The properties hitting the market today tend to be smaller. Investors are holding onto stabilized assets if they can and distressed deals haven't hit the market yet.
The REIT sold $500 million in green bonds after the offering was boosted by strong investor demand.
Zara owner Amancio Ortega has amassed real estate holdings valued at $17.2 billion, including investing more than $3 billion in U.S. assets.
The fund put together by HFZ Capital Group will buy shares of REITs undervalued by the pandemic.