Low borrowing costs, rising values drive REIT M&As

03/16/2011 | Wall Street Journal, The

Portfolio managers are targeting real estate investment trusts for possible acquisition, especially those that are trading at discounts to their net asset values or that have small market caps. The still historically low interest rates available for financing, along with rising valuations, are driving these deals. "We think more transactions are in the cards in 2011," says Jay Leupp, a REIT portfolio manager at Grubb & Ellis.

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