What SR Realty Trust does

SR Realty Trust, Inc. is a private, non-traded real estate investment trust (REIT) founded in 2014 and headquartered in Minneapolis, Minnesota. The company is sponsored by Schafer Richardson, Inc., a fully integrated commercial real estate firm that serves as deal originator, asset manager, and property manager. SR Realty Trust operates under an Umbrella Partnership Real Estate Investment Trust (UPREIT) structure, which enables it to acquire commercial real estate on a tax-deferred basis by issuing Operating Partnership Units to contributing property owners.

The company's core product is a diversified portfolio of commercial real estate spanning office, industrial, retail, multifamily, and net-leased assets concentrated in the Upper Midwest. As of early 2023, the portfolio comprised 39+ properties totaling more than 4 million square feet across seven markets in five states (Minneapolis-St. Paul, Duluth, Milwaukee, Kansas City, Omaha, Lincoln, and the Quad Cities). Investment offerings are made exclusively to accredited investors through confidential Private Placement Memorandum documents, with acquisitions frequently structured to facilitate 1031 exchanges for property sellers. The portfolio also includes joint-venture structures such as Rya at RF64 in Richfield, MN.

SR Realty Trust generates revenue primarily through rental income from its commercial property portfolio and distributes that income to shareholders via quarterly dividends. Shareholders may reinvest distributions through the Dividend Reinvestment Program (DRiP) at a discount to share price, and may exit via a redemption program at 97% of the then-current share price (subject to restrictions). Share pricing is established by the Board no less than annually based on the current market value of assets less liabilities. The company's competitive positioning rests on the UPREIT structure's tax-deferral advantages, professional management that removes active landlord responsibilities, and targeted exposure to Upper Midwest commercial real estate — a market typically underserved by larger institutional REIT capital.

Name

SR Realty Trust

Legal name

SR Realty Trust, Inc.

Website

https://srrealtytrust.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

SR Realty Trust is a private, non-traded REIT founded in 2014 and sponsored by Schafer Richardson that invests in a diversified portfolio of office, industrial, retail, multifamily, and net-leased commercial real estate across the Upper Midwest, offering tax-deferred UPREIT-based investment vehicles exclusively to accredited investors.

Ownership category

akta.pro rank

Product category

Private REIT Investment

NAICS

Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industries

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Private real estate investment trust
• Commercial property portfolio
• UPREIT tax-deferred exchange
• Accredited investor shares
• 1031 exchange facilitation

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Commercial Real Estate Rental Income: SR Realty Trust generates revenue through rental income from its diversified portfolio of commercial real estate properties including office, industrial, retail, and multifamily assets located in the Upper Midwest.
2. Dividend Distributions: The company pays quarterly dividends to shareholders from operating cash flows. Shareholders can reinvest dividends through the Dividend Reinvestment Program (DRiP) at a significant discount to share price.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

SR Realty Trust is a private, non-traded real estate investment trust that invests in a diversified portfolio of commercial real estate properties—including office, industrial, retail, and multifamily assets—across the Upper Midwest. The company offers accredited investors exposure to these properties through private placement share subscriptions and supports property sellers with tax-deferred exit strategies (1031 exchanges, 721/UPREIT contributions) via its UPREIT operating partnership structure. Shareholders receive quarterly dividend distributions with optional reinvestment through the DRiP program and have access to a share redemption program at 97% of share value.

Product overview

SR Realty Trust, Inc. is a private real estate investment trust (REIT) sponsored by Schafer Richardson that offers a diversified portfolio of commercial real estate properties across the Upper Midwest. The company operates as a single integrated platform offering multiple property types including office, industrial, retail, multi-family, and net leased properties. The portfolio has grown from 11 assets totaling 690,000 sq ft in 2015 to over 4 million square feet across 39+ properties. In addition to property ownership, SR Realty Trust provides investment services including 1031 exchange facilitation through its UPREIT structure, a Dividend Reinvestment Program (DRiP), and a share redemption program. The company also facilitates joint venture investments and offers investment opportunities to accredited investors through private placement offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Investment Portfolio (Private REIT Shares)
• 1031 Exchange / UPREIT Contribution Facilitation
• Dividend Reinvestment Program (DRiP)
• Share Redemption Program

Quantifiable outcome

• Dividends paid quarterly with optional reinvestment through DRIP at discount to share price
• +1 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Schafer RichardsoncoreStrategic or Co-development PartnerSchafer Richardson is the sponsor and operating partner of SR Realty Trust. The company provides deal sourcing, acquisitions, asset management, property management, and administrative services to the REIT. SR Realty Trust holds assets through an operating partnership which Schafer Richardson controls as General Partner.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• W. P. Carey Inc. Large publicly traded net-lease and diversified CRE investor with global portfolio; provides a benchmark for valuation and operating model against SRRT's smaller, more geographically concentrated diversified book.
• National Retail Properties: Public net-lease REIT focused on single-tenant retail properties; comparable to SRRT's single-tenant net-leased acquisitions (Fleet Farm, 4400 E. 53rd St, Carnegie Drive portfolio) on tenant and lease structure.
• Phillips Edison & Company: Public, grocery-anchored retail center REIT; one of the closest public-market comparables for SRRT's retail exposure (e.g., Fleet Farm, Parkway Plaza) and net-lease retail acquisition strategy.
• Realty Income Corporation: The largest public net-lease REIT, with monthly dividends and broad tenant diversification; a useful scale comparability benchmark for SRRT's net-leased Sentry Insurance, Fleet Farm, and Great Lakes Packaging assets.
• Inland Real Estate (InvenTrust Properties): Established non-traded / now-public retail and CRE platform with a multi-state net-lease acquisition model; serves as an incumbent reference point for SRRT's private non-traded diversified CRE platform.

Direct peers

• Passco Companies: Private CRE sponsor running multiple non-traded REITs (multifamily, industrial, retail) with 1031/UPREIT offerings; directly competes with SRRT for Upper Midwest sellers and accredited investors.
• Capital Square Realty & Investments: Sponsor of multiple private non-traded REITs (multifamily, net lease, development) using 1031/UPREIT vehicles to acquire CRE from individual sellers; competes directly for the same seller-investor segment as SRRT.
• Gladstone Commercial Corporation: Diversified net-lease and CRE REIT that acquires office, industrial, and retail properties with a regional acquisition focus, directly comparable to SRRT's diversified Midwest strategy and acquisition style.
• BRT Apartments Corp. Diversified multifamily and CRE REIT that uses UPREIT/JV structures to acquire properties, often from individual sellers seeking tax deferral; directly comparable to SRRT's multifamily expansion strategy.
• Steadfast Apartment REIT: Private, non-traded multifamily REIT built around an UPREIT-style acquisition pipeline; mirrors SRRT's private REIT structure, tax-deferred contribution model, and reliance on accredited investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/srrealestatemn
• LinkedInlinkedin.com/company/sr-realty-trust-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SR Realty Trust