FINC 475 - REIT COMPANIES SUMMARY

Pebble Brook Hotel Trust This REIT was created in 2009, and specializes in investing in Retail properties. In particular, the REIT specializes in up-scale, luxury hotels, predominately located in "Gateway" cities. Pebble Brook Hotel Trust currently owns 25 properties in the USA. Their CEO was from Jones Lang Le Salle, which is a real estate firm based in Houston. As far as financials go,they have a low debt structure, and are known to acquire properties at a 35% discount. Hines Global REIT The Hines company began in 1957. They recently opened a new branch to their company that handles the REIT, which started in 2009. This company is responsible for much of the beloved Houston skyline. The company is public, but not traded in public markets. The company is responsible for 800 properties, which it manages with excellence. They are currently in the fundraising state of the REIT process, and will start investing in properties once they have raised $3.5 billion. If one wants to invest in this REIT, the minimum investment is %$2,500 and claims it will get a 6.5% annual return on the investment. The REIT will specialize in office space, and will sell all properties in 2019, hoping to have increased their value to return maximum profit to investors. American Campus Communities This REIT specializes in student housing communities. The company is known to make deals with universities to create on-campus dormitories, and is also known to invest in off-campus housing. American Campus Communities specializes in up-scale student living. Some examples of their investment in the local arena are Callaway house and villas, and Aggie Station. Because the company's niche is high end student living, the project size must be over $10 million or it is not worth the time or investment. Taubman This REIT specializes in high-end shopping centers or malls. The company is known for it's luxurious retail environments. The company became public in 1992. They are known for their excellent management team and their savvy acquisitions. The average property they own is 23 years old. Their malls have the highest average sales productivity in the nation. The REIT's stock price is currently valued at $78 a share, which is very impressive. Public Storage REIT Public storage is one of the largest members of it's industry. The REIT owns and operates over 2,000 different storage facilities all over the United States. The company opened it's first storage facility in 1972. The investment strategy of the firm is very interesting. Instead of opening new facilities that would take away market share from existing facilities, their strategy is to acquire storage facilities from other companies. SL Green This REIT specializes in office space. Their investments are highly populated in the New York area. It was created in 1980, and the REIT went public in 1997. They are known for their expansive market in the Manhattan area. The company owns interest in 77 properties in the Manhattan area. The company manages all of the properties it acquires. One of their most impressive properties is the building on 1515 Broadway. MY GROUP WAS SIMON