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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.
Ric Campo, chairman and CEO of Camden Property Trust (NYSE: CPT), 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.
Campo commented on Camden’s recent move to dispose of $ 1.2 billion in assets, which has allowed the company to renew and reposition its portfolio by investing in new development.
Ella Shaw Neyland, president of Steadfast Apartment REIT, joined REIT.com for a video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Steadfast Apartment REIT is a public, non-listed REIT that acquires and manages mid-tier apartments.
Neyland described the current acquisition conditions in Steadfast’s target. Neyland also discussed supply conditions in those markets.
In the latest episode of the NAREIT Podcast, Manus Clancy of Trepp discussed the declining number of delinquent loans in commercial mortgage-backed securities (CMBS).
Trepp data show that the percentage of delinquent CMBS loans—the delinquency rate—has trended downward in the last two years in conjunction with the recovery in the commercial real estate markets. It fell to 5.23 percent in October, down approximately 15 percent from the year-earlier level.
Lamar Advertising Co. (NASDAQ: LAMR) is ensuring that its billboards have a second lease on life once their advertising days are over.
Rather than ending up in a landfill, the billboards are repurposed by Los Angeles-based outdoor gear manufacturer Rareform into surfboard bags, backpacks, laptop sleeves, wallets, and other types of bags and accessories.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, discussed the difficult market conditions that prevailed on U.S. REITs in August.
The total returns of the FTSE NAREIT All REITs Index dipped 5.7 percent during the month, while the S&P 500 Index lost 6.0 percent.
“August was a very difficult month for investors. There really wasn’t any safe place to be invested,” Case said.
