DSTs Raise Nearly $500 Million in October, on Pace for $5.2 Billion in 2023

Fundraising for Delaware statutory trust offerings, typically used to facilitate securitized 1031 exchanges, totaled just over $4.3 billion for the year through October 2023, according to data provided by Robert A. Stanger & Co. and Mountain Dell Consulting.

Based on the average monthly fundraising through the first 10 months of 2023, DSTs are on pace to raise approximately $5.2 billion for the full year, a slight improvement over the annual pace of $5.1 through the first three quarters.

Top sponsors through the end of October include:

Ares led sales with a total equity raise of $86 million in October and a year-to-date tally of $760.3 million.

Inland Private raised $44.1 million for the month, with a year-to-date total of $463.7 million.

LaSalle Investment Management, via JLL Income Property Trust, brought in $15 million in October, bringing their annual raise to $330.8 million.

ExchangeRight totaled $41.7 in October and $321.3 million year-to-date.

Capital Square’s October sales equaled $12 million for an annual total of $218.1 million.

The DST industry is experiencing a significant slowdown is sales during 2023 compared to recent years, when DST sponsors raised a then record $7.2 billion in 2021, which was smashed just a year later when DSTs attracted approximately $9.2 billion in 2022.

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