Shrewsbury, New Jersey, April 28, 2025 – Robert A. Stanger & Company, Inc., a nationally recognized leader in non-listed alternative investment products, today released its Q1 2025 Non-Listed REIT edition of The Stanger Report, complete with individual performance data, in-depth company profiles, and comprehensive insights on non-traded NAV and Lifecycle REITs.
In Q1 2025, the Stanger NAV REIT Total Return Index achieved a 3-month return of 1.2%, slightly trailing the 1.6% average of public indices. However, year-to-date through April 25, public indices faced headwinds, averaging a -2.1% return due to market volatility surrounding the recent “Liberation Day” market event. Over the past 12 months, the Stanger NAV REIT Index posted a 1.3% return, compared to a robust 10.0% average for public indices.
“The pace of capital formation has begun to pick up as recent vintages of private placement NAV REITs have begun to dominate the space after the influence of a higher interest rate environment has curtailed the performance of the publicly registered NAV REITs,” said Kevin T. Gannon, Chairman and CEO of Robert A. Stanger & Company, Inc. “Since the beginning of 2022, real estate focused alternatives have redeemed $52 billion of investors capital, while the fundraising velocity of BDCs has increased by $67 billion. NAV REITs have satisfied this redemption queue through their liquidity sleeve, asset sales and strategic investments – proving the efficacy of the product.”
Among NAV REITs, Cohen & Steers Income Opportunities REIT led Q1 with a 3.6% 3-month total return. PGIM Private Real Estate Fund, Inc. once again topped the 1-year total return rankings, while FS Credit maintained its top spot in the 3-year rankings for the third consecutive quarter. Blackstone Real Estate Income Trust reclaimed the 5-year total return lead with an annualized 11.0%, surpassing Clarion Partners Real Estate Income Fund Inc., which briefly held the top position in Q4 2024.
For Lifecycle REITs, Strategic Storage Trust VI sustained its leadership in the 1-year total return rankings for the third straight quarter, delivering a 27.3% return. Procaccianti Hotel REIT surged to the top of the 3-year rankings, up from second place in Q4. Lightstone Value Plus REIT V finished atop the 5-year total return rankings, regaining its top spot after briefly finishing second in Q4 2024.
The Stanger Lifecycle REIT Total Return Index experienced a challenging start to 2025, declining 7.9% in Q1 and 6.7% over the past 12 months.
To request a copy of The Stanger Report or for further information on all available Stanger Publications, please contact:
Gregory R. DiSalvo
732.389.3600
gdisalvo@rastanger.com
The Stanger NAV REIT and Stanger Lifecycle REIT Total Return Indices measure the performance of non-listed REITs on a quarterly basis. Stanger began calculating the indices on December 31, 2015, with a base level of 100. All public share classes of NAV REITs with a minimum of one calendar quarter of performance are included in the NAV REIT Index. Lifecycle REITs are generally added to the Lifecycle REIT Index in the quarter that their first NAV is announced. Lifecycle REITs are removed from the index upon listing, merger, or in the case of a liquidation by sale of properties, upon conversion to a liquidation basis of accounting. Lifecycle REITs may also be removed for other special circumstances. The indices currently include 20 NAV REITs (82 separate share classes) and 15 Lifecycle REITs (27 separate share classes). (Number of companies may differ from earlier totals cited due to minimum size thresholds required to be included in the index and/or rankings, as well as other factors).
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About Robert A. Stanger & Co., Inc.
Robert A. Stanger & Co., Inc., founded in 1978, is a nationally recognized investment banking firm specializing in providing investment banking, financial advisory, fairness opinion and asset and securities valuation services to partnerships, real estate investment trusts and real estate advisory and management companies in support of strategic planning, capital formation and financings, mergers, acquisitions, reorganizations, and consolidations.
Stanger is also well known for its flagship publication, The Stanger Report, a nationally recognized comprehensive report focused on non-traded REIT and BDC investing, including aggregate market statistics, total returns by company and total return indices, fee structure comparisons, and profiles of current offerings; The Stanger Market Pulse, focused on public non-traded REIT, non-traded BDC and other alternative investment fundraising; The Stanger Chairman’s Report, focused on NAV REIT and non-traded BDC sales and redemptions; The Stanger Interval Fund Report, focused on non-traded interval fund investing, and The Stanger Digest, a newsletter providing a weekly update on industry activities.
Stanger’s newest publication, Stanger Privates, is a quarterly deep dive into over 100 Private Placement REITs and BDCs and available exclusively to Stanger Institutional Access subscribers.
For More Information:
Kevin T. Gannon | Chairman & CEO | (732) 389-3600
Robert A. Stanger & Co., Inc.
1129 Broad Street, Suite 201
Shrewsbury, NJ 07702
www.rastanger.com
Member: SIPC
