Nareit's REIT Report Podcast

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.

In this episode of the REIT Report special series “Building to Zero,” Bryn Baker from the Clean Energy Buyers Association (CEBA) discusses how energy customers are a powerful voice for modernizing the power system that underpins economic growth and development.The Clean Energy Buyers Association (CEBA) represents members with about $15 trillion in market cap. That's about 400 members who collectively are a community of commercial, industrial, and institutional energy buyers. In this episode, Baker discusses how energy customers drive demand and how CEBA is focused on addressing barriers to energy supply challenges that hold back the demand for clean energy.

LaSalle’s Brian Klinksiek discusses the potential of a new golden era for REITs, highlighting their role as market consolidators. Topics include interest rate fluctuations, global market differences, real estate supply variability, and secular themes impacting the commercial real estate market.

John Worth, Nareit executive VP, discusses REIT operational performance in 2024 mid-year report. Despite stock market underperformance, REITs show high occupancy, positive NOI/FFO growth, and disciplined balance sheets. Analysis includes REIT trends, market convergence, active fund manager positions, and global return trends.

Tim Bodner, U.S. real estate deals leader at PwC, was a guest on the latest episode of Nareit’s REIT Report podcast.Bodner underscored a dynamic real estate market adapting to new economic realities and the importance of leveraging technological advancements to navigate challenges and seize emerging opportunities in 2024.He noted that transaction volume in traditional real estate sectors continues to be lower than a year ago, reflecting persistent challenges such as valuation disparities between buyers and sellers. Meanwhile, ongoing shifts in the financing landscape are resulting in traditional lenders retreating while private credit, especially from insurance-backed alternative asset managers, gain traction.