Real Estate Investment Trusts

REIT returns were marginally lower in December, as the REIT market produced total returns of more than 9 percent in 2017.

The total returns of the FTSE Nareit All REITs Index fell 0.1 percent in December, while the S&P 500 posted a total return of 1.1 percent. For the year, the FTSE Nareit All REITs Index gained 9.3 percent; the S&P 500 returned 21.8 percent.

Benjamin Schall, president and CEO of Seritage Growth Properties (NYSEMKT: SRG), joined Nareit for a video interview at REITworld 2017.

Seritage is the real estate spinoff of Sears Holding Corp. It began trading as a public company in 2015.

Schall stated that the company’s leasing activity accelerated in 2017. As a result, Seritage has leased about 4 million square feet during the last two-and-a-half years.

James Nelson, president and CEO of Global Net Lease (NYSE: GNL), joined Nareit for a video interview at REITworld 2017.

Global Net Lease’s portfolio of real estate assets spans the United States, the United Kingdom, Germany, the Netherlands and Finland.

Nelson took over as CEO in August 2017. He explained that the company’s priorities include refinancing its debt stack, focusing on acquisitions and “growing the company again.”

Mark Decker Jr., president and CEO of IRET (NYSE: IRET), joined Nareit for a video interview at REITworld 2017.

IRET focuses on the ownership, management, acquisition, redevelopment and development of multifamily apartment communities.

Decker took over as president and CEO of IRET in April. He noted that the company’s management team has undergone substantial change in the past six months, as a new CFO and general counsel have also been appointed.

Christopher Benjamin, president and CEO of Alexander & Baldwin, joined Nareit for a video interview at REITworld 2017.

Alexander & Baldwin (NYSEMKT: ALEX) owns, operates and manages 4.8 million square feet of retail, industrial and office space primarily in Hawaii and on the U.S. mainland.

Owen Thomas, CEO of Boston Properties (NYSE: BXP), joined Nareit for a video interview at REITworld 2017.

Boston Properties owns and develops class-A office properties, with a significant presence in Boston, Los Angeles, New York, San Francisco and Washington, D.C.

Thomas commented on the growing popularity of mixed-use developments.

“We are increasingly seeing demand for properties that have all different kinds of uses…tenant demand is driving mixed-use,” Thomas said.

Privately held ShopOne Centers REIT, Inc. launched in October 2017 with a portfolio and a plan.

Changes to the tax code and the durability of the real estate cycle are among the key storylines to follow for REITs and real estate investment in 2018, according to economists from Nareit’s Research & Investor Outreach team.

James Taylor, Jr., president and CEO of Brixmor Property Group Inc. (NYSE: BRX), joined Nareit for a video interview at REITworld 2017.

Brixmor owns and operates a portfolio of open-air shopping centers, with approximately 500 properties located across 38 states.

Taylor said he expects Brixmor’s active pace of dispositions to continue.