Many REITs have embraced the co-working model and are disclosing the benefits and risks associated with contracting space to such tenants, writes Fitch Ratings senior director Stephen Boyd. Some REITs, such as Boston Properties and SL Green Realty, see co-working tenants as "a critical net absorber of space," while others, such as Empire State Realty Trust, think the model "disrupts the relationships between tenants, landlords and brokers with outsized risk from weak equity-dependent business models," Boyd writes.
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BlackRock will acquire French software company eFront for $1.3 billion. The company provides deal management tracking and reporting for private equity and alternative investments, and its acquisition would help BlackRock diversify from stocks and bonds.
Request to Attend REITweek REITweek is the largest annual gathering of REIT investors and management teams. Held June 4-6 at the New York Hilton Midtown, you won't want to miss the unique opportunity to get business plans, forecasts, and strategies directly from 150+ REIT management teams. Learn more.
The beauty industry niche within the retail sector, typified by such stores as Ulta Beauty and Sephora, is growing rapidly even as other types of retailers are scaling back their physical presence. Their growth is due to factors such as the decline of the department store, the use of social media to interact with customers and little overlap with e-commerce offerings.
Relatively little new supply is entering the nursing home pipeline in terms of freestanding facilities, says Bill Kauffman of the National Investment Center for Seniors Housing & Care. "Investors and consumers want property that has several tiers of senior living, including memory care, assisted living, and nursing homes," he said.
JBG Smith has big plans for Northern Virginia's National Landing, which includes Crystal City, the eastern portion of Pentagon City and the northern part of Potomac Yard. "We had already started looking at opportunities in that submarket three or four years ago," before Amazon opted to establish its second headquarters there, said Kai Reynolds, the REIT's chief development officer.
National Landing in Northern Virginia is gearing up for the 25,000 people who will be employed at Amazon's second headquarters, with about 5,300 residential units planned or under construction in developments that will include pedestrian space and many amenities. A sudden spike in rental rates isn't expected, because Amazon will enter the area in stages.
National Retail Properties' results for 2018 were solid, President and CEO Jay Whitehurst said, with core funds from operations, or FFO, per share growing 5.2% and the REIT increasing its dividend for the 29th consecutive year. "We're one of only three REITs and less than 90 public companies that have that enviable track record of annual dividend increases," he said.
The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America's Surface Transportation Act of 2015.
One of the most critical issues for real estate investors in the year ahead is the outlook for cap rates and property prices, especially with Federal Reserve policy in the spotlights. In addition to the future path for their target for short-term interest rates, Fed officials have also been discussing policy options concerning their securities holdings. Learn more.