Nontraded REITs are poised to grant some $20B in redemption requests by the end of 2023, doubling last year’s total and reflecting the impact of a year in which investors made the unprecedented decision to ask for their money back. That number is the largest annual total of redemptions fulfilled by nontraded REITs in their short history, according to Kevin Gannon, chairman and CEO of investment firm Robert A. Stanger & Co. But the number is likely to taper off heading into 2024 as property valuations are lowered and wary investors’ fears are soothed by the money that has already been repaid. 
“The NAV REITs raised over $100B in the last seven years,” Gannon said. “A lot of money was devoted to it. Now people are saying, ‘Hey, that price ought to correct a bit.’ I don’t think it’s corrected as much as it should have. It just seems they’re slow to… Read the full story here. | 
