Non-Traded REIT Indices - Q3 2025 (PRELIMINARY)

Index Overview

The SK Research and Due Diligence, LLC (SKRADD) Non-Traded REIT Equity indices track the performance of the ten largest non-traded, perpetual-life equity REITs, based on net assets and subject to eligibility requirements. Constituent candidates for the Non-Traded Equity REIT Index (SKRADD-NTRE) include non-traded, perpetual-life equity REITs. The Non-Traded Equity Diversified REIT Index (SKRADD-NTRED) does not allow for the inclusion of sector-specific programs. Index returns are calculated on a quarterly basis and rebalanced annually. For more information, the methodology documentation can be found here.

Index Performance

The S&P United States REIT Index (SP US REIT) measures the performance of publicly-traded REITs domiciled in the U.S. The NCREIF Fund Index – Open-End Diversified Core Equity (ODCE) measures the time-weighted, gross-of-fees performance of open-end commingled funds pursuing a core investment strategy. The NCREIF Property Index (NPI) measures the property-level returns for private real estate properties held for investment purposes only. As an appraisal-based index, the NPI is likely to contain substantial price smoothing

Historical Returns

Constituent Returns

Three-month total return for non-traded REIT index constituents as of quarter end.

Non-Traded REITs on ALTIDAR

Total returns for non-traded REITs with research coverage on ALTIDAR.

The table above lists the returns for non-traded equity REITs with research coverage on ALTIDAR. While some of these programs may be index constituents for certain periods, inclusion in this table does not necessarily indicate index membership.

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