Dan Hansen, chairman, president and CEO of Summit Hotel Properties, Inc. (NYSE: INN), joined Nareit for a video interview at REITworld 2017.
Summit focuses primarily on owning premium-branded, select-service hotels in the upscale segment of the lodging industry.
Hansen described the acquisitions environment as “very challenging,” in part due to the abundance of commercial mortgage-backed securities (CMBS) financing.
William Trimble, president and CEO of Easterly Government Properties (NYSE: DEA), joined Nareit for a video interview at REITworld 2017.
Easterly acquires, develops and manages class-A commercial properties that are leased to government agencies primarily through the General Services Administration (GSA).
Javier Llaca Garcia, COO of Fibra Mty (BMV: FMTY14), joined Nareit for a video interview at REITworld 2017.
Based in the northeastern Mexican city of Monterrey, Fibra Mty primarily owns office and industrial properties.
Llaca said Fibra Mty seeks to convey to potential investors that the company is a “U.S. REIT with a Mexican zip code,” in so far as it has adopted world-class corporate governance practices.
Chris Volk, president and CEO of STORE Capital Corp. (NYSE: STOR), joined Nareit for a video interview at REITworld 2017.
STORE is an acronym for single-tenant operational real estate, which is the company’s target market.
Volk said STORE has achieved a monthly pace of about $100 million in acquisitions for the past three years. Looking to 2018, Volk said he expects STORE to be able to maintain that rate and exceed $1 billion in acquisitions for the year.
Steven Marks, managing director at Fitch Ratings, joined Nareit for a video interview at REITworld 2017.
Marks commented on some of the trends he is seeing in REIT bank borrowing exposure.
“It’s one of the few things we’re concerned about when it comes to REIT liquidity and access to capital,” Marks said. He noted that the sum of bank borrowing relative to the overall debt capital structure is currently about 18 percent, compared with a level of around 8 percent in 2008 to 2009.
REIT returns were marginally lower in December, as the REIT market produced total returns of more than 9 percent in 2017.
The total returns of the FTSE Nareit All REITs Index fell 0.1 percent in December, while the S&P 500 posted a total return of 1.1 percent. For the year, the FTSE Nareit All REITs Index gained 9.3 percent; the S&P 500 returned 21.8 percent.
Benjamin Schall, president and CEO of Seritage Growth Properties (NYSEMKT: SRG), joined Nareit for a video interview at REITworld 2017.
Seritage is the real estate spinoff of Sears Holding Corp. It began trading as a public company in 2015.
Schall stated that the company’s leasing activity accelerated in 2017. As a result, Seritage has leased about 4 million square feet during the last two-and-a-half years.
James Nelson, president and CEO of Global Net Lease (NYSE: GNL), joined Nareit for a video interview at REITworld 2017.
Global Net Lease’s portfolio of real estate assets spans the United States, the United Kingdom, Germany, the Netherlands and Finland.
Nelson took over as CEO in August 2017. He explained that the company’s priorities include refinancing its debt stack, focusing on acquisitions and “growing the company again.”
Mark Decker Jr., president and CEO of IRET (NYSE: IRET), joined Nareit for a video interview at REITworld 2017.
IRET focuses on the ownership, management, acquisition, redevelopment and development of multifamily apartment communities.
Decker took over as president and CEO of IRET in April. He noted that the company’s management team has undergone substantial change in the past six months, as a new CFO and general counsel have also been appointed.
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Ari Frankel, assistant vice president for sustainability and high-performance buildings at Alexandria Real Estate Equities, Inc.