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Michael Knott, managing director with Green Street Advisors, joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Knott offered an assessment of the valuations of health care properties in the current market. Deals that have taken place in the health care REIT sector in 2014 have helped to drive the value of health care real estate assets up “dramatically” and boosted the interest of capital markets in the sector, according to Knott.
Michael Glimcher, chairman and CEO of Glimcher Realty Trust (NYSE: GRT), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
NAREIT Chair David Neithercut, the president and CEO of Equity Residential (NYSE: EQR), joined REIT.com for a video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Neithercut’s tenure as NAREIT’s chair began this month. He described the current state of the REIT industry as “terrific,” noting that the absolute market cap of the REIT industry is approaching $ 900 billion and that the total enterprise value of the industry is approaching $ 2 trillion.
David Henry, CEO of Kimco Realty Corp. (NYSE: KIM), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Kimco has gone through a high volume of property acquisitions and dispositions in 2014.
“Like most of the industry post-recession, we have been all about recycling,” Henry said. “We’re trying to sell the bottom parts of our portfolio and add high-quality properties.”
Jon Bortz, chairman, president and CEO of Pebblebrook Hotel Trust (NYSE: PEB), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
Capital flows into the REIT sector from domestic and international investors remain robust, according to a panel of industry figures at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT.
The panelists also said the limited supply of real estate assets is pushing valuations higher.
“Capital is chasing a relatively few number of assets,” said Louis Taylor, senior vice president at Paulson & Co., Inc. “Prices are fair to pretty full.”
A panel at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT pointed to the decline in U.S. homeownership rates as a major factor supporting growth in the single-family rental business and the multifamily housing sector.
Sandy Paul, executive vice president with Delta Associates, discussed real estate transaction volume in the latest edition of the NAREIT Podcast.
Transactions are up across all major property types in the United States in the last five years, according to Paul. Deals involving office assets are up nearly 500 percent in 2014 from 2009, while apartment transaction volume has grown more than 400 percent in that same timeframe.
“The market has come back pretty strongly,” Paul said. “What we’ve seen over the past year is that there has been some plateauing of volume.”
