But Hogan from the IPA remains upbeat.
“Despite everything that’s happened with ARC and its affiliates, nothing in the industry has really changed,” he said. “The non-listed REIT industry continues to have strong fundamentals.”
Hogan said a pending rule from Finra that will require per share estimated values on statements is spurring product improvements, such as daily NAV products and new share classes with level loads.
“I think that’s going to play very well for investors,” he said.