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Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).
Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $ 1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.
Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).
Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $ 1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.
Stuart Eisenberg, partner and industry practice leader for real estate and construction services at BDO USA, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.
Eisenberg commented on the influence millennials are having on the real estate market.
In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Sara Neff, senior vice president for sustainability with Kilroy Realty Corp. (NYSE: KRC), reviewed the results of the office REIT’s 2015 sustainability report.
REITs dipped slightly in April, but the industry continued to outpace the broader market on a year-to-date basis.
The total returns of the FTSE/NAREIT All REIT Index fell 1.7 percent in April, while the S&P 500 Index added 0.4 percent. Through the end of April, the total returns of the FTSE/NAREIT All REIT Index were 4.1 percent, while the S&P 500 Index was 1.7 percent higher. The yield on the 10-year Treasury note was 0.5 percent lower during the first four months of the year.
Cousins Properties Inc. (NYSE: CUZ) and Parkway Properties, Inc. (NYSE: PKY) said April 29 that they have agreed to a stock-for-stock merger valued at approximately $ 1.95 billion. The transaction also involves the spinoff of the Houston-based assets of both companies into a new publicly traded REIT.
As Ramco-Gershenson Properties Trust (NYSE:RPT) nears its 20th anniversary as a publicly traded REIT in May, the shopping center owner continues to grow value by densifying and upgrading its portfolio.
The company has spent the last five years culling assets and making strategic acquisitions. It has cut its property holdings in the process from 90 centers in 2010 to 72 today. In that time, the value of its assets has more than doubled, according to Dennis Gershenson, president and CEO.
In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, veteran REIT investor Bob Steers reflected on his experiences launching the first real estate securities mutual fund in 1985 and offered his views on the future of the industry.
Carol Bradshaw, vice president of tax at Westfield Corp. (ASX: WFD), joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.
