Policy Issues

Joint Trade Association Letter Opposes NASAA's Proposal Regarding Real Estate Investment Trusts

September 12, 2022

The Real Estate Roundtable, CRE Finance Council, ICSC, Institute for Portfolio Alternatives, Nareit, and National Multifamily Housing Council wrote to the North American Securities Administrators Association (NASAA) on Sept. 12, 2022 to oppose proposed rules that would place new restrictions on the market for public non-listed REITs.

The letter states:

"Commercial real estate historically has provided investors with portfolio diversification, inflation protection, a source of income, and long-term growth. The Proposal would impose arbitrary restrictions that would limit investor choice during a time of stock market volatility and high inflation. The concentration, net worth, and gross income limits would prevent many investors from attaining adequate portfolio diversification by investing in NAV REITs. We urge NASAA to withdraw the Proposal."

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