U.S. REITs raise approximately $18.3B over 12 months

The majority of financing came from senior debt, which accounted for 43.63% of the total ($7.97 billion), followed closely by common equity issuances totaling $7.90 billion.

By property sector, the healthcare and “other retail” segments recorded the highest fundraising activity. At the same time, self-storage and hotel REITs posted the largest weekly gains, rising 2.27% and 2.25% respectively, followed by industrial and retail REITs. In the healthcare sector, Welltower Inc. raised $2.45 billion through a common stock issuance, marking the largest single transaction of the period. Similarly, in the retail sector, Realty Income Corp. secured $650 million via senior debt.

This trend reflects the ongoing need for real estate investment trusts to raise capital as they seek to finance acquisitions, developments, and debt refinancing in an interest rate environment that remains elevated relative to the previous decade.

Psalm Uy, Senior Associate in the Real Estate Client Operations Department at S&P Global Market Intelligence, notes that the company’s data provide a detailed view of financing trends in the global real estate sector.