Category: REIT

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Professor Forecasting Strong Fundamentals for REITs

Glenn Mueller, a University of Denver professor and real estate investment strategist at Dividend Capital Group, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

Mueller said that based on occupancy and rent data, the real estate cycle appears to have moved through the recovery phase and is now in a strong growth phase in a majority of markets throughout the country.

Mueller indicated that the top of the cycle may have been reached in the apartment sector, whereas other property types have not yet reached that point.

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REITs With Higher GRESB Scores Outperform Peers, Study Finds

A new report concludes that committing to sustainability pays off for REITs.

REITs with higher Global Real Estate Sustainability Benchmark (GRESB) scores outperform their peers in terms of returns, according to a study from the University of Cambridge. The study also showed that when adjusted for risk, there is a significant link between REITs’ portfolio sustainability indicators and their performances in the stock market.

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China REITs Alliance Working to Expand Industry Knowledge

Fred Wang, secretary general of the China REITs Alliance, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

The China REITs Alliance was launched in Beijing in December 2014 and is backed by a memorandum of understanding with NAREIT, the Asia-Pacific Real Estate Association (APREA) and the European Public Real Estate Association (EPRA).

Wang noted that the alliance includes financial institutions, developers, lawyers and brokerage firms. It aims to establish a functioning REIT industry in China.

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Banker Foresees More REIT Privatizations in Near Future

Vick Seth, vice chairman of investment banking with Raymond James, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

Regarding trends in the real estate capital markets, Seth noted the recent retreat in REIT shares prices and upturn in volatility. However, neither has slowed capital formation in the public or private markets, according to Seth.

Vick Seth

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Unibail-Rodamco Still Reshaping Retail Portfolio

Jaap Tonckens, chief financial officer of Unibail-Rodamco (Paris: UL.PA), joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

Unibail-Rodamco began work in 2009 to reshape its portfolio and focus on large shopping centers located in wealthy and densely populated areas of major European cities. Tonckens said that although the company has exceeded its stated intentions in terms of culling the portfolio, the process is ongoing.

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Home Properties Agrees to $7.6 Billion Sale to Private Equity Firm

Home Properties

Multifamily REIT Home Properties, Inc. (NYSE: HME) said June 22 that it has agreed to be purchased by an affiliate of Lone Star Funds, a global private equity firm, in a deal valued at approximately $ 7.6 billion including debt.

Home Properties also said it agreed to contribute a portfolio of up to six properties containing up to 3,246 units to multifamily REIT UDR, Inc. (NYSE: UDR) in exchange for a combination of cash and newly issued units in a newly-formed subsidiary of UDR.

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Equinix Adjusting to Life as a REIT

Steve Smith, president and CEO of Equinix, Inc. (NASDAQ: EQIX), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

Equinix, which owns data centers around the world, became a REIT at the start of 2015 after waiting 31 months to receive a favorable private letter ruling from the Internal Revenue Service to allow for the conversion. Smith described some of the biggest changes for the company, including the transformation of its investor base.

Steve Smith

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REITs Rewarded for Capital Structure Preparations

Andrey Pavlov, professor of finance at Simon Fraser University, joined REIT.com for a video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

Pavlov presented a paper at the 2015 NAREIT/AREAUEA Real Estate Research Conference on REIT capital structures. Pavlov said his research underscored that investors rewarded those REITs that had prepared their capital structures for tough times in advance of the financial crisis.

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