With Blackstone raising $250 million a month in its recently created NAV REIT, Nuveen, Starwood Capital, Griffin Capital and Oaktree are poised to follow the nation’s largest alternative investment manager with similar vehicles of their own. It’s not yet clear whether NAV REITs, technically described as non-exchange-traded, perpetual-life REITS that price their net asset value daily and offer monthly redemptions, will replace non-traded REITs as a leading private investment structure for retail investors, but the market is rapidly expanding. Since Blackstone launched Blackstone Real Estate Income Trust (BREIT) in 2017, the market has grown to more than $2 billion.