2024 Asset Class Performance Highlights
Revenue Growth
Occupancy
Rental Housing (71% of AUM)
3% Blended rent growth
95%
Industrial (13% of AUM)
50% T12 releasing spreads
96%
20% Below market rents
Real Estate Loans (4% of AUM)
12% Yield
2024 Performance Summary Total Returns (% Net of Fees) 10
2024 Total Return
Annualized Inception to Date (ITD)
Annualized Distribution Rate 8
Class I
0.20%
6.79%
5.73%
Class D (No Sales Load)*
-0.12%
6.37%
5.55%
Class D (With Sales Load)**
-1.59%
6.10%
Class S (No Sales Load)*
-0.65%
6.02%
4.82%
Class S (With Sales Load)**
-4.01%
5.41%
Class T (No Sales Load)*
-0.62%
6.06%
4.82%
Class T (With Sales Load)**
-3.98%
5.46%
* Returns are net of stockholder servicing fee. ** Assumes payment of the full upfront sales charge at initial subscription (1.5% for the Class D shares and 3.5% for Class S and Class T shares) and are net of stockholder servicing fees.
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SREIT | 2024 YEAR-END LETTER
FOR SREIT STOCKHOLDERS ONLY
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