James Stewart, CEO of MGM Growth Properties LLC (NYSE: MGP), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Stewart described the REIT as a leader in the diversification of entertainment activities in Las Vegas. On the Las Vegas Strip, approximately one third of revenue is generated by casino gaming—the rest comes from restaurants, bars and live entertainment, he said.
Andrew Sims, chairman and CEO of Sotherly Hotels Inc. (NASDAQ: SOHO), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
In March, Sotherly acquired the Hyatt Centric Arlington located in Arlington, Virginia. Sims said Sotherly has been trying to enter the Washington, D.C. market for several years now as it serves as a feeder for the company’s other hotels.
Dave Schulte, president and CEO of CorEnergy (NYSE: CORR), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
As the first publicly-listed energy infrastructure REIT, CorEnergy’s business model can sometimes be a challenge to explain to investors.
Nelson Mills, president and CEO of Columbia Property Trust (NYSE: CXP), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Sam Landy, president and CEO of UMH Properties (NYSE: UMH), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Landy said one of the reasons UMH Properties has had such strong results is because the company is able to provide housing to the increasing number of people moving to their markets for job opportunities.
“We’re predominantly workforce housing, and [in] Indiana, Ohio [and] Western Pennsylvania, the job market’s growing,” Landy said.
Daniel DuPree, chairman and CEO of Preferred Apartment Communities, Inc. (NYSE: APTS), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Preferred Apartment Communities’ primary asset type has been class-A multifamily in markets with more than one million people and good job growth. The REIT acquired $1.1 billion in assets since the beginning of 2017, but then began to pivot.
DDR Corp. (NYSE: DDR) said its plan to spin off lower-quality U.S. shopping centers and its Puerto Rico assets will create value for shareholders and complete the retail REIT’s broader portfolio transformation.
DDR first announced plans to create a new REIT, Retail Value Inc. (RVI), at the end of 2017. RVI is expected to begin trading on July 2.
EdR (NYSE: EDR) announced June 25 that it has agreed to be acquired by an affiliate of Greystar Real Estate Partners in an all-cash transaction valued at approximately $4.6 billion, including debt.
As part of the transaction, Blackstone Real Estate Income Trust, Inc. will acquire a portfolio of EdR’s off-campus student housing assets for $1.2 billion in a joint venture with Greystar. Blackstone will hold a 95 percent stake in the joint venture.
Ernest Rady, president and CEO of American Assets Trust (NYSE: AAT), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Based in San Diego, American Assets Trust acquires, develops, refurbishes and manages a portfolio of retail, office and apartment properties.
Thomas McGuinness, president and CEO of InvenTrust Properties Corp., participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
McGuinness commented on InvenTrust’s recent acquisition of PGA Plaza, a 120,000-square-foot Trader Joe’s grocery-anchored neighborhood center in Palm Beach Gardens, Florida, for $88 million. “PGA Plaza is a property that checks all the boxes for us,” he said.
McGuinness said that although the south Florida market is “very competitive,” it is a market where InvenTrust wants to expand.
