USAA Real Estate's US Industrial REIT III has acquired a 469,830-square-foot distribution center in Jacksonville, Fla. It is part of the company's plan to acquire investment-grade facilities in high-growth markets.
CapitaMalls Malaysia's trading on its first day was a disappointment, with the stock dropping 2%. Concern
that slowing economic growth might depress rents at the REIT's three retail centers was the likely reason for the decline.
In general, REITs are well positioned to ride out what will be a tough period in the commercial real estate business, says Joel Beam, lead portfolio manager with Forward Management. But he leans toward investing in preferred REIT stocks and REIT bonds over common shares. "We find preferred stock and bonds to be attractive because there is a substantial income component to the return," he says.