The Partnership Economy explores the power of partnerships through candid conversations and stories with industry leaders. Our hosts, David A. Yovanno, CEO and Todd Crawford, Co-founder, of impact.com, unpack the future of partnerships as a lever for scale and an opportunity to put the consumer first.
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Nareit에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Nareit 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Nareit's REIT Report Podcast와 비슷한 콘텐츠
Best Business Podcast (Gold), British Podcast Awards 2023 How do you build a fully electric motorcycle with no compromises on performance? How can we truly experience what the virtual world feels like? What does it take to design the first commercially available flying car? And how do you build a lightsaber? These are some of the questions this podcast answers as we share the moments where digital transforms physical, and meet the brilliant minds behind some of the most innovative products a ...
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Big tech is transforming every aspect of our world. But how, and at what cost? This season of Land of the Giants – The Disney Dilemma – focuses on Disney’s ability to weather the ups and downs of the business cycle and changing tastes and explores what has kept it successful for over 100 years. The entertainment giant has leveraged nostalgia and its intellectual property to build a beloved brand, but after an acquisition spree that included Marvel, Lucasfilm, and 20th Century Fox, can it sus ...
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It didn’t all change in March 2020. Not really. The UK high street has been in the throes of a gradual revolution for decades. From the rise of ecommerce, to the birth of mobile, social commerce, and a growing emphasis on experience, change has been underway for a while. In fact for many, the pandemic has acted as a wake-up call. Digital transformation was no longer a ‘nice to have’ but a matter of survival. Necessity sparked innovation and customers are enjoying more flexibility and conveni ...
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We Have The Receipts
1 Battle Camp S1: Reality Rivalries with Dana Moon & QT 1:00:36
1:00:36 
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좋아요Do you have fond childhood memories of summer camp? For a chance at $250,000, campers must compete in a series of summer camp-themed challenges to prove that they are unbeatable, unhateable, and unbreakable. Host Chris Burns is joined by the multi-talented comedian Dana Moon to recap the first five episodes of season one of Battle Camp . Plus, Quori-Tyler (aka QT) joins the podcast to dish on the camp gossip, team dynamics, and the Watson to her Sherlock Holmes. Leave us a voice message at www.speakpipe.com/WeHaveTheReceipts Text us at (929) 487-3621 DM Chris @FatCarrieBradshaw on Instagram Follow We Have The Receipts wherever you listen, so you never miss an episode. Listen to more from Netflix Podcasts.…
Nareit's REIT Report Podcast
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Nareit에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Nareit 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders.
459 에피소드
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모두 재생(하지 않음)으로 표시
Manage series 1157544
Nareit에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Nareit 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
A show about the latest news and developments in REITs and real estate investment. All episodes feature informative and timely interviews with REIT and publicly traded real estate executives, analysts, industry professionals, and thought leaders.
459 에피소드
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Nareit's REIT Report Podcast
1 Episode 493: AvalonBay on Repurposing & Revitalizing Communities Through Development 17:54
17:54 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:54
나중에 재생 나중에 재생 리스트 좋아요 좋아요Matt Birenbaum, chief investment officer at AvalonBay Communities, Inc. (NYSE: AVB), joined the REIT Report podcast to discuss the multifamily REIT’s development strategy, including the repurposing of outdated assets, as well as demand drivers in the build-to-rent segment, mixed-use development opportunities, and more. Birenbaum touched on some of the major themes in the multifamily sector today, including the increase in migration to suburban locations and the desire for larger format housing on the part of millennials. That has led to increased demand for build-to-rent homes, an area that AvalonBay is increasing its focus on. Birenbaum also noted that about a third of the REIT’s communities have a retail component. “When you get it right, the whole truly can be more than the sum of the parts. And for us, this is an area where I think we do have a competitive advantage being a REIT because we are building and owning these assets for the long term.”…
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Nareit's REIT Report Podcast
1 Episode 492: SPECIAL EPISODE - Using Climate Data Risk to Drive Decision Making 34:03
34:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요34:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요In this episode of the REIT Report special series, “Building Resilience,” Dr. Jeremy Porter, head of climate implications research at First Street Foundation, shares how data supports real estate stakeholders in making informed decisions and adapt to more extreme weather events. In this special episode of the REIT Report, part of an ongoing series, “Building Resilience,” covering issues facing the REIT industry as it remains focused on investing for the long term, Jeremy Porter, head of climate implications research at First Street Foundation , joins Nareit’s Jessica Long, senior vice president of environmental stewardship and sustainability, to discuss how high-resolution climate models are helping people to understand property-specific impacts from different weather events and to develop and implement adaptation plans. “One of the ways in which we've thought about climate risk is a one-in-a-100-year event, which implies that if I just had a one-in-a-100-year flood, I don't have to worry about another one, I'm not going to live to be 100 years old. That's not actually how they work,” Porter explains. “Understanding that every year there's an independent opportunity for that probability of an event to occur, so if you look out over the 30 years of a standard residential mortgage, a 1% chance of flooding every year means that over those 30 years, you have a 26% chance of flooding. And so suddenly you're saying, wow, I have over a quarter chance of flooding over the lifetime of my mortgage.”…
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Nareit's REIT Report Podcast
1 Episode 491: Easterly CEO Says Government Restructuring Efforts a Tailwind for Growth 16:35
16:35 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:35
나중에 재생 나중에 재생 리스트 좋아요 좋아요Darrell Crate, co-founder and CEO of Easterly Government Properties, Inc . (NYSE: DEA), joined Nareit’s REIT Report podcast to share his insight into how the REIT is addressing the commercial real estate needs of mission-critical U.S. government agencies. Crate noted that Easterly has been focused on efficiency since before the Trump administration created the Department of Government Efficiency (DOGE). “DOGE is a tailwind. We could not be more excited that the government's going to have the opportunity, through better processes, to take some of our ideas and move them forward,” he said.…
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Nareit's REIT Report Podcast
1 Episode 490: SageWater COO on How Infrastructure Solutions Protect Multifamily Assets & Investment - Sponsored Podcast 11:37
11:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요David Schanuel, president and COO of SageWater, joined a sponsored episode of the REIT Report podcast to discuss the importance in the multifamily sector of including plumbing and mechanical infrastructure in capital improvement planning. SageWater helps multifamily owners protect their investment and improve residents’ quality of life through turnkey plumbing and mechanical infrastructure solutions. With forensic diagnosis, engineering design, and construction services, they upgrade and install critical systems while renters remain in their homes. Schanuel noted that SageWater primarily focuses on the “substantial amount” of aged infrastructure in the multifamily sector that was delivered in the 1950s-1970s, and sometimes the early 1980s. “Their plumbing and mechanical systems have aged out or phased out of their useful life and really need to be addressed to ensure that the housing stock remains a top-quality asset for the ownership groups that maintain and rent out those facilities.”…
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Nareit's REIT Report Podcast
1 Episode 489: Morgan Stanley CFPs Say Discipline is Key to Long Term Investing 14:56
14:56 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:56
나중에 재생 나중에 재생 리스트 좋아요 좋아요David Giulieri and Michael Svec, senior portfolio management directors and certified financial planners with the Chesapeake Capitol Group at Morgan Stanley, were guests on Nareit’s REIT Report podcast. In recognition of April as Financial Literacy Month, Giulieri and Svec touched on a range of topics relevant to novice and seasoned investors alike. Both Giulieri and Svec emphasized the importance of staying calm and focused in today’s volatile market environment. “If you can stay disciplined during times like this, the odds of success skyrocket,” Giulieri said. Svec advised listeners to “have a plan, stick to it, and do your best to keep the emotion out of it.” During the interview, Giulieri and Svec also addressed: key questions to ask a potential financial advisor how to balance the need to have funds available for key financial milestones, like buying a home or paying for college, with ensuring that you're also saving for retirement advice for anyone already on the investment path, with a 401K or other investment vehicle, who's tempted to look at their latest account statement right now whether this is potentially a good time to either begin investing in the markets or to put additional funds in what a balanced investment portfolio might look like and how REITs could fit into that…
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Nareit's REIT Report Podcast
1 Episode 488: Jasper Street's Rob Main on REITs and the Reporting Landscape 11:55
11:55 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:55
나중에 재생 나중에 재생 리스트 좋아요 좋아요Rob Main, managing partner at the shareholder advisory firm Jasper Street, joined the latest episode of Nareit’s REIT Report podcast. He discussed sustainability reporting and practical steps REITs can take to navigate the proxy season. Main described the corporate mood heading into proxy season as “anxious.” For many companies, however, as long as they've been engaging with their investors, have good disclosure, and aren't viewed as outliers by institutional investors, “they're probably going to have a good proxy season,” he said. Investors, meanwhile, are “cautious,” he said, and are likely to be more “tight-lipped” given recent SEC guidance. At the same time, their core belief about the importance of strong governance practices remains intact.…
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Nareit's REIT Report Podcast
1 Episode 447: Green Street Sees REITs as a “Relative Safe Haven” Amid Market Volatility 9:43
9:43 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:43
나중에 재생 나중에 재생 리스트 좋아요 좋아요Danny Ismail, co-head of strategic research at Green Street, joined Nareit’s REIT Report podcast to discuss how real estate and REITs are positioned in the current highly volatile market environment created by last week's White House announcement on tariffs. Ismail said there's good reason to fear a slowdown in economic growth resulting from an increase in tariffs, not just from potentially higher import costs, but also a pullback in business investment as well as consumer spending. As for the market response, “we'll see how the next few weeks shake out, but thus far REITs and real estate appear to be a relative safe haven,” Ismail said. One reason for that is the starting valuation of REITs prior to the tariff announcement, where REITs looked attractive relative to the S&P 500. “REITs came into this environment on the cheaper side, while private real estate came in looking fairly valued,” Ismail noted.…
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Nareit's REIT Report Podcast
1 Episode 446: Piedmont CFO Sherry Rexroad Sees Capital Markets Easing in Second Half of 2025 8:08
8:08 나중에 재생 나중에 재생 리스트 좋아요 좋아요8:08
나중에 재생 나중에 재생 리스트 좋아요 좋아요Sherry Rexroad, executive vice president and CFO at Piedmont Office Realty Trust, Inc . (NYSE:PDM), was a guest on the latest episode of Nareit’s REIT Report podcast. Rexroad discussed ways to work within the current environment of shifting interest rates, recession worries, and geopolitical tensions in order to remain consistent on strategy. “It’s really important to differentiate between short-term volatility and secular change. Short-term volatility needs to be managed and monitored. It can be a distraction if you let it be,” she said. She noted that between 2019 and 2022, Piedmont shifted $1.4 billion of assets, or roughly a third of the portfolio, out of Chicago, Washington, D.C., Philadelphia, New Jersey, and Cambridge, Massachusetts, and into Atlanta and Dallas.…
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Nareit's REIT Report Podcast
1 Episode 445: Mizuho’s Vikram Malhotra on Real Estate Implications of Growing Senior Population 10:37
10:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요Vikram Malhotra, managing director, real estate equities and research at Mizuho, joined the latest episode of the Nareit REIT Report podcast to share some of the findings from recent Mizuho research into the economic and investment implications likely to result from an aging population. Malhotra noted that the 75-plus cohort in the United States is set to grow at about 4% per annum over the next five to 10 years. By 2030, the group will represent 10% of the total population, up from 7.5% today. At the same time, their spending is expected to grow over 80%, or $700 billion, through 2030.…
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Nareit's REIT Report Podcast
1 Episode 444: Nareit Hawaii Executive Director on Making the State a Better Place for Future Generations 10:24
10:24 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:24
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nareit Hawaii Executive Director Gladys Quinto Marrone was a guest on the latest episode of Nareit’s REIT Report podcast. Marrone discussed the mission of Nareit Hawaii, including its community outreach work. As to how the Nareit Hawaii Community Giving Initiative, established by the Nareit Foundation, goes about selecting the programs it chooses to support, Marrone noted, “We try to ensure that grantees come from all around the state and serve as many people as possible.” Typically, four to five Nareit Foundation grants have been awarded annually, totaling about $350,000 to $400,000. In addition, five to six grants a year totaling $150,000 to $200,000, from Nareit Hawaii are awarded to nonprofits supporting a variety of charitable causes. https://nareithawaii.com/…
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Nareit's REIT Report Podcast
1 Episode 443: Cohen & Steers’ Ji Zhang Sees Scope for REITs to Outperform Equities 8:27
8:27 나중에 재생 나중에 재생 리스트 좋아요 좋아요8:27
나중에 재생 나중에 재생 리스트 좋아요 좋아요Ji Zhang, portfolio manager for global real estate at Cohen & Steers, was a guest on the latest episode of Nareit’s REIT Report podcast. Zhang spoke about her firm’s recent entry into the active exchange traded fund space, including the Cohen & Steers Real Estate Active ETF. Zhang explained that the ETF is designed specifically to invest in “high conviction ideas” in U.S. REITs, while opportunistically investing in international and other real estate-related securities. “The ultimate goal is to provide total return and portfolio diversification,” she said. The backdrop for REIT fundamentals is “quite healthy,” supported by steady demand and meaningfully below-trend supply, Zhang said…
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Nareit's REIT Report Podcast
1 Episode 442: Uptick in REIT Leadership Transitions Expected to Continue: Ferguson Partners 17:59
17:59 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:59
나중에 재생 나중에 재생 리스트 좋아요 좋아요Bill Ferguson, co-chairman and CEO of Ferguson Partners, and Mike Cordingley, who leads Ferguson’s North American Management Consulting and Leadership Consulting Business Units, were guests on Nareit’s REIT Report podcast. Ferguson and Cordingley discussed their latest research into REIT CEO succession trends and shared best practices for transition planning. “Succession is, if not the highest priority for the board, one of the highest priorities,” Ferguson said. He noted that there were seven CEO succession events per year from 2013 to 2022. In 2023, there were nine and in 2024 that increased to 12. Cordingley noted that the acceleration is set to continue for a number of reasons, including increasing activist involvement and an aging leadership cohort. “The average age per REIT CEO is 60 and typical retirement is occurring around 64,” he said.…
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Nareit's REIT Report Podcast
1 Episode 441: REIT Performance Over 25-Year Period Warrants Inclusion in Investment Portfolios: CEM 16:20
16:20 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:20
나중에 재생 나중에 재생 리스트 좋아요 좋아요Maaike van Bragt, senior research associate, and Chris Flynn, head of product development at CEM Benchmarking, were guests on the latest episode of Nareit’s REIT Report podcast. Van Bragt and Flynn discussed some of the findings from the 2024 CEM Benchmarking study into investment performance across various asset classes. In research sponsored by Nareit, CEM Benchmarking took a comprehensive look at investment allocations and realized investment performance across 12 asset classes over a 25-year period (1998–2022). While private equity was the strongest performer over that period, with an average net return of about 12%, REITs and U.S. small cap stocks came in second place with average returns of about 9.7%. Returns for private real estate were about 7.7% during the 25-year period. Van Bragt said CEM’s research “really shows that on a net return basis, REITs have done really well in the past 25 years. And so if you have real estate in your asset allocation, I think you should seriously consider using REITs or at least adding them to it.” Read the CEM Study: https://www.reit.com/data-research/research/updated-cem-benchmarking-study-highlights-reit-performance…
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Nareit's REIT Report Podcast
1 Episode 440: Prologis Sees Rebalance of Logistics Real Estate Supply & Demand in 2025 12:46
12:46 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:46
나중에 재생 나중에 재생 리스트 좋아요 좋아요Melinda McLaughlin, global head of research at Prologis, Inc . (NYSE: PLD), was a guest on the latest episode of Nareit’s REIT Report podcast. She discussed broad trends impacting logistics today, including global trade, delivery speeds, new construction, e-commerce, rising barriers to supply, standout global markets, and more. McLaughlin said 2025 looks set to be a “solid year” for both consumption and global trade, based on strong labor markets. E-commerce, meanwhile, is “absolutely gaining market share in all of our markets around the world,” she noted. At the same time, there's been a lack of construction for the largest logistics buildings since 2022, McLaughlin pointed out. “Today, and looking at 2025 as a whole, we see deliveries down 35% year over year for all types of logistics real estate, but that number is a 65% decline for bulk buildings, so really setting the stage for demand and supply to rebalance and maybe even have some scarcity in certain markets.”…
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Nareit's REIT Report Podcast
1 Episode 439: JLL Income Property Trust’s Allan Swaringen Sees Continued Growth for NAV REITs 10:53
10:53 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:53
나중에 재생 나중에 재생 리스트 좋아요 좋아요Allan Swaringen, president and CEO of JLL Income Property Trust , was a guest on the latest episode of Nareit’s REIT Report podcast. JLL IPT is a daily NAV REIT that owns and manages a diversified portfolio of apartment, industrial, grocery-anchored retail, health care, and office properties located in the United States. Swaringen said JLL IPT’s mission is to be a hybrid investment that balances the stability of performance in the private real estate markets with the same history of consistent, growing dividends that public REIT investors look for.…
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Nareit's REIT Report Podcast
1 Episode 438: Citi Global Real Estate Outlook Sees Mix of Regional Trends in Play for 2025 13:41
13:41 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:41
나중에 재생 나중에 재생 리스트 좋아요 좋아요Three members of Citi’s global real estate research team—Nick Joseph in the United States, Aaron Guy in the U.K., and Howard Penny in Australia—joined the latest episode of the Nareit REIT Report podcast to share their thoughts on regional outlooks and sector performance. Macro fundamentals, interest rates, and geopolitical sentiment are mixed globally, resulting in stock preferences that are heavily driven by regional teams’ micro analysis, Joseph said. The key driver behind Citi’s list of most preferred stocks in 2025 is the presence of positive rental growth, with rental growth weakness and high valuation the key reasons for the least preferred subsectors. Sector preferences are not globally consistent, Joseph stressed, highlighting the presence of significant local supply and demand drivers. Regionally, Citi is most positive on the U.S., Australia, Europe, the Philippines, and Indonesia, and more cautious on China, Latin America, India, Japan, Singapore, Hong Kong, and Thailand.…
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Nareit's REIT Report Podcast
1 Episode 437: CBRE’s Richard Barkham Sees New Real Estate Cycle Emerging in 2025 16:54
16:54 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:54
나중에 재생 나중에 재생 리스트 좋아요 좋아요Richard Barkham, chief economist at CBRE, was a guest on the latest episode of Nareit’s REIT Report podcast. CBRE is forecasting GDP growth of about 2.3% this year. With the economic momentum of 2024 continuing into 2025, “I think we're seeing the slow start to a new real estate cycle,” as vacancy begins to trend lower and rental growth generally firms and starts to head higher, Barkham said. Barkham described investor sentiment as “very positive” given the GDP forecast and the outlook for the year, “and based on the fact that people haven't been active for two or three years, or not very active….people are anxious to get moving and adjust their portfolios and deploy capital.”…
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Nareit's REIT Report Podcast
1 Episode 436: Nareit’s Abby McCarthy on the Benefits REITs Offer to Investment Portfolios 7:28
7:28 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:28
나중에 재생 나중에 재생 리스트 좋아요 좋아요Abby McCarthy, Nareit’s senior vice president for investment affairs, joined the REIT Report podcast to discuss the value REITs can provide to an overall investment portfolio. “REITs offer investors a low cost, effective, and liquid means of investing in commercial real estate. As real estate stocks, they provide meaningful benefits to investment portfolios, which does include competitive long-term total returns, a strong portfolio diversification, and stable dividend income,” McCarthy said. Research shows that 78% of financial advisors recommend REITs to their clients, McCarthy said, with advisors appreciating their dividend income, diversification opportunities, strong risk-adjusted returns, and liquidity.…
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Nareit's REIT Report Podcast
1 Episode 435: JLL’s Sher Hafeez Sees Potential for Strategic Transactions by REITs in 2025 10:20
10:20 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:20
나중에 재생 나중에 재생 리스트 좋아요 좋아요Sher Hafeez, senior managing director of JLL’s M&A and corporate advisory group, was a guest on the latest episode of Nareit’s REIT Report podcast. Hafeez discussed how REITs are trading at a premium to net asset value, with certain sectors, including health care, data centers, and office accounting for the lion’s share of that premium. Many of these sectors are taking advantage of this cost of capital benefit and have issued equity to shore up capital to be on the offensive in 2025, Hafeez said. “I’d expect REITs to be pretty active acquirers compared to the last couple of years,” he added.…
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Nareit's REIT Report Podcast
1 Episode 434: REIT Access to Debt Markets, Ability to Issue Equity, Points to Growth Opportunities in 2025 10:26
10:26 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:26
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Worth, Nareit executive vice president, research and investor outreach, was a guest on the latest episode of the REIT Report podcast. Worth discussed some of the key features of Nareit’s recently-published 2025 REIT Outlook . REITs have ready access to unsecured debt markets as well as the ability to issue equity, Worth said, which puts the sector in a strong position for 2025. Meanwhile, Nareit has identified four key megatrends that will continue to shape the global REIT landscape over the coming decade: specialization, scale, innovation, and sustainability. “All four of them are areas where REITs are really well poised and have real ability to execute,” Worth said. 2025 REIT Outlook: https://www.reit.com/news/blog/market-commentary/finding-opportunities-reit-market-outlook-2025…
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Nareit's REIT Report Podcast
1 Episode 433: SPECIAL EPISODE: U.S. CRE Contributes to the Global Discussion on Climate Risk 21:48
21:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요21:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요In this episode of the REIT Report special series “Building to Zero,” Elena Alschuler, head of sustainability, Americas, LaSalle Investment Management, shares how the U.S. real estate industry has advanced the discussion on future planning for energy investments and reducing building-related carbon emissions. Elena Alschuler, head of sustainability, Americas, LaSalle Investment Management, who recently served as the working group chair for the CRREM North America project, joined this final episode of the REIT Report special series focused on building on the real estate industry's journey to reduce emissions from the built-in environment to zero. She shares her experience in engaging the U.S. real estate community in a deep and thoughtful discussion around the CRREM Framework’s approach and methodology for measuring transition risk to institutional real estate portfolios. Alschuler shares how “a couple of years ago, a lot of investors were starting to look at these CRREM curves, and we liked the idea of having forward-looking targets to benchmark against in terms of planning energy and carbon performance. But when we started looking at portfolios against this particular set of curves, many of us were getting crazy results. So, twelve [U.S. and Canadian] real estate companies, including LaSalle, decided to co-fund a ULI working group, which was supported by the CRREM team in Europe, to do industry engagement and Larence Berkely National Labs (LBNL) to do the technical work.”…
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Nareit's REIT Report Podcast
1 Episode 432: REIT Premiums Could Spark Vigorous Deployment of Capital in Some Sectors: Green Street 13:23
13:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Cedrik Lachance, director of research at Green Street, was a guest on the latest episode of Nareit’s REIT Report podcast. He discussed key priorities for the REIT sector, opportunities for growth, valuation levels, IPO prospects, trends in Europe, and more. Lachance said that with the REIT market bestowing “pretty meaningful premiums in some sectors, we expect to see a fairly aggressive deployment of capital” from companies in the data center and health care sectors, self-storage, and to some extent retail. He added that there are also companies in the office sector trading at premiums to NAV and “that's going to influence how they allocate capital.” Green Street sees the strongest rent growth potential in data centers. “That story has been well told, but it remains an area where we think there's meaningful upside,” Lachance said.…
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Nareit's REIT Report Podcast
1 Episode 431: Institutional Real Estate Investors Boost REIT Allocations in Latest Hodes Weill Survey 11:50
11:50 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:50
나중에 재생 나중에 재생 리스트 좋아요 좋아요Doug Weill, managing partner at Hodes Weill and Associates, was a guest on the latest episode of the Nareit REIT Report. Hodes Weill recently released its 2024 Real Estate Allocations Monitor which showed that about 39% of institutions actively allocated capital to REITs in 2023, compared with 36% the prior year. Sovereign wealth funds were “meaningfully more active,” Weill said. “I think this is an ongoing trend where institutions are increasingly active out of their real estate allocations in REITs. And REITs are increasingly a complement to private market investments.” About 67% of institutions indicated that liquidity is one of the key reasons why they invest in REITs, which was up from about 46% the prior year.…
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Nareit's REIT Report Podcast
1 Episode 430: Commercial Real Estate on Cusp of Next Upturn: PwC 12:25
12:25 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:25
나중에 재생 나중에 재생 리스트 좋아요 좋아요Andrew Alperstein, real estate partner at PwC, was a guest on the latest episode of Nareit’s REIT Report podcast. Alperstein said a key theme from the PwC/Urban Land Institute Emerging Trends in Real Estate® 2025 report is that commercial real estate is at the outset of a new cycle, one that is likely to result in increased activity and improved momentum in the year ahead. “We were pleasantly surprised and pleased to see an improvement in sentiment as we looked at our 2025 publication relative to 2024 and 2023,” Alperstein said, “particularly given we've had a challenging couple of years with higher interest rates and really a lack of transaction activity.” Alperstein added that the interest rate environment forms “a very important piece of the momentum that we hope to see going into next year.”…
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Nareit's REIT Report Podcast
1 Episode 429: SPECIAL EPISODE: CRE Provides Lessons Learned on Building Performance Standard Regulations 28:32
28:32 나중에 재생 나중에 재생 리스트 좋아요 좋아요28:32
나중에 재생 나중에 재생 리스트 좋아요 좋아요In this episode of the REIT Report special series “Building to Zero,” Duane Desiderio, senior vice president at the Real Estate Roundtable (RER) shares a recently released 20-point policy guide which outlines lessons learned from the building owner perspective over the past seven years since the first building performance standard was implemented in 2017. Since Local Law 97 was passed by the City Council in New York City as part of the Climate Mobilization Act in April 2019, commercial building owners in the United States have experienced the rise in regulations know as Building Performance Standards (BPS), which are intended to regulate the use of energy in existing buildings. Buildings owners are currently navigating a patchwork of law with various rules, processes, and compliance pathways in cities and states across the county. “A good way to start the conversation is by drawing a bit of a contrast to the climate and energy policies on buildings that we've seen come from the federal level, where the emphasis has been on carrots not sticks, incentives to encourage buildings to push the envelope to reduce emissions to become more efficient. At the state and local level unlike the federal level, these BEPS laws would impose mandatory limits on buildings to either reduce their energy by certain amounts every year or to reduce their carbon emissions every year or in some cases both.”…
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Nareit's REIT Report Podcast
1 Episode 428: Deloitte 2025 CRE Outlook Points to “Major Boost” in Optimistic Sentiment 11:09
11:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요Sally Ann Flood, vice chair and U.S. real estate sector leader at Deloitte, was a guest on the latest episode of Nareit’s REIT Report podcast. She reviewed highlights of the firm’s 2025 commercial real estate outlook, which indicates that next year could be a potential turning point for the sector. “After two consecutive years where most survey respondents expected revenue declines, this year 88% of global respondents now report they expect revenues to increase going forward,” Flood said.…
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Nareit's REIT Report Podcast
1 Episode 427: Top-Down Recovery Evident in Office Sector: JLL 22:55
22:55 나중에 재생 나중에 재생 리스트 좋아요 좋아요22:55
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jacob Rowden, senior manager for U.S. office research at JLL, was a guest on the latest episode of Nareit’s REIT Report podcast. He noted that within the last year, a top-down recovery has been evident in the office sector that is now beginning to spill over more broadly. Rowden noted that factors supporting a more positive direction for the sector include employees spending more time in the office, a lack of new construction, and a record volume of office inventory being removed for conversions or redevelopments to other property types.…
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Nareit's REIT Report Podcast
1 Episode 426: Nareit 2024 Compensation Survey Shows Voluntary Turnover Fluidity Starting to Stabilize 5:32
5:32 나중에 재생 나중에 재생 리스트 좋아요 좋아요5:32
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jeremy Banoff, vice chairman of Ferguson Partners and co-leader of the firm’s Compensation Consulting group, was a guest on the latest episode of the Nareit REIT Report podcast. Banoff discussed some of the key findings from the 2024 Nareit Compensation & Benefits survey, which is conducted by Ferguson Partners and sponsored by Nareit. The participation rate for this year’s survey represents approximately 72% of the U.S. listed equity REIT industry’s total market capitalization. This year’s survey showed a slight downward shift in voluntary turnover levels. Banoff explained that in the past few years, the baseline has been relatively higher, with “the pendulum tilted toward employees.” That’s now started to stabilize, with the pendulum swinging back toward employers, he said, although “not all the way.”…
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Nareit's REIT Report Podcast
1 Episode 425: EY’s Brandon Pizzola Says REIT Industry’s Economic Footprint Continues to Grow 6:00
6:00 나중에 재생 나중에 재생 리스트 좋아요 좋아요6:00
나중에 재생 나중에 재생 리스트 좋아요 좋아요Brandon Pizzola, economist in EY’s Quantitative Economics and Statistics (QUEST) practice, was a guest on the latest episode of Nareit’s REIT Report podcast. Nareit commissioned EY to estimate the economic contribution of U.S. REITs in 2023, the most recent year of complete information. The data showed that REITs supported an estimated 3.5 million full-time equivalent (FTE) jobs and $278 billion of labor income. “The one thing to flag is that REITs continue to grow,” Pizzola said. He pointed out that in 2021, the economic footprint of REITs was 3.2 million FTE jobs, with that number growing to 3.4 million in 2022, before rising again in 2023. The data encompasses public listed, public non-listed, and private REITs.…
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Nareit's REIT Report Podcast
1 Episode 424: Principal’s Todd Kellenberger Says Rate Cuts Likely to Boost REIT Property Values 12:06
12:06 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:06
나중에 재생 나중에 재생 리스트 좋아요 좋아요Todd Kellenberger, REIT client portfolio manager at Principal Asset Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Kellenberger discussed how REITs are likely to perform amid either an economic soft landing or mild recession, as well as the impact of lower interest rates on the sector. “The general trajectory of where markets are headed is favorable for real estate,” Kellenberger said. He noted that the Federal Reserve is seeking to ease monetary conditions to avoid an economic hard landing, “and that will importantly bring down the cost of capital for real estate and likely bring a recovery to property values.”…
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Nareit's REIT Report Podcast
1 Episode 423: AEW’s Mike Acton Sees CRE Investors Adopting Micro Focus on Assets, Location 11:23
11:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Mike Acton, head of research at AEW Capital Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Acton discussed the broader macro backdrop for commercial real estate. While markets are excited about the prospect of interest rate cuts, that sentiment is set against concern about potential recession and possible policy changes after the election. “It's a little bit of a mixed bag as far as the broader outlook goes.” During the interview, Acton also noted that at this stage, most investors have rebalanced their portfolios along property sector lines. Going forward, it's likely going to be less about what specific property sectors investors are targeting and probably a lot more about the quality of the individual properties and locations. “Micro locations are becoming much, much more important in the investment decision than say market decisions,” he said.…
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Nareit's REIT Report Podcast
1 Episode 422: Phillips Edison, Cohen & Steers Join Forces in Grocery-Anchored Retail Shopping Sector 18:26
18:26 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:26
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jeff Edison, chairman and CEO of Phillips Edison & Company, Inc. (Nasdaq: PECO), and James Corl, head of the private real estate group at Cohen & Steers, were guests on the latest episode of the Nareit REIT Report podcast. PECO and Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) have formed a joint venture focused on acquiring open-air grocery-anchored shopping centers. The joint venture is 80% owned by CNSREIT and 20% by PECO and is targeting $300 million in equity. In the interview, Edison and Corl discuss the clear benefits they see from their partnership, their shared perspectives on what makes a strong investment in the sector, and the outlook for future growth.…
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Nareit's REIT Report Podcast
1 Episode 421: Teacher Retirement System of Texas Directors Share Tactical REIT Investment Strategy 21:49
21:49 나중에 재생 나중에 재생 리스트 좋아요 좋아요21:49
나중에 재생 나중에 재생 리스트 좋아요 좋아요Brendan Cooper and Jared Morris, directors at Teacher Retirement System of Texas (TRS), joined the latest episode of Nareit’s REIT Report podcast to discuss how TRS tactically invested in REITs during a period of public and private real estate valuation divergence. In 2022, the TRS Strategic Property REIT Execution and Delivery (SPREAD) team were monitoring a sell-off in public REITs and were ready to take action. One quarter of TRS’s total $400 million commitment was initially invested in December 2022, half was deployed in March 2023, and the remaining quarter was invested in October 2023. During that period, the internal rate of return achieved by TRS was 17.1%.…
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Nareit's REIT Report Podcast
1 Episode 420: Single Family Rental REITs Playing Growing Role in Boosting Housing Supply 17:58
17:58 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:58
나중에 재생 나중에 재생 리스트 좋아요 좋아요Colin Trovato, portfolio manager at Ranger Global Real Estate Advisors, was a guest on the latest episode of Nareit’s REIT Report podcast. Trovato discussed housing trends and the role of the single family rental (SFR) sector in helping to alleviate the shortage of supply. Trovato discussed the impact of rising interest rates on home ownership and the demand for SFRs. Higher rates since 2022 have increased home buying costs and reduced housing inventory, as many current homeowners are reluctant to move due to their favorable mortgage rates. This scarcity has boosted demand for SFRs, making renting more attractive compared to buying.…
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Nareit's REIT Report Podcast
1 Episode 419: Ashley Fox and Empify Working to Educate Broader Investor Base on Accessibility, Benefits of REITs 16:21
16:21 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:21
나중에 재생 나중에 재생 리스트 좋아요 좋아요Ashley Fox, CEO and founder of Empify and the WealthBuilders Community App, was a guest on the latest episode of Nareit’s REIT Report podcast. She spoke about the efforts Empify has undertaken to educate individuals with limited funds and investment experience, enabling them to build a financial foundation and begin building wealth. Fox left a career on Wall Street in 2013 and set out to “financially empower the 99% that Wall Street often overlooks.” She created Empify with a goal to become the middleman between financial institutions and the everyday person, “because I understood the language of Wall Street, but I also understood the language in the hearts and minds of both adults and children and Empify bridges that gap.” Empify has launched over 10,000 brand new investors, Fox said, adding that members of the WealthBuilders Community App have invested over $650,000 in REITs. She noted that a key takeway from Empify’s five-week REIT Investing Accelerator program is the extent to which REIT-owned properties are a consistent feature of investors’ everyday lives. This episode is supported by LoopNet .…
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Nareit's REIT Report Podcast
1 Episode 418: SPECIAL EPISODE: USGBC’s Journey to Support Decarbonization of the Built Environment 45:02
45:02 나중에 재생 나중에 재생 리스트 좋아요 좋아요45:02
나중에 재생 나중에 재생 리스트 좋아요 좋아요In this episode of the REIT Report special series “Building to Zero,” the U.S. Green Building Council’s Heather Payson and Wes Sullens share their perspectives on the building sector’s sustainability journey and the path forward for decarbonizing commercial real estate. When USGBC was founded over 30 years ago and the first version of LEED was released, it established a clear and understandable framework to measure and define “green buildings.” Today, LEED has become a widely used rating system around the globe and, as a recognized indicator of leadership, has become an indispensable resource for the buildings community at large. “There's just so much going on in this space, and the urgency is greater than ever. We have to balance the urgency of what the market needs with what's possible. While things like policy help establish a floor…. it's become even more challenging to [define] what leadership means in these times,” shares Wes Sullens, LEED Fellow and Director at USGBC. “We use our group of volunteers and experts… that help us write our rating system. It's not something we cook up in a vacuum, the idea is to make sure LEED is that consensus standard for leadership, which I think is a unique place in the market.”…
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Nareit's REIT Report Podcast
1 Episode 417: Moody’s Sees Digital Realty, Equinix Capital Investment Levels Remaining Elevated 11:28
11:28 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:28
나중에 재생 나중에 재생 리스트 좋아요 좋아요Ranjini Venkatesan, vice president and senior credit officer at Moody’s Ratings, was a guest on the latest episode of the Nareit REIT Report podcast. Venkatesan discussed how capital investment levels have been high for both Digital Realty (NYSE: DLR) and Equinix, Inc . (Nasdaq: EQIX), and are expected to remain so. “Over the last three years, annual investment by Digital Realty and Equinix averaged 5.5 % of their gross asset base, which is high,” she said. Both REITs have demonstrated the ability to raise capital at healthy pricing through different credit cycles and with strong leasing execution for the properties being built, she added. This episode is supported by LoopNet .…
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Nareit's REIT Report Podcast
1 Episode 416: Two Decades After IPO, Extra Space Storage CFO Says Growth “in our DNA” 12:50
12:50 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:50
나중에 재생 나중에 재생 리스트 좋아요 좋아요Scott Stubbs, executive vice president and CFO of Extra Space Storage Inc . (NYSE: EXR), joined the latest episode of Nareit’s REIT Report podcast. During the interview, Stubbs reflected on professional and personal accomplishments and challenges surrounding the REIT’s 2004 IPO and discussed further growth opportunities ahead. August marks the 20th anniversary of the Extra Space IPO. Stubbs noted that in 2004, self-storage was not considered a core asset class for a real estate investor. “We were a bit of an outlier at the time and there were still some negative connotations about self-storage. I think that it did take some time to help people understand that self-storage is a great asset class. It's very stable. It is institutional,” Stubbs said. This episode is supported by LoopNet .…
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Nareit's REIT Report Podcast
1 Episode 415: EPRA CEO Sees Opportunities, Challenges for European Real Estate Amid New Political Landscape 16:53
16:53 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:53
나중에 재생 나중에 재생 리스트 좋아요 좋아요Dominique Moerenhout, CEO of EPRA, the European Public Real Estate Association, was a guest on the latest edition of Nareit’s REIT Report podcast. Moerenhout discussed political changes underway in Europe and the U.K. today and their impact on listed real estate. He noted that the EU's new competitiveness focus will create a more business-friendly environment, while the U.K. Labour party’s proactive policies and commitment to a new industrial strategy are “very welcome.” At the same time, political uncertainty in France following recent elections poses “significant risks,” he said. “Investors will need to navigate these varied landscapes carefully, balancing their opportunities with the potential changes ahead. The return to, in my view, a normal real estate transactions market will probably take more time than initially anticipated or hoped for,” Moerenhout said. This episode is supported by LoopNet .…
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Nareit's REIT Report Podcast
1 Episode 414: J.P. Morgan’s Chad Tredway Sees “Great Entry Point” for Real Estate Investment 9:14
9:14 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:14
나중에 재생 나중에 재생 리스트 좋아요 좋아요Chad Tredway, managing director and head of real estate Americas at J.P. Morgan Asset Management, was a guest on the latest episode of the REIT Report podcast. Tredway said the current environment represents “the best buying opportunity” for commercial real estate. Fundamentals are strong and investors are in a position to purchase assets at a 10% to 30% discount compared with pre-2022 levels, “which represents an amazing return.” “Now is a great entry point for those that have capital. And we also see hope on the horizon as we believe rates will come down...we think it's a great time to think about long-term investment in this space and we do believe in real estate as a long-term anchor for portfolios,” Tredway said. This episode is supported by LoopNet .…
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Nareit's REIT Report Podcast
1 Episode 413: Hogan Lovells’ David Bonser Says Access to Capital Supporting Public REITs in Second Half 13:22
13:22 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:22
나중에 재생 나중에 재생 리스트 좋아요 좋아요David Bonser, global managing partner of the corporate practice and global co-head of the REIT practice at Hogan Lovells, was a guest on the latest episode of the Nareit REIT Report. Bonser discussed the current state of the capital markets for REITs and the most popular methods for raising capital. “You are seeing people lock in to raise debt capital because they've held off for a couple of years, and you do need to get your debt balance sheet in order, so we're seeing a lot of activity there,” Bonser said.…
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Nareit's REIT Report Podcast
1 Episode 412: SPECIAL EPISODE: Unlocking Clean Energy Supply Through Utility Grid Expansion and Improvement 40:29
40:29 나중에 재생 나중에 재생 리스트 좋아요 좋아요40:29
나중에 재생 나중에 재생 리스트 좋아요 좋아요In this episode of the REIT Report special series “Building to Zero,” Bryn Baker from the Clean Energy Buyers Association (CEBA) discusses how energy customers are a powerful voice for modernizing the power system that underpins economic growth and development. The Clean Energy Buyers Association (CEBA) represents members with about $15 trillion in market cap. That's about 400 members who collectively are a community of commercial, industrial, and institutional energy buyers. In this episode, Baker discusses how energy customers drive demand and how CEBA is focused on addressing barriers to energy supply challenges that hold back the demand for clean energy.…
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Nareit's REIT Report Podcast
1 Episode 411: LaSalle’s Brian Klinksiek Sees Potential of New Golden Era for REITs 16:31
16:31 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:31
나중에 재생 나중에 재생 리스트 좋아요 좋아요Brian Klinksiek, LaSalle’s global head of research and strategy, was a guest on the latest edition of the Nareit REIT Report podcast. Klinksiek said REITs are in a position to play a consolidator role in the market, given their access to capital, improving valuations, and operational advantages. “We've been framing the outlook for REITs as, are we at the dawn of the next REIT golden era? We think the answer is probably yes,” Klinksiek said.…
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Nareit's REIT Report Podcast
1 Episode 410: Nareit’s Mid-Year Outlook Highlights Strong REIT Operational Performance 10:11
10:11 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:11
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Worth, Nareit executive vice president, research and investor outreach, was a guest on the latest episode of the REIT Report. Worth discussed some of the key features of Nareit’s newly-published 2024 Mid-Year Report. Worth noted that despite REITs underperforming the broader stock market this year, they remain able to navigate the current period of higher interest rates. “REITs’ operational performance has been very solid. We've continued to see high occupancy rates in the major property types and we've seen positive NOI and FFO growth. We're also seeing the continuation of really disciplined balance sheets,” Worth said. 2024 REIT Mid-Year Report: https://www.reit.com/news/blog/market-commentary/2024-midyear-reit-key-themes…
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Nareit's REIT Report Podcast
1 Episode 409: PwC’s Tim Bodner Sees Dynamic Real Estate Market Adapting to New Economic Realities 13:10
13:10 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:10
나중에 재생 나중에 재생 리스트 좋아요 좋아요Tim Bodner, U.S. real estate deals leader at PwC, was a guest on the latest episode of Nareit’s REIT Report podcast. Bodner underscored a dynamic real estate market adapting to new economic realities and the importance of leveraging technological advancements to navigate challenges and seize emerging opportunities in 2024. He noted that transaction volume in traditional real estate sectors continues to be lower than a year ago, reflecting persistent challenges such as valuation disparities between buyers and sellers. Meanwhile, ongoing shifts in the financing landscape are resulting in traditional lenders retreating while private credit, especially from insurance-backed alternative asset managers, gain traction.…
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Nareit's REIT Report Podcast
1 Episode 408: REIT Balance Sheets Give “Luxury of Time” Until Interest Rates Adjust: AEW’s Gina Szymanski 10:48
10:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요Gina Szymanski, managing director and lead portfolio manager, North America REITs, at AEW Capital Management, was a guest on the latest episode of the REIT Report podcast. Szymanski noted that a lot of discussion at Nareit’s REITweek: 2024 Investor Conference focused on the capital markets backdrop and what that means for transaction activity.…
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Nareit's REIT Report Podcast
1 Episode 407: Vibrant Mixed-Use Districts Key to Urban Revitalization: CBRE 18:47
18:47 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:47
나중에 재생 나중에 재생 리스트 좋아요 좋아요Julie Whelan, global head of occupier thought leadership at CBRE, was a guest on the latest episode of the REIT Report podcast. Whelan discussed the findings of a new CBRE report, Shaping Tomorrow’s Cities, which looks at ways to reinvent U.S. cities after the upheaval of the pandemic and the growth of remote work. She noted that urban revitalization trends that were evident in the period leading up to the pandemic were “stopped in their tracks” by COVID-19 and the “sheer concern of density being a health problem.” The CBRE report found that a diverse built environment in vibrant mixed-use districts was more attractive to office tenants, more attractive to residents, and more attractive to retailers setting up shops to support the population in that area. Vibrant mixed-use districts are essential for urban rejuvenation, Whelan said, “because just working in cities is not the pure draw anymore.”…
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Nareit's REIT Report Podcast
1 Episode 406: Host Hotels “Really Well Positioned” to Continue Acquiring in 2024 18:36
18:36 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:36
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jim Risoleo, president and CEO of Host Hotels & Resorts, Inc . (Nasdaq: HST), was a guest on the latest episode of the REIT Report podcast. During the interview, Risoleo discussed the REIT’s latest results, trends in leisure and group travel, recent acquisitions in Nashville, conditions in Maui, renovation projects, sustainability targets, and more. Commenting on the outlook for the lodging sector in general, Risoleo said it is set up for solid performance for at least the next several years, with supply growth at historically low levels.…
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Nareit's REIT Report Podcast
1 Episode 405: DLA Piper 2024 Global Real Estate Survey Points to Mood of Cautious Optimism 14:57
14:57 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:57
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Sullivan, chair of U.S. real estate and co-chair of the global real estate practice at DLA Piper, was a guest on the latest episode of the Nareit REIT Report. Sullivan shared some of the findings from the DLA Piper Global Real Estate State of the Market Survey 2024. He described sentiment among CRE executives today as one of “cautious optimism.” “I think the message we're getting is that people think the skies are starting to clear a little bit. Nobody is saying that we're there yet, but people are looking at interest rates having stabilized and there's an expectation of some rate cuts,” Sullivan said.…
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Nareit's REIT Report Podcast
1 Episode 404: Deloitte’s Jonathan Keith Sees Delayed Uptick in M&A Transaction Activity 9:32
9:32 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:32
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jonathan Keith, managing director with the risk and financial advisory practice at Deloitte and Touche LLP, where he is also the real estate sector leader in the M&A group, was a guest on the latest episode of the Nareit REIT Report podcast. Keith discusses Deloitte's 2024 commercial real estate M&A outlook, noting that higher interest rates due to ongoing inflation concerns may extend the period of lower M&A transaction volume that has been in place since the second quarter of 2022. Keith also highlights sector-specific trends and identifies industrial and data centers as strong sectors, while highlighting opportunities in multifamily investments.…
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Nareit's REIT Report Podcast
1 Episode 403: SPECIAL EPISODE: DOE Better Buildings Initiative’s Support for Building Sector Decarbonization 26:35
26:35 나중에 재생 나중에 재생 리스트 좋아요 좋아요26:35
나중에 재생 나중에 재생 리스트 좋아요 좋아요This episode of the REIT Report’s ongoing series “Building to Zero” features Maria Vargas, senior program advisor and director of the Better Buildings Initiative for the U.S. Department of Energy, and focuses on how success, solutions, and challenges are being addressed at the industry level. Vargas shared her perspective on the importance of industry collaboration over her career, which includes 25 years at the Environmental Protection Agency and the past 13 years at DOE. She shares how the Better Buildings Initiative was designed to serve as a platform to drive and accelerate the adoption of energy efficiency and other decarbonization. “What we recognize is that we spend about $200 billion a year to run our commercial buildings in this country. We spend, on average, about another $200 billion on our industrial facilities. And we know that, on average, 20% to 30% of that energy is wasted.”…
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Nareit's REIT Report Podcast
1 Episode 402: Ranger Global’s Todd Voigt Sees Buying Opportunities for REITs Amid Market Volatility 18:23
18:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Todd Voigt, senior portfolio manager at Ranger Global Real Estate Advisors, was a guest on the latest episode of Nareit’s REIT Report podcast. Voigt discussed key issues impacting real estate investing today and how REITs might find opportunities amid market volatility. “The great opportunity that U.S. REITs have, and particularly those early winners that we're seeing raise capital now, is that they have the balance sheets and access to equity to be the buyers. And oftentimes there'll be less buyers at that table and that's where you oftentimes get the best returns,” Voigt said.…
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Nareit's REIT Report Podcast
1 Episode 401: Global Real Estate Professors Say Executive Training Program Fills Gap for Mid-Career Professionals 16:56
16:56 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:56
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nils Kok, professor of real estate at the University of Maastricht, and Siqi Zheng, professor of real estate at the Massachusetts Institute of Technology, were guests on the latest episode of Nareit’s REIT Report podcast. Kok and Zheng are two of the academic directors of the Global Real Estate Leaders Program, an executive training program aimed at emerging real estate professionals with at least 10 years’ experience, sponsored by the MIT Center for Real Estate and Maastricht University Centre. Nareit is a participating organization in the new executive education program. Kok noted that the program is aimed at executives who are eager to learn about the latest real estate finance or mega trends, but don’t have the time to go back to school for a year.…
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Nareit's REIT Report Podcast
1 Episode 400: JBG SMITH’s Matt Kelly on Placemaking and Striking the Right Balance Across Communities 19:59
19:59 나중에 재생 나중에 재생 리스트 좋아요 좋아요19:59
나중에 재생 나중에 재생 리스트 좋아요 좋아요Matt Kelly, CEO of JBG SMITH (NYSE: JBGS) and Nareit’s 2024 chair, was a guest on the 400 th episode of Nareit’s REIT Report podcast. In a wide-ranging interview, Kelly speaks about placemaking—a hallmark of the REIT’s approach to development—and the importance of “striking the right balance” between public space, retail, and work and living spaces, alongside basic neighborhood necessities. He also talks about the importance of affordable housing, JBG SMITH’s shift to become a majority multifamily REIT, the Potomac Yard arena project, the REIT’s ongoing commitment to National Landing and the Northern Virginia submarket, and more.…
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Nareit's REIT Report Podcast
1 Episode 399: American Century Investments’ Steven Brown Sees Improved REIT Earnings in 2024 & 2025 13:11
13:11 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:11
나중에 재생 나중에 재생 리스트 좋아요 좋아요Steven Brown, senior vice president and senior portfolio manager for American Century Investments, was a guest on the latest episode of the REIT Report podcast. Brown described the landscape for REIT investment today, noting that most REITs issued earnings growth guidance for 2024 of around 4%. “The REIT earnings outlook still looks very solid,” Brown said. “Demand is better than supply in most property sectors…higher interest rates as well as the higher cost of construction have started to slow supply in many of the markets we invest in. We think the picture is improving for…REIT earnings growth in 2024 and 2025.” Register for Nareit's REITweek: 2024 Investor Conference: https:// go.reit.com/reitweekRR…
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Nareit's REIT Report Podcast
1 Episode 398: SPECIAL EPISODE: BXP’s Ben Myers on Electrifying the Built Environment 31:10
31:10 나중에 재생 나중에 재생 리스트 좋아요 좋아요31:10
나중에 재생 나중에 재생 리스트 좋아요 좋아요This episode of the REIT Report’s ongoing series “Building to Zero” features Ben Myers, senior vice president of sustainability at BXP (NYSE: BXP) and continues to dig deeper into the real estate industry’s journey to reduce emissions from the built environment. Myers shares his view on why it is so important to take a long term view on electrification, which refers to the replacement of fossil fuel equipment, like internal combustion engines and gas boilers, with electric motors or heat pumps. The common case for electrification is that building owners can decarbonize and utilize equipment that is significantly more efficient. “Electrification of everything is what I'm here to talk about today. And in particular, how to spread this religion around electrification. I am a believer that we need to electrify the built environment and I'll explain why, but I do think that we need to take some important steps to get there,” Myers says.…
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Nareit's REIT Report Podcast
1 Episode 397: Chilton Capital Management on Why REITs Stand to Benefit from Capex Spending 14:46
14:46 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:46
나중에 재생 나중에 재생 리스트 좋아요 좋아요Matt Werner, senior portfolio manager for REITs at Chilton Capital Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Werner emphasized the resilience of public REITs amid economic challenges, especially in managing debt maturities and maintaining dividend payments during periods of uncertainty. According to Werner, public REITs are now positioned to capitalize on market volatility, with robust balance sheets enabling them to acquire distressed properties. "We're still kind of waiting for the sort of big moment for public REITs to go out and make significant acquisitions or for private companies to bite the bullet and decide that going public is the only kind of way to save their company."…
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Nareit's REIT Report Podcast
1 Episode 396: DigitalBridge on Digital Infrastructure as Real Estate for the Modern Economy 17:05
17:05 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:05
나중에 재생 나중에 재생 리스트 좋아요 좋아요Bill Hughes, managing director of liquid strategies at DigitalBridge Investment Management, was a guest on the latest edition of the Nareit REIT Report podcast. Hughes discussed some of the trends and developments in digital infrastructure and real estate securities markets today. He noted that the types of real estate businesses that get characterized as digital infrastructure currently compose around 40% of the publicly traded real estate market by value. “That's something that was not true a decade, a decade and a half ago.” When analyzing digital infrastructure, the same issues that impact traditional real estate—such as supply and demand dynamics, unit level economics, the capital intensity of the asset over time, lease structures, and credit counterparties—should all be considered, Hughes said.…
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Nareit's REIT Report Podcast
1 Episode 395: CBRE IM’s Elisabeth Troni on Deciding to Add Listed REITs to a Global Investment Strategy 13:22
13:22 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:22
나중에 재생 나중에 재생 리스트 좋아요 좋아요Elisabeth Troni, fund manager with CBRE IM’s flagship global investment strategy, was a guest on the latest episode of Nareit’s REIT Report. CBRE IM’s flagship global strategy began to allocate to listed REITs in December 2022. Troni explains the timing behind that decision and the scope it gave the strategy to access niche and specialized property sectors. Since December 2022, the strategy has entirely invested in an actively managed but broadly diversified strategy, Troni said. She added that the addition of a completion strategy, which would unlock opportunities in those specialty sectors, is currently under review. Troni noted that while the market is unsure about when rate cuts may occur, “what we do feel confident about is the fact that higher rates are priced into public markets in terms of the pricing levels, and they have a strong chance to outperform when the market can see the end of rising rates.”…
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Nareit's REIT Report Podcast
1 Episode 394: Raymond James’ Steve Loffman on REIT Capital Market Trends 11:26
11:26 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:26
나중에 재생 나중에 재생 리스트 좋아요 좋아요Steve Loffman, managing director at Raymond James, was a guest on the latest episode of Nareit’s REIT Report podcast. Loffman is also a program director and speaker at Nareit’s REITwise : 2024 Law, Accounting & Finance Conference in Hollywood Florida, March 19-21. Loffman described the contours of the REIT capital market landscape today, noting that broadly speaking, “it's been a little bit challenging,” with REITs trading at a discount to net asset value (NAV). “But as time moves on, and if we believe in the yield curve, which I certainly do, I think we'll be making strides to get closer to NAV from an equity perspective,” he added.…
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Nareit's REIT Report Podcast
1 Episode 393: SPECIAL EPISODE: Empire State Realty Trust Makes the Business Case for Decarbonization Strategy 20:25
20:25 나중에 재생 나중에 재생 리스트 좋아요 좋아요20:25
나중에 재생 나중에 재생 리스트 좋아요 좋아요This episode of the Nareit REIT Report’s ongoing series, “Building to Zero,” features Dana Schneider, director of energy and sustainability and ESG at Empire State Realty Trust, Inc. (NYSE: ESRT) and continues the discussion related to the real estate industry’s journey to reduce emissions from the built environment. In this episode, Schneider shares how ESRT began the journey on decarbonization more than 15 years ago by focusing on making the business case for deep energy retrofits. “By creating a process and publishing our energy and financial modeling, we showed what every step of the process would look like and demonstrated that we could have a guaranteed savings of 38% with a payback of three years. Frankly, it's better than we thought it would be,” Schneider says. “But more important than just the results was the idea that we could share the process and show what did and didn't work, how to do the right steps in the right order, how to work from the outside of the building in.”…
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Nareit's REIT Report Podcast
1 Episode 392: More Private Real Estate Likely to Shift to Public Over Time: Nareit’s Tony Edwards 16:09
16:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요Tony Edwards, Nareit’s senior executive vice president, was a guest on the Nareit REIT Report® podcast. Edwards will be retiring from Nareit at the end of March, and in this episode he reflects on some of the highpoints of his career and the major changes in the industry during the past three decades. Edwards said he expects to see more private real estate shift to the public market over time, pointing to the benefits REITs offer in terms of market discipline, low leverage, and their ability to weather market disruptions such as the great financial crisis and the pandemic.…
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Nareit's REIT Report Podcast
1 Episode 391: Citi Global Real Estate Outlook Sees Stock Picking as Key Theme in 2024 14:26
14:26 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:26
나중에 재생 나중에 재생 리스트 좋아요 좋아요Three members of Citi’s global real estate research team—Nick Joseph in the U.S., Aaron Guy in the U.K., and Howard Penny in Australia—were guests on the latest episode of the Nareit REIT Report podcast. Amid the market cross currents of slower global economic growth, offset to some extent by anticipated lower interest rates, “we are generally constructive on commercial real estate in 2024,” Joseph said. At the same time, Citi’s 2024 global real estate outlook also stresses the importance of stock picking, rather than broader sector and subsector allocations. For the U.S., Citi is projecting total returns for REITs of 10% to 15% in 2024, with adjusted FFO growth of about 3%. “Growth is being driven by slowing but still solid operating results, development and the redevelopment benefit that is coming on, and the retention of free cash flow,” Joseph said.…
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Nareit's REIT Report Podcast
1 Episode 390: Life Sciences Real Estate Market Looking More Positive After Challenging 2023: JLL 16:32
16:32 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:32
나중에 재생 나중에 재생 리스트 좋아요 좋아요Travis McCready, head of life sciences, Americas markets, at JLL, was a guest on the latest episode of Nareit’s REIT Report podcast. McCready said 2023 was one of the most challenging years in memory for life sciences real estate due to a slowdown in the deployment of venture capital, higher interest rates and inflation, and “rather aggressive” real estate development of lab space in the past two years. Based on activity so far in 2024, though, “the year is already shaping up to be much more positive than the year before, so fingers crossed that we are looking at a return to an upwards trajectory in the months and year to come,” McCready said.…
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Nareit's REIT Report Podcast
1 Episode 389: REIT Valuations Look Attractive Amid Favorable Macro Backdrop: Morgan Stanley 13:46
13:46 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:46
나중에 재생 나중에 재생 리스트 좋아요 좋아요Laurel Durkay, head of global listed real assets at Morgan Stanley, was a guest on the latest edition of the Nareit REIT Report podcast. Durkay said REITs today are “cheap” versus broader equities. “They do screen attractively versus private real estate. They look compelling versus where REITs have historically traded, and they look pretty fairly valued versus fixed income. The macro backdrop is favorable with interest rate stabilization and the increasing likelihood of cuts this year… I think valuations look attractive.” Despite this backdrop, negative rhetoric about the real estate sector “and the potential for the other shoe to drop” persists, Durkay said. “Investors in Europe and Asia really do want to learn more about real estate, but it's hard to move past that conversation of the fate of offices in big U.S. cities like New York and San Francisco,” she noted.…
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Nareit's REIT Report Podcast
1 Episode 388: Cohen & Steers Launches Tool to Aid Investor Real Estate Allocation Decisions 12:37
12:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jeff Palma, senior vice president and head of multi-asset solutions at Cohen & Steers, was a guest on the latest episode of Nareit’s REIT report podcast. Palma discussed the launch of Real Assets Compass, an interactive tool designed to help institutional investors and financial advisors make informed decisions about strategic allocations to listed and private real estate. “We feel that there's an education gap among clients, institutional and individual investors alike, about some of the benefits of real estate,” Palma said. “Despite the evidence that we have that historically real estate has positively contributed to both returns and diversification benefits in broad multi-asset portfolios, it's sort of been an under-owned asset class,” he noted.…
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Nareit's REIT Report Podcast
1 Episode 387: REITs Well-Positioned to Navigate and Potentially Thrive in 2024’s Higher Interest Rate Environment 7:09
7:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Worth, executive vide president, research and investor outreach at Nareit, was a guest on the latest episode of the REIT Report podcast. Worth outlined some of the key messages in Nareit’s 2024 REIT Outlook, including three reasons that may make 2024 a good year for REITs. He noted that historically, at the end of a Federal Reserve tightening cycle, REITs have outperformed private real estate and equities over the following two and four quarters. “We think we saw a little preview of that at the end of the fourth quarter,” Worth said. Meanwhile, the divergence between public and private real estate valuations continues to be quite wide. Worth said that gap is expected to close in 2024, both through REITs performing well and continued markdowns for private real estate.…
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Nareit's REIT Report Podcast
1 Episode 386: RCLCO Fund Advisors Says U.S. Institutional Investors Under-Allocating to REITs 13:50
13:50 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:50
나중에 재생 나중에 재생 리스트 좋아요 좋아요William Maher, director of strategy and research at RCLCO Fund Advisors (RFA), was a guest on Nareit’s REIT Report podcast. RFA’s clients include some of the larger public pension funds, and increasingly non-U.S. investors. Maher said that most U.S. institutional investors today allocate less than 10% of their real estate allocation to REITs. “I think that indicates a big underweight that they're probably not aware of,” Maher said. He added that RFA’s investor clients continue to want greater exposure to a broader range of property types and will continue to look to REITs to provide that access. Mid-size and larger institutions should have a “permanent long-term position in REITs for diversification, market knowledge, [and] exposure to property types that are difficult to access in the private markets,” he said.…
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Nareit's REIT Report Podcast
1 Episode 385: Extra Space Storage Focusing on Fundamentals in 2024 After Hectic 2023 11:55
11:55 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:55
나중에 재생 나중에 재생 리스트 좋아요 좋아요Gwyn McNeal, executive vice president and chief legal officer at Extra Space Storage Inc. (NYSE: EXR), was a guest on the Nareit REIT Report podcast. McNeal discussed her role at Extra Space, the merger with Life Storage and issues she has dealt with on the legal and personnel side, legal issues facing all REITs today, as well as advice for those seeking a legal career in the commercial real estate sector. Turning to the priorities for 2024 that she is most excited about, McNeal referred to a mandate from Extra Space’s CEO to focus on the fundamentals, after an “incredibly crazy” 2023. That involves making sure new staff are fully onboarded and trained, operating platforms are able to fully support the newly merged company, and that properties acquired through the merger are up to the same specifications as the Extra Space properties.…
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Nareit's REIT Report Podcast
1 Episode 384: Real Estate Investors Adjusting to New Ways to Add Value, Profitability in Changed Environment: PwC 13:31
13:31 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:31
나중에 재생 나중에 재생 리스트 좋아요 좋아요Andrew Alperstein, PwC U.S. real estate partner, and Daniel Sullivan, PwC U.S. financial markets and real estate leader, discussed key takeaways of PwC and ULI’s Emerging Trends in Real Estate 2024 report, which incorporates data and insights from more than 2,000 industry experts. One of the main themes of this year's report is what it terms the “Great Reset,” in which old assumptions are no longer valid. Alperstein said commercial real estate investors are going to have to be “more diligent, more operationally focused, as they strive to add value and profitability relative to recent years when low rates, decreasing cap rates, and a high amount of leverage was a big part of the way value was created and profitability was obtained.” As for transaction volume, the current environment of higher rates, more rigorous underwriting from the lender side, and a pullback from the banks is going to make it challenging, particularly to get bigger deals done, Alperstein said.…
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Nareit's REIT Report Podcast
1 Episode 383: Creating a Neuroinclusive Work Environment is “Good Business for Everybody” 14:37
14:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요Tracy Powell-Rudy, vice president of corporate engagement at Integrate, a nonprofit that helps organizations identify, recruit, and retain autistic and neurodivergent talent, was a guest on the latest episode of Nareit’s REIT Report podcast. Powell-Rudy discussed the level of awareness around neurodiversity in the wider population today, the level of participation for neurodiverse individuals in the workplace, and some of the key factors impacting their hiring. She also discussed practical steps that companies can take to become more aware of neurodiversity, to make their hiring processes more amenable to neurodiverse candidates, and how to signal to the outside world that neurodiversity is something that’s on a company’s radar. In addition, Powell-Rudy covered best practices for companies that are starting up hiring programs or looking to work with a partner.…
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Nareit's REIT Report Podcast
1 Episode 382: Institutional Real Estate Investors Largely Sidelined for Now; See REITs as Complementing Strategy 11:09
11:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요Doug Weill, founder and co-managing partner of Hodes Weill & Associates, a leading global capital advisory firm, was a guest on the latest episode of Nareit’s REIT Report podcast. Hodes Weill recently released the 2023 Real Estate Allocations Monitor, which showed that institutions’ target allocations to real estate were flat at about 10.8% year-over-year. “Institutions are very cautious in the market today. And while they're reasonably optimistic about the opportunity to invest over the next couple of years, right now in the moment there are numerous cross currents,” Weill said. At the same time, several large institutions have increased their target allocations over the past 12 months, Weill noted. “I think that has been a signal to the market that they are encouraged about the opportunity to invest and perhaps lean into the opportunity.” Such institutions include Norges Bank and CalSTRS.…
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Nareit's REIT Report Podcast
1 Episode 381: American Tower CEO Says Global Presence Fosters Connectivity in Responsible, Equitable, Sustainable Way 11:12
11:12 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:12
나중에 재생 나중에 재생 리스트 좋아요 좋아요Tom Bartlett, president and CEO of American Tower Corp . (NYSE: AMT), was a guest on the latest episode of Nareit’s REIT Report podcast. Bartlett discussed American Tower’s recently launched Sustainability Report and provided an overview of the REIT’s broader sustainability strategy. He explained that “neutral hosting” is central to the company’s inherently sustainable business model. “Neutral hosting allows multiple customers to lease space on a shared single tower or asset, which reduces the number of sites required and minimizes the industry's overall environmental impact”, he said. Beyond providing digital infrastructure, Bartlett noted that American Tower’s global presence enables it to play “a significant role in fostering connectivity in a responsible, equitable, and sustainable way to realize our vision of building a more connected world.”…
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Nareit's REIT Report Podcast
1 Episode 380: Modiv Industrial Sees Upside Potential in Mission-Critical Manufacturing Facilities 15:51
15:51 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:51
나중에 재생 나중에 재생 리스트 좋아요 좋아요Aaron Halfacre, president and CEO of Modiv Industrial, Inc . (NYSE: MDV), was a guest on the latest episode of Nareit’s REIT Report podcast. Halfacre discussed Modiv’s evolution toward focusing on industrial manufacturing facilities, after starting out as a diversified net lease REIT. “We discovered that industrial manufacturing facilities were, like us, flying a bit below the radar and also, like us, providing investors with very attractive upside potential. The manufacturing sector has strong fundamentals, solid cap rates, healthy contractual rent bumps, long-term dependable leases, and somewhat of an inefficient transaction marketplace. All of that made it clear to us that we were onto something,” Halfacre said.…
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Nareit's REIT Report Podcast
1 Episode 379: REIT Fundamentals Remain Strong Ahead of Third Quarter Earnings 10:41
10:41 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:41
나중에 재생 나중에 재생 리스트 좋아요 좋아요David Auerbach, REIT industry expert and the chief investment officer of Hoya Capital & Hoya ETFs, was a guest on the latest episode of Nareit’s REIT Report podcast. Auerbach said fundamentals for REITs have remained “very strong,” despite the Federal Reserve’s tighter monetary policy. “If you look at the last quarter, public REITs reported same store property level income about 10% above where they were pre-pandemic. Many of these REITs have been preparing for winter for a long period of time, cleaning up their balance sheets, focusing less on variable rate debt.” He added that investors want management teams to do four things—grow revenues, grow profits, grow guidance, and grow dividends. “Pretty much by and large, that's been what's happening across the spectrum in the REIT industry.”…
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Nareit's REIT Report Podcast
1 Episode 378: REIT Scale and Cost of Capital Advantages Enhanced by PropTech 13:57
13:57 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:57
나중에 재생 나중에 재생 리스트 좋아요 좋아요Brad Thomas, real estate expert, analyst, and CEO of Wide Moat Research, was a guest of Nareit’s REIT Report podcast. In this latest episode, Thomas discusses many of the themes and topics that appear in his newly released book, REITs for Dummies , including the increasingly important role played by PropTech within the sector. “We've seen PropTech throughout most every property category, in multifamily, self-storage, you name it. Every sector has some PropTech component, which is really an interesting part of this innovation…it's really helped these companies grow and produce more earnings,” Thomas says.…
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Nareit's REIT Report Podcast
1 Episode 377: New Research Shows REITs Historically Outperform Private Real Estate on Sustainability Performance 18:36
18:36 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:36
나중에 재생 나중에 재생 리스트 좋아요 좋아요Avis Devine, associate professor of real estate finance and sustainability at the Schulich School of Business at Toronto’s York University, was a guest on the latest episode of Nareit’s REIT Report. Devine discussed new research, sponsored by Nareit, into the sustainability performance of listed REITs and private real estate as well as their approaches toward sustainability commitments and disclosure, and the relationship between sustainability disclosure and performance among REITs. “Public and private real estate firms make different decisions regarding their sustainability commitments and their disclosure,” Devine said. Using the Global Real Estate Sustainability Benchmark (GRESB) reporting structure, the research shows that historically REITs have outperformed private funds on sustainability performance. However, that gap has been narrowing in recent years…
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Nareit's REIT Report Podcast
1 Episode 376: Listed REITs Offer a Compelling Opportunity Versus Equities, Private Real Estate: Principal 14:58
14:58 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:58
나중에 재생 나중에 재생 리스트 좋아요 좋아요Todd Kellenberger, REIT client portfolio manager at Principal Asset Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Kellenberger noted that listed REITs currently trade at significant valuation discounts to both equities and private real estate. He pointed out that the earnings price multiple of REITs versus equities today is over two standard deviations away from the long-term mean—"a level that's even cheaper than what we saw during the GFC, particularly for U.S. listed REITs.” Meanwhile, the change in valuations for private real estate have been slower than for listed REITs, given the appraisal-based methodologies and limited price discovery in today's transaction markets, he added.…
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Nareit's REIT Report Podcast
1 Episode 375: Safehold CIO Says Modern Ground Lease Concept “Here to Stay” 16:52
16:52 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:52
나중에 재생 나중에 재생 리스트 좋아요 좋아요Marcos Alvarado, president and CIO at Safehold Inc . (NYSE: SAFE), was a guest on the latest episode of Nareit’s REIT Report. Alvarado said Safehold has made a “tremendous” amount of progress in the last six years in terms of portfolio expansion and growth in enterprise value, “but in the greater scheme of what we're looking to accomplish, I think we're still very, very early on…that's what excites us about the future.”…
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Nareit's REIT Report Podcast
1 Episode 374: Life Sciences Industry No Longer Confined to Coastal Markets: JLL 16:16
16:16 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:16
나중에 재생 나중에 재생 리스트 좋아요 좋아요Travis McCready, head of life sciences, Americas markets, JLL, was a guest on the latest episode of the REIT Report. Speaking in conjunction with the release of JLL’s 2023 Life Sciences Industry and Real Estate Perspective , McCready noted that while Boston and San Francisco remain leading life science markets on a national and international level, other markets in the United States are showing signs of growth and vitality.…
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Nareit's REIT Report Podcast
1 Episode 373: Real Estate Roundtable says CRE Playing Key Role in Success of Federal Climate Programs 29:42
29:42 나중에 재생 나중에 재생 리스트 좋아요 좋아요29:42
나중에 재생 나중에 재생 리스트 좋아요 좋아요As part of Building to Zero, an ongoing series of interviews on the decarbonization of the commercial real estate sector, Duane Desiderio, senior vice president and counsel for the Real Estate Roundtable, joined a special episode of Nareit’s REIT Report podcast. Desiderio spoke with Nareit’s Senior Vice President of Environmental Stewardship and Sustainability Jessica Long to discuss recent and upcoming activity related to federal policy that supports real estate owners’ efforts to measure and reduce carbon emissions, disclose climate-related financial risk and opportunity, and comply with local building standards.…
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Nareit's REIT Report Podcast
1 Episode 372: CBRE Says Global Real Estate Investors Remain Cautious as Cross-Border Capital Flows Drop in First Half 10:28
10:28 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:28
나중에 재생 나중에 재생 리스트 좋아요 좋아요Richard Barkham, global chief economist, head of global research and head of Americas research at CBRE, was a guest on the latest episode of the REIT Report podcast. Barkham discussed the state of global cross-border real estate capital flows, which totaled $30.5 billion in the first half of this year. That marked a 52% decline from the same period a year earlier and down 44% compared to an average of the first half periods between 2018 to 2022. Despite being a “pretty weak year really,” the mood of the global real estate investor is “far from despondent,” Barkham said. The mood is “wary and cautious until we get a much clearer signal on the glide path for interest rates, both in the United States and in the global economy.” Notable trends during the first half included an inflow of funds into the U.S. from Singapore and Japan, reflecting the buyout of STORE Capital Corp. by sovereign wealth fund GIC and a $1 billion Japanese investment into New York City office.…
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Nareit's REIT Report Podcast
1 Episode 371: Actively Managed Funds’ Allocations Shed Light on REIT Market Performance 11:55
11:55 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:55
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nicole Funari, Nareit vice president for research, was a guest on the latest episode of the Nareit REIT Report. Funari discussed Nareit’s new project that initially involves tracking quarterly investment holdings for the 28 largest actively managed real estate investment funds that focus on REITs from 2010 to the first quarter of 2023. While performance returns offer a broad market perspective on what investors think about REITs, by narrowing the focus to active managers, or “people whose income and livelihoods depends on how well they can read the market for commercial real estate, we really get to capitalize on their unique insights and their expertise in this area,” Funari said.…
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Nareit's REIT Report Podcast
1 Episode 370: REITs Well Prepared to Navigate Ongoing Economic, Capital Market Uncertainty at Mid-Year 10:49
10:49 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:49
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nareit Senior Vice President for Research Ed Pierzak joined the latest episode of the REIT Report podcast to talk about some of the key findings from Nareit’s 2023 mid-year report. Pierzak noted that two main factors are at play today—the divergence in public and private real estate valuations, and challenges in the capital markets, particularly around refinancing. The public-private valuation gap really reached its peak in the latter half of 2022, Pierzak said. Progress has been made since then, albeit slowly, he noted. However, whenever such valuation dislocations occur, “they can present opportunities for REIT investors…historically, when we’ve seen these major public and private valuation divergences, we see that REIT total returns have tended to bounce and even surge.”…
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Nareit's REIT Report Podcast
1 Episode 369: Management Consultant Says REITs Should Hone Their Story to Engage Investors 24:04
24:04 나중에 재생 나중에 재생 리스트 좋아요 좋아요24:04
나중에 재생 나중에 재생 리스트 좋아요 좋아요Gene Rubin, president of management consultancy firm Rivel, joined the latest episode of Nareit’s REIT Report podcast to talk about strategic investor communications and investor engagement in the REIT space. Rivel recently carried out a generalist investor perception study on the REIT industry and Rubin discussed some of the findings that emerged. He noted that the outlook for REITs as an investment class in North America has “improved significantly” since a similar survey was undertaken in 2018. In the previous survey, over half of respondents said they were underweight in REITs, compared to about 40% this time.…
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Nareit's REIT Report Podcast
1 Episode 368: Tower REITs Gaining Important Underlying Cash Flow Driver from 5G Deployment: Invesco 17:23
17:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Darin Turner, managing director and chief investment officer for Invesco’s listed real assets team, was a guest on the latest edition of the Nareit REIT Report podcast. Turner discussed the scope and growth of the tower REIT industry, its performance history, how the leasing structure works, the impact of 5G, global opportunities and challenges, benefits for the sector from AI and edge computing, and more. Key Takeaways from the interview include: There are approximately 420,000 macro tower and small cell sites across the United States, with REITs owing about 90% of the approximately 150,000 macro tower sites. There hasn’t been any significant new development of macro tower sites in the last decade. New supply is “incredibly limited.” Most of the recent growth for tower REITs has been in international markets, in both emerging and developed markets.…
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Nareit's REIT Report Podcast
1 Episode 367: Stability of Underlying Property Sector Trends is Key to Real Estate Deal Activity: PwC 8:24
8:24 나중에 재생 나중에 재생 리스트 좋아요 좋아요8:24
나중에 재생 나중에 재생 리스트 좋아요 좋아요Tim Bodner, global and U.S. real estate deals leader at PwC, was a guest on the latest episode of the REIT Report podcast. Bodner commented on the current state of real estate transaction activity, how different property segments are faring, opportunities amid today’s challenging environment, strategies being used to get deals done, and more. During the interview, Bodner noted that: It’s a “much more challenging” deal environment today than it was previously. Pockets of strength are emerging across the real estate landscape, including logistics, self-storage, areas of the hospitality sector, experiential real estate, and even office. The most important factor in terms of getting deals done today is the stability of the underlying trends that are driving activity in a particular sector.…
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Nareit's REIT Report Podcast
1 Episode 366: Top-Tier Office Properties Experiencing Continued Rent Growth: CBRE 16:52
16:52 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:52
나중에 재생 나중에 재생 리스트 좋아요 좋아요Julie Whelan, global head of occupier research at CBRE, was a guest on the latest episode of the Nareit REIT Report podcast. During the interview, Whelan discussed broad office occupancy trends, changes in how office space is utilized, the flight to quality, the role of flexible office space, the importance of an office’s location, and more. Among Whelan’s key takeaways were: Net effective rents, that account for landlord concessions, are continuing to grow at the top tier of the office market. In some cases, the rent differential between top quality and lower quality office space has never been greater. A great office building alone isn’t enough. “Buildings have to be in great submarkets right now,” and that means mixed-use environments. “The office has a really exciting role to play in the future of how cities are reinvented.” Office space is going to be in a transformative phase as it plays a key role in the evolution of mixed-use locations.…
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Nareit's REIT Report Podcast
1 Episode 365: SPECIAL EPISODE: Norges Bank Says Real Estate Facing “Tremendous Pressure” to Decarbonize 19:58
19:58 나중에 재생 나중에 재생 리스트 좋아요 좋아요19:58
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nina Galbiati, Norges Bank’s global lead sustainability for real estate, was a guest on a special episode of Nareit’s REIT Report podcast. Norges Bank is a long-term investor that has roughly 4.1% of their global investment portfolio invested in real estate, with about half of that allocated to public REITs. With the firm’s focus on maximizing risk-adjusted returns, Norges has been an influential leader in promoting the adoption of sustainability for real estate companies globally for many years. On this episode of the REIT Report, Galbiati joined Nareit’s Senior Vice President of Environmental Stewardship and Sustainability Jessica Long to discuss how the real estate industry is addressing a key challenge of decarbonization planning and the importance of real estate companies in the U.S. clearly disclosing their strategy, decision making, and targets around key environmental matters. “Real estate is facing tremendous pressure to decarbonize. This is partly regulatory pressure, but it’s definitely coming from a shift in demand from tenants as well as investors. We don’t think the current market valuation is pricing those risks adequately today,” Galbiati said.…
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Nareit's REIT Report Podcast
1 Episode 364: COAERS Seeing Increased Diversification, Liquidity, Returns from REIT Completion Strategy 14:42
14:42 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:42
나중에 재생 나중에 재생 리스트 좋아요 좋아요David Stafford, deputy chief investment officer at The City of Austin Employees' Retirement System (COAERS), was a guest on the latest episode of Nareit’s REIT Report Podcast. During the interview, Stafford discussed COAERS’ decision to use REITs as part of a portfolio completion strategy starting in early 2020—an approach that has been successful for the fund and one that it continues to assess on an ongoing basis. He also spoke about the importance of having a mindset attuned to trying a new investment approach, the benefits that REITs provide to COAERS, market issues that COAERS is watching, advice for funds considering a change in strategy, and more. COAERS is a defined benefit plan that administers retirement benefits for regular employees of the city of Austin and currently serves about 19,000 current, inactive, and retired members. The system’s investments total approximately $3 billion and are broadly diversified across asset classes including equities, real assets, fixed income, multi-asset strategies, commodities, and cash.…
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Nareit's REIT Report Podcast
1 Episode 363: Time is Right to Increase Exposure to REITs and Listed Real Estate: DWS 15:19
15:19 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:19
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Vojticek, global head of liquid real assets at DWS, a global asset manager with nearly $1 trillion of assets under management, was a guest on the latest episode of the REIT Report podcast. Vojticek commented on the operating environment for listed REITs, DWS’s recommendations for using REITs in conjunction with private real estate to complete portfolios, the access REITs provide to emerging asset classes, the benefits of global investment in REITs, and more.…
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Nareit's REIT Report Podcast
1 Episode 362: REITs Likely to Outperform Equities and Private Real Estate Once Fed Rate Hike Cycle Ends 9:07
9:07 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:07
나중에 재생 나중에 재생 리스트 좋아요 좋아요Uma Moriarity, senior investment strategist at CenterSquare Investment Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Moriarity spoke about how REITs are faring in the current interest rate climate, how their valuations compare to private real estate, REITs and their position in the capital markets, property sectors that CenterSquare is bullish on, and more. A pause in interest rate hikes is generally expected to occur at the next Federal Reserve meeting, Moriarity said. While some are expecting a subsequent rate hike in July, “it’s fair to say that we're closer to the end (of the rate hike cycle) than we are to the beginning,” she added.…
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Nareit's REIT Report Podcast
1 Episode 361: Listed Real Estate Offers Investors Ready Access to Specialty Property Types 15:43
15:43 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:43
나중에 재생 나중에 재생 리스트 좋아요 좋아요Andrew Duffy, co-founder, managing partner, chief investment officer, and senior portfolio manager of Ranger Global Real Estate Advisors, an independent investment advisor, was a guest on the latest episode of Nareit’s REIT Report podcast. Duffy spoke about: the state of commercial real estate today and how Ranger Global distinguishes between the performance of geographies and property types; the appeal of next generation property types; the advantages and risks of investing domestically versus globally; the dislocation between listed and private real estate; and the benefits of investing in listed real estate funds.…
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Nareit's REIT Report Podcast
1 Episode 360: Alexander & Baldwin CEO Says Right Time for Transition as REIT Nears Completion of Transformation 15:07
15:07 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:07
나중에 재생 나중에 재생 리스트 좋아요 좋아요Chris Benjamin, CEO of Alexander & Baldwin, Inc . (NYSE: ALEX), was a guest on the latest episode of Nareit’s REIT Report podcast. Benjamin, who will step down as CEO on June 30, reflected on his tenure at A&B, why supporting community organizations has played an important complement to his executive role, the transformation the company has undergone and its decision to convert to a REIT, changing the culture of A&B and its progress on DEI issues, and more. Benjamin said that now is a good time for a transition in leadership, given that “we have nearly completed the significant transformation that we’ve gone through as a company.” The leadership change also coincides with Benjamin’s 60 th birthday, a point at which he is eager to pursue new interests. Lance Parker, currently A&B's president & COO, has been appointed president & CEO effective July 1.…
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Nareit's REIT Report Podcast
1 Episode 359: Global Emerging Market Real Estate Fund Finds Opportunities from Rapid Urbanization Trends 15:07
15:07 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:07
나중에 재생 나중에 재생 리스트 좋아요 좋아요John Haskell, founder and chief investment officer at Atla Capital Management LLC, was a guest on the latest episode of the Nareit REIT Report. During the interview, Haskell talked about the opportunities from investing in global emerging market listed real estate, the scope of the market, the key theme of urbanization, challenges posed by the lack of reporting standardization, the potential shelter that emerging markets offer relative to other markets, and more. Haskell manages the Atla Global Urbanization Listed Fund. A key theme for the fund is urbanization, and the opportunities presented by the rapid rise of emerging market cities. “The greatest social and economic transformations in the world today are in developing countries and it all comes down, in my opinion, to urbanization. While developed cities have mostly plateaued in population growth, emerging market cities are inflecting in population and in wealth,” Haskell said.…
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Nareit's REIT Report Podcast
1 Episode 358: REITs Set to Benefit from Prior Repricing, Anticipated Pause in Rate Hikes 12:08
12:08 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:08
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jonathan Miniman, global portfolio manager and head of the Americas real estate securities research team at CBRE Investment Management, was a guest on the latest episode of the Nareit REIT Report. During the interview, Miniman discussed: concerns impacting commercial real estate—including the banking crisis; potential opportunities for REITs in the months ahead; the role REITs can play in conjunction with private real estate; and the role that active managers can play for REIT investors. Miniman said that the repricing of REITs that occurred last year, coupled with a likely near-term pausing in interest rate hikes, provide a “catalyst” for the asset class going forward. “The listed market has taken a whole lot of the pain already,” Miniman said. He noted that in the past four historical interest rate increase cycles, listed REITs have started to gain ground about three months prior to the final increase.…
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Nareit's REIT Report Podcast
1 Episode 357: REITs Likely to Attract Growing Interest from Private Real Estate Funds 13:39
13:39 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:39
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs are likely to attract growing interest from private real estate funds looking to deploy capital where they see value discrepancies, says Christian Busken, senior vice president and director of real assets at FEG Investment Advisors. “There's a growing recognition that REITs present some attractive opportunities and I think that we'll see more private firms getting into the space,” Busken told the REIT Report podcast. He noted that “it's not unusual for us to see some of our private real estate funds selectively take positions in REITs where they see some kind of a value discrepancy.” Busken added that with $300 billion-plus of private real estate dry powder on the sidelines and needing to be deployed, “we could definitely see more private funds playing in the market.”…
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Nareit's REIT Report Podcast
1 Episode 356: Columbia Threadneedle Launches ETF Amid Signs of Maintained or Increased Real Estate Allocations 11:08
11:08 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:08
나중에 재생 나중에 재생 리스트 좋아요 좋아요Recent survey data from Columbia Threadneedle Investments shows that 93% of financial advisors plan to maintain or increase their real estate allocations over the next 12 to 24 months, confirming that the “timing is right” for the launch of the Columbia Research Enhanced Real Estate ETF (NYSE Arca: CRED), says Marc Zeitoun, head of strategic beta at the global asset manager. Columbia Threadneedle launched CRED on April 26. The ETF tracks a custom, proprietary index which typically tracks 70-90 REITs weighted across eight sectors. It is designed to outperform the FTSE Nareit All Equity REITs Index through research-driven security selection and modified market cap weighting that emphasizes income and geographic opportunity. Speaking on the REIT Report, Zeitoun noted that the firm’s survey data also showed that 82% of financial advisors favored the REIT structure as a way to express their preferences in real estate. “So, we think that timing is right, and we know for sure that the packaging is right relative to the way that advisors and allocators build their client portfolios.”…
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Nareit's REIT Report Podcast
1 Episode 355: REITs Increasingly Adopting Practices That Offer Visibility into Their Environmental, Social Performance 11:55
11:55 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:55
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs are making gains across the board in adopting practices that enable investors to make informed decisions taking into account environmental and social strategy and performance, says Jessica Long, Nareit senior vice president for environmental stewardship and sustainability. Speaking on the REIT Report, Long noted that Nareit’s latest REIT ESG Dashboard shows that 100% of the top 100 REITs are reporting publicly on ESG in some manner. “REITs really are demonstrating that as an industry, real estate is taking seriously the requests from investors and regulators and other key stakeholders that are saying that ‘these environmental and social issues are important to us and we want to understand how you're managing those things.’” One data point in the latest dashboard shows that 89% of REITs are reporting on their climate risk policy. Long noted that these percentages show that REITs “are out ahead on this….and putting in place policies and procedures and looking at the metrics to help better manage this risk and understand what's happening within a REIT’s real estate portfolios.”…
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Nareit's REIT Report Podcast
1 Episode 354: Championing DEI Change Requires Organizations to Take Multi-Pronged Approach 13:33
13:33 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:33
나중에 재생 나중에 재생 리스트 좋아요 좋아요Championing change related to diversity, equity, and inclusion matters requires organizations to actively commit people and resources to the task, to clarify that change is everybody’s responsibility, and to build coalitions wherever possible, says Adjoa B. Asamoah, an advocate of racial equity and an award-winning social impact strategist. Asamoah, a keynote speaker at Nareit's REITwise: 2023 Law, Accounting & Finance Conference, developed the legislative strategy for the CROWN Act and leads the movement on behalf of the CROWN Coalition to end race-based hair discrimination. Speaking on the Nareit REIT Report, she described the CROWN Act as a “blueprint for championing change,” and added that it has been “groundbreaking on so many fronts and really shows that people can have a role in creating the society that they want to live in.”…
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Nareit's REIT Report Podcast
1 Episode 353: Life Sciences Market Being Driven by Late Stage Clinical Pipeline, CBRE Says 13:36
13:36 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:36
나중에 재생 나중에 재생 리스트 좋아요 좋아요A record number of products still under development in the life sciences sector continue to provide tailwinds for the industry, despite volatility in the broader macroeconomic environment, says Matt Gardner, CBRE’s U.S. life sciences leader. Speaking on the Nareit REIT Report, Gardner noted that a bull run of investment in life sciences, that started in 2015, “left us with an incredible number of products in development. And those are still there.” Gardner stressed that the life sciences industry doesn’t follow broader economic patterns. “If a product takes 10 to 15 years to develop, the investment in that product isn't going to follow a seven year economic cycle, which is why we look at this record number of products in phase two and phase three clinical trials as such an important sign of the industry's overall wellbeing. The science is still there,” he said.…
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Nareit's REIT Report Podcast
1 Episode 352: Residential REITs Benefitting from Strong Balance Sheets and Leasing Tailwinds 13:37
13:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요Residential REITs offer investors a safe option amid current volatility, with strong balance sheets, leasing tailwinds, and the continued shortage of affordable starter homes among the key factors supporting growth in the sector, says David Auerbach, managing director at Armada ETF Advisors. Armada’s flagship product HAUS is an exchange traded fund (ETF) comprised of 25 pure play residential REITs in the multifamily, manufactured housing, single-family rental, and senior housing segments. It recently celebrated its one year anniversary of being a publicly traded entity. Speaking to the Nareit REIT Report, Auerbach noted that most REITs in the residential sector were able to lock in attractive long-term debt and are well-capitalized to handle the current interest rate environment. As for leasing and rent growth trends, Auerbach pointed to continued strength in many of the Sunbelt markets, while there are signs of residents returning to some of the coastal markets as well.…
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Nareit's REIT Report Podcast
1 Episode 351: Farmland Partners CEO Sees “Huge Potential” to Grow Asset Class 13:03
13:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요Farmland Partners Inc . (NYSE: FPI) President and CEO Luca Fabbri says there is “huge potential” to grow the share of farmland assets within institutional investor portfolios, especially given the sector’s risk return profile, asset appreciation, and inflation protection benefits. A co-founder of Farmland Partners alongside former CEO Paul Pittman, Fabbri was named president in October 2021 after serving as the company’s CFO since its inception. He became CEO in February. Speaking with the Nareit REIT Report, Fabbri said the value of U.S. farmland assets is about $2.7 trillion, with institutional investors accounting for probably 5% or less of that amount. That means that there is still a lot of education to be done to show investors that the asset class offers many potential benefits. Among those are the scarcity of the underlying asset, an attractive risk return profile, asset appreciation, inflation protection, and the absence of correlation with other asset classes.…
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Nareit's REIT Report Podcast
1 Episode 350: Essex CEO Mike Schall Reflects on Finding the “Right Investments in the Right Place” 35:45
35:45 나중에 재생 나중에 재생 리스트 좋아요 좋아요35:45
나중에 재생 나중에 재생 리스트 좋아요 좋아요Essex Property Trust, Inc . (NYSE:ESS) President and CEO Mike Schall says the multifamily REIT is facing favorable tailwinds—including continued tech investment in its core markets, muted supply, and strong balance sheet fundamentals—as he prepares to step down from his current role at the end of the month. Schall has served as president and CEO since 2011. His successor is Angela Kleiman, Essex’s current SVP and COO. Speaking with the REIT Report, Schall said, “Coming out of periods of disruption, we've always been an opportunistic company. We've always found the right investments in the right place. And I think this is the case today.” Schall highlighted the rapid pace of investments underway today by tech companies in artificial intelligence, which is likely to drive the economies of northern California and Seattle. “That will help Essex continue to grow as it has over much of the last 30 years or so.”…
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Nareit's REIT Report Podcast
1 Episode 349: NMHC President Says Demand for More Housing is “As Far as the Eye Can See” 12:38
12:38 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:38
나중에 재생 나중에 재생 리스트 좋아요 좋아요The supply of housing in the United States has “never been more out of balance”—with the lack of affordable housing particularly acute—making long-term policy initiatives on the federal, state, and local level more important than ever, says Sharon Wilson Géno, president of the National Multifamily Housing Council (NMHC). Wilson Géno assumed the role of president from Doug Bibby in January, when he officially stepped down after more than 20 years of leading the organization. Speaking on the REIT Report, Wilson Géno said, “The bottom line is, the demand for more housing in this country is as far as the eye can see.” Research by NMHC and other organizations indicates that the U.S. housing stock is in a deficit of about 4 million units. Wilson Géno said new households have formed in the wake of the pandemic, “and that really put a significant strain on the housing supply that was available.” Sizeable rent increases also occurred into the first half of 2022, she noted.…
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Nareit's REIT Report Podcast
1 Episode 333: PropTech Seeing Increased Investment, Faster Deployment Across Real Estate Industry 20:03
20:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요20:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요Widespread acceptance that PropTech is an integral part of the real estate landscape today has helped accelerate the adoption of new tech solutions and paved the way for real estate stakeholders to act more nimbly than before, says Sarah Liu, partner on the Real Estate Technology Investment team at venture capital firm Fifth Wall. “Instead of having to wait sometimes maybe more than a year in order to get a decision, we are seeing folks able to test and pilot technology with a speed to deployment of sometimes just a matter of weeks,” Liu told the REIT Report. Liu noted that four or five years ago, the annual amount invested into PropTech was around $4 billion; by last year that number had risen to about $30 billion. Turning to areas where Fifth Wall is collaborating with REITs in PropTech adoption, Liu pointed to investments in electric vehicle charging and property management, including maintenance and renovation. She noted that there are more opportunities for collaboration that haven't yet been tapped, or are still at the early stages, such as sensor tech and improved building management systems.…
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Nareit's REIT Report Podcast
1 Episode 332: Deloitte Outlook Shows CFOs Expect Real Estate Revenues to Come Under Pressure 15:49
15:49 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:49
나중에 재생 나중에 재생 리스트 좋아요 좋아요Inflation pressures, higher interest rates, and supply chain challenges have created a climate of uncertainty in which commercial real estate executives see revenues coming under pressure, according to Deloitte US Real Estate Leader Jeff Smith. Speaking on the REIT Report, Smith said that Deloitte’s 2023 Commercial Real Estate Outlook, which is based on survey results for more than 450 CFOs, showed that 48% of respondents expect revenues to decrease in 2022. That compares with only about 9% expecting a decrease in the prior year’s survey. Despite the anticipated decline in revenues, CFOs were “pretty positive” when it came to real estate fundamentals, Smith said. Over 50% of CFOs said they expect increased leasing and rental rates in the next 12-18 months, along with decreased vacancies, he added.…
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Nareit's REIT Report Podcast
1 Episode 331: American Tower Executive Sees Industry Collaboration as Essential for Achieving ESG Results 11:15
11:15 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:15
나중에 재생 나중에 재생 리스트 좋아요 좋아요Making substantive progress on ESG issues involves going beyond individual corporate actions to encompass industry-wide efforts to bring about real change, says Mneesha Nahata, SVP, Legal & Chief Sustainability Officer at American Tower Corp . (NYSE: AMT). Speaking on the REIT Report, Nahata noted that in addition to finding practical solutions, making investments, and innovating as a company, “it is really about working together and collaboration with other like-minded companies to make a substantive difference, whether that is working together to reduce greenhouse gas emissions, or bridging the digital divide to provide upskilling opportunities to underserved communities.” Nahata said American Tower has placed sustainable operations at the core of its business. “We believe we can be champions of change in the industry and that requires addressing ESG holistically across our organization. And that includes at the very top.”…
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Nareit's REIT Report Podcast
1 Episode 330: Inflation Reduction Act Offers New Energy-Related Provisions for REITs 11:48
11:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요The recently enacted Inflation Reduction Act contains $369 billion in energy-related provisions, including new tax credit incentives that were previously unavailable to the REIT industry, says Nareit EVP and General Counsel Cathy Barré. Speaking to the REIT Report, Barré points out that a number of obstacles have historically limited the ability of REITs to utilize tax credit incentives, with REIT tax credits typically going unused. Barré points out that under the new legislation, however, REITs that make an eligible investment in EV charging stations, or geothermal and solar capability, will now have the full tax credit available to sell at the REIT level. During the interview, Barré discusses how the legislation will impact REITs that invest in eligible sustainability-related projects. She also explains the nature of the tax credit incentives, and how REITs can qualify.…
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Nareit's REIT Report Podcast
1 Episode 329: Strong Board/Management Partnership Benefits REIT Performance Long Term 15:00
15:00 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:00
나중에 재생 나중에 재생 리스트 좋아요 좋아요A corporate governance structure that includes board members that are independent, yet work as strong partners to the executive board, has clear long-term benefits for REIT performance, says Bill Ferguson, chairman of global professional services firm Ferguson Partners. Speaking on the REIT Report, Ferguson said “it’s a fine balance…the board is there to be a fiduciary and represent the shareholders’ interests, but the bottom line is that they also need to be a good partner to the leadership team to make sure that the strategy and the execution of the business makes sense.” Issues surrounding governance, in addition to a range of other ESG topics, will be explored at Nareit’s upcoming REITworks: 2022 Conference held on Sept. 12-13 in La Quinta, California.…
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Nareit's REIT Report Podcast
1 Episode 328: Green Street Says Investors Should Prioritize Public Real Estate in Current Volatility 11:42
11:42 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:42
나중에 재생 나중에 재생 리스트 좋아요 좋아요With listed REITs trading at sizeable discounts to their underlying gross asset value, institutional investors should prioritize public real estate at this time, says Dave Bragg, co-head of strategic research at Green Street. “Now is a great time to prioritize the public market as it is on sale,” Bragg told the REIT Report. Bragg stressed the advisability for investors to have a dual mandate across the public and private real estate markets as it “really does maximize one's opportunity to generate alpha.” Listed REITs have had meaningful declines this year, Bragg noted, but it reflects a broader trend, which is that “just about every asset that one can imagine has delivered a negative total return.” Bragg also noted that capital flows are a key driver of the disconnect in public and private market values. Private market flows have remained robust in 2022 and may even match last year’s record-setting tally, he said. Meanwhile, flows into listed REITs “remain quite tepid.”…
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Nareit's REIT Report Podcast
1 Episode 327: PREIT CEO Says Sale of Unproductive Assets Positions Company Well for Future Growth 12:03
12:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요The sale of roughly half of PREIT’s (NYSE: PEI) portfolio of shopping malls, combined with the replacement of unproductive department stores with better performing assets, positions the company well for the future and makes a compelling case for investors, says Chairman and CEO Joe Coradino. Speaking on the Nareit REIT Report, Coradino also commented on how PREIT is evolving its properties into community hubs. “With assets in Philadelphia and Washington, D.C. that are well located, and with opportunities to do upwards of 4,000 apartments, [as well as] medical facilities and life sciences technology, our ability to attract either buyers or joint venture partners is pretty profound. It gives us a way to harvest capital and create value in these properties,” Coradino said.…
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Nareit's REIT Report Podcast
1 Episode 326: Real Estate Deal Activity Focusing More on Experiential-Oriented Sectors 10:28
10:28 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:28
나중에 재생 나중에 재생 리스트 좋아요 좋아요Real estate deal activity is concentrating on sectors that can perform well in a rising rate environment or in periods of high inflation, with experiential-oriented assets in particular demand, says Tim Bodner, partner and U.S. real estate deals leader at PwC. Speaking on the REIT Report, Bodner said PwC has continued to see activity building in the lodging space, as well as for casinos, marinas, and ski resorts. “All things that are tied to people being out.” Bodner said PwC is anticipating robust deal activity in the back half of 2022, although it may be more episodic in the listed segment of the market. The current environment has meant that there’s a lot more focus on underwriting, Bodner said. “Certainly, growth in rents and in NOI is something that folks are spending a lot of time putting attention on to make sure they feel good about their forward projections.”…
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Nareit's REIT Report Podcast
1 Episode 325: Measurabl CEO Says Real Estate has “Tremendous” Leadership Opportunity to Advance Sustainability 14:32
14:32 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:32
나중에 재생 나중에 재생 리스트 좋아요 좋아요Commercial real estate is in a position to take a leading role to advance the sustainability agenda, while regulation is also helping to move the whole industry forward, says Matt Ellis, founder and CEO of Measurabl, a provider of ESG data management solutions. Speaking on the REIT Report, Ellis said there is a “tremendous leadership opportunity in our sector to really take advantage of the transition to green for the better of everyone—our occupiers and customers, our investors, and certainly ourselves as well. I think that we're in a good position to do it. We just can't slow down. We’ve got to speed up.” Ellis described Measurabl, launched in 2013, as a “decade-long project to build the tools for measuring, managing, reporting, and ultimately acting on sustainability for the real estate sector.” He noted that there has been “a profound migration of organizations of every size around the world towards more sustainable business models. This is being done in just the span of a few years.”…
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Nareit's REIT Report Podcast
1 Episode 324: Affordable Housing Crisis Not Just a Lower Income Phenomena, Former Fannie Mae Exec Says 22:53
22:53 나중에 재생 나중에 재생 리스트 좋아요 좋아요22:53
나중에 재생 나중에 재생 리스트 좋아요 좋아요The affordable housing crisis facing the United States today is not just a lower-income phenomena, but impacts individuals making six-figure salaries, says Kenneth Bacon, co-founder and managing partner of financial advisory and asset management firm RailField Partners, and former Fannie Mae executive. Speaking on the REIT Report, Bacon, who also serves as board chair at Welltower Inc . (NYSE: WELL), said “if you pull back the covers and look at the data, you'll see that young professionals, people earning six figure salaries in cities like San Francisco and New York, are hard pressed to find places that they can afford.” Bacon said the biggest problem behind the lack of affordable housing today is that the building process has become too long and difficult. As for the state of the commercial real estate sector today, Bacon said that as interest rates rise he sees a return to a “more normalized investment ecology.” That in turn will mean that investors are “going to have to work a lot harder to get some of these returns. I think some deals just aren’t going to get done.”…
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Nareit's REIT Report Podcast
1 Episode 323: Lodging Real Estate Sector Fundamentals Healthy, but Margins Softening 14:29
14:29 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:29
나중에 재생 나중에 재생 리스트 좋아요 좋아요Conditions in the lodging and hospitality real estate sector are healthy overall, but the combination of ongoing labor shortages, interest rate creep, and high construction costs are acting to soften margins, says Daniel Weede, partner in Morris, Manning & Martin’s hospitality, real estate, and real estate development & finance practices. Speaking on the REIT Report, Weede noted that “there's a lot of optimism in this industry, and I think, at least for the next several years, that's likely to stay.” However, “margins are thinner,” he added. Weede also discussed the potential for consolidation, noting that there will be likely be more merger and acquisition activity in the next 12 to 24 months than seen in the previous 12 to 24 months. “It's a healthy industry, but you've got some players that are doing really, really well, and others that are struggling a little bit.”…
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Nareit's REIT Report Podcast
1 Episode 322: Phillips Edison Seeing Strong Operating Environment in Grocery-Anchored Shopping Segment 13:23
13:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Phillips Edison & Co., Inc. is seeing a “really strong” operating environment across its portfolio, but the REIT also has a realistic view that there are going to be pressures weighing on the consumer from a range of macroeconomic factors, Chairman and CEO Jeffrey Edison said. Speaking on Nareit’s REIT Report, Edison noted that questions from investors at Nareit’s REITweek: 2022 Investor Conference last week revolved around the theme of potential disruption to the current environment from factors including higher interest rates and inflation pressure. “I think we have a realistic view that there are going to be pressures on the consumer from those macro events,” Edison said.…
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Nareit's REIT Report Podcast
1 Episode 321: Commercial Real Estate Providing Buffer Against Inflation Pressures: Nuveen 13:13
13:13 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:13
나중에 재생 나중에 재생 리스트 좋아요 좋아요Commercial real estate continues to provide a solid hedge against inflation, a trend that has been borne out over multiple decades during periods when inflation has exceeded 4%, says Carly Tripp, global chief investment officer and head of investments for Nuveen Real Estate. Speaking on the REIT Report, Tripp noted that Nuveen research shows that compared to other asset classes, commercial real estate was the only one that emerged with an overall net positive return during those inflationary periods. “We always say real estate is an inflation hedge, and we're seeing that play through right now. So it's a good time to be in commercial real estate in my opinion,” Tripp said.…
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Nareit's REIT Report Podcast
1 Episode 320: Macerich CEO Says Consumers Largely Confident, Despite Current Uncertainty 13:03
13:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요Consumers remain largely confident about their personal situations, despite a host of broader economic and geopolitical concerns, says Tom O’Hern, CEO of Macerich (NYSE: MAC). That sentiment is fueling sales and leasing volumes across the REIT’s portfolio of retail and mixed-use real estate. “The resiliency of the American consumer is amazing, and it is once again on display. Shoppers have come roaring back to our centers to shop with a purpose,” O’Hern told the REIT Report. During the first quarter, sales were 111% of what they were pre-COVID. “Despite the economic uncertainty regarding inflation that we haven't frankly seen in decades, higher mortgage rates, a very volatile stock market, and the war in Ukraine, American consumers remain largely confident about their own situations,” O’Hern said.…
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Nareit's REIT Report Podcast
1 Episode 319: Commercial Real Estate Seen as Good Option in Times of Inflation, Geopolitical Conflict 16:02
16:02 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:02
나중에 재생 나중에 재생 리스트 좋아요 좋아요Private equity funds, endowments, and large institutional investors will continue to have a large appetite for commercial real estate given the current inflationary environment and geopolitical uncertainty, says John Sullivan, chair of DLA Piper’s U.S. real estate practice and co-chair of its global real estate practice. Speaking on the Nareit REIT Report, Sullivan said that asset classes with the ability to reprice themselves due to short lease cycles, such as multifamily and industrial real estate, “are viewed as a good bet because you can raise your rents to… at least keep up with inflation.” Sullivan highlighted some of the findings of DLA Piper’s 2022 State of the Market survey, including that respondents see logistics, multi-family, life science, and data centers as offering the most attractive risk- adjusted returns for the next 12 months.…
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Nareit's REIT Report Podcast
1 Episode 348: Dynex Capital Maintaining Flexible Mindset, Strong Liquidity Amid Current Uncertainty 18:14
18:14 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:14
나중에 재생 나중에 재생 리스트 좋아요 좋아요Dynex Capital, Inc . (NYSE: DX) CEO Byron Boston describes the current geopolitical and macroeconomic conditions as an “evolving period” in which the mREIT is maintaining a flexible mindset and evaluating multiple scenarios for the future. Boston, who is also the mREIT’s co-chief investment officer, told the REIT Report that “we're respectful of this evolving period. We're respectful that we may continue to be surprised.” In response, Dynex Capital is carrying more cash and liquidity on its balance sheet, he noted. “Liquidity is absolutely key.” This year, Dynex Capital will not be trying to predict exactly how far or how fast inflation will go, Boston said. “We are evaluating from a month-to-month basis. We're carrying more cash and liquidity because we feel it is dangerous to try to pick one scenario and structure your portfolio around that one scenario with economic variables being this uncertain, and the potential for exogenous shocks to the economy so high.” Dynex Capital’s number one strategy, according to Boston, is “how much risk should we take in this environment? We have a flexible enough mindset not to reject the data as it's coming out.”…
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Nareit's REIT Report Podcast
1 Episode 347: Investors Should Prioritize Listed Real Estate Market Over Private: LaSalle 12:11
12:11 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:11
나중에 재생 나중에 재생 리스트 좋아요 좋아요Investors looking to allocate to real estate today should consider the listed market first, with REITs in particular priced to deliver annual returns in the high single digit range for the next several years, says Lisa Kaufman, head of global securities at LaSalle. “We see public real estate as unequivocally more attractive than private real estate today,” Kaufman told Nareit’s REIT Report podcast. Kaufman said the REIT market has been “really very rational” through the recent period of tightening financial conditions, “and financial conditions do remain in the driver's seat.” She noted that REIT returns “are attractive and we have a higher level of conviction in our outlook today just given the material tightening of financial conditions and the repricing that's already occurred in the REIT sector.” REITs are underrepresented today in institutional real estate portfolios, Kaufman said. Listed real estate represents around 45% of institutional quality real estate worldwide, but only about 20% of investors’ real estate allocation. REITs have the additional benefit of being disproportionately weighted toward non-traditional property types like self-storage, health care, and data centers, she said.…
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Nareit's REIT Report Podcast
1 Episode 346: REITs Offer Protection Against High and Moderate Inflation 11:21
11:21 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:21
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs provide protection against high and moderate inflation across a range of property types, says Nareit Vice President of Research Nicole Funari. Speaking on Nareit’s REIT Report podcast, Funari noted that, in terms of how REITs respond to inflation pressures, “people are inclined to believe that there might be differences among the property sectors, but the data doesn't bear that out.”…
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Nareit's REIT Report Podcast
1 Episode 345: Citi Analysts see Opportunities Amidst Uncertainty Across Global Real Estate Markets in 2023 23:43
23:43 나중에 재생 나중에 재생 리스트 좋아요 좋아요23:43
나중에 재생 나중에 재생 리스트 좋아요 좋아요The potential for rolling country-level recessions and the impact of higher interest rates on transactions and capital flows are among the main themes influencing global real estate investment in 2023. The result, according to Citi’s global real estate research team, are opportunities mixed in with the broader uncertainty facing investors. “I think there's a lot more uncertainty entering 2023 than we've seen at least in the past few years, putting aside COVID. I think that's going to be the biggest challenge and opportunity depending on how that turns out,” Nick Joseph, Citi’s global head of real estate and head of the U.S. real estate and lodging research team, told Nareit’s REIT Report podcast. Global sector-specific trends that Citi is monitoring include: the future of the office; e-commerce and the impact on brick and mortar; lodging demand and recovery; health care coming out of the pandemic; housing trends; and digital transformation and its impact on infrastructure.…
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Nareit's REIT Report Podcast
1 Episode 344: Nareit’s Ayris Scales says REITs Undertaking “Critical” Work to Better Reflect Diverse Demographics 9:44
9:44 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:44
나중에 재생 나중에 재생 리스트 좋아요 좋아요The REIT industry is undertaking “critical” work to ensure that real estate’s leadership, staff, and procurement opportunities better reflect the nation’s wider demographics, says Ayris T. Scales, Nareit’s senior vice president for social responsibility and global initiatives. Speaking on Nareit’s REIT Report, Scales said that Nareit is working together with its REIT members to accelerate change collectively and “elevate the way that we do things on behalf of the industry.” Scales outlined two key projects underway at Nareit to advance diversity and inclusion throughout the industry. She noted that the grant application process for the Nareit Foundation’s Dividends through Diversity, Equity, and Inclusion (DDEI) Giving Campaign opened this week. Among the groups urged to apply, Scales said, are organizations focusing on ways to help secure talent for the real estate industry by looking at ways to expose high school or college students to real estate opportunities through mentorship, internships, and any other types of leadership and professional development opportunities.…
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Nareit's REIT Report Podcast
1 Episode 343: Cohen & Steers’ Rich Hill Says Timing is Right for Building Exposure to REITs 14:05
14:05 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:05
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs have historically made solid returns following the onset of a recession, particularly in the early stages of the cycle, making this an ideal time for investors to begin building an exposure to the asset class, says Rich Hill, head of real estate strategy and research at Cohen & Steers. Speaking on the Nareit REIT Report, Hill said REITs have historically produced average 12-month forward returns of more than 10% following the onset of a recession, with early-cycle returns exceeding 20%.…
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Nareit's REIT Report Podcast
1 Episode 342: Real Estate Capital Markets Recovery Likely Around Mid-2023: CBRE 9:47
9:47 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:47
나중에 재생 나중에 재생 리스트 좋아요 좋아요A recovery in the real estate capital markets is likely to begin around the middle of the year, with transaction activity becoming better supported over the course of 2023 as financial stresses start to ease, says Richard Barkham, CBRE’s global chief economist. Speaking on the Nareit REIT Report podcast, Barkham said, “real estate capital markets tend to lead the economy, both on the downside and in the upturn…it’s going to take a while for investors to start to move because they want to assess the situation in terms of fundamentals. But we do see a capital markets recovery beginning around mid-year.” Barkham said transaction activity is likely to become better supported over the course of the year as financial conditions improve, primarily in the second half of the year. However, “that's not to say there won't be activity in the first half of the year. There is a record amount of capital looking to deploy in real estate and looking for opportunities, particularly if pricing is a little bit more favorable.”…
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Nareit's REIT Report Podcast
1 Episode 341: New Initiative Aims to Launch Ethnically Diverse Students into Real Estate Careers 13:13
13:13 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:13
나중에 재생 나중에 재생 리스트 좋아요 좋아요Centers for Leadership Excellence (CLE), a new initiative from the Ferguson Charitable Foundation, seeks to introduce ethnically diverse college students to career opportunities available in real estate, with the long-term goal of helping to change the racial and ethnic composition of the sector. “We want to get these students into the boardroom and into the c-suite because as leaders they can effectuate change,” Bill Ferguson, chairman of Ferguson Partners and president of the Ferguson Charitable Foundation, told the Nareit REIT Report. Ebony Mitchell, director of strategic initiatives at Ferguson and student liaison for CLE, noted that with the lack of ethnic diversity in commercial real estate, “there's been a limited number of role models and mentors of color to attract young collegiate talent on and off campus.” She added that many of Ferguson’s clients have also struggled with attracting diverse talent, especially at the entry level due to traditional campus recruiting efforts. Ferguson explained that students selected into the CLE Program are required to take a certain number of courses in real estate in order to graduate with a minor in real estate. Given Ferguson’s vast network of corporate relationships across 12 sectors in the real estate industry, “we are connecting them with clear opportunities,” he said.…
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Nareit's REIT Report Podcast
1 Episode 340: REITs Well Positioned to Navigate Economic and Market Uncertainty of 2023 15:44
15:44 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:44
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs have demonstrated resilient operational performance and are well prepared for the continued economic uncertainty, higher interest rates, and elevated inflation expected in the coming year, says Ed Pierzak, Nareit’s senior vice president for research. Speaking on the Nareit REIT Report, Pierzak noted that REITs are not only performing well but are keeping pace with inflation. Meanwhile, balance sheets are in “great shape,” with leverage ratios near historical lows. With the risk of recession a dominant theme for 2023, Pierzak pointed out that “a recession does not have to equate to negative property total returns.” A Nareit analysis of the last six U.S recessions shows that on average, REIT's underperformed private real estate in the four quarters before a recession. However, REIT's outperformed private real estate both during a recession and in the four quarters after. A comparison of the FTSE Nareit All Equity Index to the Russell 1000 Index found that it outperformed broader equities before, during, and after recessions.…
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Nareit's REIT Report Podcast
1 Episode 339: Retrofitting Buildings Seen as Essential Step to Reaching Net Zero Emissions Goals 13:16
13:16 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:16
나중에 재생 나중에 재생 리스트 좋아요 좋아요As decarbonizing buildings becomes essential to achieving net zero emissions goals, the real estate industry needs to rebalance its efforts away from new building in favor of retrofitting existing buildings, says Jeremy Kelly, director of global research at JLL. Speaking on the REIT Report, Kelly said retrofitting has to become “the new normal” given that about a 10th of global emissions are coming from new construction. JLL has calculated that in mature cities, 80% of office buildings that exist today will still be standing in 2050. That means a retrofitting rate of about 3-3.5% of inventory every single year to meet net zero targets. However, that compares with retrofitting rates that are around 1% today. “So, we've got to triple, quadruple the rates of retrofitting,” Kelly said.…
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Nareit's REIT Report Podcast
1 Episode 338: Real Estate Investors Await Better Price Discovery Before Committing to the Market 10:23
10:23 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:23
나중에 재생 나중에 재생 리스트 좋아요 좋아요Constriction in the credit markets has caused real estate investment transactions to slow, but there’s still plenty of dry powder on the sidelines ready to execute as soon as clearer price discovery emerges, says Byron Carlock, real estate practice leader at PwC. Speaking on the REIT Report, Carlock said that the current sentiment is one of cautious optimism. “Demand on the street from any of the product types is still quite good, especially multifamily, industrial, even the hotel sector. And frankly, retail is picking up again.” Carlock discussed the sectors highlighted in PwC’s Emerging Trends in Real Estate 2023 report that are likely to be most insulated from economic uncertainty. Industrial was in first place, followed by multifamily. “Affordability of home ownership continues to suffer, so we’re moving to a greater renter orientation in our population,” he said.…
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Nareit's REIT Report Podcast
1 Episode 337: GRESB’s Dan Winters Expects REIT Scores to Increase in Coming Years 14:46
14:46 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:46
나중에 재생 나중에 재생 리스트 좋아요 좋아요The REIT industry is likely to see additional gains in GRESB performance in the years ahead, given that a number of listed REITs appeared in the benchmark for the first time this past year, says Dan Winters, senior director at GRESB. Speaking on the REIT Report, Winters noted that in general, GRESB scores start to ramp up in year two and year three, “so I'm really expecting some additional increases in the REIT score in the years ahead.” Winters also discussed how a flight to quality real estate assets is likely to characterize the next several years, with companies needing to offer a superior investment and occupant experience to maintain competitiveness. Winters said that achieving those aims requires “a solid ESG program that's continuing to advance.” He added that the biggest threat to ESG is inertia, but that in the current economic climate the real estate industry is more likely to accelerate ESG-oriented efforts than pull back.…
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Nareit's REIT Report Podcast
1 Episode 336: Newly-Rebranded Elme Communities Sees Significant Demand from Mid-Market Renters 15:59
15:59 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:59
나중에 재생 나중에 재생 리스트 좋아요 좋아요A growing need for more mid-market affordable housing, particularly in its targeted Sun Belt markets, has Elme Communities (NYSE: ELME), formerly WashREIT, anticipating its strongest growth in 20 years, says President and CEO Paul McDermott. “That mid-market renter is really the deepest part of the demand curve, and we only see that curve growing,” McDermott told the REIT Report. While acknowledging the current volatile interest rate climate, he added that it doesn’t “erase the fact that there is a significant need for more affordable homes, especially in the markets that we're targeting, and in that particular rental band cohort that we're targeting also.” Elme has been fully focused on multifamily since completing the sale of retail and office assets in 2021, although the REIT started messaging its intent to focus on multifamily back in 2016. McDermott noted that households making between $35,000 and $75,000 comprise over a third of rental households in its targeted Sun Belt markets. However, the share of new product delivering into those markets since 2018 that's affordable to households making around $60,000 is 2% or less, he added.…
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Nareit's REIT Report Podcast
1 Episode 335: REITs Look Increasingly to International Markets for Life Sciences Exposure 16:48
16:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs active in life sciences real estate are increasingly looking to complement their domestic portfolios with holdings in international markets where world-class scientists and strong infrastructure are creating a “vibrant ecosystem,” says Travis McCready, head of life sciences, Americas markets, at JLL. “The life sciences market is increasingly going global, and from a REIT perspective, it's going global faster,” McCready told Nareit’s REIT Report. “I can't think of any of the leading REITs, publicly traded or private, that are simply looking at portfolios in the U.S. anymore. Everyone is looking for exposure across the Atlantic and across the Pacific.” In addition to seeking ways to deploy capital, REITs are taking advantage of international markets that are “incredibly effective” at creating conditions ripe for life sciences innovation, McCready said. Elsewhere in the podcast, McCready noted that from a venture capital standpoint, things are looking “quite good” for the life sciences market. However, “where the picture seems to change radically is when you start looking at the public markets, particularly IPOs, which for the life sciences ecosystem is somewhat of the lifeblood and the way that capital and exits are created.”…
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Nareit's REIT Report Podcast
1 Episode 334: Healthy Building Environments Seen as “Table Stakes” for Tenants & Investors 17:58
17:58 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:58
나중에 재생 나중에 재생 리스트 좋아요 좋아요Healthy building environments have become an essential requirement for attracting and retaining tenants, and also for ensuring that real estate assets avoid becoming stranded for failing to meet baseline requirements, says Joanna Frank, president and CEO of the Center for Active Design (CfAD), operator of the Fitwel healthy building certification system. Speaking on the REIT Report, Frank noted that “health is seen as essential. It is seen as table stakes. If you want to attract and retain tenants, you really need to be able to answer that question of ‘how is this a health-promoting environment?’” For investors, Frank pointed to “a distinct possibility of having stranded assets, of actually seeing your asset become less valuable, if you aren't meeting that baseline for being a healthy building because your peers and your competitors are able to articulate that.”…
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Nareit's REIT Report Podcast
1 Episode 318: Global Investment in U.S. Real Estate at Strongest-Ever Level 19:08
19:08 나중에 재생 나중에 재생 리스트 좋아요 좋아요19:08
나중에 재생 나중에 재생 리스트 좋아요 좋아요Global investment in U.S. real estate is at its strongest-ever level, with non-core markets and multifamily and industrial asset classes continuing to lead the charge in terms of investor interest, according to Gunnar Branson, CEO of AFIRE, the association for international real estate investors focused on commercial property in the U.S. Speaking on the Nareit REIT Report, Branson noted that while there are certainly lots of concerns surrounding global events, “real estate investing is on a terrific pace in the first quarter.” The top property asset class for institutional investors from around the world continues to be multifamily, Branson said, followed by industrial real estate. And while the office asset class will definitely continue to exist, questions remain about which offices are going to succeed, and which will have to rethink the level of capital investment that will be required to compete, he added.…
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Nareit's REIT Report Podcast
1 Episode 317: Human Capital Strategies Key as Real Estate Industry Faces Skills Gap 10:03
10:03 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:03
나중에 재생 나중에 재생 리스트 좋아요 좋아요A skills gap within the real estate industry means that to attract talent, firms must adopt human capital strategies that align with changes in employee expectations, says Gemma Burgess, president of Ferguson Partners. Burgess will become CEO of Ferguson, a global professional services firm, on June 1. Speaking on the REIT Report, Burgess attributed a skills gap within the real estate industry to the fact that many mid-level professionals left the field in the wake of the global financial crisis. “We’re definitely facing a missing generation in our industry. That’s suddenly making the succession work more challenging,” she added. Meanwhile, Burgess pointed to changes that have occurred in the workplace. “People want to work in different ways today. They want to work more flexibly. They certainly want to work within an environment where they feel like they belong and that there’s a culture that they believe in, and they can see a future for themselves.”…
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Nareit's REIT Report Podcast
1 Episode 316: Return to Office to Take Rest of 2022 to Take Hold 18:48
18:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요18:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요Although a return to the office has started in earnest, it will take the rest of 2022 to take hold, and even longer before clear patterns of usage emerge, says Julie Whelan, global head of occupier research at CBRE. Speaking on the REIT Report, Whelan said it will likely be 2023 “before we can really start to hang our hat on trends that we can say are stable [in order] to build assumptions about what new work patterns are going to look like.” Whelan described current office usage as “muted…but the good news is that it’s picking up.” Some of the Southern states have seen a higher return to office rate, although in the past week New York and Washington, D.C. actually saw some of the biggest gains, she noted.…
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Nareit's REIT Report Podcast
1 Episode 315: Angel Oak Sees Growth Opportunity as Non-Qualified Mortgage Segment Reverts to Historical Norms 13:10
13:10 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:10
나중에 재생 나중에 재생 리스트 좋아요 좋아요Angel Oak Mortgage, Inc . (NYSE: AOMR) CFO Brandon Filson sees the non-qualified mortgage (QM) loan segment reverting over time to its historical level of about 10% of the overall mortgage market, compared to 2% today, providing the mREIT with significant opportunity for growth in the years ahead. Speaking on the REIT Report, Filson noted that 10% of the overall market would be about $200 billion, versus about $25 to $50 billion today. Angel Oak Mortgage, which went public in June 2021, focuses on acquiring and investing in first lien non-QM loans and other mortgage-related assets in the U.S. mortgage market. Non-QM loans are not backed by government agencies and are aimed at homebuyers unable to meet the strict criteria of a qualifying mortgage in areas such as income or personal debt.…
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Nareit's REIT Report Podcast
1 Episode 314: Business Models Seen as Central to Corporate Performance & Wealth Creation 7:45
7:45 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:45
나중에 재생 나중에 재생 리스트 좋아요 좋아요Business models are central to corporate performance and wealth creation, and even the most complex models can be reduced to six basic variables, says Chris Volk, a veteran REIT executive, business leader, and author. Speaking on the REIT Report, Volk discussed his upcoming book, The Value Equation, which will be published on May 10. Volk also discussed his career, during which he introduced and led three public companies. One of those was STORE Capital Corp. (NYSE: STOR), his third net lease iteration, formed in 2011. Combined, the companies provided more than $20 billion in growth capital to thousands of businesses, he said.…
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Nareit's REIT Report Podcast
1 Episode 313: Non-Traded Alternative Investments Market Could Reach $250 Billion Within Next 5 Years 26:43
26:43 나중에 재생 나중에 재생 리스트 좋아요 좋아요26:43
나중에 재생 나중에 재생 리스트 좋아요 좋아요Capital flow of non-traded alternative investments could grow to a $250 billion a year market within the next five years, with early 2022 data already pointing to a record-breaking year for fundraising in the sector, according to the Institute for Portfolio Alternatives (IPA). Speaking on the REIT Report on April 18, Anya Coverman, SVP, government affairs and general counsel at IPA, said the outlook for 2022 is “incredibly bright. You have Blackstone, Starwood, and other large asset managers leading with a blockbuster year.” Citing research data from Robert A. Stanger & Co., Coverman said sales overall are topping $19.1 billion in January and February. “So, this is already on pace to beat last year's record tally of $70 billion.”…
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Nareit's REIT Report Podcast
1 Episode 312: Residential Real Estate Seeing Strong Supply-Demand Backdrop: Fund Manager 15:01
15:01 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:01
나중에 재생 나중에 재생 리스트 좋아요 좋아요Outside of the industrial sector, residential real estate in the United States “probably has the best supply-demand backdrop in global real estate right now,” says Ryan Dobratz, portfolio manager of the Third Avenue Real Estate Value Fund. Speaking on the REIT Report, Dobratz said he sees “a significant amount of demand for single family housing, in particular within more affordable Sunbelt markets, at the same time that supply is very, very low.” Companies active on the home building side are seeing benefits, Dobratz said, including timber REITs. Timber REITs are going to be able to generate much higher levels of cash flow and ultimately pay much higher dividends, given residential market conditions, he noted. “Timber is also a terrific place to be invested in an inflationary environment.” Dobratz pointed to the war in Ukraine, supply chain issues, and high inflation as issues of macro concern right now. At the same time, he noted that “commercial real estate has historically been a great place to park capital and to protect it from inflation over time.”…
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Nareit's REIT Report Podcast
1 Episode 311: SEC Climate Change Disclosure Proposals Seen as First Step in Finding the Right Regulatory Balance 9:27
9:27 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:27
나중에 재생 나중에 재생 리스트 좋아요 좋아요Proposed Securities and Exchange Commission (SEC) rules to enhance and standardize climate-related disclosures for investors are just the first step in terms of finding the right balance of what's required from a regulatory perspective, said Uma Pattarkine, a senior investment strategy analyst and global ESG lead for CenterSquare Investment Management. Pattarkine told the REIT Report that the SEC proposals were “a lot more robust than I had originally anticipated,” given the level of initial disclosure, and require REITs to be able to get a lot of that data at the property level. Many REITs, Pattarkine said, are already committed to science-based targets. For such companies, the SEC proposals will not impose any additional burdens. However, for REITs that have been lagging in terms of collecting data, “it's going to take a lot of work for them to get to what the SEC might require from a disclosure perspective.”…
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Nareit's REIT Report Podcast
1 Episode 310: Camden Property Trust COO Says Pandemic Amplified the Importance of Gender Equity, Diversity 21:26
21:26 나중에 재생 나중에 재생 리스트 좋아요 좋아요21:26
나중에 재생 나중에 재생 리스트 좋아요 좋아요Laurie Baker, COO at Camden Property Trust (NYSE: CPT), says the importance of gender equity and diversity within the commercial real estate industry has been amplified as a result of the pandemic. Speaking on Nareit’s REIT Report, Baker said that while more women are rising to key leadership positions across the industry, the pandemic “in many ways stalled the progress that was being made because they [women] were disproportionately forced to choose between careers and caregiving for their family.” At the same time, Baker said, the pandemic also presented opportunities in the form of new forms of flexibility and “resetting definitions of career satisfaction and what company success and personal success is.” Baker, who was named COO in late 2021, also reflected on her more than two decades at Camden, including her work implementing pioneer revenue management technology as well as helping to create Camden’s first investment funds.…
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Nareit's REIT Report Podcast
1 Episode 309: Invitation Homes Expanding Choice in Housing Market Through Pathway Homes Investment 10:24
10:24 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:24
나중에 재생 나중에 재생 리스트 좋아요 좋아요Dallas Tanner, president and CEO of Invitation Homes Inc . (NYSE: INVH), says the REIT’s $250 million investment in Pathway Homes will expand choice in the housing market by helping first-time homebuyers who lack access to traditional avenues to home ownership. Speaking on the REIT Report, Tanner said Pathway, launched in partnership with Regis Group and Fifth Wall, is an opportunity to support a growing segment in the marketplace—individuals that want a lease option purchase agreement or the chance to build equity in a home over time. Pathway works directly with customers to identify and purchase a home, offering them the opportunity to first lease and then buy the home outright at a future date. In addition to investing in the homes and technology platform for Pathway and its real estate fund, Invitation Homes will provide maintenance and other services to all Pathway homes, enabling the REIT to broaden its third-party property management services.…
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Nareit's REIT Report Podcast
1 Episode 308: Progress on DEI Requires Committed Leadership, Statements Backed by Action 19:09
19:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요19:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요Committed leadership and statements backed up by substantive action are key to ensuring that organizations make progress on diversity, equity, and inclusion (DEI), according to Kira Banks, co-founder of the Institute for Healing Justice and Equity at Saint Louis University, where she is also an associate professor in the department of psychology. Speaking on the REIT Report, Banks notes that since George Floyd's murder in 2020, more leaders in business are understanding that DEI is core. “They understand it is a part of the work of doing business nowadays.” However, the work won’t be sustainable unless leadership is fully committed, Banks says. “If leadership is not on board, it gives other people an opportunity to opt out.” Banks also says that more organizations are understanding that symbolic statements are insufficient and must be backed up with action. “Those sorts of symbolic gestures in some ways can do more harm than good if they're disingenuous, if they're not followed up by anything substantive,” she notes.…
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Nareit's REIT Report Podcast
1 Episode 307: Long-Term Interest Rates to Remain Very Favorable for Commercial Real Estate 7:18
7:18 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:18
나중에 재생 나중에 재생 리스트 좋아요 좋아요Anticipated interest rate increases of about one and a half percentage points by year-end will still create a “very favorable” environment for commercial real estate, says Nareit Senior Economist Calvin Schnure. Speaking on the Nareit REIT Report, Schnure noted that it is “appropriate” for the Federal Reserve to be raising interest rates at this point and removing the stimulus that was put in place early in the pandemic. Schnure noted that goods inflation has been at about 12% over the past year, while service price inflation has slowed somewhat. “This suggests that we're not having a long- term problem from wage pressures with inflation. I do expect inflation to slow down, mostly in the second half of this year,” he said. REITs, Schnure said, perform better than most other sectors during periods of moderate to high inflation because they represent a real asset that own properties whose values rise with prices and with leases that can respond to changing market conditions.…
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Nareit's REIT Report Podcast
1 Episode 306: Hotel Transaction Activity Expected to be “Incredibly Strong” in 2022 19:12
19:12 나중에 재생 나중에 재생 리스트 좋아요 좋아요19:12
나중에 재생 나중에 재생 리스트 좋아요 좋아요Transaction activity in the hotel sector this year is expected to be “incredibly strong,” with robust pricing continuing in the luxury resort segment and the start of a recovery in business transient and group demand, according to Kevin Davis, CEO of JLL Hotels & Hospitality, Americas. Speaking on the REIT Report, Davis noted that JLL has more than $12 billion in its U.S. hotel sales and financing pipeline for 2022, the highest level since 2015, which was already a record year from a transaction volume perspective. If JLL is a proxy for the market, “my expectation is that you'll see a lot of transactions this year.” Davis said anticipated gains for 2022 follow a particularly strong year for the industry in 2021. This was fueled by the large amount of capital that had aggregated on the sidelines to take advantage of potential distress in the sector—which never materialized—as well as pent-up consumer demand for travel.…
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Nareit's REIT Report Podcast
1 Episode 305: Farmland Investment Offers Stability, Good Returns, Inflation Hedge Benefits 12:07
12:07 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:07
나중에 재생 나중에 재생 리스트 좋아요 좋아요Investing in the farmland sector offers stability, strong income, good total returns, and inflation hedge characteristics, among other benefits, according to Martin Davies, global head of Nuveen Natural Capital. Speaking on the REIT Report, Davies also noted that “one very compelling theme is not being correlated to the economic cycle. Through the COVID-19 pandemic we’ve seen no dip-off in farmland returns. As we’ve seen historically through other economic crises, such as the global financial crisis and the tech bubble, farmland returns stayed strong through that period.” Davies noted that while land values historically have been a function of what was actually produced, going forward there could be increased opportunities to monetize some of the additional benefits that exist, including water quality, biodiversity, and carbon sequestration.…
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Nareit's REIT Report Podcast
1 Episode 304: Data Center Sector Promoting Renewable Energy Use Across the Electric Grid 17:22
17:22 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:22
나중에 재생 나중에 재생 리스트 좋아요 좋아요The data center sector is playing a significant role in getting utilities to increase the use of renewables across the electricity grid and bring about the larger goal of a 90% carbon-free electricity system by 2030, according to Breana Wheeler, director of operations at BREEAM USA. Speaking on the REIT Report on Jan. 24, Wheeler noted that the focus on decarbonizing the grid is “really critical, because while reducing energy consumption is important, data centers specifically will always face significant challenges to either build enough renewables to cover total usage or build close enough to an abundant supply of renewable energy.” Wheeler also discussed how BREEAM’s relationship with the data center sector has developed over the years, whether the general perception of data center energy consumption fits the reality, and how the data center sector is having a positive knock-on effect in terms of making other industry sectors improve their sustainability performance.…
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Nareit's REIT Report Podcast
1 Episode 303: Prologis sees Multi-Year Tailwinds from Efforts to Rebuild Inventory Levels 14:34
14:34 나중에 재생 나중에 재생 리스트 좋아요 좋아요14:34
나중에 재생 나중에 재생 리스트 좋아요 좋아요Prologis, Inc . (NYSE: PLD) Global Head of Capital Deployment Dan Letter says ongoing efforts by companies to rebuild inventories to pre-pandemic levels, and a focus on resiliency rather than efficiency in the supply chain, will create multi-year tailwinds for the REIT. Speaking on the REIT Report, Letter noted that inventory to sales levels are 10% below where they stood pre-pandemic. “Our customers are just trying to get back to the pre-COVID levels, let alone build that new safety stock on top of that,” he said. Letter said he expects supply chain challenges will persist into 2023. Vacancy rates are at unprecedented lows and space in Prologis’ markets is effectively sold out, he added. Prologis continues to see broad based demand in markets around the globe, according to Letter. The REIT is planning to start over $5 billion in developments this year, and also expects to make about $1.5 billion in acquisitions. In addition, Prologis’ land portfolio will allow it to develop over $26 billion of new product.…
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Nareit's REIT Report Podcast
1 Episode 302: American Finance Trust Strengthens Commitment to Brick and Mortar Retail 16:48
16:48 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:48
나중에 재생 나중에 재생 리스트 좋아요 좋아요With a footprint heavily weighted toward the Sunbelt, plus an expanding portfolio of necessity retail assets, Michael Weil, CEO of American Finance Trust, Inc . (Nasdaq: AFIN), says the REIT is well-positioned for 2022 and beyond. Speaking on the REIT Report podcast Jan. 12, Weil said the company’s proposed $1.3 billion acquisition of shopping center assets from subsidiaries of CIM Real Estate Finance Trust, Inc., combined with its upcoming rebranding to The Necessity Retail REIT Where America Shops, spells out its clear focus on a particularly active corner of the retail sector. Since the REIT’s listing on Nasdaq in 2018, it has focused on single tenant and multi-tenant retail, with the latter in the form of open-air shopping centers. “We think it's an incredibly viable, strong asset class and it creates a portfolio that has terrific underlying strength,” Weil said. Over the last four or five years, as the REIT has continued focusing on necessity retail, it has grown from about $3.4 billion of assets to a projected $5.1 billion.…
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Nareit's REIT Report Podcast
1 Episode 301: REIT Industry Seeing Ample Capital, Rising Rents, & Elevated Asset Values at Year-End 11:38
11:38 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:38
나중에 재생 나중에 재생 리스트 좋아요 좋아요The REIT industry is closing out 2021 in a position of strength, with ample financing available, brisk merger and acquisition activity, high and rising rents, and elevated asset levels, according to Evan Hudson, partner and real estate capital markets legal expert at Stroock. “The credit markets are incredibly active, they’re liquid, they’re deep,” Hudson said. He noted that in addition to common and preferred equity deals, largely through at-the-market (ATM) offerings, his firm is also seeing a high level of joint venture activity. Following a productive year for M&A deals in 2021, Hudson expects all property sectors to be active in 2022. “Even though we have price agreement (between buyer and seller) and the price is very high, a lot of deals are still happening.” He stressed that what is new in the current environment is the entrance of “colossal” non-traded REITs with hefty amounts of cash to deploy.…
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Nareit's REIT Report Podcast
1 Episode 300: Economy on Sound Footing Entering 2022, Providing Solid Backdrop for REIT Performance 7:27
7:27 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:27
나중에 재생 나중에 재생 리스트 좋아요 좋아요The economy will enter 2022 on a firm footing and should be able to withstand a variety of challenges that have emerged in recent months, providing a backdrop for continued solid REIT performance, says Nareit Senior Economist Calvin Schnure. Schnure noted that the economic mood has shifted over the last couple of months, reflecting the new Omicron COVID-19 variant, supply chain issues, price spikes, and labor shortages, among other issues. “Overall, though, the economy is quite sound. It has a lot of strength and should be able to handle these challenges pretty easily in the year ahead,” Schnure said, particularly since many of the current challenges are related to the pandemic and should ease as COVID cases come down. As for the hot topics of inflation and interest rates, Schnure pointed out that inflation is still very connected to short-term bottlenecks. “We’re going to see continued concern about inflation, which the Fed is going to be watching closely,” he said, with gradual increases in interest rates likely to begin around the middle of next year.…
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Nareit's REIT Report Podcast
1 Episode 299: REIT M&A Boosted by Price Recovery, Attractive Financing, & Renewed Activist Pressure 7:18
7:18 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:18
나중에 재생 나중에 재생 리스트 좋아요 좋아요Total REIT M&A activity through the third quarter of 2021 has already surpassed levels seen in 2019 and 2020, boosted by price recovery, attractive financing, and renewed pressure from activist investors, says Blake Liggio, partner in the real estate industry group of global law firm Goodwin. “Pricing for deals has improved coming out of the pricing troughs that we saw in many sectors during the pandemic… over the last two years it has been more challenging for boards to justify a sale of the company,” Liggio said. The current pace of deal volume, supported by low interest rates and attractive financing, is likely to remain intact through the end of the year, he added. The industrial, self-storage, data centers, multifamily, and life science sectors continued to see M&A activity from the end of 2019 and largely throughout 2020, Liggio said. In 2021, other sectors such as retail and office, have regained activity or begun to think about entering into a transactional strategic review.…
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Nareit's REIT Report Podcast
1 Episode 298: Pebblebrook CEO Says Lodging Sector Showing a Varied Recovery Path 12:56
12:56 나중에 재생 나중에 재생 리스트 좋아요 좋아요12:56
나중에 재생 나중에 재생 리스트 좋아요 좋아요The hotel and lodging sector is showing a varied recovery, as it outperforms 2019 levels in some areas but struggles in others, according to Pebblebrook Hotel Trust (NYSE: PEB) Chairman, President, and CEO Jon Bortz. Speaking on Nareit’s REIT Report, Bortz noted that strength in the market has tended to be concentrated in resorts, particularly drive-to resorts, which are often achieving higher occupancy and rates than seen in 2019. The struggles, on the other hand, have mainly been in the urban environment, Bortz said. He noted that in San Francisco, Pebblebrook’s revenue is still down 80% from 2019 levels, while in Washington, D.C., revenue is down 70% over that same period. Bortz said signs of recovery in business travel are already evident, “but it’s a very slow recovery.” He said business transient travel appears to be about 40-50% back, while business group travel is about 30-40% back.…
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Nareit's REIT Report Podcast
1 Episode 297: Real Estate Industry Must Tackle Carbon Reduction Collectively or Face Government Mandate 13:20
13:20 나중에 재생 나중에 재생 리스트 좋아요 좋아요13:20
나중에 재생 나중에 재생 리스트 좋아요 좋아요The real estate industry needs to collaborate and embrace technology as it works to reduce carbon emissions or else face having external mandates forced upon it, says Peter Gajdoš, a partner at venture capital firm Fifth Wall. Speaking on the Nareit REIT Report, Gajdoš, who co-leads Fifth Wall’s climate technology investment team, noted that although tackling carbon emissions will take decades, the real estate industry should see it not as a threat but as an opportunity to cooperate. “Let’s work together, let’s find solutions because otherwise I believe the sector will be mandated to fix the carbon problem and I’d rather see the sector proactively working on this and finding solutions ourselves rather than a top-down approach from the government,” Gajdoš said.…
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Nareit's REIT Report Podcast
1 Episode 296: Prologis Addressing Heightened Need for Logistics Labor and Talent 7:11
7:11 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:11
나중에 재생 나중에 재생 리스트 좋아요 좋아요Increased customer demand for logistics labor, combined with rising worker expectations around training and career opportunities, has led Prologis, Inc . (NYSE: PLD) to expand its logistics training program to six major logistics hubs, with plans to add programs in nine additional national markets by the end of 2021. Speaking on Nareit’s REIT Report, Steven Hussain, vice president of workforce programs and community relations at Prologis, explained that the REIT’s Community Workforce Initiative (CWI) training program launched in 2018 in response to conversations with Prologis’ largest customers that identified labor and talent as their number one pain point. At the same time, Prologis’ community partners were looking for “on ramps” to well-paid jobs for individuals they served. Since then, the labor market has become even more challenging, Hussain explained. “It’s incredibly competitive and incredibly challenging to recruit right now and worker concerns around COVID-19 persist and safety is top of mind. At the same time, worker expectations around ongoing education, training, and career paths are also rising, so there’s a lot that customers and employers are having to do to adjust to this new reality,” he said.…
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Nareit's REIT Report Podcast
1 Episode 295: Farmland Real Estate Offers “Great Hedge” in Balanced Portfolios: Green Street 16:38
16:38 나중에 재생 나중에 재생 리스트 좋아요 좋아요16:38
나중에 재생 나중에 재생 리스트 좋아요 좋아요Farmland real estate is one of the nation’s largest commercial real estate sectors and its low risk and volatility profile makes it a “great hedge” within a balanced portfolio, says Pierre Rigaud, vice president, advisory and consulting, at Green Street. Speaking on the REIT Report, Rigaud noted that the farmland real estate sector is valued at $2-3 trillion. Institutional ownership in the sector is only about 1%, compared with 5-15% in most other real estate sectors. The two key crops in the sector are row crops and permanent crops, with row crops having a lower risk profile than permanent crops. Rigaud said farmland real estate and how it compares to other asset classes is not well understood by investors at this time. Some of the key attributes of farmland real estate include its lower obsolescence risk, lower fungibility risk, and lower capex burden. Population growth has outpaced the supply of arable land, Rigaud noted, resulting in land appreciation. As a result, “U.S. farmland has had a very strong track record of delivering relatively attractive returns over long holding periods.”…
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Nareit's REIT Report Podcast
1 Episode 294: Real Estate Fundamentals, Supported by GDP and Job Growth, Look “Very Favorable”: Portfolio Manager 20:54
20:54 나중에 재생 나중에 재생 리스트 좋아요 좋아요20:54
나중에 재생 나중에 재생 리스트 좋아요 좋아요The landscape for real estate fundamentals looks “very favorable” going forward, supported by GDP and employment growth, according to Lowell Bolken, portfolio manager of the Securian AM Real Asset Income Fund and Real Estate Securities Fund. “We think employment will be strong as job openings are still above the actual unemployed population right now,” Bolken told Nareit’s REIT Report. He noted that in terms of REIT valuations, it’s a mixed picture. However, “we're very confident where the economy is going in terms of real estate and other sectors…growth is still in the offing.” Bolken, meanwhile, noted that while inflation might not last longer term, “it's less than transitory.” As a result, Securian is positioning itself for short term inflation by focusing on assets with shorter term leases such as apartments, self-storage, and hotels, while de-emphasizing the net lease sector.…
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Nareit's REIT Report Podcast
1 Episode 293: REIT Veteran Jonathan Morris Offers Deep Dive into Industry with New REIT Academy Platform 17:47
17:47 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:47
나중에 재생 나중에 재생 리스트 좋아요 좋아요Jonathan Morris, adjunct professor in Georgetown University’s Master’s of Real Estate program and a former REIT executive, believes the continued success and evolution of the REIT industry highlights the need to enhance the level of understanding of the REIT structure and what makes it work so well. Speaking on the REIT Report, Morris said he has launched a new education platform, REIT Academy, to fill the void in executive and professional development education in the REIT industry. The inaugural program spans eight weeks, comprised of one evening per week for three hours of live instruction, as well as guest speakers from the industry. Morris said the program will give a student “pretty much everything you need to know to be able to understand any given REIT and come to your own conclusions, using the tools that you'll learn here to assess how to value the company.”…
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Nareit's REIT Report Podcast
1 Episode 292: Homeowners Should Broaden Investment Outlook to Include Commercial Real Estate 6:42
6:42 나중에 재생 나중에 재생 리스트 좋아요 좋아요6:42
나중에 재생 나중에 재생 리스트 좋아요 좋아요Investors who own their own homes may be taking a limited view of real estate investment, and in turn are missing out on the benefits of owning commercial real estate through REITs, according to Nicole Funari, Nareit vice president of research. Speaking on the REIT Report, Funari noted that oftentimes homeowners think they are already invested in real estate simply by owning their own home. While that is true, they also need to examine the differences between homeownership and owning commercial real estate, she said. “They think they are covered in their investment portfolio when we feel that, no, you really are missing out on the benefits of commercial real estate,” especially because a lot of homeowners don’t consider the breadth of commercial real estate asset classes, Funari said.…
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Nareit's REIT Report Podcast
1 Episode 291: REITs Convincingly Outperform Private Equity Real Estate Funds, Research Finds 24:57
24:57 나중에 재생 나중에 재생 리스트 좋아요 좋아요24:57
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs have convincingly outperformed private equity real estate funds in head-to-head matchups over a 20-year sample period from the first quarter of 2000 to the fourth quarter of 2019, according to Tom Arnold, a visiting scholar at the University of Florida’s Warrington College of Business. Speaking with the REIT Report, Arnold highlighted the results of new research, sponsored by Nareit, that he carried out with fellow academics David Ling and Andy Naranjo at the University of Florida. Arnold explained that one of the main takeaways from the research is that even with no risk adjustments, 53% of the time investors would have been better off in the REIT index during the period that the private equity real estate fund was investing. The mean out-performance was 165 basis points, or 1.65 percentage points, per year. With a conservative investment for relative risk, REITs outperformed nearly 70% of the time, and their outperformance grew from 165 basis points per year to almost 600 basis points per year.…
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Nareit's REIT Report Podcast
1 Episode 290: SPECIAL EPISODE: REITs Can Help Institutional Investors Gain Access to New Economy Property Sectors, Says Principal Real Estate Investors Portfolio Manager 10:57
10:57 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:57
나중에 재생 나중에 재생 리스트 좋아요 좋아요REITs can help provide access to the new economy sectors—such as cell towers, data centers, and networked logistics properties—that complement the traditional real estate property types, according to Todd Kellenberger, client portfolio manager, real estate securities at Principal Real Estate Investors. Kellenberger noted that the idea of using REITs to gain access to these new economy sectors as part of a portfolio completion strategy has garnered increased attention from institutional investor clients recently. Kellenberger joined guest host Meredith Despins, Nareit’s senior vice president, investment affairs, for a special edition of The REIT Report podcast to discuss the role REITs can play in building a successful 21st century real estate investment portfolio.…
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Nareit's REIT Report Podcast
1 Episode 289: Technology Changing Traditional Concepts of Industrial Real Estate 10:42
10:42 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:42
나중에 재생 나중에 재생 리스트 좋아요 좋아요As technological innovation results in more efficient supply chain distribution, changes are also occurring in traditional concepts of industrial real estate and where it should be located, says Steve Weikal, lecturer, researcher, and the CRE Tech lead in the MIT Real Estate Innovation Lab. “Certainly what the industry thinks of as industrial real estate, or warehouse distribution real estate, has changed and will continue to change,” Weikal said on the REIT Report podcast. “If we are able to use technology to provide distribution more efficiently, more effectively, and in smaller spaces, which is very often the case, can we now do that in structures and in buildings that we hadn't considered before?” Weikal said. The proliferation of specialized data has enabled the industry to determine “the kinds of buildings that we need, the shapes, the sizes, and especially where they need to be located in order to make the global distribution system more efficient,” Weikal noted.…
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Nareit's REIT Report Podcast
1 Episode 288: Korn Ferry Recruiter Sees “Unprecedented” Demand for Sustainability and ESG Talent 10:40
10:40 나중에 재생 나중에 재생 리스트 좋아요 좋아요10:40
나중에 재생 나중에 재생 리스트 좋아요 좋아요A global pandemic, major climate events, and a focus on social change have combined to create “unprecedented” demand for talent to fill sustainability and ESG positions, says Shelly Fust, co-leader for Korn Ferry’s global Sustainability and ESG Solutions Center of Expertise. Speaking on the REIT Report, Fust described sustainability and ESG as “a very big tent,” requiring talent from all sectors and all levels to fill the demand being created by this accelerating market. “There's so much momentum underway in this space. I believe truly that anyone who has the passion and interest in this sector can find a very rewarding career,” she added. Fust noted that corporate sustainability roles were really just being created about 15 years ago and were relatively thinly staffed at the top corporate level. “Many of those first chief sustainability executives are now preparing to retire. And as we're having to then magnify these roles across just about every organization, we’re finding that there's significantly more demand than there is talent,” Fust said.…
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Nareit's REIT Report Podcast
1 Episode 287: Recovery in Leisure Travel Segment Continues in Face of COVID Variant Concerns 15:24
15:24 나중에 재생 나중에 재생 리스트 좋아요 좋아요15:24
나중에 재생 나중에 재생 리스트 좋아요 좋아요The recovery in the leisure travel sector continues, despite concerns over new COVID-19 variants, while a similar trend in the business travel segment is yet to emerge, according to Jim Sullivan, managing director and REIT analyst at BTIG. Speaking on the REIT Report, Sullivan said that as of mid-August, “we have not seen any material decline. Traffic volume is holding up pretty well in the face of the Delta variant concerns.” Sullivan said Transportation Security Administration (TSA) data point to a “pretty consistently high” level of comfort in traveling, particularly for the leisure traveler. Recovery in the business sector is going to occur later, however. One reason the leisure market is seeing strong demand is the new flexibility provided to travelers who are able to work remotely, Sullivan noted.…
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Nareit's REIT Report Podcast
1 Episode 286: Conditions Healthy for Real Estate Investment, Global CIO Carly Tripp Says 9:37
9:37 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:37
나중에 재생 나중에 재생 리스트 좋아요 좋아요Conditions remain healthy for real estate investment, with inflation expected to be transitory and any increase in long-term interest rates likely to be modest, according to Carly Tripp, global chief investment officer and head of Nuveen Real Estate Investments. Speaking on the REIT Report, Tripp said that although inflation had been felt in terms of cost fluctuations for building materials, Nuveen’s view is that inflation is transitory. “Overall, we’re not concerned at this point and continue to see a recovery across the board with some of these supply/demand imbalances expected to rectify over the next two or three quarters.” Tripp noted that interest rates remain “extremely attractive,” despite expectations of rate rises for the past decade. While the Federal Reserve has indicated it has no plans to increase short term rates anytime soon, long term rates, which are dependent on the market, are not posing a problem either, she added.…
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Nareit's REIT Report Podcast
1 Episode 285: REIT M&A Activity Underscores Resiliency of Real Estate, Deloitte Says 11:59
11:59 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:59
나중에 재생 나중에 재생 리스트 좋아요 좋아요Recent REIT M&A activity underscores the resiliency of the real estate sector and more transactions are likely this year as conditions remain favorable for continued deal-making, experts at Deloitte say. Lynn Kawaminami, partner at Deloitte Tax, and Nathan Florio, principal at Deloitte Transactions and Business Analytics, spoke to the REIT Report on July 20. “All the activity that we’ve seen this year has really underscored the resiliency of real estate…even the sectors that struggled last year are starting to come back,” Kawaminami said. “The fundamentals are good, and I think we’re ready to get back to normal.”…
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Nareit's REIT Report Podcast
1 Episode 284: Mass Transit Reliance Playing Key Role in Office Re-Population 17:44
17:44 나중에 재생 나중에 재생 리스트 좋아요 좋아요17:44
나중에 재생 나중에 재생 리스트 좋아요 좋아요Reliance on mass transit is playing a key role in determining the pace at which office markets across the country re-populate, says Julie Whelan, head of occupier research for the Americas at CBRE. Speaking on the REIT Report, Whelan noted that Texas is currently experiencing probably the largest return to the office, despite vaccination rates in some parts of the state lagging the national average. Other markets, such as California and New York, have higher vaccination rates but are returning to the office more slowly because of mass transit dependance, she added. More focus needs to be placed on getting people comfortable on mass transit again and getting it back to normal schedules and routes. “It’s an essential piece of getting people back to work,” she said. Until that happens, “reduced ridership is really only going to sustain that reduced occupancy in buildings that we’re seeing.” Whelan said best estimates point to current office occupancy at only a third of what was considered normal pre-pandemic. That is expected to change in the fall, however, as “the leisure of summer is going to abate and we’re going to get back into that normal routine.”…
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Nareit's REIT Report Podcast
1 Episode 283: Real Estate Deal Activity Accelerating in Sectors with Strong Macro Tailwinds 8:00
8:00 나중에 재생 나중에 재생 리스트 좋아요 좋아요8:00
나중에 재생 나중에 재생 리스트 좋아요 좋아요Real estate deal activity is accelerating in sectors with strong macro tailwinds, along with increased confidence in the public markets toward valuations, according to Tim Bodner, partner and U.S. real estate deals leader at PwC. Speaking on the REIT Report, Bodner said property sectors including logistics, multifamily, and life science have all seen increased deal flow. Office assets located in technology-oriented cities have also seen increased activity, while the leisure and hospitality sectors have also experienced a rise in transactions. “There continues to be an incredible amount of capital on the sidelines” on both the debt and equity side, Bodner said. He also pointed to an “incredible amount” of capital being raised by public non-listed REITs, which topped $3 billion in May.…
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Nareit's REIT Report Podcast
1 Episode 282: U.S. REITs Have Moved Past COVID “Very Distinctly”: Green Street 11:31
11:31 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:31
나중에 재생 나중에 재생 리스트 좋아요 좋아요Fundamentals for U.S. REITs have moved beyond COVID-19 “very distinctly,” with market rent growth, occupancy gains, and cash flow rebound evident across a range of sectors within the industry, according to Cedrik Lachance, director of global REIT research at Green Street. Lachance, who assumes his new role as Green Street’s director of research on July 1st, spoke on the REIT Report. From a GDP perspective, 2021 is a “year of rebound,” Lachance said. He noted that manufactured homes and industrial real estate are two sectors that Green Street believes will have the best combination of market rent growth and occupancy gains over the next five years. From a cash flow perspective, a significant rebound is also occurring in sectors that were negatively affected during the pandemic, including senior housing and lodging, Lachance said. At the same time, he pointed to “very attractive sustainable growth” for the next few years in sectors such as apartments and student housing. A number of other sectors should experience net operating income (NOI) growth in the 4-5% range for the next couple of years, he said. Turning to M&A activity, Lachance noted that, particularly in the public markets, deals have tended to occur between companies with a disparity in the cost of capital. Those deals “make a ton of sense,” he said. Going forward, M&A activity is most likely to occur between companies that have notable similarities but a relative difference in their cost of capital, he noted. As for the future of office, Lachance said that Green Street views work from home “as really the defining story of the real estate world in the pandemic,” and one where the influence extends to a range of other real estate sectors including residential, hotels, and suburban shopping centers. Lachance said the lack of clarity into the future of the office sector will likely last for another 12 months, but “when it’s all said and done, you’ll have about a 15% drop in office demand.” Lachance also commented on trends in European real estate, including the growth of non-traditional sectors. As for broader trends, he noted that Green Street firmly believes that public markets will remain an area of growth for REITs. Lachance also commented on the inflation hedge benefits of real estate.…
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Nareit's REIT Report Podcast
1 Episode 281: High-Quality New York Office Real Estate Assets Continuing to Attract Investment 9:24
9:24 나중에 재생 나중에 재생 리스트 좋아요 좋아요9:24
나중에 재생 나중에 재생 리스트 좋아요 좋아요High-quality office real estate in New York continued to attract investor interest throughout the pandemic, and the office market overall is “certainly improving,” according to Nadir Settles, head of New York office investment at Nuveen Real Estate. Speaking on the REIT Report, Settles noted that while there hasn’t been a lot of price discovery during the past year, the few transactions that did occur, notably for high-quality assets, did well. “Investors showed that they are willing to come to New York for the right product, even if it was office,” he said. Settles said the New York office market has seen about a 10% drop in rents, “which is not bad for where we thought we were going.” Tenant improvements have increased substantially, while concessions have been made to attract tenants, he noted. Tenants are ready to commit quicker on turnkey space, he said, but they also want flexibility on how the deal is structured.…
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Nareit's REIT Report Podcast
1 Episode 280: SPECIAL EPISODE: Robert L. Johnson Shares His Philosophy on Leadership in Business and the Black Community 40:09
40:09 나중에 재생 나중에 재생 리스트 좋아요 좋아요40:09
나중에 재생 나중에 재생 리스트 좋아요 좋아요In a REIT Report podcast interview, Robert L. Johnson discusses his early career, his business strategy, and his insights regarding race in America. Johnson is the founder and chairman of The RLJ Companies, LLC, which sponsored the formation of RLJ Lodging Trust (NYSE: RLJ), and the founder of Black Entertainment Television (BET). During the interview with Nathaalie Carey, Nareit senior vice president for industry affairs and social responsibility, Johnson discusses his coming of age at a time when the United States was “opening doors to Black Americans,” and his underlying belief that “you have an obligation to live up to the tenets of society to make the whole community better."…
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Nareit's REIT Report Podcast
1 Episode 279: REIT ESG Data Improving in Quantity and Quality, But Standardization Issues Remain 7:31
7:31 나중에 재생 나중에 재생 리스트 좋아요 좋아요7:31
나중에 재생 나중에 재생 리스트 좋아요 좋아요REIT industry ESG data continues to improve both in quality and quantity, yet the lack of standardization remains a challenge, according to Bradford Stoesser, senior managing director and global industry analyst at Wellington Management. In a REIT Report interview, Stoesser said REIT ESG data is “markedly better than even just a few years ago.” “We are starting to see a proliferation of data providers and while more ESG data is a positive, quality and standardization are important, allowing for effective comparisons,” Stoesser said. He noted that companies largely self-report, meaning that transparency is often lacking. Data providers, meanwhile, measure ESG differently and often are not clear in terms of the specific subcategories of E, S and G, and how they are measured, Stoesser explained. “The risk is that investors end up with very different impressions of a corporate’s ESG (information) based on the data they source,” he said.…
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Nareit's REIT Report Podcast
1 Episode 278: Industry Experts Publish First Academically-Focused Textbook on REIT Investment 11:29
11:29 나중에 재생 나중에 재생 리스트 좋아요 좋아요11:29
나중에 재생 나중에 재생 리스트 좋아요 좋아요The authors of a new book on REITs and real estate investment, Educated REIT Investing, say it is the first of its kind to target academic institutions, while still being concise enough to attract a general audience. The book is co-authored by Stephanie Krewson-Kelly, vice president of investor relations at Corporate Office Educated REIT InvestingProperties Trust (NYSE: OFC), and Glenn Mueller, a professor at the University of Denver’s Franklin L. Burns School of Real Estate and Construction Management, and a real estate investment strategist at Black Creek Group. The book updates Krewson-Kelly’s 2016 book, The Intelligent REIT Investor, and includes new chapters by Mueller. Nareit Senior Economist Calvin Schnure and Merrie Frankel, president of Minerva Realty Consultants, also contributed to the book.…
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Nareit's REIT Report Podcast
1 Episode 277: Safehold CEO Says Strong Rent Coverage, New Credit Ratings Position REIT for Growth 5:38
5:38 나중에 재생 나중에 재생 리스트 좋아요 좋아요5:38
나중에 재생 나중에 재생 리스트 좋아요 좋아요With 100% of its ground lease rents paid in 2020 and newly-received investment grade credit ratings, Safehold Inc. (NYSE: SAFE) Chairman and CEO Jay Sugarman says the REIT is “really well positioned to keep growing.” Speaking on the REIT Report, Sugarman noted that despite the challenges of 2020, “last year actually proved how strong the business is.” Meanwhile, new ratings from Moody’s Investors Services and Fitch Ratings “will be a pretty major competitive advantage,” he added. Sugarman noted that when it comes to selecting particular property types, “our mission is to go where the best markets and land is.” Multifamily has been a “great story so far,” and represents about 25% of the portfolio, he said. “I imagine we’ll be in all property types in the top 30 markets in the next year or so.”…
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Nareit's REIT Report Podcast
1 Episode 276: Clubhouse Emerging as New Social Media Platform for Real Estate Sector Education & Networking 20:49
20:49 나중에 재생 나중에 재생 리스트 좋아요 좋아요20:49
나중에 재생 나중에 재생 리스트 좋아요 좋아요Social media site Clubhouse is emerging as a new and innovative way to facilitate education about commercial real estate and to provide networking opportunities for individuals across the industry, according to David Auerbach, an institutional trader at World Equity Group, Inc. Clubhouse is an invitation-only iPhone social media app launched in 2020 that enables users to join live audio discussions on a range of topics hosted in ‘rooms’ on the Clubhouse platform. Participants can enter the various rooms as an audience member and can join the conversation by digitally raising their hand to the host. Speaking on the REIT Report, Auerbach discussed his own involvement with Clubhouse, which includes hosting daily discussions on a variety of REIT and real estate-related topics with his partner, Yoni Miller.…
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Nareit's REIT Report Podcast
1 Episode 275: REIT Recovery From the Worst of the Pandemic Underway, Nareit T-Tracker Shows 6:30
6:30 나중에 재생 나중에 재생 리스트 좋아요 좋아요6:30
나중에 재생 나중에 재생 리스트 좋아요 좋아요Nareit’s T-Tracker fourth quarter 2020 data indicate that the REIT industry is recovering from its weakest levels seen during the pandemic. Speaking on the REIT Report, Nareit Senior Economist Calvin Schnure said the REIT industry is “showing a good continuing recovery, not a complete recovery, but a recovery from the worst part of the pandemic a year ago.” According to the T-Tracker, funds from operations (FFO) of all equity REITs gained 11.3% in the fourth quarter from the third quarter, which itself was 10.3% higher than the second quarter. The recovery is not uniform, Schnure pointed out. Earnings for sectors at the front line of the shutdown, such as lodging and retail, continue to be quite weak. Other sectors have benefitted, namely those that support the digital economy, as well as industrial.…
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Nareit's REIT Report Podcast
1 Episode 274: TIGER 21 Founder Says Performance Differences Across Real Estate Have Never Been Greater 23:41
23:41 나중에 재생 나중에 재생 리스트 좋아요 좋아요23:41
나중에 재생 나중에 재생 리스트 좋아요 좋아요Differences in how real estate sectors perform have never been as “profound” as they are today, according to Michael Sonnenfeldt, founder and chairman of TIGER 21, a peer membership organization of high net worth current and former entrepreneurs, investors, and top executives. TIGER 21 members collectively manage personal assets of over $85 billion. Speaking on the REIT Report, Sonnenfeldt described the current situation in real estate as a “tale of two cities,” with retail “in a difficult strait” and industrial “on fire.” Sonnenfeldt explained that real estate has been the number one asset allocation for TIGER 21 members since the group was founded in 1999—and is likely to stay that way. Currently, real estate accounts for 27% of TIGER 21 portfolios and is favored by members due to its unique benefits and member expertise in the field, he said.…
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