RCA in the commercial property press:

Listed-REITs Funding Deals and Mergers with Uniquely Easy Access to Equity

Pensions & Investments Online reports: Armed with large reservoirs of cheaply-raised equity, the world’s largest real estate investment trusts (REITs) are the best-positioned class of commercial property buyers to purchase underperforming real estate portfolios or entire companies for discounted prices. Pensions & Investments recently cited data aggregated by Real Capital Analytics (RCA) to state that six of the top 20 buyers of commercial real estate globally during the first quarter of 2011 were REITs. The full list was presented in the first quarter edition of RCA’s Global Capital Trends report.

The REIT sector’s mergers over the past year have stolen headlines, and some of the largest deals since the downturn have involved REITs on the buy-side. RCA’s top 20 list included US-based Host Hotels & Resorts Inc, which has taken down San Diego’s Manchester Grand Hyatt for $570 million and the New York Helmsley Hotel for $314 million so far this year. Additionally, listed-REIT Equity One Inc made the top 20 for teaming with London-based Capital Shopping Centres to purchase Capital and Counties USA inc wholesale, an M&A deal that included 15 California retail properties.

For more on momentum among listed-REITs and an outlook on their long-term futures, please see the full article on Pensions & Investment’s site.

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Posted by: Nina Turner

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