10/14/2009

Investors will continue to have a healthy appetite for REIT secondary equity offerings, which will support the prices of the shares, according to Jackson Hsieh, managing director and global head of real estate, lodging and leisure at UBS Investment Bank. "Public real estate will continue to trade at a premium and have access to capital, and this virtuous cycle will continue until the debt picture gets fixed in the
United States," Hsieh said. He noted the market capitalization of the U.S. REIT industry had doubled to approximately $200 billion since March but still was well below the $420 billion industry peak in February 2007.

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