A daily NAV REIT is a non-traded REIT that calculates its net asset value — and offers and repurchases shares — every business day, rather than monthly. The design pioneered NAV-based pricing in the non-traded market and survives as the model’s highest-frequency variant.
Where daily NAV fits in the category's evolution
The first-generation non-traded REITs sold at fixed prices (the $10 share) unconnected to value; the daily NAV REITs of the early 2010s introduced the corrective — sell and repurchase at computed NAV, continuously — and the industry’s dominant modern products adopted the architecture at monthly frequency, the cadence that now defines the NAV REIT era. Daily computation demands more valuation machinery: property values updated through frequent appraisal cycles with daily adjustment overlays, independent valuation involvement, and liquid-asset sleeves supporting the daily redemption window (still subject to the standard quarterly caps — daily pricing does not mean uncapped liquidity, the distinction that matters most in client conversations). The honest appraisal of the trade-off: daily marks on appraisal-based assets are precision beyond the underlying evidence — real estate values don’t truly resolve daily — so the daily number is best read as a smooth interpolation between appraisal events, useful for fair transaction processing, not as price discovery. The daily/monthly distinction is operational; the analytical questions (valuation governance, redemption capacity, fee load) are identical across the NAV family.
Related terms
Non-Traded REIT · NAV · Transaction Price · Redemption Program · Perpetual-Life Fund
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