REIT CEOs Look Ahead to 2017

REIT CEOs shared their perspectives on the outlook for 2017 during a series of video interviews held at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Tim Naughton, the 2017 NAREIT Chair and the chairman and CEO of AvalonBay Communities, Inc. (NYSE: AVB), stressed that committee assignments in Congress and the prospect of tax reform on the policy agenda means “we need to make sure our industry’s voice is heard.”

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Office REIT Columbia Property Trust Feeling Impact of Millennials

Nelson Mills, president and CEO of Columbia Property Trust (NYSE: CXP), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Mills said millennials continue to impact the office sector.

“There’s rigorous competition for millennial talent, and that shapes the location of the space and configuration,” Mills noted, when speaking on the leasing requirements of tenants.

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Single-Family REIT CEOs Upbeat on Long-Term Outlook

The single-family home rental sector should experience solid growth for at least the next decade, buoyed in part by demand from millennials, a shortage of housing and greater acceptance as a viable investment, according to the CEOs of single-family housing REITs.

The CEOs participated in a Dec. 6 panel discussion presented by the National Rental Home Council at the IMN SFR Investment Forum West in Phoenix.

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Host Hotels CEO Walter to Step Down

Host Hotels & Resorts, Inc. (NYSE: HST) announced Dec. 14 that W. Edward Walter will step down as president and CEO of the company at the end of the month.

Walter will be succeeded by James Risoleo, Host’s executive vice president and managing director of investments for the West Coast and Europe. Walter will remain with Host through the end of January to ensure a smooth transition, the company said.

Walter served as NAREIT chair in 2013.

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Data Center REIT Equinix Looks for More Benefits from Cloud Computing

Charles Meyers, chief operating officer of Equinix, Inc. (Nasdaq: EQIX), joined REIT.com for a video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Meyers commented on the outlook for cloud computing.

“The cloud phenomenon is a significant and durable source of incremental demand for the data center sector broadly – and Equinix specifically,” he said.

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Apple Hospitality REIT Reaping Benefits from Acquisition

Justin Knight, president and CEO of Apple Hospitality REIT (NYSE: APLE), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

In September, Apple Hospitality completed the acquisition of the public non-listed REIT Apple REIT Ten, Inc. Knight said some of the strategic benefits from the deal are starting to accrue to Apple Hospitality.

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MGM Growth Properties CEO Expects Record Visits to Las Vegas

James Stewart, CEO of MGM Growth Properties LLC (NYSE: MGP), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

MGM Growth Properties went public in April. Since then, the company has focused on “prudently and sustainably” growing adjusted funds from operations and its dividend, Stewart said.

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