In the latest episode of the NAREIT Podcast, Rodney Ramcharan of the USC Lusk Center for Real Estate analyzed the impact of China’s currency devaluation on the real estate industry.
Office REIT SL Green Completes Purchase of NYC Building for $2.6 Billion
SL Green Realty Corp. (NYSE:SLG) said Aug. 18 that it completed the acquisition of office property 11 Madison Avenue in New York City for $ 2.6 billion.
The deal includes approximately $ 300 million in costs associated with lease-stipulated improvements to the property.
Kilroy: Upside Embedded in Office REIT Portfolio
John Kilroy, chairman, president and CEO of Kilroy Realty Corp. (NYSE: KRC), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Following the company’s sale of 10 West Coast office buildings earlier this year, Kilroy discussed the importance of capital recycling to the firm’s capacity to fund future growth.
Lodging REIT Seeing Benefits from Renovations
John Murray, president and COO of Hospitality Properties Trust (NYSE: HPT), joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Hospitality Properties Trust invests in hotels and travel centers in the United States, Puerto Rico and Canada. The company and three of its sister REITs recently announced they would acquire approximately half of their external manager, RMR LLC.
Lexington Realty CEO Says REIT Expects More Sale-Leaseback Deals
T. Wilson Eglin, president and CEO of Lexington Realty Trust (NYSE: LXP), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Lexington owns a diversified portfolio of equity and debt interests in single-tenant commercial properties and land. The company has increased its dividend 70 percent during the past four years. Eglin explained the factors behind that growth.
CMBS Delinquencies Continue on Downward Track
The delinquency rate for commercial mortgage-backed securities (CMBS) continues to head lower, as borrowers refinance debt ahead of a wave of maturities in 2017.
The CMBS delinquency rate, which includes loans that are 30 days or more past due, fell to 5.42 percent in July, compared with 5.66 percent six months ago and 6.04 percent a year earlier, according to commercial real estate consulting firm Trepp LLC.
REITs Up 5 Percent in July; Earnings Underscore Healthy Fundamentals
REITs turned higher in July as solid second quarter earnings reports reaffirmed that fundamentals in the sector remain healthy, analysts said.
The total returns of the FTSE/NAREIT All REIT Index gained 4.9 percent in July, while the S&P 500 Index rose 2.1 percent. The yield on the 10-year Treasury note dropped 0.1 percent for the month.
Through July 31, total returns from the FTSE/NAREIT All REIT Index for 2015 slipped 0.6 percent, while the S&P 500 Index was 3.4 percent higher in the same period.
Net Lease REIT Agree Realty on Track to Boost Acquisition Volume in 2015
Joey Agree, president and CEO of Agree Realty Corp. (NYSE: ADC), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Agree Realty REIT focuses on the development and acquisition of net lease retail properties throughout the United States.
During the six months to June 30, the company acquired 44 net lease properties for about $ 123 million. The properties are leased to 27 retail tenants operating across 17sectors, and are located in 18 states.
Shopping Center REIT Ramco-Gershenson Seeing Solid Occupancy
Dennis Gershenson, president and CEO of Ramco-Gershenson Properties Trust (NYSE: RPT), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Ramco-Gershenson owns and manages large, multi-anchor shopping centers in metropolitan markets within the United States.
Gershenson observed that occupancy levels for its core portfolio are particularly robust at this time, averaging about 95.5 percent.
Apple Hospitality REIT CEO Sees Strong Fundamentals in Second Half
Justin Knight, president and CEO of Apple Hospitality REIT, Inc. (NYSE: APLE), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Apple Hospitality listed on the NYSE in May. Knight said the feedback from investors in the wake of the move has been “very positive.”
