Nareit's REIT Report Podcast

Steve Loffman, managing director at Raymond James, was a guest on the latest episode of Nareit’s REIT Report podcast. Loffman is also a program director and speaker at Nareit’s REITwise : 2024 Law, Accounting & Finance Conference in Hollywood Florida, March 19-21. Loffman described the contours of the REIT capital market landscape today, noting that broadly speaking, “it's been a little b...

This episode of the Nareit REIT Report’s ongoing series, “Building to Zero,” features Dana Schneider, director of energy and sustainability and ESG at Empire State Realty Trust, Inc. (NYSE: ESRT) and continues the discussion related to the real estate industry’s journey to reduce emissions from the built environment. In this episode, Schneider shares how ESRT began the journey on decarbonization m...

Tony Edwards, Nareit’s senior executive vice president, was a guest on the Nareit REIT Report® podcast. Edwards will be retiring from Nareit at the end of March, and in this episode he reflects on some of the highpoints of his career and the major changes in the industry during the past three decades. Edwards said he expects to see more private real estate shift to the public market over time, poi...

Three members of Citi’s global real estate research team—Nick Joseph in the U.S., Aaron Guy in the U.K., and Howard Penny in Australia—were guests on the latest episode of the Nareit REIT Report podcast.  Amid the market cross currents of slower global economic growth, offset to some extent by anticipated lower interest rates, “we are generally constructive on commercial real estate in 2024,” Jose...

Travis McCready, head of life sciences, Americas markets, at JLL, was a guest on the latest episode of Nareit’s REIT Report podcast. McCready said 2023 was one of the most challenging years in memory for life sciences real estate due to a slowdown in the deployment of venture capital, higher interest rates and inflation, and “rather aggressive” real estate development of lab space in the past two...

Laurel Durkay, head of global listed real assets at Morgan Stanley, was a guest on the latest edition of the Nareit REIT Report podcast. Durkay said REITs today are “cheap” versus broader equities. “They do screen attractively versus private real estate. They look compelling versus where REITs have historically traded, and they look pretty fairly valued versus fixed income. The macro backdrop is f...

Jeff Palma, senior vice president and head of multi-asset solutions at Cohen & Steers, was a guest on the latest episode of Nareit’s REIT report podcast. Palma discussed the launch of Real Assets Compass, an interactive tool designed to help institutional investors and financial advisors make informed decisions about strategic allocations to listed and private real estate. “We feel that there&...

John Worth, executive vide president, research and investor outreach at Nareit, was a guest on the latest episode of the REIT Report podcast. Worth outlined some of the key messages in Nareit’s 2024 REIT Outlook, including three reasons that may make 2024 a good year for REITs. He noted that historically, at the end of a Federal Reserve tightening cycle, REITs have outperformed private real estate...

William Maher, director of strategy and research at RCLCO Fund Advisors (RFA), was a guest on Nareit’s REIT Report podcast. RFA’s clients include some of the larger public pension funds, and increasingly non-U.S. investors. Maher said that most U.S. institutional investors today allocate less than 10% of their real estate allocation to REITs. “I think that indicates a big underweight that they&apo...

Gwyn McNeal, executive vice president and chief legal officer at  Extra Space Storage Inc. (NYSE: EXR), was a guest on the Nareit REIT Report podcast. McNeal discussed her role at Extra Space, the merger with Life Storage and issues she has dealt with on the legal and personnel side, legal issues facing all REITs today, as well as advice for those seeking a legal career in the commercial real esta...

Andrew Alperstein, PwC U.S. real estate partner, and Daniel Sullivan, PwC U.S. financial markets and real estate leader, discussed key takeaways of PwC and ULI’s Emerging Trends in Real Estate 2024 report, which incorporates data and insights from more than 2,000 industry experts. One of the main themes of this year's report is what it terms the “Great Reset,” in which old assumptions are no...

Tracy Powell-Rudy, vice president of corporate engagement at Integrate, a nonprofit that helps organizations identify, recruit, and retain autistic and neurodivergent talent, was a guest on the latest episode of Nareit’s REIT Report podcast. Powell-Rudy discussed the level of awareness around neurodiversity in the wider population today, the level of participation for neurodiverse individuals in t...

Doug Weill, founder and co-managing partner of Hodes Weill & Associates, a leading global capital advisory firm, was a guest on the latest episode of Nareit’s REIT Report podcast. Hodes Weill recently released the 2023 Real Estate Allocations Monitor, which showed that institutions’ target allocations to real estate were flat at about 10.8% year-over-year. “Institutions are very cautious in th...

Tom Bartlett, president and CEO of American Tower Corp . (NYSE: AMT), was a guest on the latest episode of Nareit’s REIT Report podcast. Bartlett discussed American Tower’s recently launched Sustainability Report and provided an overview of the REIT’s broader sustainability strategy. He explained that “neutral hosting” is central to the company’s inherently sustainable business model. “Neutral hos...

Aaron Halfacre, president and CEO of Modiv Industrial, Inc . (NYSE: MDV), was a guest on the latest episode of Nareit’s REIT Report podcast. Halfacre discussed Modiv’s evolution toward focusing on industrial manufacturing facilities, after starting out as a diversified net lease REIT. “We discovered that industrial manufacturing facilities were, like us, flying a bit below the radar and also, like...

David Auerbach, REIT industry expert and the chief investment officer of Hoya Capital & Hoya ETFs, was a guest on the latest episode of Nareit’s REIT Report podcast. Auerbach said fundamentals for REITs have remained “very strong,” despite the Federal Reserve’s tighter monetary policy. “If you look at the last quarter, public REITs reported same store property level income about 10% above wher...

Brad Thomas, real estate expert, analyst, and CEO of Wide Moat Research, was a guest of Nareit’s REIT Report podcast. In this latest episode, Thomas discusses many of the themes and topics that appear in his newly released book, REITs for Dummies , including the increasingly important role played by PropTech within the sector. “We've seen PropTech throughout most every property category, in m...

Avis Devine, associate professor of real estate finance and sustainability at the Schulich School of Business at Toronto’s York University, was a guest on the latest episode of Nareit’s REIT Report. Devine discussed new research, sponsored by Nareit, into the sustainability performance of listed REITs and private real estate as well as their approaches toward sustainability commitments and disclos...

Todd Kellenberger, REIT client portfolio manager at Principal Asset Management, was a guest on the latest episode of Nareit’s REIT Report podcast. Kellenberger noted that listed REITs currently trade at significant valuation discounts to both equities and private real estate. He pointed out that the earnings price multiple of REITs versus equities today is over two standard deviations away from th...

Marcos Alvarado, president and CIO at Safehold Inc . (NYSE: SAFE), was a guest on the latest episode of Nareit’s REIT Report. Alvarado said Safehold has made a “tremendous” amount of progress in the last six years in terms of portfolio expansion and growth in enterprise value, “but in the greater scheme of what we're looking to accomplish, I think we're still very, very early on…that&apo...

Travis McCready, head of life sciences, Americas markets, JLL, was a guest on the latest episode of the REIT Report. Speaking in conjunction with the release of JLL’s 2023 Life Sciences Industry and Real Estate Perspective , McCready noted that while Boston and San Francisco remain leading life science markets on a national and international level, other markets in the United States are showing si...

As part of Building to Zero, an ongoing series of interviews on the decarbonization of the commercial real estate sector, Duane Desiderio, senior vice president and counsel for the Real Estate Roundtable, joined a special episode of Nareit’s REIT Report podcast. Desiderio spoke with Nareit’s Senior Vice President of Environmental Stewardship and Sustainability Jessica Long to discuss recent and up...

Richard Barkham, global chief economist, head of global research and head of Americas research at CBRE, was a guest on the latest episode of the REIT Report podcast. Barkham discussed the state of global cross-border real estate capital flows, which totaled $30.5 billion in the first half of this year. That marked a 52% decline from the same period a year earlier and down 44% compared to an averag...

Nicole Funari, Nareit vice president for research, was a guest on the latest episode of the Nareit REIT Report. Funari discussed Nareit’s new project that initially involves tracking quarterly investment holdings for the 28 largest actively managed real estate investment funds that focus on REITs from 2010 to the first quarter of 2023. While performance returns offer a broad market perspective on...

Nareit Senior Vice President for Research Ed Pierzak joined the latest episode of the REIT Report podcast to talk about some of the key findings from Nareit’s 2023 mid-year report. Pierzak noted that two main factors are at play today—the divergence in public and private real estate valuations, and challenges in the capital markets, particularly around refinancing. The public-private valuation gap...