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Being one of the nation’s oldest REITs hasn’t stopped Washington REIT (NYSE: WRE) from moving quickly on an extensive transformation of its portfolio. In less than three years, it has metamorphosed from a predominantly suburban office REIT to an urban-infill focused player with significantly greater parity between office, multifamily and retail properties.
In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, said recent trends in the REIT market reversed somewhat during April.
The total returns of the FTSE/NAREIT All REIT Index fell 1.7 percent in April, while the S&P 500 Index added 0.4 percent.
“You could characterize April as a rebalancing month, where some of the sectors that have outperformed recently underperformed. Overall, it wasn’t a month of very large movements,” Case said.
Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).
Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $ 1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.
Since its listing on the New York Stock Exchange a year ago this month, there’s been little let-up in activity at Richmond, Virginia-based Apple Hospitality REIT, Inc. (NYSE: APLE).
Last month, the lodging REIT announced plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at approximately $ 1.3 billion. Apple REIT Ten was formed by Glade Knight, the executive chairman of Apple Hospitality. The merger would create one of the largest lodging REITs in the country.
In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Sara Neff, senior vice president for sustainability with Kilroy Realty Corp. (NYSE: KRC), reviewed the results of the office REIT’s 2015 sustainability report.
