Debt offerings made up $14.9 billion of the Q3 total. Common equity offerings added $4.7 billion, and preferred equity offerings added $173 million.
The REIT IPO market cooled with no offerings in Q3 after an active first half of 2026.
Three public U.S. REIT deals totaling $8.6 billion were announced in the quarter. Public-REIT to public-REIT deals accounted for $3.6 billion, or 42%, of that total. One take-private deal was announced over this period, valued at $4.9 billion.