Level from micro data on public operating REITs compiled by and purchased from S&P Global. Level is calculated as the sum of Unsecured Debt (SNL key 132316) plus Subordinated Debt (SNL key 132314) less Amounts Drawn (SNL key 134205) of all equity REITs . Equity REITs are defined as North America Real Estate companies that have an Equity investment focus. Transactions are calculated as the change in level. Data for the most recent ten years show no significant seasonality.
Last edited on: 05/16/2016