Debra Cafaro, chairman and CEO of health care REIT Ventas, Inc. (NYSE: VTR), 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.
Lukas Hartwich, senior analyst at Green Street Advisors, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Hartwich discussed the factors contributing to lagging fundamentals in the lodging sector. The most prominent one, he said, is weakness in business travel and spending. Hartwich pointed out that business travel accounts for about 75 percent of demand for lodging REITs.
Mark DeCesaris, CEO of W.P. Carey Inc. (NYSE: WPC), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
W.P. Carey is a global net-lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions for companies worldwide.
Chris Dubrowski, a partner at Deloitte LLP, 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.
Rufrano highlighted the priorities that he has set since he took the helm at VEREIT’s predecessor, American Realty Capital Properties, Inc. (ARCP), in March. In addition to changing the name of the company, it was important to re-establish corporate governance in order to continue to gain credibility as a company, Rufrano explained.
Chatham invests primarily in extended-stay select service and full service hotels in the 25 largest metropolitan markets in the United States.
Fisher discussed Chatham’s pricing power with regard to room rates.
Landy said sales of manufactured housing are slow because buyers are struggling to find financing. However, UMH is doing “very well” with its rental business, Landy said.
Occupancy rates in most of UMH’s housing communities should reach “high 90 percent,” according to Landy.
In May, the company closed on the acquisition of the Four Seasons Austin hotel for $ 197 million. The hotel is located in the midst of the city’s central business district. Gellein commented on the qualities that attract Strategic Hotels to the Austin market.
We are in the midst of one of the sweetest times in our real estate careers. We are in the sweet spot of a fairly mature, but not-ending-soon market cycle for the real estate business. It is not universal, and I acknowledge that I have a biased perspective from my perch in San Francisco. But clearly the business is strong, and now is the time for those at the helm to make their dough and make their mark.