Niche REITs Like Their Prospects

NEW YORK CITY-To illustrate why they believe in the long-term prospects for their respective sectors, four non-traded REIT executives at a panel discussion Thursday asked for a show of hands. How many in the audience were baby boomers, asked Janice Ryan of Strategic Storage Trust. How many owned cell phones or personal computers, asked John Carter of Carter Validus Mission Critical REIT. How many went to doctors, inquired John Mark Ramsey of Cornerstone Healthcare Plus REIT. How many had roofs over their heads, the Shopoff Group’s Edward Fitzpatrick wanted to know.

All four executives were bullish about the niches their REITs have carved out: self-storage, data centers, healthcare and land development, respectively. “This is the asset class of the future,” declared Carter, CEO and co-founder of the data center REIT, which in March filed with the SEC for a $1.5-billion IPO.