Sources say India's first REIT listing is about to go to market, backed by Blackstone and the Embassy Group, the latter which owns 24 million square feet of office space. Roadshows for the listing generated strong institutional investor interest.
A shift is underway at student housing properties, with amenities now focused more on studying, health and fitness, and the ride-sharing economy instead of the luxury-style offerings of a few years ago. Part of this change is a reflection of slowing fundamentals in the sector, and part of it is due to the different tastes of Generation Z, now entering college.
Demographic trends are just as important for the multifamily market as economic drivers such as supply constraints, according to participants at the National Apartment Association's Apartmentalize conference. Generational shifts determine a wide range of factors from apartment size to the mix of amenities.
EPR Properties has $6.8 billion in investments in ski resorts, top golf sites, movie theaters and schools. It's a unique mix of assets, says EPR's President and CEO Greg Silvers, who likens it to "social infrastructure for people to create experiences with their friends, family and colleagues as well as places to get an education."
Urstadt Biddle Properties' focus is on grocery-anchored shopping centers around New York City plus small shopping centers and retail infill properties adjacent to regional malls. President and CEO Willing Biddle says the portfolio is 84% grocery-anchored, and he'd like to see that percentage rise to 90%.
US industrial production dropped 0.1% in May month over month, following three months of growth. A fire at a major Ford Motor Co. supplier was part of the reason for the decline.
The plans for The Collection at Independence in Wilmington, N.C., show a 185,000-square-foot retail center. The project will include eight retail tenants, a mercantile store, a grocery store and restaurants.
US retail sales rose 0.8% in May from the previous month, beating economists' forecasts for a 0.4% rise, and sales excluding autos were up 0.9%, according to the Commerce Department. The jump, which represents the biggest monthly gain since November, came as consumers boosted spending on a range of goods.
Publicly traded REITs are still enjoying strong fundamentals and have numerous options for investing their capital, according to National Real Estate Investor's research. Its findings include a positive environment for mergers and acquisitions; also, a majority of respondents said REITs should focus on paying down their debt.
Sources say Greystar Real Estate Partners is negotiating to pay approximately $3.1 billion, or $41.50 per share, to buy Education Realty Trust. The price may fluctuate between now and the acquisition announcement that could come by week's end.