REITs will probably not be able to sustain the capital-raising activity of 2017 into next year, according to Keven Lindemann, senior director of global real estate at S&P Global Market Intelligence. Despite some economic uncertainty, capital raising in 2017 has been "surprisingly active," and it will likely slow in 2018, with its success dependent on choosing the right growth opportunities, he says.
DDR Corp. plans to spin off 50 assets, which have a gross book value of $3 billion, into a separate publicly listed REIT that will be called Retail Value Trust and managed externally by DDR. The portfolio consists of 38 continental US assets and 12 properties in Puerto Rico.
Grocery-anchored shopping centers may feel the impact of two trends gaining traction: more competition in the space and consumers' increasing willingness to buy groceries online. The sector has a growing sense of uncertainty, but analysts point to continued strong fundamentals for these assets.
Equity Office, which is owned by Blackstone Group, and Hines are seeking partners to enter the co-working space industry, and both companies have issued requests for proposals. Equity Office is looking to entice more tenants to the Howard Hughes office complex in Los Angeles by adding a co-working component.
Kimco Realty Corp. says it sees great opportunity in liberating the hidden value of its real estate, says CEO Conor Flynn. "We're really just scratching the surface on what the highest and best use of the real estate could be ... mixed-use in some cases is the best way to do that," he said, adding that the REIT will likely work with partners.
Camden Property Trust is prepping for a period of acquisition activity following the $450 million in equity it issued earlier this year. "We think there are going to be some very attractive acquisition opportunities for Camden over the next four to eight quarters, and we're ready to do that with the strongest balance sheet in the sector," says CEO Ric Campo.
CBRE's "Future of Retail 2030" series looks at predictions for how retail will look in 2030. The report says wearable devices will replace smartphones, in-store checkout desks will be replaced by cashless solutions, and customers will receive customized shopping experiences.
OneMarket, with investment from the Lowy family, is developing a way to connect consumers, brands, retailers and shopping centers by using data. The OneMarket platform will gather data from retailers and shoppers and notify customers about product availability.
The owner of the 67,360-square-foot Holiday Centre in suburban Tampa, Fla., has secured $6.7 million in financing through a 70% loan-to-value ratio deal with BankUnited. The property features a Publix Supermarket and is 100% leased.
It has been a banner year for engagement at Nareit events. Nareit's signature conferences, REITweek and REITworld, attracted more than 4,500 REIT community members. Now is the time to make plans for 2018. Check out Nareit's full lineup of events.
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