Nareit's REIT Report Podcast
316 episodes - English - Latest episode: 6 days ago - ★★★★ - 34 ratingsA show about the latest news and developments in REITs and real estate investment.
Homepage Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episodes
Episode 301: REIT Industry Seeing Ample Capital, Rising Rents, & Elevated Asset Values at Year-End
December 16, 2021 00:00 - 11 minutes - 16 MBThe REIT industry is closing out 2021 in a position of strength, with ample financing available, brisk merger and acquisition activity, high and rising rents, and elevated asset levels, according to Evan Hudson, partner and real estate capital markets legal expert at Stroock. “The credit markets are incredibly active, they’re liquid, they’re deep,” Hudson said. He noted that in addition to common and preferred equity deals, largely through at-the-market (ATM) offerings, his firm is...
Episode 300: Economy on Sound Footing Entering 2022, Providing Solid Backdrop for REIT Performance
December 10, 2021 00:00 - 7 minutes - 10.2 MBThe economy will enter 2022 on a firm footing and should be able to withstand a variety of challenges that have emerged in recent months, providing a backdrop for continued solid REIT performance, says Nareit Senior Economist Calvin Schnure. Schnure noted that the economic mood has shifted over the last couple of months, reflecting the new Omicron COVID-19 variant, supply chain issues, price spikes, and labor shortages, among other issues. “Overall, though, the economy is quite so...
Episode 299: REIT M&A Boosted by Price Recovery, Attractive Financing, & Renewed Activist Pressure
November 17, 2021 00:00 - 7 minutes - 10.1 MBTotal REIT M&A activity through the third quarter of 2021 has already surpassed levels seen in 2019 and 2020, boosted by price recovery, attractive financing, and renewed pressure from activist investors, says Blake Liggio, partner in the real estate industry group of global law firm Goodwin. “Pricing for deals has improved coming out of the pricing troughs that we saw in many sectors during the pandemic… over the last two years it has been more challenging for boards to justify a ...
Episode 298: Pebblebrook CEO Says Lodging Sector Showing a Varied Recovery Path
November 05, 2021 00:00 - 12 minutes - 17.8 MBThe hotel and lodging sector is showing a varied recovery, as it outperforms 2019 levels in some areas but struggles in others, according to Pebblebrook Hotel Trust (NYSE: PEB) Chairman, President, and CEO Jon Bortz. Speaking on Nareit’s REIT Report, Bortz noted that strength in the market has tended to be concentrated in resorts, particularly drive-to resorts, which are often achieving higher occupancy and rates than seen in 2019. The struggles, on the other hand, have mainly bee...
Episode 297: Real Estate Industry Must Tackle Carbon Reduction Collectively or Face Government Mandate
November 02, 2021 00:00 - 13 minutes - 18.3 MBThe real estate industry needs to collaborate and embrace technology as it works to reduce carbon emissions or else face having external mandates forced upon it, says Peter Gajdoš, a partner at venture capital firm Fifth Wall. Speaking on the Nareit REIT Report, Gajdoš, who co-leads Fifth Wall’s climate technology investment team, noted that although tackling carbon emissions will take decades, the real estate industry should see it not as a threat but as an opportunity to cooperat...
Episode 296: Prologis Addressing Heightened Need for Logistics Labor and Talent
October 27, 2021 00:00 - 7 minutes - 9.87 MBIncreased customer demand for logistics labor, combined with rising worker expectations around training and career opportunities, has led Prologis, Inc. (NYSE: PLD) to expand its logistics training program to six major logistics hubs, with plans to add programs in nine additional national markets by the end of 2021. Speaking on Nareit’s REIT Report, Steven Hussain, vice president of workforce programs and community relations at Prologis, explained that the REIT’s Community Workforc...
Episode 295: Farmland Real Estate Offers “Great Hedge” in Balanced Portfolios: Green Street
October 22, 2021 00:00 - 16 minutes - 22.8 MBFarmland real estate is one of the nation’s largest commercial real estate sectors and its low risk and volatility profile makes it a “great hedge” within a balanced portfolio, says Pierre Rigaud, vice president, advisory and consulting, at Green Street. Speaking on the REIT Report, Rigaud noted that the farmland real estate sector is valued at $2-3 trillion. Institutional ownership in the sector is only about 1%, compared with 5-15% in most other real estate sectors. The two key c...
Episode 294: Real Estate Fundamentals, Supported by GDP and Job Growth, Look “Very Favorable”: Portfolio Manager
October 19, 2021 00:00 - 20 minutes - 28.7 MBThe landscape for real estate fundamentals looks “very favorable” going forward, supported by GDP and employment growth, according to Lowell Bolken, portfolio manager of the Securian AM Real Asset Income Fund and Real Estate Securities Fund. “We think employment will be strong as job openings are still above the actual unemployed population right now,” Bolken told Nareit’s REIT Report. He noted that in terms of REIT valuations, it’s a mixed picture. However, “we're very confident ...
Episode 293: REIT Veteran Jonathan Morris Offers Deep Dive into Industry with New REIT Academy Platform
October 14, 2021 00:00 - 17 minutes - 24.4 MBJonathan Morris, adjunct professor in Georgetown University’s Master’s of Real Estate program and a former REIT executive, believes the continued success and evolution of the REIT industry highlights the need to enhance the level of understanding of the REIT structure and what makes it work so well. Speaking on the REIT Report, Morris said he has launched a new education platform, REIT Academy, to fill the void in executive and professional development education in the REIT industr...
Episode 292: Homeowners Should Broaden Investment Outlook to Include Commercial Real Estate
October 08, 2021 00:00 - 6 minutes - 9.22 MBInvestors who own their own homes may be taking a limited view of real estate investment, and in turn are missing out on the benefits of owning commercial real estate through REITs, according to Nicole Funari, Nareit vice president of research. Speaking on the REIT Report, Funari noted that oftentimes homeowners think they are already invested in real estate simply by owning their own home. While that is true, they also need to examine the differences between homeownership and owni...
Episode 291: REITs Convincingly Outperform Private Equity Real Estate Funds, Research Finds
September 20, 2021 00:00 - 24 minutes - 34.3 MBREITs have convincingly outperformed private equity real estate funds in head-to-head matchups over a 20-year sample period from the first quarter of 2000 to the fourth quarter of 2019, according to Tom Arnold, a visiting scholar at the University of Florida’s Warrington College of Business. Speaking with the REIT Report, Arnold highlighted the results of new research, sponsored by Nareit, that he carried out with fellow academics David Ling and Andy Naranjo at the University of F...
Episode 290: SPECIAL EPISODE: REITs Can Help Institutional Investors Gain Access to New Economy Property Sectors, Says Principal Real Estate Investors Portfolio Manager
September 14, 2021 00:00 - 10 minutes - 15 MBREITs can help provide access to the new economy sectors—such as cell towers, data centers, and networked logistics properties—that complement the traditional real estate property types, according to Todd Kellenberger, client portfolio manager, real estate securities at Principal Real Estate Investors. Kellenberger noted that the idea of using REITs to gain access to these new economy sectors as part of a portfolio completion strategy has garnered increased attention from institut...
Episode 289: Technology Changing Traditional Concepts of Industrial Real Estate
September 07, 2021 00:00 - 10 minutes - 14.7 MBAs technological innovation results in more efficient supply chain distribution, changes are also occurring in traditional concepts of industrial real estate and where it should be located, says Steve Weikal, lecturer, researcher, and the CRE Tech lead in the MIT Real Estate Innovation Lab. “Certainly what the industry thinks of as industrial real estate, or warehouse distribution real estate, has changed and will continue to change,” Weikal said on the REIT Report podcast. “If we...
Episode 288: Korn Ferry Recruiter Sees “Unprecedented” Demand for Sustainability and ESG Talent
August 23, 2021 00:00 - 10 minutes - 14.7 MBA global pandemic, major climate events, and a focus on social change have combined to create “unprecedented” demand for talent to fill sustainability and ESG positions, says Shelly Fust, co-leader for Korn Ferry’s global Sustainability and ESG Solutions Center of Expertise. Speaking on the REIT Report, Fust described sustainability and ESG as “a very big tent,” requiring talent from all sectors and all levels to fill the demand being created by this accelerating market. “There's s...
Episode 287: Recovery in Leisure Travel Segment Continues in Face of COVID Variant Concerns
August 18, 2021 00:00 - 15 minutes - 21.1 MBThe recovery in the leisure travel sector continues, despite concerns over new COVID-19 variants, while a similar trend in the business travel segment is yet to emerge, according to Jim Sullivan, managing director and REIT analyst at BTIG. Speaking on the REIT Report, Sullivan said that as of mid-August, “we have not seen any material decline. Traffic volume is holding up pretty well in the face of the Delta variant concerns.” Sullivan said Transportation Security Administration (...
Episode 286: Conditions Healthy for Real Estate Investment, Global CIO Carly Tripp Says
August 02, 2021 00:00 - 9 minutes - 13.2 MBConditions remain healthy for real estate investment, with inflation expected to be transitory and any increase in long-term interest rates likely to be modest, according to Carly Tripp, global chief investment officer and head of Nuveen Real Estate Investments. Speaking on the REIT Report, Tripp said that although inflation had been felt in terms of cost fluctuations for building materials, Nuveen’s view is that inflation is transitory. “Overall, we’re not concerned at this point ...
Episode 285: REIT M&A Activity Underscores Resiliency of Real Estate, Deloitte Says
July 22, 2021 00:00 - 11 minutes - 16.5 MBRecent REIT M&A activity underscores the resiliency of the real estate sector and more transactions are likely this year as conditions remain favorable for continued deal-making, experts at Deloitte say. Lynn Kawaminami, partner at Deloitte Tax, and Nathan Florio, principal at Deloitte Transactions and Business Analytics, spoke to the REIT Report on July 20. “All the activity that we’ve seen this year has really underscored the resiliency of real estate…even the sectors that strug...
Episode 284: Mass Transit Reliance Playing Key Role in Office Re-Population
July 13, 2021 00:00 - 17 minutes - 24.3 MBReliance on mass transit is playing a key role in determining the pace at which office markets across the country re-populate, says Julie Whelan, head of occupier research for the Americas at CBRE. Speaking on the REIT Report, Whelan noted that Texas is currently experiencing probably the largest return to the office, despite vaccination rates in some parts of the state lagging the national average. Other markets, such as California and New York, have higher vaccination rates but a...
Episode 283: Real Estate Deal Activity Accelerating in Sectors with Strong Macro Tailwinds
July 07, 2021 00:00 - 7 minutes - 11 MBReal estate deal activity is accelerating in sectors with strong macro tailwinds, along with increased confidence in the public markets toward valuations, according to Tim Bodner, partner and U.S. real estate deals leader at PwC. Speaking on the REIT Report, Bodner said property sectors including logistics, multifamily, and life science have all seen increased deal flow. Office assets located in technology-oriented cities have also seen increased activity, while the leisure and hos...
Episode 282: U.S. REITs Have Moved Past COVID “Very Distinctly”: Green Street
June 28, 2021 00:00 - 11 minutes - 15.8 MBFundamentals for U.S. REITs have moved beyond COVID-19 “very distinctly,” with market rent growth, occupancy gains, and cash flow rebound evident across a range of sectors within the industry, according to Cedrik Lachance, director of global REIT research at Green Street. Lachance, who assumes his new role as Green Street’s director of research on July 1st, spoke on the REIT Report. From a GDP perspective, 2021 is a “year of rebound,” Lachance said. He noted that manufactured homes...
Episode 281: High-Quality New York Office Real Estate Assets Continuing to Attract Investment
June 07, 2021 00:00 - 9 minutes - 12.9 MBHigh-quality office real estate in New York continued to attract investor interest throughout the pandemic, and the office market overall is “certainly improving,” according to Nadir Settles, head of New York office investment at Nuveen Real Estate. Speaking on the REIT Report, Settles noted that while there hasn’t been a lot of price discovery during the past year, the few transactions that did occur, notably for high-quality assets, did well. “Investors showed that they are willin...
Episode 280: SPECIAL EPISODE: Robert L. Johnson Shares His Philosophy on Leadership in Business and the Black Community
May 27, 2021 00:00 - 40 minutes - 55.1 MBIn a REIT Report podcast interview, Robert L. Johnson discusses his early career, his business strategy, and his insights regarding race in America. Johnson is the founder and chairman of The RLJ Companies, LLC, which sponsored the formation of RLJ Lodging Trust (NYSE: RLJ), and the founder of Black Entertainment Television (BET). During the interview with Nathaalie Carey, Nareit senior vice president for industry affairs and social responsibility, Johnson discusses his coming of ag...
Episode 279: REIT ESG Data Improving in Quantity and Quality, But Standardization Issues Remain
May 26, 2021 00:00 - 7 minutes - 10.3 MBREIT industry ESG data continues to improve both in quality and quantity, yet the lack of standardization remains a challenge, according to Bradford Stoesser, senior managing director and global industry analyst at Wellington Management. In a REIT Report interview, Stoesser said REIT ESG data is “markedly better than even just a few years ago.” “We are starting to see a proliferation of data providers and while more ESG data is a positive, quality and standardization are important,...
Episode 278: Industry Experts Publish First Academically-Focused Textbook on REIT Investment
April 23, 2021 00:00 - 11 minutes - 15.8 MBThe authors of a new book on REITs and real estate investment, Educated REIT Investing, say it is the first of its kind to target academic institutions, while still being concise enough to attract a general audience. The book is co-authored by Stephanie Krewson-Kelly, vice president of investor relations at Corporate Office Educated REIT InvestingProperties Trust (NYSE: OFC), and Glenn Mueller, a professor at the University of Denver’s Franklin L. Burns School of Real Estate and Con...
Episode 277: Safehold CEO Says Strong Rent Coverage, New Credit Ratings Position REIT for Growth
April 16, 2021 00:00 - 5 minutes - 7.75 MBWith 100% of its ground lease rents paid in 2020 and newly-received investment grade credit ratings, Safehold Inc. (NYSE: SAFE) Chairman and CEO Jay Sugarman says the REIT is “really well positioned to keep growing.” Speaking on the REIT Report, Sugarman noted that despite the challenges of 2020, “last year actually proved how strong the business is.” Meanwhile, new ratings from Moody’s Investors Services and Fitch Ratings “will be a pretty major competitive advantage,” he added. S...
Episode 276: Clubhouse Emerging as New Social Media Platform for Real Estate Sector Education & Networking
March 19, 2021 00:00 - 20 minutes - 28.6 MBSocial media site Clubhouse is emerging as a new and innovative way to facilitate education about commercial real estate and to provide networking opportunities for individuals across the industry, according to David Auerbach, an institutional trader at World Equity Group, Inc. Clubhouse is an invitation-only iPhone social media app launched in 2020 that enables users to join live audio discussions on a range of topics hosted in ‘rooms’ on the Clubhouse platform. Participants can en...
Episode 275: REIT Recovery From the Worst of the Pandemic Underway, Nareit T-Tracker Shows
March 15, 2021 00:00 - 6 minutes - 8.93 MBNareit’s T-Tracker fourth quarter 2020 data indicate that the REIT industry is recovering from its weakest levels seen during the pandemic. Speaking on the REIT Report, Nareit Senior Economist Calvin Schnure said the REIT industry is “showing a good continuing recovery, not a complete recovery, but a recovery from the worst part of the pandemic a year ago.” According to the T-Tracker, funds from operations (FFO) of all equity REITs gained 11.3% in the fourth quarter from the third ...
Episode 274: TIGER 21 Founder Says Performance Differences Across Real Estate Have Never Been Greater
March 12, 2021 00:00 - 23 minutes - 32.5 MBDifferences in how real estate sectors perform have never been as “profound” as they are today, according to Michael Sonnenfeldt, founder and chairman of TIGER 21, a peer membership organization of high net worth current and former entrepreneurs, investors, and top executives. TIGER 21 members collectively manage personal assets of over $85 billion. Speaking on the REIT Report, Sonnenfeldt described the current situation in real estate as a “tale of two cities,” with retail “in a d...
Episode 273: SPECIAL EPISODE: Pension Consultant Sees Growing Interest in Portfolio Completion Strategies Using REITs
March 08, 2021 00:00 - 13 minutes - 18 MBMatt Ritter, senior research consultant for NEPC, joined guest host Meredith Despins, Nareit senior vice president, investment affairs, for a special edition of The REIT Report podcast to discuss how REIT-based investment can deliver access to a 21st century real estate portfolio. NEPC is an independent investment consultant and private wealth advisor. Its clients—including public pensions, corporate pensions, endowments, foundations, health care groups, and private wealth—collectiv...
Episode 272: Data Centers in Leadership Position on Climate Change
March 05, 2021 00:00 - 7 minutes - 10.9 MBThe data center industry holds a leadership position on climate change issues as technological advances create greater efficiencies while economies of scale result in a lower energy profile, according to Kyle Myers, senior director of environmental health, safety, and sustainability at CyrusOne, Inc. (Nasdaq: CONE). Speaking on the REIT Report, Myers pointed to estimates that 1-3% of the entire power consumed on earth is consumed within data centers. CyrusOne has set a goal of reac...
Episode 271: SPECIAL EPISODE: Past Segregation Policies Continue to Weigh on Black Community Today, Author Says
March 01, 2021 00:00 - 54 minutes - 74.6 MBPast racially-explicit policies by federal, state, and local governments—especially those concerning housing—imposed a level of segregation on the United States that was so powerful it still determines the racial landscape of today, according to Richard Rothstein, author of The Color of Law: A Forgotten History of How Our Government Segregated America. Rothstein is also a distinguished fellow of the Economic Policy Institute and a senior fellow (emeritus) at the Thurgood Marshall In...
Episode 270: REITs Expected to Take Keener Interest in SPAC Structure Going Forward
February 15, 2021 00:00 - 18 minutes - 26 MBFollowing a breakout year for special purpose acquisition companies (SPACs) in 2020, activity is forecast to remain brisk in 2021, with REITs expected to take a keener interest in the structure, according to Jocelyn Arel and Audrey Leigh, partners at Goodwin. SPACs are a pool of capital formed through an initial public offering (IPO). SPAC sponsors go through the traditional IPO process, complete with Securities and Exchange Commission (SEC) review and roadshows, Arel, a partner in ...
Episode 269: GDP in Q4 Highlights Pandemic’s Continued Impact on Services Sector
February 01, 2021 00:00 - 4 minutes - 6.66 MBFourth quarter GDP data released by the Bureau of Economic Analysis underscores the continued pressure facing the services sector, although a surge in spending is likely once vaccines bring the pandemic under control, Nareit Senior Economist Calvin Schnure says. Speaking on the REIT Report, Schnure noted that GDP growth in the fourth quarter of 2020 slowed to a 4.0% annual rate after a record 33% in the third quarter. Some slowing was inevitable, Schnure said. He noted that a large...
Episode 268: Recovery for Economy and Commercial Real Estate Backloaded to Second Half of 2021
January 22, 2021 00:00 - 5 minutes - 6.92 MBWhile an economic recovery is expected to take hold, benefitting commercial real estate in its wake, any significant improvement is likely to occur starting in the second half of 2021, according to Nareit Senior Economist Calvin Schnure. Speaking on the REIT report, Schnure highlighted some of the key themes of Nareit’s 2021 Outlook for REITs and Commercial Real Estate. Schnure noted that “we’re going to see some strengthening of the economic recovery and that’s going to benefit th...
Episode 267: INDUS Realty CEO Sees Growing Demand as Supply Chains Adjust and Economy Continues to Grow
January 19, 2021 00:00 - 16 minutes - 23.3 MBINDUS Realty Trust, Inc. (Nasdaq: INDT) President and CEO Michael Gamzon says the REIT’s focus on logistics real estate in high growth, supply-constrained markets with multiple drivers of demand positions the company well to respond to changes in supply chain strategies. INDUS recently elected REIT status and changed its name from Griffin Industrial Realty. Speaking on the REIT Report, Gamzon said the company chose to convert to a REIT in part because it “aligned with the business w...
Episode 266: Nareit Leader in the Light Awards Demonstrate How REITs Stepped Up to Face Pandemic Challenges
January 07, 2021 00:00 - 8 minutes - 12.2 MBNareit’s 2020 Leader in the Light Awards highlighted a strong field of companies that have worked hard during the pandemic to put their tenants’ needs first, while also reducing their energy, water, and waste output, according to Cliff Majersik, senior advisor for policy and programs at the Institute for Market Transformation. Majersik served as a judge for the 2020 Leader in the Light Awards. He noted that REITs have put a premium on making their buildings comfortable, productive, ...
Episode 265: Prologis Sees Increased Automation Helping to Create More Resilient Supply Chains
December 17, 2020 00:00 - 7 minutes - 10.6 MBThe increased adoption of automation technology within logistics real estate will help ease the shift toward more resilient, just-in-case supply chains, according to Melinda McLaughlin, vice president and global head of research at Prologis, Inc. (NYSE: PLD). Speaking on the REIT Report, McLaughlin said the shift in supply chain format will put an intense strain on the amount of available supply of property. “Automation can help customers adapt to that and incorporate that move to m...
Episode 264: New Howard Hughes CEO Sees “Unparalleled Opportunity” to Drive NAV Growth
December 10, 2020 00:00 - 16 minutes - 22.3 MBDavid O’Reilly, CEO of The Howard Hughes Corporation (NYSE: HHC), said the REIT has an “unparalleled opportunity” to continue to drive net asset value (NAV) growth over the next several years and decades. O’Reilly was named CEO at the start of December, after serving in that position on an interim basis since September. Speaking on the REIT Report, O’Reilly attributed the growth potential to increased demand for mixed-use live, work, play communities, coupled with over $1 billion o...
Episode 263: Recent Real Estate Valuations Point to More Confidence in Recovery Next Year
December 07, 2020 00:00 - 5 minutes - 7.37 MBRecent news on commercial real estate valuations reflect growing confidence that the sector will start to recover in 2021, said Nareit Senior Economist Calvin Schnure. Speaking Dec. 7 on the REIT Report, Schnure noted that valuations appear to be more stable than they appeared a few months ago, when the sales prices of properties that were being sold showed a big discount. Volumes at that time were light, though. “As we get a better look at the market, the valuations reflect a bit m...
Episode 262: How the City of Austin’s Pension Plan Implemented a Portfolio Completion Strategy Using REITs
December 01, 2020 00:00 - 15 minutes - 21.6 MBDavid Veal, chief investment officer for the City of Austin Employee’s Retirement System (COAERS), joined guest host Meredith Despins, Nareit senior vice president, investment affairs, for a special edition of the REIT Report to discuss how investing in a completion portfolio using REITs is delivering value to the pension system’s real estate investment portfolio. Pension funds have long recognized the important role real estate plays in diversified investment portfolios. However, o...
Episode 261: STORE Capital’s Mary Fedewa Says Net Lease REIT has Just Begun to Tap Potential Growth Opportunities
November 23, 2020 00:00 - 15 minutes - 21.1 MBSTORE Capital Corp. (NYSE: STOR) President and COO Mary Fedewa says that after six years as a public company, the net lease REIT has “barely scratched the surface” in terms of tapping potential opportunities for growth. Speaking on the REIT Report, Fedewa said STORE continues to see trends “driving more net lease activity, as companies recognize the benefit of using their own capital to grow their business rather than to hold real estate.” Fedewa said that with over 200,000 compani...
Vaccine Optimism Pushes REITs to Highest Levels Since Start of Pandemic
November 16, 2020 00:00 - 4 minutes - 5.93 MBREIT share prices, buoyed by positive developments with regard to progress on a COVID-19 vaccine, ended last week at their highest levels since the start of the pandemic, according to Nareit Senior Economist Calvin Schnure. Speaking Nov. 16 on the REIT Report, Schnure noted that news that Pfizer trials showed a success rate of 90% sent REITs sharply higher, especially for those sectors most impacted by the pandemic. Lodging and resort REITs were up 31% on Nov. 9 alone, while retail...
DLA Piper Survey Cites Capital Looking to Invest in Real Estate as Reason for Optimism
November 13, 2020 00:00 - 8 minutes - 12 MBThe DLA Piper annual survey of real estate executives cites the availability of capital looking to invest in commercial real estate as a reason for optimism in the current environment. Speaking on the REIT Report, John Sullivan, U.S. chair and global co-chair of DLA Piper’s real estate practice, said “the fact that there are folks out there with money to invest—and actually we’re seeing some increases now in investment—is a reason for some optimism.” The survey showed 58% of respon...
Gaming REITs Likely to See Increased Downside Protection from Growth in iGaming
November 05, 2020 00:00 - 10 minutes - 15.1 MBGaming REITs whose tenants are investing in online gaming (iGaming) platforms are expected to benefit from increased downside protection, according to Spenser Allaway, an analyst on Green Street’s research team and sector head of net lease, gaming, and self-storage. Speaking on the REIT Report, Allaway said downside protection for the gaming REITs will be in the form of improved underlying tenant credit. The three primary gaming REIT tenants are: Penn National Gaming, a tenant of G...
GDP Surges in Q3, But Still Below Year-Earlier
November 02, 2020 00:00 - 4 minutes - 6.68 MBThird-quarter GDP posted the biggest increase in history as it rebounded from a record decline in the Spring, yet it still remains below levels seen a year earlier, indicating that further improvement is needed, said Nareit Senior Economist Calvin Schnure. Speaking on the REIT Report, Schnure noted that even after the 33% increase, third quarter GDP is “still down by as much as you might see in a typical recession, so we still have a ways to go.” As for which areas showed growth, S...
Retail Sales Figures Point to Potentially Robust Holiday Sales Season
October 19, 2020 00:00 - 3 minutes - 5.17 MBRetail sales figures for September came in stronger than expected, laying the groundwork for a potentially robust holiday sales season this year, according to Nareit Senior Economist Calvin Schnure. September retail sales jumped nearly 2%, which was stronger than expected. “The economy’s not as weak as some people may have feared a month or two ago,” Schnure said. Nearly all categories of spending are running at about 5% above pre-pandemic levels, although a few notable exceptions ...
REIT Market Volatility Creating Potential for Opportunistic Investment
October 16, 2020 00:00 - 13 minutes - 18.7 MBCurrent volatility within the REIT market is creating the potential for opportunistic investment, particularly among well-capitalized companies with seasoned management teams, said Jay Olander, managing partner of Cornerstone Realty Advisors. Olander has served in senior REIT management positions for over 25 years. Most recently, he oversaw the $1.9 billion sale in 2016 of Landmark Apartment Trust, Inc., an apartment REIT. Speaking on the REIT Report, Olander compared current marke...
September Jobs Report Raises Concerns Over Pace of Economic Recovery
October 05, 2020 00:00 - 3 minutes - 5.1 MBA slowing of payroll employment in September raises concerns over the pace of the economic recovery in the months ahead, Nareit Senior Economist Calvin Schnure said. Speaking Oct. 5 on the REIT Report, Schnure noted that despite the 661,000 rise in payroll employment in September, “the report had more warning signs than good news.” The increase came in below market expectations, and while the unemployment rate dropped to 7.9%, a big part of that was because people stopped looking f...
Nareit Rent Collection Surveys from Past Half-Year Highlight Resiliency of REITs During Crisis
September 28, 2020 00:00 - 6 minutes - 8.88 MBThe biggest story to emerge from the past six months has been the bounce-back in certain retail sectors. Funari noted that rent collection for free standing retail started out at 73% and by September was almost at 95% of typical rent collected. Shopping centers started the pandemic at slightly over 50% and were at 82% of typical rent collection by September, she noted. Nareit decided to end its regularly scheduled rent collection survey this month, Funari explained, because most pro...
Flexibility is Key to Future-Proof Commercial Real Estate for the Next Decade
September 25, 2020 00:00 - 20 minutes - 27.8 MBThe commercial real estate industry should use the current environment as a catalyst to future-proof assets for the changing ways in which they will be used over the coming decade, according to Nikki Greenberg, founder and CEO of Real Estate of the Future. Speaking on the REIT Report, Greenberg noted that while the ways we live and work have rapidly changed, the spaces we occupy have not. “We really need to use this as an opportunity to become future ready as we look toward 2030,” s...