LODAS Markets Cuts Trading Fees for NAV REITs, Executes BREIT Trade Just 4.5% below NAV
OVERLAND PARK, Kan. – November 1, 2023 - LODAS Markets, operator of the fourth-largest alternative trading system (ATS) in the U.S., announced reduced fees to trade NAV REITs* on the LODAS Marketplace with sellers now paying 1.9% of transaction value vs 2.9% previously.
The change is effective today and buyers continue to pay no transaction fee.
For the third quarter ended September 30, LODAS also reported an 80% increase in total notional value traded vs. the prior quarter, representing the total dollar value of all trading. Nearly 30 different securities traded on the LODAS Marketplace for the period.
LODAS Markets CEO Brian King said, "We’re pleased to offer this discount to sellers as they take the opportunity to engage with more than $2 billion of buyside interest on the growing LODAS Marketplace. This figure includes nearly $1 billion in interest to buy Blackstone’s BREIT as spreads continue to tighten with our latest BREIT trade executed at just a 4.5% discount to NAV.”
As reported, BREIT fulfilled just 56% of investor redemption requests in October, the twelfth consecutive month the fund has been unable to meet liquidity demands.
In February, LODAS announced that investors could trade Starwood Real Estate Income Trust (SREIT) in its marketplace and, in March, BREIT became available.
Launched as Realto in 2021, LODAS operates the first fully automated online marketplace that matches buyers and sellers of alternative and real estate investments. It operates similar to an exchange where assets such as non-traded real estate investment trusts (REITs), business development corporations (BDCs) and private real estate investments are traded like corporate stocks.
LODAS stands for Liquidity On Demand As a Service. The name represents the company’s intent to provide investors of all kinds – from individuals to sponsors, to the world’s largest funds – with liquidity on their terms.
*Reduced fees relate only to NAV REIT trades. It does not apply to other products traded on the LODAS Marketplace.
LODAS Securities, LLC Member FINRA / SIPC - LODAS Securities, LLC is a wholly subsidiary of LODAS Markets, Inc.
The information provided herein does not constitute an offer to sell securities or the solicitation of an offer to buy securities, which can only be made by the applicable offering document filed and registered with the appropriate state and/or federal regulatory agencies and sold by broker dealers authorized to do so. There is no guarantee that a market will develop for some securities, and as a result, they may remain illiquid.
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