Phillips Edison–ARC Shopping Center REIT Seeing Rapid Expansion in 2014
D.J. Belock, senior vice president of finance with Phillips Edison & Company, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Belock discussed what type of criteria the company’s public, non-traded REIT, Phillips Edison-ARC Shopping Center REIT, looks for in potential acquisitions, as well as which markets are currently most attractive.
Efficiency of Information
Podcast: Yoel Kranz, Goodwin Procter LLP
Yoel Kranz, partner with the law firm Goodwin Procter LLP, discussed the latest trend towards consolidation in the real estate market in an interview for the latest edition of the NAREIT Podcast.
CoStar Economist High on Prospects for Industrial Sector
Hans Nordby, chief economist with CoStar, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Nordby was asked for his thoughts on sectors within the REIT industry that he expects to outperform. Of the “four major food groups” in the REIT market, Nordby singled out the industrial sector as the one that looks most promising in the near term.
SEC Official Discusses Steps REITs Can Take to Minimize Requests
Cicely LaMothe, senior assistant chief accountant in the Securities and Exchange Commission (SEC) Division of Corporate Finance-Real Estate, joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
LaMothe discussed steps that REITs can take to minimize SEC requests regarding their financial reporting.
REIT Returns Outpace Gains in Broader Market During First Quarter
Returns on equity REITs far outpaced gains seen in the broader market during the first quarter of 2014, and analysts expect solid fundamentals to continue to support the sector.
Total returns for the FTSE NAREIT Equity REITs Index gained just under 10 percent in the first quarter, compared with the 1.8 percent gain seen in the S&P 500 Index in the same period. Gains for the FTSE NAREIT All REITs Index stood at 8.6 percent in the first quarter.
REIT returns softened in March compared with the first two months of the year.
Essex Property Trust Joins S&P 500; Completes Merger with BRE
West Coast multifamily REIT Essex Property Trust, Inc. (NYSE: ESS) joined the S&P 500 Index on April 1, making it the 18th REIT to be included in the index.
Previously, Essex Property Trust was included in the S&P MidCap 400 Index.
Essex Property Trust is the first REIT to be added to the S&P 500 Index this year. Two apartment REITs, General Growth Properties, Inc. (NYSE: GGP) and Macerich (NYSE: MAC), were added last year.
Community Development Trust Raising Capital to Finance Affordable Housing
John Divers, COO and CFO of the Community Development Trust (CDT), joined REIT.com for a video interview during REITWise 2014: NAREIT’s Law, Accounting and Finance Conference held in Boca Raton, Fla.
Founded in 1998, New York City-based CDT is a private, hybrid REIT that is active on the debt and equity side of affordable housing projects.
Divers was asked about CDT’s capital-raising activities, which were particularly strong last year, and the outlook for future transactions.
American Realty Capital Healthcare Trust Lists on NASDAQ
American Realty Capital Healthcare Trust, Inc. (NASDAQ: HCT), which was created in 2011 as a public non-listed REIT, began trading April 7 on the NASDAQ Global Select Market.
In early trading on April 7, the share price of ARC Healthcare stock gained about 5 percent. The company also announced a tender offer to purchase up to $ 150 million in common stock from its shareholders.