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Retail REIT Rouse Properties, Inc. (NYSE: RSE) said Feb. 25 that it has agreed to be acquired by an affiliate of Canadian firm Brookfield Asset Management Inc. for $ 18.25 per share in an all-cash transaction.
Brookfield already owns roughly one-third of Rouse and is offering to acquire the remaining ownership stake in the company.
Freestanding retail REITs are likely to remain market outperformers as long as the broader macroeconomic outlook remains uncertain, according to analysts.
As of Feb. 19, returns for freestanding retail REITs were 14.5 percent higher year-to-date. That compares with a 5.9 percent decline in returns for the FTSE/NAREIT All REIT Index.
R.J. Milligan, a senior analyst at Robert W. Baird & Co., describes the segment as “one of the top performers over the past 10 years.”
In the latest episode of the NAREIT Podcast, Eric Frankel, analyst with Green Street Advisors, discussed the latest developments in the industrial real estate market.
Amid a choppy global economic outlook, demand for industrial real estate has remained strong. Economic indicators suggest demand for space should be “fair to good,” but it has actually been “great,” according to Frankel.
Dennis Gershenson, president and CEO of Ramco-Gershenson Properties Trust (NYSE: RPT), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Ramco-Gershenson owns and manages multi-anchor shopping centers primarily in about a dozen of the largest metropolitan markets in the United States.
Retail REIT Rouse Properties, Inc. (NYSE: RSE) said Jan. 19 it has received an unsolicited takeover offer from Canadian firm Brookfield Asset Management Inc. (NYSE: BAM).
Brookfield already owns roughly one-third of Rouse and is offering to acquire the remaining 67 percent of the company.
Stuart Tanz, president and CEO of Retail Opportunity Investments Corp. (NASDAQ: ROIC), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
ROIC booked $ 310 million in acquisitions of grocery-based shopping centers during the first nine months of 2015. Tanz noted that the pace in 2015 matched that of the last several years. “Going forward, I think we’ll be able to continue that pace at probably around the same pace or a bit more,” he said.
Craig Macnab, CEO of National Retail Properties, Inc. (NYSE: NNN), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
As of the third quarter of 2015, National Retail’s funds from operations (FFO) were 8.5 percent higher than the year before. Macnab said the gains resulted from maintaining a portfolio that’s about 99 percent occupied.
Inland Real Estate Corp. (NYSE: IRC), an owner of neighborhood, community and power shopping centers, said Dec. 15 that it has agreed to be purchased for approximately $ 2.3 billion by real estate funds managed by DRA Advisors LLC.
Upon completion of the all-cash transaction, which includes the assumption of existing debt, Inland will become a privately held REIT.
Benjamin Schall, CEO of Seritage Growth Properties (NYSE: SRG), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Seritage is the real estate spinoff of Sears Holding Corp. It began trading as a public company in July.
