LODAS executed 1.35 million shares in second quarter
LODAS Markets, the third-largest alternatives market operator in the U.S., announced that RREEF Property Trust (RREEF) shares are available for trading on its platform.
RREEF’s parent company is DWS, which is majority owned by Deutsche Bank. RREEF invests in buildings, hotels, retail centers, and industrial facilities, and current net asset value is about $329 million.
“We’re excited to add RREEF Property Trust to the LODAS platform to offer its investors liquidity in the secondary market,” said LODAS CEO Brian King. “This is the latest in a series of 2023 LODAS milestones as we provide institutions and individuals the opportunity to easily trade non-listed REITs and similar alternative securities.”
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Second-quarter data provided by FINRA shows LODAS as the third-largest alternatives market operator in the US, trailing only two long-standing entities: OTC Markets and NYSE Arca. Nearly 1.35 million shares were executed on LODAS in the period, including the first secondary market trades in the history of the Blackstone Real Estate Investment Trust (BREIT), which has an NAV of $68 billion.
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The company’s additional 2023 achievements include:
- Reaching 3 million shares traded in the life of LODAS, which launched in late 2021 and has become the leading SEC-registered alternative trading system for non-listed REITs
- Entering a partnership with NexPoint, the $13 billion alternative investment manager, with LODAS offering trading in shares of NexPoint’s Vinebrook Realty Trust
- Adding SREIT, Starwood’s $12 billion trust, to its platform
- Successfully completing its first integration with a third-party platform, making it easy for financial advisors to monitor trading activity in non-listed REITs and execute trades on their clients’ behalf
“With more than $2 billion of institutional trading interest on the platform, including $1 billion in BREIT alone, we are well positioned for further growth,” King said. “In the coming weeks and months, we expect to announce additional partnerships to spur that growth as we continue to serve the liquidity needs of investors.”
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