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U.S. REITs raised $19.8B in Q3 2026 as IPO market cooled

REITs’ Q3 fundraising included $14.9B from debt offerings, $4.7B from common equity, and $173M from preferred equity, while weighted-average REIT debt coupons rose to 5.4% from 4.7% in Q1.

Reported · Written up by our desk · REITs

U.S. REITs raised $19.8 billion in the third quarter of 2026 through secondary debt and equity offerings, according to Nareit, as reported by ConnectCRE.

ConnectCRE reported that the year-to-date total reached $65.7 billion, with Q3 funding split across $14.9 billion of debt offerings, $4.7 billion of common equity offerings, and $173 million of preferred equity offerings.

ConnectCRE also said the REIT IPO market cooled after an active first half of 2026, with no offerings in Q3.

Finally, ConnectCRE reported that borrowing costs for REIT debt increased during 2026, with a weighted average coupon of 5.4% in Q3 compared with 4.7% in Q1.

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