of U.S. REITs covered by SNL Real Estate, nontraded REITs have purchased more properties than publicly traded REITs so far in 2010. However, publicly traded REITs have spent approximately 35% more on acquisitions than nontraded REITs.

SNL data shows that, as of July 13, nontraded REITs have purchased 192 properties and spent $5.13 billion in aggregate, based on available pricing information. In comparison, publicly traded REITs have purchased 174 properties and spent approximately $6.95 billion.

According to SNL’s analysis, both traded and nontraded REITs have spent more on office asset acquisitions year-to-date than on any other sector, with aggregate prices totaling $2.41 billion for nontraded REITs and $1.88 billion for traded REITs.

The majority of publicly traded REIT acquisitions have involved health care and office properties, with 33 and 29 purchases, respectively. For nontraded REITs, retail has been the most commonly purchased property type, with 89 acquisitions in the sector.

As Chris Henderson, analyst at SNL Real Estate, explains: “About two-thirds of the nontraded REIT acquisitions of retail properties were in the single-tenant space. While this helped push the industry's property count higher than the public space, the average price per property was much lower.”

This data is available as part of the SNL Information Service. To find out more, contact sales(at)snl(dot)com or 866.296.3743.

About SNL Real Estate
SNL Real Estate, a division of SNL Financial, is the premier provider of data, news and analytics for global real estate securities in North America, Europe and Asia-Pacific. SNL collects, standardizes and disseminates all relevant corporate, financial and market data — plus news and analysis — for real estate securities around the world. Other business sectors covered by parent company SNL Financial include Banking, Financial Services, Insurance, Energy and Media & Communications. For more information, visit http://www.SNL.com.

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