CommonWealth REIT is challenged over outside management

05/7/2013 | Financial Advisor online

CommonWealth REIT's use of outside managers to decide when to buy and sell each property is raising objections from shareholders, who note that the managers' interests might differ from those of investors. "The adviser does well if the REIT gets bigger, but the shareholders may not be well served by the REIT getting bigger," said Jim Sullivan, a managing director at researcher Green Street Advisors. CommonWealth is facing an attempt by its second-biggest investor to remove the board.

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