2025 REIT Offerings

As of June, publicly traded U.S. equity REITs raised approximately $10.92 billion through capital offerings. Senior debt offerings accounted for 52.19 percent, amounting to $5.70 billion, followed by common equity offerings accounting for 32.24 percent and $3.52 billion of total capital raised. Senior subordinated debt amounted to $1.70 billion, which is 15.57 percent of the total.

Health care and “other retail” led among the REIT property sectors. Among health care REITs, the top capital raisers were: Medical Properties Trust Inc., which raised $1.5 billion through senior debt, followed by Welltower Inc., which raised $1.3 billion via common equity offerings.

Iman Niazi is an assistant manager in the real estate client operations department of S&P Global Market Intelligence. If you are interested to learn more about the products and services available within S&P Global Real Estate data, please visit us here.

—Posted on June 30, 2025