U.S. equity real estate investment trusts (REITs) raised $35.27 billion in 2012 through Aug. 10, $3.82 billion more than the $31.42 billion raised in the prior-year period, according to industry tracker SNL Financial.
As of Aug. 10, common equity deals accounted for $14.72 billion of gross capital offerings, senior debt totaled $13.53 billion and preferred equity totaled $7.02 billion. In the prior-year period, common equity offerings totaled $17.93 billion, senior debt reached $10.30 billion and preferred equity accounted for $3.19 billion.
By sector, health care REITs had raised the most capital as of Aug. 10, with $7.7 billion. Retail REITs ranked second with $7.61 billion.
A handful of debt offerings were completed between July 28 and Aug. 10. Newton-based Hospitality Properties Trust raised $500 million on Aug. 9 through a senior debt offering. The company intends to use the net proceeds to prepay in full the $287 million outstanding principal amount of its 6.75 percent senior notes, as well as to redeem some of its outstanding 7 percent series C cumulative redeemable preferred shares.
