REIT – Page 27 – Real Estate Investment Trusts

September 15, 2014

APREA Chief Sees Convergence in International REIT Rules

Peter Verwer, chief executive of the Asia-Pacific Real Estate Association (APREA), joined REIT.com at NAREIT headquarters in Washington for a video interview.

Verwer took over as head of APREA this year from former chief executive Peter Mitchell. Verwer discussed some of his priorities for the organization. He described the current environment in the Asia-Pacific market as “one of the greatest opportunities for real estate wealth creation that we’ve ever seen.” As such, he said his chief objective is to expand opportunities for real estate investment in Asia.

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September 2, 2014

Select Income REIT to Buy Cole Corporate Income Trust in $3 Billion Deal

Select Income REIT (NYSE: SIR), which primarily owns properties net leased to single tenants, said Sept. 2 that it has reached a deal to pay approximately $ 3 billion in cash and stock to acquire Cole Corporate Income Trust (CCIT), a public, non-listed REIT (PNLR).

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August 7, 2014

REIT Bondholders Benefitting from Strong Corporate Governance, Fitch Ratings Finds

Most U.S. Equity REITs have strong corporate governance attributes that benefit bondholders, and they should ease their concerns about the impact of investor activism, according to a report from ratings agency Fitch Ratings, Inc.

Based on its review of 64 U.S. Equity REITs, Fitch concluded that “corporate governance is pretty strong for bondholders in the REIT space,” said Sean Pattap, a senior director at Fitch. “The positives outweigh the negatives,” he added.

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August 6, 2014

NorthStar Realty Finance Plans to Acquire Griffin-American Healthcare REIT for $4 Billion

Diversified commercial real estate investment company NorthStar Realty Finance Corp. (NYSE: NRF) said Aug. 5 that it plans to acquire Griffin-American Healthcare REIT II, Inc., a public, non-listed REIT (PNLR), in a stock and cash transaction totaling $ 4 billion.

The transaction is expected to close in the fourth quarter. Under the terms of the deal, Griffin-American stockholders will receive $ 7.75 per share in cash and $ 3.75 per share in NorthStar Realty common stock. As part of the deal, NorthStar would assume $ 600 million in debt from Griffin-American.

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August 5, 2014

Quick Study: Broad Economy Dominates REIT Market Sentiment

In the latest edition of Quick Study, Brad Case, NAREIT’s senior vice president for research and industry information, offered an analysis of how the REIT market performed in July after a strong showing in the first half.

The total return on the FTSE NAREIT All REITs Index dipped 0.2 percent in July, although the decline was smaller than the 1.4 percent fall in the S&P 500 Index. For the year through July 31, the FTSE NAREIT All REITs Index had a total return of 15.9 percent, compared with a 5.7 percent gain by the S&P 500.

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July 31, 2014

NAREIT HR Forum to Address Benefits, Challenges of Developing REIT Talent

While REIT human resource executives understand the importance of providing top-notch leadership development programs to their most promising talent, convincing senior management of the effectiveness of such programs can be challenging, according to Rebecca Teasdale, a partner at The Trispective Group.

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July 30, 2014

French REIT Klepierre Reaches Agreement to Buy Dutch Firm Corio

French shopping center REIT Klepierre S.A. (Euronext Paris: LI) announced July 29 that it plans to purchase Dutch retail property company Corio NV (Euronext Amsterdam: CORA) in a transaction valued at $ 9.7 billion.

The combined property portfolio of the two companies would encompass 182 shopping centers across 16 European nations with a pro-forma gross asset value of more than $ 28 billion. The companies generated a combined net rental income of more than $ 1.6 billion in 2013.

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July 25, 2014

Fund Manager Highlights Income-Oriented Return of REIT Preferred Stocks

Joel Beam, portfolio manager at Forward Management, joined REIT.com for a video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.

Beam has primary responsibility for day-to-day management of the Forward Select Income fund, which focuses on REIT preferred stocks. Beam said the strong income-oriented return makes the preferred market attractive for investors.

“You get more safety and more income as you go up the capital stack,” he said.

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July 23, 2014

Real Estate Fund Manager Highlights Income-Oriented Return of REIT Preferred Stocks

Joel Beam, portfolio manager at Forward Management, joined REIT.com for a video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.

“You get more safety and more income as you go up the capital stack,” he said.

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July 18, 2014

BMO Banker Sees Widespread Activity in REIT Capital Markets

Mark Decker Jr., group head of U.S. real estate, lodging and leisure at BMO Capital Markets, joined REIT.com for a video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York.

Decker was asked which REIT sectors seem to be most active in the capital markets at this time.

“With the index up close to 15 percent right now, everybody is active and looking. It feels like [the office sector] has got some more wind in its sails. I think retail has some good wind in its sails,” he replied.

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