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Paul Pittman, chairman and CEO of Farmland Partners Inc. (NYSE: FPI), 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.
Steven Marks, managing director with Fitch Ratings, 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.
Marks stated that development risk across most of the REIT industry is “pretty well boxed and under control.” According to Marks, development risk in terms of the cost to complete projects relative to gross asset values has declined in recent years.
Joe Margolis, chief investment officer, executive vice president and incoming CEO of Extra Space Storage Inc. (NYSE: EXR), 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.
Margolis joined Extra Space in 2015 and will succeed Spencer Kirk as CEO of the company at the beginning of 2017.
Margolis commented on the transition process, joking that he and Kirk have been “joined at the hip for about 18 months now.”
Bill Hankowsky, chairman and CEO of Liberty Property Trust (NYSE: LPT), 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.
Liberty sold $ 1.3 billion of non-core real estate in 2016. The disposition allowed Liberty to complete its portfolio repositioning and become a national industrial REIT, Hankowsky said.
Thomas McGuinness, president and CEO of InvenTrust Properties Corp., 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.
InvenTrust is a public non-listed REIT that focuses on open air retail centers.
Thomas Nolan, chairman and CEO of triple-net lease REIT Spirit Realty Capital (NYSE: SRC), 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.
Nolan said Spirit has now achieved its goal of becoming an investment-grade company. Access to the unsecured debt market allows Spirit to run its balance sheet and the entire company more efficiently, he added.
Data center REIT Equinix, Inc. (Nasdaq: EQIX) said Dec. 6 it has agreed to buy a portfolio of 24 data center sites from telecommunications company Verizon Communications Inc. for $ 3.6 billion in an all-cash transaction.
The 24 sites consist of 29 data center buildings across 15 metro markets in the United States and Latin America.
In a conference call, Steve Smith, president and CEO of Equinix, said the deal “positions us to continue to attract global data center demand.”
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, noted that Equity REITs and Mortgage REITs have been on divergent paths in recent months.
The total returns of the FTSE NAREIT All REITs Index dropped 2.0 percent in November, while the S&P 500 Index gained 3.7 percent. Total returns of the FTSE NAREIT All Equity REITs Index fell 2.4 percent in November, while total returns of the FTSE NAREIT Mortgage REITs Index gained 1.7 percent.
Michael Torres, CEO of Adelante Capital Management, 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.
Adelante is a global investment management firm focused on real estate securities, predominantly REITs.
Arlen Nordhagen, president and CEO of National Storage Affiliates (NYSE: NSA), 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.
National Storage Affiliates recently closed on the $ 650 million joint venture acquisition of iStorage. Nordhagen said the company has about another 30 assets under contract, or recently closed, bringing the year-end acquisitions total to about $ 1.3 billion.
