| The daily source on REITs and real estate investment |  |
- Small REITs outperformed larger counterparts in Q1
Small REITs posted surprising gains in the first quarter of 2012, delivering better performance than the REIT sector overall. The Dow Jones All REIT index delivered a total return of 10.48%, a significant drop from the previous quarter’s return of 15%. Smaller REITs, which did not do well last year, were among the top performing REITs in the index. The Wall Street Journal
(4/3)     
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- General Growth refinances $1.4B on Honolulu retail center
General Growth Properties secured a $1.4 billion mortgage on its Ala Moana Center retail center in Honolulu. The interest-only loan has an interest rate of 4.23% per year and matures April 1, 2022. Goldman Sachs Commercial Mortgage Capital provided the financing. The REIT used the proceeds to repay a more expensive mortgage that was coming due in 2018 on the property. SNL Interactive (free content)
(4/3)
| Investment News | | |
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- Betts lauds non-listed REITs' move into public markets
As more public non-listed REITs list in the public markets, it will add liquidity to this segment of the market, says Kenneth Betts, an attorney with Locke Lord. “We haven’t seen much real liquidity events in terms of the listing of non-listed entities since 2007,” he says. He called the growing number of listings an encouraging trend that he hopes will continue.  REIT.com
(4/3)
| Real Estate Marketplace | | |
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- Apartment vacancies in U.S. drop to lowest rate since 2001
The first-quarter apartment vacancy rate in the U.S. fell to its lowest figure in more than 10 years, according to data provider Reis. The overall vacancy rate declined to 4.9%, the lowest level since the fourth quarter of 2001, the company said. Also, apartment rents increased by the biggest amount in four years. Reuters
(4/4)
- Hoster: Sunbelt migration trends boosting occupancy
EastGroup Properties CEO David Hoster told Mad Money’s Jim Cramer that he is seeing a tremendous pickup in industrial occupancy in the Sunbelt states, which is where EastGroup is focused. Some of that is a flight to quality on the part of tenants as the economy improves, he says. Demographics are also playing a role. “We are a firm believer in the movement back to the Sunbelt.” CNBC
(4/3)
- Inland acquires 2 retail centers for a combined $74M
Inland Real Estate Acquisitions has bought two shopping centers for a total of $74 million. The two centers are the Shoppes at Branson Hills, a 348,700-square-foot shopping center in Branson, Mo., and Hamilton Crossing, a 175,500-square-foot retail center in Alcoa, Tenn. The acquisitions were made on behalf of Inland Diversified Real Estate Trust. Commercial Property Executive
(4/3)
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NAREIT announces new target-date funds research
NAREIT has announced new research by Wilshire Associates® that shows how investors and investment managers can strengthen retirement portfolios and, in particular, target-date funds by adding allocations to REITs and listed real estate. Target-date funds are popular investment products designed to simplify 401(k) or IRA portfolio planning for millions of Americans now responsible for their own retirement planning. The full Wilshire report on the impact of real estate in target-date funds is available free of charge here.
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| Policy Watch | | |
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- FSOC to designate some nonbank firms as SIFIs
The Financial Stability Oversight Council has adopted a rule that will designate some private-equity firms, hedge funds, insurers and other nonbank financial firms as "systemically important financial institutions." The move will increase the regulatory body's oversight of such firms. The rule "is an important tool provided in Dodd-Frank for extending the perimeter of transparency, oversight and prudential supervision over parts of the financial system that can be a particularly important source of credit to the economy and potentially important source of risk,” said Treasury Secretary Timothy Geithner, who heads the 10-member council. The New York Times (tiered subscription model)
(4/3), Market News International
(4/3), The Hill/On the Money blog
(4/3), Reuters
(4/3)
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