Specialty, Casino REITs Raise Most Capital YTD
- Feb 06, 2019
As of Feb. 4, 2019, publicly traded U.S.equity REITs raised approximately $4.87 billion through capital offerings. Senior debt offerings accounted for 88 percent of total capital raised, amounting to $4.30 billion, followed by common equity which totaled $0.57 billion.
Specialty and casino REITs topped the charts among the REIT property sectors, aggregating $3.82 billion over seven senior debt and common stock offerings. Casino REIT MGM Growth Properties raised $1.32 billion through one senior debt and one common stock offering, while communications REIT Crown Castle raised a total of $1 billion in two senior debt offerings. Data center REIT Digital Realty ranked third with an $850 million debt offering.
Jose Raphael Canillas is an associate in the real estate product operations department of S&P Global Market Intelligence.