Comments by:
William J. Conti
Partner
Baker & Hostetler
Washington, DC
Last week's UpClose with American Ventures' Philip Blumberg raised some interestingafter-thoughts about the state and future of the REIT market,enough to prompt last week's Feedback Poll on whether or not theDay of the REIT is past. Well, 75% of our respondents said no, thattrusts, despite their current status as sitting ducks (to useBlumberg's phrase) are here to stay. Commentator Conti--aWashington, DC-based attorney who heads up the firm's businessgroup--agrees. Here's why:
"We're seeing bigger REIT deals than we've ever seen before, andthey've gotten some attention, but I don't think it's any more areflection of the REIT industry per se than any kind of activity inany of the other industries. It's a function of the fact that wehave a very strong economy and there are a lot of sources of money.It's relatively cheap. The stock market is good so stocks arehighly valued. So, to the extent that you're looking at acquirerswho could use their stock as currency, that's up.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
