Commercial Real Estate Finance

Posts Tagged ‘NAREIT’

Forbes will publish a list of anything these days.

Still, I thought this was an interesting one: America’s Most Trustworthy Companies. The list includes both mid-cap and large-cap corporations in a wide array of industries. What is more, points out REIT.com, this list includes some of America’s largest real estate investment trusts. From an article published this month on NAREIT’s REIT.com, here are the Top 9 Most Trustworthy REITs in the U.S.:

• Essex Property Trust
• Kimco Realty Corp.
• Realty Income Corp.
• American Campus Communities
• Brandywine Realty Trust
• BRE Properties
• Government Properties Income Trust
• Highwoods Properties
• Post Properties

These are in no particular order, although it’s worth noting the first three REITs were included in Forbes’ “large-cap” section, the other six in the “mid-cap” category. Read the rest of this entry »

Llenrock Group’s Andrew Benioff talks to Frank Barrett, CEO of Pennsylvania-based Boyd/Wilson Property Management. They discuss the strengths and challenges of multifamily real estate (Part II):

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Llenrock Group’s Andrew Benioff talks to Frank Barrett, CEO of Pennsylvania-based Boyd/Wilson Property Management. They discuss the strengths and challenges of multifamily real estate (Part I):

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Read the rest of this entry »

As promised, here is part II of Llenrock Group’s interview with Tim Proctor, Senior Vice President and Real Estate Market Director of TD Bank. Be sure to visit Llenrock’s new YouTube channel for more!

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Mensch:

Noun, informal. A decent, upright, mature and responsible person.

Schlemiel:

Noun, slang. An awkward, clumsy, or unlucky person whose endeavors tend to fail; a loser.

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Mensch of the Week:

 Ed Walter

Chairman, NAREIT

 At NAREIT’s most recent convention, REITWorld 2012, Ed Walter of Host Hotels & Resorts (NYSE: HST) officially began his duties as the new chair for the Washington, D.C.-based industry organization. As chair, Mr. Walter enjoys a high-profile position in a very high-profile organization. NAREIT’s members include executives from the nation’s largest REITs, representing every facet of the sector, including retail, office, multifamily, and even self-storage.

Naturally, it is a very good time to serve as an officer, not to mention chair, in this organization. REITs have been extremely well represented in the press, thanks to their resilience (and even profitability) since the financial downturn in ’08. In an otherwise sluggish real estate market–and a generally bleak economy–REITs’ have actually expanded their activities, buying when others are selling, drawing in more and more investment capital along the way. Read the rest of this entry »

Week in Review for November 10 – 16:

- October returns on U.S. retail REITs outperform those of non-retail REITs, which saw an overall decline of 0.33%, according to data from NAREIT.

- In Pennsylvania, Hotel REIT Hersha Hospitality Trust (NYSE: HT), which sold its Harrisburg Hilton property in June for $22 million, is now bringing its buyer to court. Hersha’s founder, Hasu Shah, alleges the Colorado-based company which purchased the hotel at a steep discount did so through insider dealings. Hersha is seeking the nullification of the sale or financial compensation for its losses.

- According to CoStar Group‘s Commercial Repeat Sale Indices (CCRSI), overall commercial real estate pricing improved in the third quarter–and not only in multifamily or top-tier markets. The CCRI’s lead author, Dr. Ruijue Peng, suggests part of this pricing growth may be a result of the spike in investment-grade real estate transactions typical at the end of the year.

- In a high-profile meeting with members of his base, President Obama reiterates his commitment to cutting taxes for the middle class while letting tax cuts for the wealthiest Americans and corporations expire. This issue has been central in the run-up to the election and a cause of concern among members of the commercial real estate and finance industries.

-  In Philadelphia, high-calorie snack food manufacturer Hostess Brands (manufacturer of the Wonderbread and Twinkie brands) announces it is shutting down its Northeast Philadelphia bakery, closing its distribution centers in the Philadelphia suburbs, and pursuing bankruptcy liquidation of its remaining assets. The company’s bankruptcy will result in 18,500 layoffs and industrial property vacancies throughout the country.   Read the rest of this entry »

Week in Review for June 9 – 15:

- In the U.S., 2012‘s initial optimism begins to fade, with high-profile banking losses and uncertainty in Europe prolonging the timid investment climate.

- With its $220 million acquisition of CWCapital (NYSE: CWR), Walker & Dunlop (NYSE: WD) will become the second-largest multifamily lender and eighth-largest CRE lender in the U.S. The company’s increased size will also make it more essential to the workings of Fannie Mae and Freddie Mac, reports Globe St.

- At its 2012 shareholders meeting, Pennsylvania REIT (NYSE: PEI) promotes Joseph Coradino to CEO.

- Ramco-Gershenson Properties Trust (NYSE: RPT), a Michigan-based REIT, buys the Harvest Junction Shopping Center In Longmont, Colorado for $69.2 million. Read the rest of this entry »

Week in Review for June 2 – 8:

- Disappointing employment numbers from May roil the stock market. Businessweek reports U.S. employers added 69,000 jobs in May, fewer than forecast, with unemployment rising from 8.1 to 8.2 percent. The construction sector has seen a sharp decline in employment, losing 28,000 jobs in May.

- In more positive news, figures from the first quarter show bank defaults on commercial real estate loans have fallen to the lowest levels in 3 years, which analysts attribute to the increasing strength of multifamily and the more active debt market.

- Los Angeles Fire and Police, a $13.6 billion pension plan, reports it will invest up to 70% of its allotted real estate capital on core properties.

- In Thailand, regulations effective this month allow real estate investment through REITs. Thailand joins other countries with new or relaxed policies on REIT structures.

- STAG Industrial (STAG), a REIT focused on single-tenant industrial properties, acquires a 395,000 SF property in Reading, Pennsylvania. The Packaging Corp. of America building was sold by a limited partnership between Philadelphia-based Endurance Real Estate and Dallas-based Thackeray Partners.   Read the rest of this entry »

Here is a ranking of the Top 10 Exchange-Traded Funds (ETFs) in the Real Estate Sector:

10. PowerShares Active U.S. Real Estate ETF

9. iShares NAREIT Real Estate 50 ETF

8. iShares FTSE NAREIT Residential ETF

7. iShares FTSE NAREIT Mortgage REIT ETF

6. Schwab U.S. REIT ETF

5. First Trust REIT ETF

4. SPDR Dow Jones REIT ETF Read the rest of this entry »

In a survey of the Association of Foreign Investors in Real Estate (AFIRE), members discussed their top investment choices for 2012. Among other findings, the survey revealed the five most appealing cities for international investors:

1. New York City
2. London
3. Washington, DC
4. Sao Paulo
5. San Francisco

No one should be surprised that NYC and London occupy top spots on this list, but what I find funny (and maybe it’s just me) is the fact that a significant portion of Washington, D.C.–the center of government for our nation–is owned by foreign investors. (Last year, D.C. was #2 on the list, ahead of London).

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