Home Archives for February 2018

Month: February 2018

Volatility Dominating REIT Market, Portfolio Manager Says

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Joel Beam, managing director and senior portfolio manager at Salient, was a guest on the latest edition of Nareit’s REIT Report Podcast.

Beam, lead manager of the Salient Select Income Fund, commented on the variety of factors impacting the REIT market today. “What we see as front and center right now is really volatility,” he noted.

ULI Greenprint Emphasizes Role of Tenants in Energy Emissions Reduction

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Micah Brill, vice president at ULI Greenprint, joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

Brill explained that the mission of ULI Greenprint is to work with the real estate industry to help support a 50 percent emissions reduction by 2030.

As part of that effort, Brill stressed the importance of internal and external benchmarking.

Parkway Properties Increasing Waste Diversion Rates

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Daniele Horton, head of sustainability at Parkway Properties, Inc., joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

Parkway’s portfolio consists of the Houston-based assets that were spun off into a new REIT following the 2016 merger between Cousins Properties Inc. (NYSE: CUZ) and Parkway Properties, Inc. Last year, Parkway was purchased by the Canada Pension Plan Investment Board (CPPIB).

Vornado Responding to New York’s Changing Energy Regulations

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Dan Egan, vice president for sustainability and utilities at Vornado Realty Trust (NYSE: VNO), joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

In 2017, Vornado won Nareit’s Leader in the Light Award in the diversified category. This marks the eighth successive year that Vornado has been recognized by Leader in the Light.

Egan addressed how changes in regulations or incentive programs have impacted Vornado’s approach to sustainability.

Green Leases Encourage Landlord-Tenant Collaboration

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Cliff Majersik, executive director of the Institute for Market Transformation (IMT), joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

IMT is a national nonprofit organization focused on increasing energy efficiency in buildings.

Majersik discussed some of the benefits of green leases. He stressed that they are a “great way for landlords and tenants to work together.” Everybody comes out ahead when the building is more energy-efficient and costs are being shared equitably, he added.

REIT Investors Should Ignore Short Term Volatility

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Calvin Schnure, Nareit’s senior vice president for research and economic analysis, joined Nareit’s REIT Report Podcast to discuss how concerns about inflation and interest rates are affecting the broader markets, and the REIT market in particular.

Schnure observed that recent signs that inflation may be picking up prompted a significant increase in interest rates. This sparked large moves in the broad equity markets in early February.

Office REIT Kilroy Formalizing Process for Sustainability Pilot Projects

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Sara Neff, senior vice president of sustainability at Kilroy Realty Corp. (NYSE: KRC), joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

Kilroy has been recognized four times for its sustainability initiatives by Nareit’s Leader in the Light Award. Neff stressed that the key to maintaining effective sustainability programs is to undertake a “whole cultural change” at a company.