In Print: America’s Urban Future: Lessons from North of the Border

According to authors Ray Tomalty and Alan Mallach, U.S. cities should look to Canada for ways to make our urban areas more livable and sustainable.

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Hotel REITs Trading at Prices below Net Asset Values

The overwhelming majority of hotel real estate investment trusts (REITs) are trading at prices that represent discounts to their net asset value, as has been the case for more than a year now. The thinking in some circles is that the hotel sector is approaching its cyclical peak. Plus, interest rate survey data from Trepp.

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Interest Rates, REITs, and Brexit

Even as the broader equity markets fell, real estate investment trusts posted positive returns as economic uncertainty once again took center stage. The Federal Reserve Board’s decision not to raise interest rates this month was good news for REITs in terms of keeping their cost of capital low, but also reflected some weak economic news that could mean economic growth is faltering. Plus, interest rate survey data from Trepp.

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REITs Are Selling or Building, but Not Buying

The current real estate cycle is maturing after more than seven years of expansion. Real estate investment trusts in all sectors are responding to market conditions by selling more properties than they are buying and by recycling capital to fund new development and redevelopment. Plus, interest rate survey data from Trepp.

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Recent Articles

  • Four Affordable and Workforce Housing Policies, Initiatives Selected as ULI Award Finalists

    June 13, 2016

    The finalists for this year’s ULI Robert C. Larson Housing Policy Leadership Awards include Arlington County, Virginia, the City of Chicago, Illinois, New York City, and the State of Iowa.

  • Performance and Broader Economy Boost REITs in May

    June 10, 2016

    Real estate fundamentals and real estate investment trust performance benefited from positive economic news during May. Retail sales experienced their biggest increase in a year with a 1.3 percent jump during April, according to the U.S. Department of Commerce, and the pace of both new-home sales and home resales accelerated during April. The positive news was tempered by a worse-than-expected April jobs report as the brisk hiring of the first quarter slowed.

  • In Print: The Human City: Urbanism for the Rest of Us

    June 3, 2016

    Joel Kotkin, a fellow in urban studies at Chapman University in Orange, California, whose previous works include The Next Hundred Million: America in 2050 and The New Class Conflict, in his latest book challenges the claimed advantages of high-density, “pack and stack” urban development.

  • Will Summer Travel Boost Lodging REITs?

    May 31, 2016

    Memorial Day unofficially kicks off the busy summer travel season, and this summer is shaping up to be the busiest travel season in years. Despite the bright outlook for summer travel, almost five months into the year, year-to-date lodging sector real estate investment trust (REIT) returns measured –2.93 percent. Plus, interest rate survey data from Trepp.

  • Could New Supply of Apartments Slow Rising Rents?

    May 23, 2016

    Landlords are confident that apartments are not overbuilt, and rents continue to increase in many markets, but real estate investment trust investors are less certain. This year, deliveries are reaching new peaks, and investor worries about a market softening are reflected in the sector’s –1.12 percent year-to-date total return. Plus, interest rate survey data from Trepp.

  • Investors Willing to Fill the Void for Spending on Infrastructure, Energy

    May 17, 2016

    Panelists at the recent ULI Japan Conference in Tokyo said that even a mature market such as Japan offers significant opportunities, due to a program of public/private partnerships designed to ease the burden on the state, but a $1 trillion “infrastructure gap” exists worldwide.

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