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In the latest edition of Fundamentally Speaking, Calvin Schnure, NAREIT’s senior vice president for research and economic analysis, explained that underlying fundamentals of the broader economy remain positive, despite market gyrations.
Schnure noted that growth in gross domestic product (GDP) made a robust improvement in the spring. At the same time, sustained consumer spending, particularly for auto sales, has been evident. “In sum, the underlying economy looks quite good,” Schnure said.
In the latest episode of the NAREIT Podcast, Manus Clancy, managing director with Trepp, discussed some of the latest developments in the commercial mortgage-backed securities (CMBS) market.
Clancy described the market as “benign” from January to early June. Spreads began widening in June, he said.
Michael Schall, president and CEO of Essex Property Trust, Inc. (NYSE: ESS), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
According to Schall, the momentum that the apartment industry enjoyed in 2014 carried over into the first half of 2015. In the first quarter, Essex had same property net income growth of 10 percent from the year-earlier period, which Schall credited to the job market on the West Coast.
Spencer Kirk, CEO of Extra Space Storage, Inc. (NYSE: EXR), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
John Thomas, CEO of Physicians Realty Trust (NYSE: DOC), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.
Physicians Realty Trust is pursuing an investment-grade rating. Thomas said achieving that status fits with the company’s mentality of building for the long term. Since its founding, company executives have met with the ratings agencies to learn more about the path to obtaining an investment-grade rating, according to Thomas.
Speaking at a lunch panel on the first day of REITWeek 2015: NAREIT’s Investor Forum, executives from a diverse group of REITs expressed optimism regarding fundamentals in their particular market segments.
During the June 9 session moderated by David Neithercut, president and CEO of Equity Residential (NYSE: EQR) and NAREIT’s 2015 chair, the executives also pointed to favorable conditions in the capital markets.
In the latest episode of the NAREIT Podcast, Steven Marks, managing director with Fitch Ratings, offered his thoughts on the potential for stock exchange-listed REITs being taken private.
Private equity firm Blackstone announced two major real estate deals on April 10, underscoring the current vibrancy of the market, according to analysts.
