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Reit

  1. REITs rose modestly in July, with data center REITs and regional mall REITs posting the strongest returns during the month.

    The total returns of the FTSE Nareit All REITs Index rose 0.8 percent in July, while the S&P 500 rose 3.7 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 3.8 percent in July.

    The yield on the 10-year Treasury note was 0.1 percent higher in July.

  2. Toronto-based Brookfield Asset Management Inc. and Forest City Realty Trust, Inc. (NYSE: FCE.A) said July 31 that Brookfield will acquire Forest City in an all-cash transaction valued at $11.4 billion, including debt.

    Cleveland-based Forest City, founded in 1920, focuses on the ownership, development, management, and acquisition of commercial, residential, and mixed-use real estate in key urban markets. The REIT’s assets total $8 billion.

  3. Phillips Edison & Company, Inc. (PECO), a public non-listed REIT (PNLR), said July 18 that it has agreed to merge with Phillips Edison Grocery Center REIT II, Inc., a PNLR it currently sponsors and manages, creating a $6.3 billion REIT focused exclusively on grocery-anchored shopping centers.

    The stock-for-stock merger will create a national portfolio of 323 grocery-anchored shopping centers encompassing approximately 36.7 million square feet, located across 33 states.

  4. Brad Case of Nareit presents on REIT investing in July 2018.

    Brad Case, senior vice president, research & industry information at Nareit, traveled through the South earlier this month, discussing REIT investing with the Chartered Financial Analyst (CFA) societies in five cities.

  5. REIT mergers and acquisitions (M&A) activity is likely to reach a record level in 2018 if it continues at the same pace seen in the first half of the year, according to panelists on a Bloomberg Intelligence webinar, The Rising Tide of REIT M&A: What’s Behind the Wave?