Property acquisitions by publicly traded U.S. real estate investment trusts continued to outpace dispositions in February, according to data collected by S&P Global Market Intelligence.

Property acquisitions

Excluding properties acquired through M&A activity, S&P Global Market Intelligence recorded 106 property acquisitions by U.S. REITs in February, totaling roughly $6.11 billion in purchasing price.

Apart from December months, the aggregate acquisition price in February marked a high point since the onset of the COVID pandemic. December transaction totals are typically higher due to S&P Global Market Intelligence adjusting REIT property portfolios at the end of each year based on information reported in the Schedule III section of 10-K filings. New properties found without a known acquisition date are added to the December total of each year.

The majority of the February acquisition total stemmed from VICI Properties Inc.'s acquisition of The Venetian Resort and The Venetian Expo in Las Vegas for $4 billion.

Next on the list was retail REIT Necessity Retail REIT Inc. with $807.9 million of property acquisitions in February.

Healthcare-focused Ventas Inc. rounded out the top three, acquiring 18 medical office buildings from Ardent Health Services for $204 million as well as Mangrove Bay, a class A senior housing community in Jupiter, Fla. for $106.5 million.

Property dispositions

Property dispositions remained low in February, with nine recorded dispositions totaling approximately $508 million in sale price.

Host Hotels & Resorts Inc.'s sale of the Sheraton Boston Hotel for $233 million marked the largest property sale of the month.

Meanwhile, multifamily REIT Independence Realty Trust Inc. sold three properties in February for $233 million in total, while hotel-focused Sunstone Hotel Investors Inc. sold its interest in the Hyatt Centric Chicago Magnificent Mile hotel for $67.5 million.