CyrusOne Building Out European Platform

CyrusOne Building Out European Platform

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Gary Wojtaszek, president and CEO of CyrusOne (NASDAQ: CONE), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Wojtaszek said that the growth that CyrusOne has seen in the United States during the last few years is now beginning to land on European shores.

“We’re trying to build that European platform,” he said. “Our first move was the acquisition of Zenium.”

Published at Mon, 06 Aug 2018 15:31:42 +0000

FTSE Nareit All REITs Index Up 0.8% in July

FTSE Nareit All REITs Index Up 0.8% in July

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REITs rose modestly in July, with data center REITs and regional mall REITs posting the strongest returns during the month.

The total returns of the FTSE Nareit All REITs Index rose 0.8 percent in July, while the S&P 500 rose 3.7 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 3.8 percent in July.

The yield on the 10-year Treasury note was 0.1 percent higher in July.

Published at Thu, 02 Aug 2018 13:49:58 +0000

Brookfield Agrees to Buy Forest City Realty in $11.4 Billion Deal

Brookfield Agrees to Buy Forest City Realty in $11.4 Billion Deal

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Toronto-based Brookfield Asset Management Inc. and Forest City Realty Trust, Inc. (NYSE: FCE.A) said July 31 that Brookfield will acquire Forest City in an all-cash transaction valued at $11.4 billion, including debt.

Cleveland-based Forest City, founded in 1920, focuses on the ownership, development, management, and acquisition of commercial, residential, and mixed-use real estate in key urban markets. The REIT’s assets total $8 billion.

Published at Tue, 31 Jul 2018 16:50:49 +0000

Plymouth Industrial REIT Searches for “Mission-Critical” Property Acquisitions

Plymouth Industrial REIT Searches for “Mission-Critical” Property Acquisitions

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Jeff Witherell, CEO of Plymouth Industrial REIT (NYSE American: PLYM), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Plymouth Industrial REIT held its initial public offering (IPO) in June 2017, and Witherell said the company used the proceeds to pay down some short-term debt, with the majority of the capital going toward new acquisitions. “We [also] did a preferred equity issuance in late October of last year, so between the two offerings, we have in excess of $100 million of proceeds,” he added.

Published at Fri, 27 Jul 2018 18:21:28 +0000

Extra Space Storage CEO Says Sector in Midst of a Development Cycle

Extra Space Storage CEO Says Sector in Midst of a Development Cycle

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Joseph Margolis, CEO of Extra Space Storage Inc. (NYSE: EXR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

Margolis observed that the self-storage sector is in the midst of a development cycle, following a period of limited development after the financial crisis.

Published at Tue, 17 Jul 2018 12:17:35 +0000