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With new shopping center supply at a standstill and acquisitions aggressively priced, Brixmor Property Group Inc. (NYSE: BRX) sees its best growth prospects within its existing property portfolio.
To tap those prospects, Brixmor introduced its Raising the Bar initiative more than three years ago. The program was formally unveiled to the public in late October 2014..
Peter Fass, partner at Proskauer Rose, LLP, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Fass observed that new customer account rules from the Financial Industry Regulatory Association (FINRA) aiming to increase transparency of public non-listed REITs (PNLR) have led to speculation about their impact on a number of fronts.
“There’s a lot of talk about how it’s going to affect sales. Who’s going to make the changes? Will it reduce fees to broker-dealers? We shall see,” he said.
Kimber Bascom, partner in the KPMG Department of Professional Practice, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Bascom downplayed concerns that the new leases standard will end leasing activity.
“There are many good reasons why leasing activity will continue to go on even after the accounting standards change,” he said.
Mark Decker Jr., group head of U.S. real estate at BMO Capital Markets, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Decker discussed the state of the real estate capital markets.
“They’re in great shape,” he said. “There’s a lot of access to all the markets. Pick your flavor. If you’ve got a good use for the money, there’s a lot of investor support,” he said.
Adam Cohen, executive director of tax at W.P. Carey Inc. (NYSE: WPC), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Cohen noted that one of the main challenges facing REIT tax directors concerns resource constraints.
“There are a lot of demands placed on the tax department, and we’re becoming increasingly integrated with the accounting and finance functions, but we don’t have enough people,” he said.
Private equity firm Blackstone announced two major real estate deals on April 10, underscoring the current vibrancy of the market, according to analysts.
The commercial real estate industry should see at least three more years of sustainable growth, based on a combination of sound economic and property market fundamentals, according to a survey of industry economists.
Ron Bohlert, manager of global listings at the New York Stock Exchange (NYSE), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Bohlert noted that initial public offering (IPO) activity during 2014 was “incredibly successful for the NYSE.” There were a total of 117 IPOs, which raised a total amount of $ 65 billion. While the Alibaba Group IPO contributed a sizeable portion of that total, “in terms of the number of deals and capital raised, it was still very successful on all fronts,” he said.
Sonia Barros, assistant director of the Division of Corporation Finance at the Securities and Exchange Commission (SEC), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Barros discussed how REITs are performing overall in terms of their SEC reporting. She noted that REITs differ from other industries with respect to their practice of providing information about property operating data in their supplemental packages.
Mike Stauffer, vice president of taxes at Kilroy Realty Corp. (NYSE: KRC), joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.
Stauffer commented that the biggest change Kilroy has had to deal with in recent years concerns tangible property regulations issued by the Internal Revenue Service (IRS).
