2021 REIT Offerings by Sector

Senior debt offerings accounted for most of the capital raised by U.S. equity REITS at the start of the year.

As of Feb. 10, 2021, publicly traded U.S. equity REITs raised approximately $9.07 billion through capital offerings. Senior debt offerings accounted for 75 percent of total capital raised, amounting to $6.79 billion, followed by common and preferred issuances, which totaled $2.23 billion and $0.05 billion, respectively.

Specialty and office REITs topped the charts among the REIT property sectors, aggregating $4.43 billion over nine senior debt, common and preferred stock offerings. Specialty REIT SBA Communications Corp. raised $1.50 billion through one senior debt offering, while Crown Castle International Corp. raised $1 billion in senior debt offering. Gladstone Land Corp. ranked third with a total of $0.09 billion through one common and preferred equities.

Diana Rose Barrun is a senior associate in the Client Operations department of S&P Global Market Intelligence.