MGM Growth Properties CEO Says REIT a Leader in Diversification of Las Vegas Entertainment Options

MGM Growth Properties CEO Says REIT a Leader in Diversification of Las Vegas Entertainment Options

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James Stewart, CEO of MGM Growth Properties LLC (NYSE: MGP), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Stewart described the REIT as a leader in the diversification of entertainment activities in Las Vegas. On the Las Vegas Strip, approximately one third of revenue is generated by casino gaming—the rest comes from restaurants, bars and live entertainment, he said.

Published at Wed, 27 Jun 2018 16:20:01 +0000

Sotherly Hotels CEO Says Entry into Washington, D.C. Market is “Big Win”

Sotherly Hotels CEO Says Entry into Washington, D.C. Market is “Big Win”

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Andrew Sims, chairman and CEO of Sotherly Hotels Inc. (NASDAQ: SOHO), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

In March, Sotherly acquired the Hyatt Centric Arlington located in Arlington, Virginia. Sims said Sotherly has been trying to enter the Washington, D.C. market for several years now as it serves as a feeder for the company’s other hotels.

Published at Tue, 26 Jun 2018 17:30:15 +0000

CorEnergy Sees “Tremendous Opportunity” for Acquisitions Among Upstream Operators

CorEnergy Sees “Tremendous Opportunity” for Acquisitions Among Upstream Operators

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Dave Schulte, president and CEO of CorEnergy (NYSE: CORR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

As the first publicly-listed energy infrastructure REIT, CorEnergy’s business model can sometimes be a challenge to explain to investors.

Published at Tue, 26 Jun 2018 12:42:18 +0000

UMH Properties Expects to Build on 350 Lots Per Year for the Next Three Years

UMH Properties Expects to Build on 350 Lots Per Year for the Next Three Years

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Sam Landy, president and CEO of UMH Properties (NYSE: UMH), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Landy said one of the reasons UMH Properties has had such strong results is because the company is able to provide housing to the increasing number of people moving to their markets for job opportunities.

“We’re predominantly workforce housing, and [in] Indiana, Ohio [and] Western Pennsylvania, the job market’s growing,” Landy said.

Published at Mon, 25 Jun 2018 18:44:21 +0000

Preferred Apartment Communities Finds Growth in Grocery-Anchored Retail

Preferred Apartment Communities Finds Growth in Grocery-Anchored Retail

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Daniel DuPree, chairman and CEO of Preferred Apartment Communities, Inc. (NYSE: APTS), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Preferred Apartment Communities’ primary asset type has been class-A multifamily in markets with more than one million people and good job growth. The REIT acquired $1.1 billion in assets since the beginning of 2017, but then began to pivot.

Published at Mon, 25 Jun 2018 17:30:05 +0000

DDR Says Planned RVI Spin-Off is “Sound Strategy” to Create Shareholder Value

DDR Says Planned RVI Spin-Off is “Sound Strategy” to Create Shareholder Value

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DDR Corp. (NYSE: DDR) said its plan to spin off lower-quality U.S. shopping centers and its Puerto Rico assets will create value for shareholders and complete the retail REIT’s broader portfolio transformation.

DDR first announced plans to create a new REIT, Retail Value Inc. (RVI), at the end of 2017. RVI is expected to begin trading on July 2.

Published at Mon, 25 Jun 2018 17:11:04 +0000

American Assets Trust Seeing “Buoyant” Conditions in West Coast Office Markets

American Assets Trust Seeing “Buoyant” Conditions in West Coast Office Markets

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Ernest Rady, president and CEO of American Assets Trust (NYSE: AAT), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Based in San Diego, American Assets Trust acquires, develops, refurbishes and manages a portfolio of retail, office and apartment properties.

Published at Mon, 25 Jun 2018 13:30:43 +0000

EdR Agrees to Greystar Sale in $4.6 Billion Transaction

EdR Agrees to Greystar Sale in $4.6 Billion Transaction

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EdR (NYSE: EDR) announced June 25 that it has agreed to be acquired by an affiliate of Greystar Real Estate Partners in an all-cash transaction valued at approximately $4.6 billion, including debt.

As part of the transaction, Blackstone Real Estate Income Trust, Inc. will acquire a portfolio of EdR’s off-campus student housing assets for $1.2 billion in a joint venture with Greystar. Blackstone will hold a 95 percent stake in the joint venture.

Published at Mon, 25 Jun 2018 15:17:12 +0000