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Scott Schaevitz, co-head of Americas real estate investment banking at Barclays, joined REIT.com for a video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Schaevitz said the window for more REITs to go private remains open.
“Last year, a handful of companies were trading at discounts to net asset value (NAV). Now, you have huge portions of the REIT market that are trading at discounts,” he observed.
Student housing REIT Campus Crest Communities, Inc. (NYSE: CCG) announced Oct. 16 that it has agreed to be purchased by affiliates of the private equity firm Harrison Street Real Estate Capital, LLC in a deal valued at approximately $ 1.9 billion.
Multifamily REIT Home Properties, Inc. (NYSE: HME) said June 22 that it has agreed to be purchased by an affiliate of Lone Star Funds, a global private equity firm, in a deal valued at approximately $ 7.6 billion including debt.
Home Properties also said it agreed to contribute a portfolio of up to six properties containing up to 3,246 units to multifamily REIT UDR, Inc. (NYSE: UDR) in exchange for a combination of cash and newly issued units in a newly-formed subsidiary of UDR.