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NAREIT has announced the election of its 2016 officers, as well as the members of its Executive Board, Board of Governors, and Audit and Investment Committee.
NAREIT’s new Chair is Edward Fritsch, president and CEO of Highwoods Properties, Inc. (NYSE: HIW). Fritsch takes over from NAREIT’s 2015 Chair, David Neithercut, president and CEO of Equity Residential (NYSE: EQR).
NAREIT’s Total REIT Industry Tracker Series (NAREIT T-Tracker) results for the third quarter of 2015 point to a steady improvement in REIT operating performance.
U.S. listed Equity REITs produced total funds from operation (FFO) of $ 13.4 billion in the third quarter, 2.7 percent higher compared with the second quarter and a 13.1 percent increase from the third quarter of 2014.
In the latest episode of the NAREIT Podcast, Manus Clancy of Trepp discussed the declining number of delinquent loans in commercial mortgage-backed securities (CMBS).
Trepp data show that the percentage of delinquent CMBS loans—the delinquency rate—has trended downward in the last two years in conjunction with the recovery in the commercial real estate markets. It fell to 5.23 percent in October, down approximately 15 percent from the year-earlier level.
Timber REITs Weyerhaeuser (NYSE: WY) and Plum Creek (NYSE: PCL) said Nov. 8 that they have agreed to merge, creating a combined company with a current market value of $ 23 billion.
The new company will retain the Weyerhaeuser name and ticker symbol. It will be the largest private owner of timberland in the United States, the companies said, with assets of more than 13 million acres. The companies also said they expect to realize annual cost synergies of $ 100 million.
