Decline in equity value of major nontraded REITs

SEP 07, 2012
  
Rank Non-listed REITs - closed Offering closed Total equity raised (in thousands) Offering share price Revaluation date Current share price* Equity value at current price (in thousands) Equity value decline (in thousands)
1 Retail Properties of America 2005 $4,520,500 $ 10.00 4/5/2012 $ 3.20 $1,446,560 $3,073,940
2 Inland American Real Estate Trust 2009 $9,303,600 $ 10.00 12/29/2011 $ 7.22 $6,717,199 $2,586,401
3 Behringer Harvard REIT I 2008 $2,845,900 $ 10.00 12/16/2011 $ 4.64 $1,320,498 $1,525,402
4 Wells Real Estate Investment Trust II 2010 $5,440,800 $ 10.00 11/1/2011 $ 7.47 $4,064,278 $1,376,522
5 KBS Real Estate Investment Trust 2008 $1,775,000 $ 10.00 12/31/2011 $ 5.16 $915,900 $859,100
6 CNL Lifestyle Properties 2011 $2,656,600 $ 10.00 8/1/2012 $ 7.31 $1,941,975 $714,625
7 Dividend Capital Total Realty Trust 2009 $1,800,200 $ 10.00 7/12/2012 $ 6.69 $1,204,334 $595,866
8 Hines Real Estate Investment Trust 2010 $2,368,300 $ 10.00 5/24/2011 $ 7.78 $1,842,537 $525,763
    Total $30,710,900       $19,453,280 $11,257,620
*Current Share Price is current reported share value by REIT, except Retail Properties of America which is the adjusted IPO price (pre-split). Source: MTS Research Advisors

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