Q3 is over and (most) results are in. Yes, REIT returns rose 6.1% in October, supported by positive Q3 earnings reports, but the news (and deals) don't stop. Here's what's happening in the world of REITs today.
1. Four REITs—Liberty Property, Essex Property, QTS Realty and DCT Industrial—are trying their hands at redevelopment projects. [REIT]
2. Insurance giant Aflac wagers on Japan real estate with $103M investment in REITs. [Bloomberg]
3. With a new Chicago acquisition, Steadfast Apartment's now eclipsed $1B worth of property. [GS]
4. Is MGM Resorts' recent REIT announcement the beginning of a new strategic trend within the casino industry? [Bisnow]
5. In a big deal, an affiliate of private equity firm Lone Star Funds picks up a Japanese REIT portfolio for $370M. [Bisnow]
6. In a brief overseas news item, in London BRIEF-Regional REIT seeks £274M ($421.4M) market value listing on the London Stock Exchange. [Reuters]
7. Everything's bigger in Texas, right? Well this REIT just got bigger. Bluerock Residential Growth REIT grabs two multifamily properties in Dallas, increasing its portfolio by 674 units. [Street]
8. Schafer Richardson started a REIT this year and has already picked up $64M worth of properties. [StarTribune]
9. Will a rate hike upset REITs? Eric Franco from Barron's doesn't think so. [Barron's]
10. From new CFOs to Executive VPs, the REIT world's had a lot of corporate shakeups lately. Here are the main ones. [REIT]
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