Joe Smith, managing director of ING Clarion Real Estate Securities LP and portfolio manager of two real estate funds, is bullish on mall and health care REITs. "Cash flows [from malls and health care centers] are a little bit more durable in this current cycle," he said. Malls tend to have tenants locked into long-term leases, which improves cash flow, while demand for nursing homes, doctors, medical office buildings and senior housing facilities is bolstering the health care side.

Related Summaries