Japanese developer Hulic Co. wants to speed up the listing of a $1.04 billion REIT as the economy improves. It said it will list the REIT by the middle of 2014. The REIT will include office and commercial buildings in Tokyo as well as nursing homes.
U.S. REITs outperformed the broader equity market for the fourth consecutive year in 2012, NAREIT reports.
The FTSE NAREIT All REITs Index delivered a 20.14% total return for the year, while the FTSE NAREIT All Equity REITs Index posted a 19.7% gain. The S&P 500 rose by 16%.
Toledo-based Health Care REIT has completed its $3.4 billion acquisition of Sunrise Senior Living's assets. Health Care REIT has also closed on a related deal to sell Sunrise's management company business for $130 million.
Rules governing the ability-to-repay mandate in the 2010 Dodd-Frank financial legislation will be unveiled by the Consumer Financial Protection Bureau today. These rules will spell out how lenders must ensure that the borrowers can afford their home loans. They will go into effect next January.
The European Aeronautic Defense & Space Co. said that reduced revenue from its delayed A400M military transport program and provisions against losses caused the company to move into the red in 2009. EADS posted a net loss of $1.04 billion last year, but the company said it had reached an agreement with European governments to save the A400M project.