Texas court holds that purchaser’s reliance on inaccuracies and omissions in draft appraisal provided to lender was unjustifiable, and could not support allegations of fraud regarding misrepresentation of building’s value.
Tyler Morse, CEO of MCR Development, joined REIT.com for a CEO Spotlight video interview at NAREIT’s 2015 Washington Leadership Forum.
MCR Development maintains an active renovation platform and is currently renovating approximately 30 hotels in its portfolio. Morse said the firm is focusing on renovations that “impact the consumers most directly.” These include changes to rooms to accommodate personal electronic devices.
Mitchell Sabshon, CEO of Inland Real Estate Investment Corp., joined REIT.com for a CEO Spotlight video interview during NAREIT’s 2015 Washington Leadership Forum.
Inland sponsors non-listed REITs and also offers privately placed real estate transactions. In 2014, the two businesses made combined acquisitions of almost $1.3 billion, according to Sabshon.
Inland focuses primarily on multi-tenant retail properties, especially shopping center-anchored assets, as well as apartment buildings.
Tim Pire, managing director with Heitman, joined REIT.com for a video interview at NAREIT’s 2015 Washington Leadership Forum.
Pire said he remains optimistic with regard to prospects in the lodging and suburban office markets. The lodging sector is benefitting from continuing improvement in the economy and limited supply, Pire said. Corporate earnings reports and forecasts for 2015 have also been positive, he noted. Suburban office, meanwhile, has benefitted from the expansion in employment, Pire said.
Crown Castle, which became a REIT in January 2014, is the nation’s largest provider of shared wireless infrastructure. Moreland reflected on developments at Crown Castle during the past year.
Demand for industrial space is expected to remain healthy for the rest of 2015, supported by solid economic fundamentals, rising consumer demand and the continued expansion of e-commerce, according to market watchers.
A report from the NAIOP Research Foundation forecasts net demand for industrial space could grow 8 percent in 2015, up from 224 million square feet in 2014.
Mike Graziano, managing director with Goldman Sachs, joined REIT.com for a video interview at NAREIT’s 2015 Washington Leadership Forum.
Graziano said the rise in the number of REITs pursuing investment-grade ratings “makes a lot of sense.” He pointed out that an investment-grade rating allows for “instant and immediate access to capital.” Furthermore, it leads to a lower cost of capital.
Ed Pettinella, president and CEO of Home Properties Inc. (NYSE: HME), joined REIT.com for a CEO Spotlight video interview at NAREIT’s 2015 Washington Leadership Forum.
Pettinella speculated that the apartment market in Washington, D.C., would start to recover in the second half of 2015. He noted that job growth is returning in the area following a period of government spending cuts. Additionally, the supply of apartment units in the region is expected to peak this year.
Philip Charls, CEO of the European Public Real Estate Association (EPRA), joined REIT.com for a video interview during NAREIT’s 2015 Washington Leadership Forum.
EPRA’s mission is to promote, develop and represent the European public real estate sector.