The re-equitization of the REIT industry now under way is likely to continue through the end of this year and well into 2010, said Steven Marks, managing director with Fitch Ratings. The first round of successful capital raising, this year, was accomplished by REITs that needed to bring in new equity to pay down debt, he said. If the unsecured bond markets remain inhospitable and asset sales continue to be weak, REITs are likely to continue to go into the capital markets for additional equity, he said.

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