Editor's note: This article is published monthly with current data available at that time.

U.S. equity real estate investment trusts pulled in a total of $42.69 billion in 2022 through capital offerings, less than half of the $114.60 billion collected by the industry in 2021.

Most of the capital raised in 2022 came through senior debt offerings, at $25.52 billion. Common equity offerings accounted for $16.22 billion, while the remaining $947.3 million was obtained through preferred equity offerings.

Specialty sector amassed over 40% of capital offerings

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The specialty sector, which consists of advertising, casino, communications, datacenter, energy infrastructure, land and timber real estate, accounted for the largest share of total capital raised in 2022 at $17.34 billion. The retail sector came in second, pulling in $8.67 billion, followed by the residential sector at $5 billion.

VICI Properties collected the most capital in 2022

Casino REIT VICI Properties Inc. raised the most capital in 2022 through several senior debt and common stock offerings totaling $8.73 billion, followed by Realty Income Corp. at $3.76 billion.

In 2022, communications REIT American Tower Corp. attracted the most capital in a single common stock offering transaction, at $2.35 billion, which was completed June 2. VICI Properties raised $1.50 billion in a single debt offering completed April 20, 2022, while office-focused Creative Media & Community Trust Corp. pulled in a total of $692.3 million through a preferred equity offering completed June 10, 2022.

Limited offerings in December 2022

During the month of December, all of the capital raised came from debt offerings, at $650.0 million. It was 61.7% below the $1.70 billion raised in November and a 90.1% plunge from the amount raised in December 2021.

Office-focused Brandywine Realty Trust pulled in a total of $350.0 million through an offering of senior debt due March 15, 2028. Apart from using the offering's net proceeds for general corporate purposes, the REIT intends to repurchase or redeem the $350 million outstanding principal amount of its 3.95% guaranteed notes due Feb. 15, 2023.

The only other offering completed in December was by communications REIT Uniti Group Inc., which sold $300.0 million worth of unsecured notes due 2027.