Total returns for the FTSE Nareit All Equity Index clocked in at 5.53% for March and 8.32% for the first quarter. "We are seeing what are increasingly positive signs about the months ahead in terms of economic activity," says Nareit's John Worth.
Debra Cafaro of Ventas, Hamid Moghadam of Prologis, Barry Sternlicht of Starwood Capital Group and Sam Zell of Equity Group Investments discussed topics ranging from the future of the economy to which asset classes are poised to excel during the recovery during a conference organized by the Schack Institute of Real Estate at New York University.
Ryman Hospitality Properties has announced a July 1 reopening date for its Gaylord National Resort & Convention Center in National Harbor in the Washington, D.C., area. While the 1,996-room hotel was closed, Ryman pursued a $64 million room-renovation project.
W.P. Carey is investing in a three-asset 424,800-square-foot hypermarket portfolio in France as part of a $119 million sale-leaseback transaction. "We are thrilled to continue our positive momentum in Europe with the completion of another off-market grocery retail sale-leaseback, an asset class which has proven its resilience during the COVID-19 pandemic," says W.P. Carey's Christopher Mertlitz.
American Homes 4 Rent has acquired two land parcels in the Tampa Bay area for a total of about $28.9 million. Plans call for a total of 525 single-family home across the two parcels.
The pandemic has created surging demand for suburban houses, giving homeowners the opportunity to sell at a profit and move into urban apartments. In some cases, the moves are spurred by a desire to experience city life, avoid home-renovation projects or shorten travel time.
REITs are increasingly focused on climate risk, in some cases using data and analytics tools to address the issue amid stakeholders' calls for more detailed information. Leaders from AvalonBay Communities, Hudson Pacific Properties and Kimco Realty discuss their approach, touching on topics such as technology, insurance and performance improvement.
A.J. Jackson, who leads JBG SMITH's Washington Housing Initiative, discusses his work as well as the importance of the program and its goals in this Q&A. "We are trying to serve people who earn too much for traditional affordable housing programs, but not enough to afford housing that's well located near other necessities of life," Jackson says.
REITs have typically performed well during periods of high inflation, so investors don't necessarily need to be concerned even if prices rise faster than policymakers expect, writes Brad Thomas. In 1979 -- a year of very high inflation -- total REIT returns reached 24.4%, Thomas notes, citing Nareit and the Wharton School of Business.
During a recent panel discussion hosted by the NYU School of Professional Studies Schack Institute of Real Estate, executives discussed a wide range of topics ranging from operational performance to diversity and social justice issues. Participants included Boston Properties CEO Owen Thomas, Medical Properties Trust Chair Edward Aldag, Public Storage Chair Ron Havner and Mary Hogan Preusse, who sits on the board of four REITs.
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