Home Archives for June 2020

Month: June 2020

Cedar Realty Trust Showing Strong Rent Collections Through Spring

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Bruce Schanzer, president and CEO of Cedar Realty Trust, Inc. (NYSE: CDR), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).

Schanzer said that Cedar’s focus on grocery-anchored retail is a part of the company’s DNA. He said that when he joined Cedar in 2011, the REIT had roughly 140 disparate assets.

Piedmont Realty Trust Enacts New Operational Procedures for Building Reopenings

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C. Brent Smith, president and CEO of Piedmont Realty Trust, Inc. (NYSE: PDM), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).

Smith discussed sanitation and cleanliness practices that will be unique to office REITs post-COVID-19, noting that Piedmont has cleaning crews cycling through its properties every two hours and is also encouraging its tenants to wear masks.

Columbia Property Trust Incorporating ESG Principles Across Its Business and Goals

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Nelson Mills, president and CEO of Columbia Property Trust (NYSE: CXP), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).

Mills discussed the sale of Pasadena Corporate Park in suburban Los Angeles that Columbia Property Trust completed at the beginning of the coronavirus crisis, noting that the buyer took a long-term view of the investment, so the REIT was able to close the deal with minimal adjustment.

Free Standing and Shopping Center Retail REIT Rent Collections Jump in June

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While real estate is a durable investment that often performs well in economic downturns, the financial health of a landlord will ultimately impact the financial health of its tenants, according to John Worth, Nareit’s executive vice president of research and investor outreach.

In a video interview with Nareit, Worth said that to better assess how the pandemic has been financially impacting REITs, Nareit began conducting monthly rent collection surveys of its members in April.

Alpine Income Property Trust Benefited from Announcing IPO Pre-COVID-19

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John Albright, president and CEO of Alpine Income Property Trust (NYSE: PINE), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).

Albright said that Alpine had the benefit of announcing its initial public offering in November 2019 when the market was strong, but then faced the challenge of investing immediately before the COVID-19 pandemic.

‘Spirit of Corporate Social Responsibility’ Guided Essex Property Trust Through Pandemic

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Mike Schall, president and CEO of Essex Property Trust (NYSE: ESS), participated in a video interview in conjunction with Nareit’s REITweek: Virtual Investor Conference (held June 2-4).

Schall said that Essex’s annual corporate social responsibility (CSR) report was nearing completion at the beginning of the pandemic, so its disclosure focused on the REIT’s COVID-19 response plan, which included remaining open as an essential business while also maintaining a safe workplace.