REIT CEOs Encouraged by Market Conditions

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REITWeek 2015, the National Association of Real Estate Investment Trusts (NAREIT) Investor Forum, began this week with a panel where CEOs of major real estate investment trusts expressed optimism regarding fundamentals in their particular market segments and favorable conditions in the capital markets, Sarah Borchersen-Keto of REIT.com noted. “Benjamin Moreland, president and CEO of cell tower REIT Crown Castle International noted that data traffic rose 60 percent in 2014, driven largely by video demand. He added that the company’s revenue stream is growing on an organic basis by about 5 percent per year,” Borchersen-Keto reported. Crown Castle began operating as a REIT on January 1, 2014, and the switch seems to have been beneficial to the company. Borchersen-Keto also explained that when it comes to capital market conditions, David Nunes, president and CEO of Rayonier, Inc., observed that timberland REITs enjoy ready access to capital, while the federal government’s agriculture-based lending programs offer even lower rates. Moreland commented that Crown Castle has “had access to capital all along the way.” (REIT.Com)

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