Jeff Edison, chairman and CEO of Phillips Edison & Company, Inc. (Nasdaq: PECO), and James Corl, head of the private real estate group at Cohen & Steers, were guests on the latest episode of the Nareit REIT Report podcast.PECO and Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) have formed a joint venture focused on acquiring open-air grocery-anchored shopping centers. The joint venture is 80% owned by CNSREIT and 20% by PECO and is targeting $300 million in equity. In the interview, Edison and Corl discuss the clear benefits they see from their partnership, their shared perspectives on what makes a strong investment in the sector, and the outlook for future growth.

Brendan Cooper and Jared Morris, directors at Teacher Retirement System of Texas (TRS), joined the latest episode of Nareit’s REIT Report podcast to discuss how TRS tactically invested in REITs during a period of public and private real estate valuation divergence.In 2022, the TRS Strategic Property REIT Execution and Delivery (SPREAD) team were monitoring a sell-off in public REITs and were ready to take action. One quarter of TRS’s total $400 million commitment was initially invested in December 2022, half was deployed in March 2023, and the remaining quarter was invested in October 2023. During that period, the internal rate of return achieved by TRS was 17.1%.

Colin Trovato, portfolio manager at Ranger Global Real Estate Advisors, was a guest on the latest episode of Nareit’s REIT Report podcast. Trovato discussed housing trends and the role of the single family rental (SFR) sector in helping to alleviate the shortage of supply.Trovato discussed the impact of rising interest rates on home ownership and the demand for SFRs. Higher rates since 2022 have increased home buying costs and reduced housing inventory, as many current homeowners are reluctant to move due to their favorable mortgage rates. This scarcity has boosted demand for SFRs, making renting more attractive compared to buying.

Ashley Fox, CEO and founder of Empify and the WealthBuilders Community App, was a guest on the latest episode of Nareit’s REIT Report podcast. She spoke about the efforts Empify has undertaken to educate individuals with limited funds and investment experience, enabling them to build a financial foundation and begin building wealth.Fox left a career on Wall Street in 2013 and set out to “financially empower the 99% that Wall Street often overlooks.” She created Empify with a goal to become the middleman between financial institutions and the everyday person, “because I understood the language of Wall Street, but I also understood the language in the hearts and minds of both adults and children and Empify bridges that gap.”Empify has launched over 10,000 brand new investors, Fox said, adding that members of the WealthBuilders Community App have invested over $650,000 in REITs. She noted that a key takeway from Empify’s five-week REIT Investing Accelerator program is the extent to which REIT-owned properties are a consistent feature of investors’ everyday lives.This episode is supported by LoopNet.

In this episode of the REIT Report special series “Building to Zero,” the U.S. Green Building Council’s Heather Payson and Wes Sullens share their perspectives on the building sector’s sustainability journey and the path forward for decarbonizing commercial real estate.When USGBC was founded over 30 years ago and the first version of LEED was released, it established a clear and understandable framework to measure and define “green buildings.” Today, LEED has become a widely used rating system around the globe and, as a recognized indicator of leadership, has become an indispensable resource for the buildings community at large.“There's just so much going on in this space, and the urgency is greater than ever. We have to balance the urgency of what the market needs with what's possible. While things like policy help establish a floor…. it's become even more challenging to [define] what leadership means in these times,” shares Wes Sullens, LEED Fellow and Director at USGBC. “We use our group of volunteers and experts… that help us write our rating system. It's not something we cook up in a vacuum, the idea is to make sure LEED is that consensus standard for leadership, which I think is a unique place in the market.”

Ranjini Venkatesan, vice president and senior credit officer at Moody’s Ratings, was a guest on the latest episode of the Nareit REIT Report podcast.Venkatesan discussed how capital investment levels have been high for both Digital Realty (NYSE: DLR) and Equinix, Inc . (Nasdaq: EQIX), and are expected to remain so.“Over the last three years, annual investment by Digital Realty and Equinix averaged 5.5 % of their gross asset base, which is high,” she said. Both REITs have demonstrated the ability to raise capital at healthy pricing through different credit cycles and with strong leasing execution for the properties being built, she added.This episode is supported by LoopNet.

Scott Stubbs, executive vice president and CFO of Extra Space Storage Inc . (NYSE: EXR), joined the latest episode of Nareit’s REIT Report podcast. During the interview, Stubbs reflected on professional and personal accomplishments and challenges surrounding the REIT’s 2004 IPO and discussed further growth opportunities ahead.August marks the 20th anniversary of the Extra Space IPO. Stubbs noted that in 2004, self-storage was not considered a core asset class for a real estate investor.“We were a bit of an outlier at the time and there were still some negative connotations about self-storage. I think that it did take some time to help people understand that self-storage is a great asset class. It's very stable. It is institutional,” Stubbs said.This episode is supported by LoopNet.

Dominique Moerenhout, CEO of EPRA, the European Public Real Estate Association, was a guest on the latest edition of Nareit’s REIT Report podcast.Moerenhout discussed political changes underway in Europe and the U.K. today and their impact on listed real estate. He noted that the EU's new competitiveness focus will create a more business-friendly environment, while the U.K. Labour party’s proactive policies and commitment to a new industrial strategy are “very welcome.” At the same time, political uncertainty in France following recent elections poses “significant risks,” he said.“Investors will need to navigate these varied landscapes carefully, balancing their opportunities with the potential changes ahead. The return to, in my view, a normal real estate transactions market will probably take more time than initially anticipated or hoped for,” Moerenhout said.This episode is supported by LoopNet.

Chad Tredway, managing director and head of real estate Americas at J.P. Morgan Asset Management, was a guest on the latest episode of the REIT Report podcast.Tredway said the current environment represents “the best buying opportunity” for commercial real estate. Fundamentals are strong and investors are in a position to purchase assets at a 10% to 30% discount compared with pre-2022 levels, “which represents an amazing return.”“Now is a great entry point for those that have capital. And we also see hope on the horizon as we believe rates will come down...we think it's a great time to think about long-term investment in this space and we do believe in real estate as a long-term anchor for portfolios,” Tredway said.This episode is supported by LoopNet.

David Bonser, global managing partner of the corporate practice and global co-head of the REIT practice at Hogan Lovells, was a guest on the latest episode of the Nareit REIT Report.Bonser discussed the current state of the capital markets for REITs and the most popular methods for raising capital.“You are seeing people lock in to raise debt capital because they've held off for a couple of years, and you do need to get your debt balance sheet in order, so we're seeing a lot of activity there,” Bonser said.