Private REIT Return Calculator
Non-traded REITs (Blackstone BREIT, Starwood SREIT) have delivered 8-12% net returns. Calculate your expected yield, illiquidity premium, and break-even vs. public REIT alternatives.
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10-Year Wealth Projection
Long-term wealth accumulation model.
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Frequently Asked Questions
How do private REITs compare to public REITs?
Private vs. public REIT comparison 2026: Public REITs (traded on NYSE): daily liquidity; dividend yield: 3-5% average; total return: 8-12% long-term; expense ratio: 0.10-0.75% for REIT ETFs (VNQ, SCHH); mark-to-market volatility; Private non-traded REITs: Blackstone BREIT: $63B AUM, 5.1% distribution yield, limited redemptions (2% monthly, 5% quarterly cap); Starwood SREIT: $14B AUM, 5.7% yield; Blue Owl Real Estate: 6.1% yield; Clarion Partners Real Estate: $17B AUM; FS Investments: 5.5-6.5% yield; Fees: upfront load 0% (direct/RIA channels) to 5.75% (broker-sold); management fee: 1.25-1.5%; performance fee: 12.5% of returns above hurdle (5-8%); Private REIT advantages: net asset value (NAV) pricing (no daily volatility); better access to institutional real estate deals; often lower correlation to public markets; Private REIT risks: illiquidity — most have gates (BREIT suspended redemptions 2022-2024); opaque valuations — NAV calculated quarterly; high fee drag; 2022 crisis: both BREIT and SREIT suspended redemptions amid interest rate rises.
What is the minimum investment for private REITs?
Private REIT minimums and access: Direct investment minimums: Blackstone BREIT: $2,500 minimum (institutional share class); Starwood SREIT: $10,000; NexPoint Real Estate Finance: $5,000; CrowdStreet (individual deals): $25,000-100,000; Realty Mogul: $5,000; Yieldstreet Real Estate: $5,000; Accredited investor required: Private REITs require Reg D accredited status ($1M net worth or $200K income); some open to all investors via Reg A+ offerings ($5,000 minimums); Intervals and liquidity: quarterly repurchase programs typically 5% of NAV per quarter; 1-year minimum hold before any redemption; illiquidity premium: historically 1-3% higher return vs. public REITs to compensate; Tax treatment: REIT dividends: 20% QBI deduction under TCJA (if business income); depreciation pass-through reduces taxable dividends; K-1 reporting for partnership structure; 1099-DIV for corporate structure.
When should I work with a family office vs. private bank?
Family offices (single or multi) make sense at $50M+ in investable assets. Below that, private banking (JP Morgan Private Bank, Goldman Sachs PWM, UBS) offers similar services with lower minimums ($5-25M). Family offices provide consolidated reporting, direct deal access, and custom investment mandates unavailable at private banks. Multi-family offices (Bessemer Trust, Glenmede) offer a middle ground at $10M+ with family-office-level service at lower cost.
How much should ultra-high-net-worth individuals keep in cash?
Most wealth advisors recommend 3-5% of liquid net worth in cash/cash equivalents for UHNW individuals — enough to cover 12-24 months of lifestyle expenses plus opportunistic investments. Excess cash above this benchmark costs 5-8% annually in opportunity cost vs. diversified portfolios. Treasury bills, money market funds, and short-duration bonds provide liquidity with yield while maintaining capital preservation objectives.
Private REIT Return Calculator — 2026 Guide
Non-traded REITs (Blackstone BREIT, Starwood SREIT) have delivered 8-12% net returns. Calculate your expected yield, illiquidity premium, and break-even vs. public REIT alternatives. Sophisticated wealth planning requires understanding the interplay of investment returns, tax efficiency, legal structure, and generational transfer. High-net-worth individuals who work with dedicated wealth advisors typically outperform self-managed portfolios by 1-3% annually after fees — a significant difference at scale.