Internacional

REITs

Vivemos em um mundo globalizado e dinâmico,  onde as mudanças e oportunidades estão por toda parte.

Estamos aqui no Blog, sempre ligados nas tendências e a mais recente são as oportunidades de investimento fora do país.

Também buscamos atender sempre às solicitações dos amigos e esta foi com certeza a mais recorrente nos últimos dias.

Global

Vejo fundos de investimento sendo criados, focados no mercado externo, vejo a discussão cada vez mais incidente sobre os REITs ( os FIIs americanos ), vejo uma preocupação cada vez maior com o intervencionismo do governo e grandes investidores optando por ações de empresas em outros países.

São preocupações justificadas?  Saberemos aqui 😀

REITS

Se mais alguém tiver interesse por REITs (Real Estate Investment Trust ou FIIs americanos) e puder complementar …

Basicamente são de 3 tipos:

Os de Hipoteca (Mortgage), os de Investimento (Equity REITs) e os Híbridos (uma mistura dos dois).

Mortgage REITs: possuem retornos maiores, devido ao risco maior a que se expõem. Quem lembra da crise recente, as hipotecas são justamente onde o fato explodiu. São equivalentes aos financiamentos, podem proporcionar grandes retornos ou grandes perdas.

Equity REITs: esses seriam os mais próximos que temos em relação aos nossos FIIs, onde o objetivo é a exploração do imóvel para aluguel e obtenção de renda.

Hybrid REITs: Mais ou menos um FII de FIIs de lá, onde ambos os tipos são mesclados, aproveitando o que de melhor cada um tem e tentando minimizar o que há de pior (risco).

o recebimento dos rendimentos também é bem complicadinho; aqui nosso rendimento é isento e divididos em Amortização ou Rendimento. Lá existe um terceiro tipo que separa o ganho de capital ( Rendimento de Aluguel, Amortização e Ganho de Capital ).

o imposto depende da sua renda.

Mais informações:

http://www.investopedia.com/terms/r/reit.asp

http://www.reit.com

http://us.spindices.com/indices/equity/sp-united-states-reit-us-dollar

Tributos Envolvidos

http://seekingalpha.com/article/1233411-understanding-the-taxation-of-reit-distributions

Lista de REITS

http://www.reit.com/Investing/ListofREITFunds/MutualFunds.aspx

Busca de Dividendos

http://www.dividend.com

http://www.dividendchannel.com/slideshows/?slideshow=mreits&page=1

* Contribuição do amigo Eric:

“eu vejo nesse site http://www.dividend.com, como por exemplo o OLP http://www.dividend.com/dividend-stocks/financial/real-estate-development/olp-one-liberty-properties/ tem os rendimentos recentes e para quem paga tem o histórico.”

* Contribuição do XReis:  Top REITs

http://money.usnews.com/funds/etfs/rankings/real-estate-funds  

* Contribuição do Trix

O que qualifica uma empresa como um REIT?

• Invistir em pelo menos 75 % de seus ativos totais no setor imobiliário;
• Deduzir pelo menos 75 % de sua receita bruta de aluguéis de imóveis, juros sobre hipotecas de financiamento imobiliário ou de venda de imóveis;
• Pagar pelo menos 90 % de sua renda tributável na forma de dividendos aos acionistas em cada ano como, resultado, REITs não podem geralmente deixar de distribuir seus ganhos;
• Ser uma entidade que é tributável como uma corporação;
• Ser gerida por um conselho de diretores ou administradores;
• Ter um mínimo de 100 acionistas e não ter mais de 50 % de suas ações detidas por cinco ou menos pessoas.

959 comentários em “Internacional”

  1. @TriX … por favor , me permita! compartilhar … VEJA só como anômala a coisa toda é !!

    O Choice Properties Real Estate Investment Trust é o maior REIT do Canada, com Patrimônio Líquido de cerca de CAD$ 16 bilhões. [cerca de astronômicos R$ 60 Bilhões]. São 726 imóveis sendo cerca de 576 REDES DE VAREJO [predominantemente SUPERMECADOS!!], 113 Logístico / Industrial, 15 Office e outras merrecas lá.

    O FUNDO é predominantemente SUPERMERCADOS e GALPÕES LOGÍSTICOS de armazenamento de alimentos pertencentes ao grupo Loblaw Companies Ltd. [o equivalente ao grupo nosso “Pão de Açúcar”, etc.] que estão 100% ABERTOS por serem “serviços essenciais”.

    Mesmo assim … mesmo estando 100% ABERTOS e gerando RECEITA com VENDAS DE ALIMENTOS, pois a população precisa COMER!! (quão “arriscado” essa receita está ? Até por questão de sobrevivência !!), e portanto gerando renda para pagamento de ALUGUEL dos estabelecimentos … dá uma olhada no gráfico:

    Seguindo o mesmo “padrão” PANIC-mode de -50% de queda.

    éprákabá …

    Curtido por 1 pessoa

  2. REITs work to mitigate COVID-19 impact

    In the latter half of last week, three real estate investment trusts—Chatham Lodging Trust, Park Hotels & Resorts and Summit Hotel Properties—offered insight into the steps they have had to take to mitigate the financial impact of the COVID-19 pandemic.

    Chatham Lodging Trust

    Thursday afternoon, Chatham Lodging Trust provided an update on how its 134 hotels had been performing during the pandemic

    “The hotel industry is in the midst of unprecedented disruption due to the extreme severity of the COVID-19 pandemic, and occupancy across the hotel industry has plummeted to levels never before experienced,” Jeffrey Fisher, Chatham’s president/CEO, said in a statement. “Our hotels are no different, but contrary to other hotel companies that are closing the majority of their hotels, our hotels are faring a bit better with occupancy over the last week of 19 percent across our portfolio. Thankfully, we have been able to provide accommodations to our nation’s military, infrastructure related workers, first responders and critical medical workers dedicated to ending this pandemic. Unfortunately, our hotels also have had to lay off, furlough or significantly reduce hours for thousands of team members over the last few weeks. Conditions may change that warrant closing certain locations, but as of today, all hotels are open.”

    Chatham listed several actions it had taken to mitigate the operating and financial impact of COVID-19, including:
    •Suspending its monthly dividend, preserving approximately $5.3 million per month and approximately $64 million on an annual basis.
    •Reducing its 2020 capital expenditures budget by approximately $10 million, or 45 percent.
    •Drawing down cash on its unsecured credit facility, increasing its cash liquidity position to approximately $55 million.
    •Temporarily reducing compensations for its executive officers.
    •Lessening compensation for its board of trustees.

    Park Hotels & Resorts

    Thursday morning, Park Hotels & Resorts offered its update. Of its 60 hotels, it said nearly half had suspended or were suspending operations. The REIT said it expects to keep its remaining hotels open under reduced operations so long as incremental savings are achieved.

    The REIT noted it and its hotel management companies were pursuing alternative sources of revenue from applicable government authorities and hospitals such as providing temporary lodging for first responders, other medical personnel, military personnel, displaced guests and local residents.

    As a precautionary measure, Park said it had drawn the remaining $650 million of its $1 billion unsecured revolving credit facility, bringing the REITs cash on hand to approximately $1.3 billion. On April 15, it plans to pay from these funds its previously announced quarterly dividend of $0.45 per share.

    Summit Hotel Properties

    Summit Hotel Properties, a REIT with 72 hotels in its portfolio, provided its own update Wednesday evening. The company outlined several steps it had taken to mitigate COVID-19’s financial impact:
    •It implemented comprehensive cost reduction initiatives, including the reduction of labor and elimination of certain services and amenities, at all hotels. Additionally, it said it will temporarily suspend operations at certain hotels in response to specific government mandates or as a result of adverse market conditions.
    •The REIT postponed all nonessential capital improvement projects planned for 2020 beyond those already completed or substantially complete, which it expected to reduce total capital expenditures by approximately $35 million.
    •It said it intends to suspend the declaration and payment of dividends on its common stock and operating partnership units beginning with the first quarter of 2020. This, it said, will conserve $19 million of cash quarterly, or $75 million on an annualized basis.
    •The REIT drew an additional $125 million on its $400 million unsecured revolving credit facility.

    by Chuck Dobrosielski | Mar 30, 2020 12:42pm

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  3. Nareit’s Calvin Schnure on COVID-19’s Impact on REITs and What’s Next

    The Nareit senior economist discusses how REITs have been impacted by COVID-19 and today’s economic fundamentals.

    Even in its earliest stages, the novel coronavirus has quickly done a number on the U.S. economy.

    The damage propelled the Senate to pass a $2.2 trillion stimulus bill on Wednesday, which came on the heels of recent action from the U.S. Federal Reserve and the U.S. Department of the Treasury to help establish support for some sectors, including the commercial mortgage market.

    Publicly-traded and non-listed equity and mortgage real estate investment trusts (REITs) wrapped up last year on a record note and rode that momentum into the first two months of this year before the novel coronavirus stopped the segment — and the country — in its tracks. A 10-year run of incontrovertible positivity in the commercial real estate space was wiped out in a matter of days as equity dollars moved to the sidelines and banks constricted — the two main avenues to which REITs fund themselves, via repurchasing agreements. Many segments of the publicly-traded REIT space saw investors flee while a liquidity crunch ensued that put pressure on these traditionally defensive investment vehicles.

    Calvin Schnure, a senior economist with the National Association of Real Estate Investment Trusts (Nareit), spoke with Commercial Observer this week to discuss what’s unfolded and how equity and mortgage REITs have been impacted by today’s economic fundamentals.

    Commercial Observer: Broadly, what’s happened to economic fundamentals and how has that impacted REITs?

    Calvin Schnure: There’s just been a sudden stop in cash flows. [No company could have planned] for losing all their revenues for a four to six week period. And this has a cascading effect; [for example], if a retailer all of a sudden is short on cash, they have many counterparties [to deal with], like their employees but also their landlords, their vendors and their lenders. That’s how it spreads through the economy, and that’s how the financial markets are reacting to it right now. The encouraging signs on the policy front is that the Fed and the Treasury and now Congress [have reacted] quickly to address these issues. In particular, we’ve seen over the past week an intensification of the financial strains, where people are now calling into mind what happened in 2008. But, the Fed has acted, and in the course of about a week, they’ve put in the full range of policy support programs that took them several months to arrange in 2008. That directly affects commercial real estate.

    REITs were in a very solid position for anything other than an immediate cash flow crisis. But you couldn’t prepare for this. [Prior to the global financial crisis], that cash flow crisis unfolded over 18 months, from early 2007 to late 2008. This has taken eight days, so that’s why people are scrambling.

    [This year] began where REITs had the highest capital and lowest leverage that they’ve had in 20 to 25 years. They’ve lengthened the maturities on their debt, so they don’t have a whole lot of near-term obligations. They have a lot of liquidity resources; they have cash and securities but more importantly, they have lines of credit that are enough to handle a whole year, or even several years, worth of interest payments. Most REITs are pretty well covered for handling the immediate crisis. And their operating [statistics] were good; they’ve started the year with occupancy rates at or near record highs. Their tenants are going to come under stress, but they’re coming under stress from a position of good strength — but we’re going to see how that is tested — but they’ve had record earnings, so this is a much better position to face a crisis than if they had had mediocre earnings and a lot of vacancies. They’re well braced for this.

    Tell us about the REIT sectors that are really laboring the most because of COVID-19’s spread.

    There’s a lot of variation across the sectors. There are some that are really on the frontlines, like the lodging and resort [REITs]; that was the first part of the business world that was being shut down. They’re feeling some of the most immediate effects. Another sector on the frontlines is the retail [REITs] because part of the social distancing efforts means people aren’t going to shop at malls. And there’s a lot of differences there with the store, between the larger, national retailers and the smaller local stores. But anyway you look at it, lodging and regional malls and retail are easily facing some of the biggest cash flow issues.

    What about other sectors that make up the REIT space?

    In the apartment sector, I’m a little surprised at how much the stocks have sold off, because the apartment REITs own some of the best-quality properties, with high-income tenants and they have very low vacancy rates. I’m pretty sure those tenants are going to be there on December 31 and they’re going to make every one of their rent payments. With offices, it’s a mixed picture over the last couple of years, but office REITs generally have investment-grade tenants and pretty good occupancy and [most of them] have got solid balance sheet positions. These are sectors that have more resources to deal with the current challenge. And if you look at data centers and cell towers, these are sectors that are providing the backbone for the internet. The data centers house the servers for operating cloud computing and communications and the infrastructure — the cell towers — are transmitting it. These two sectors, up until the last week or two, were actually holding onto gains for the year. Now the stock market turmoil overall has pushed them down, but this is an area where real estate, for an investor, is often viewed as a way to diversify their exposures. Even within REITs, yes there are some that are very exposed to this crisis but there are others that have long-term leases — like apartments and offices — that probably aren’t facing a near term crunch, and then, you have some that have possible tailwinds from the reliance on e-commerce and communications.

    What about mortgage REITs?

    There are the home financing REITs and the commercial financing REITs, and both parts of that sector, right now, are just focused on maintaining liquidity in a very challenging financing environment. And they’re not alone in this. The Fed has been purchasing Treasury securities and agency mortgage-backed securities — they recently announced the agency commercial mortgage-backed securities — because with this kind of uncertainty, basically every investor wants cash and very few people want to take on any risk at all and these mortgage securities have to be financed so people are working hard to maintain their credit. The good thing is they had reduced their leverage from what they had had during the previous crisis. But nevertheless, when you’re in a finance business, you have to arrange your liquidity and your financing everyday.

    By Mack Burke March 27, 2020 3:00 pm

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      1. @TRiX ! Coincidência enorme, meu caro!!! Estava justamente nesse momento olhando o gráfico das três maiores … REITS de TELF. CELULAR

        >>> O gráfico de 1 ano segue o mesmo padrão das quedas dos outros REITS… enquanto que a mesma magnitude de queda representa quase nada em prazos mais longos (5 anos); seguem tranquilos, tranquilos!!

        Curtido por 1 pessoa

  4. All REIT Sectors Hit With Stock Dip

    Last week we began a series of market commentaries tracking the performance of the REIT property sectors through the early stages of the coronavirus crisis. Given the rapidly changing landscape, we will continue to provide brief updates on returns each week.

    Conditions worsened significantly over the past week, both in terms of the expected economic impact of the disruptions to activity in response to the virus, and also in stock market returns. The S&P 500 had a total return of -14.95% last week, nearly twice as large a decline as in the preceding week (memo item in table below).

    Nearly every REIT sector saw an acceleration of price declines as well. Sectors with the largest declines last week (more than 30% declines) include both commercial financing and home financing mREITs, retail, specialty and diversified REITs.

    There were several sectors that had only modest declines in the week of March 13, including self storage, infrastructure and data centers—which had actually posted a 4% gain. Last week, however, these sectors posted double-digit negative returns, albeit still less than other REIT sectors.

    Two sectors that had registered some of the largest declines one week ago saw some moderation of declines last week. Lodging and resorts and health care REITs still posted significant declines of roughly 23%, however.

    3/23/2020 | By Calvin Schnure

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    1. A lógica do Sr. Mercado sempre, sempre, sempre me desafia …

      Eu sou cotista do “NorthWest Healthcare Properties REIT” que possui HOSPITAIS e outros imóveis da área de saúde (+300 !!) em vários países como Canada, Germany, Australia/NZ, Holanda e VÁRIOS até no Brasil!!!

      É de se esperar que, em um momento como esse … quando essas instalações serão as mais requisitadas, mais demandadas, mais utilizadas … que a renda por elas geradas também seriam proporcionalmente MAIORES a esse aumento de demanda.

      Mas aparentemente… NÃO !! Não é assim que o Sr. mercado vê. O que se vê … eu sinceramente, não sei !!

      Assim .. FICA DIFÍCIL, muito DIFICIL ser investidor consciente, dsiciplinado, informado… sério.

      Curtido por 1 pessoa

    2. >>> Diversificação é bom mesmo em época de vacas gordas … do “crash” ORQUESTRADO ninguém escapa! Acima, uma simples coletânea de alguns REITS . REPARE(m) no PADRÃO DA QUEDA…. por isso nem me importei em nomeá-los … é tudo farinha do mesmo saco. Lamentável o que se tornou o mercado robotizado mundial …

      Curtido por 1 pessoa

  5. Hoje o REIT queridinho de todos (Realty Income Corp NYSE: O ) chegou a 49,36 USD (Yeld 5,74%). Neste momento, obviamente nao vale a pela enviar dinheiro para os EUA para comprar. Mas somente gostaria de mostrar que mesmo com as quedas atuais tem FII brasileiro com yeld menor que este. Meu ponto de corte para este REIT e’ 6% e logo logo chegaremos la.

    Curtido por 1 pessoa

    1. >>> Esse daqui … quando estava no “fundo” (CAD$ 34), ninguém queria. Começou a subir, e aí o povo empolgou ! Quis parar nos 60inha, mas a empolgação foi tanta que foi até os 70inha e quebrados. Retorno de 1 ano: 100% !! Nessa queda “horrenda” de agora, recuou seus 20 paus, ainda com ganho de uns 50% !!! no período. RESILIENTE é pouca palvra para descrevê-lo. Em tmepo .. dentre os ativos do Fundo há várias UHE no Brasil.

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  6. Has Real Estate or the Stock Market Performed Better Historically?

    For the majority of U.S. history – or at least as far back as reliable information goes – housing prices have increased only slightly more than the level of inflation in the economy. Only during the period between 1990 and 2006, known as the Great Moderation, did housing returns rival those of the stock market. The stock market has consistently produced more booms and busts than the housing market, but it has also had better overall returns as well.
    Any results derived from comparing the relative performance of stocks and real estate prices depend on the time period examined. Examining the returns from just the 21st century looks very different than returns that include most or all of the 20th century.

    Historical Evidence
    Reliable data on the value of real estate in the U.S. is relatively murky before the 1920s. According to the Case-Shiller Housing Index, the average annualized rate of return for housing increased 3.7% between 1928 and 2013. Stocks returned 9.5% annualized during the same time.
    The inflation-adjusted appreciation on the Dow Jones Industrial Average (DJIA) over the same 84-year period was 1.6% per year. Compounded over time, that difference resulted in a fivefold greater performance for the stock market.
    There aren’t many investors with an 84-year investment horizon, though. Take a different time period: the 38 years between 1975 and 2013. A $100 investment in the average home (as tracked by the Home Price Index from the Federal Housing Finance Agency (FHFA)) in 1975 would have grown to about $500 by 2013. A similar $100 investment in the S&P 500 over that time frame would have grown to approximately $1,600.

    Apples and Oranges
    While stock prices and housing prices both reflect the market value of an asset, one should not compare houses and stocks for market returns only.
    Stocks represent an ownership interest in a publicly traded company. They are not tangible, physical assets and serve no utility other than a store of value and a liquid security instrument. While there is some reason to believe that the overall stock market would gain in real (as opposed to nominal) value over time, there is little reason to believe that a single stock should grow in perpetuity.
    Real estate is not like stocks. Some people speculate with real estate prices, but commercial and residential real estate serve tangible functions. People live in houses and condominiums. Businesses operate out of commercial property. Physical property has value in and of itself.
    This introduces two conflicting phenomena. On the one hand, existing real estate structures should naturally lose value over time through wear, tear and depreciation. An unmodified home has no reason to grow in value over time; all of the floors, ceilings, appliances and insulation age and becomes less valuable.
    On the other hand, the average homes built in 2015 were arguably superior to the average homes built in 1915. While existing structures shouldn’t gain value, new structures should be more valuable on the basis of their structural and functional improvements.
    From 1968 to 2009 the average rate of appreciation for existing homes increased around 5.4% per year. Meanwhile, the S&P 500 averaged an 8.2% return; small cap stocks averaged 11.5% per year. The rate of inflation was around 4.5%. We don’t expect real estate investments to grow much more than inflation.
    But numbers don’t tell the whole performance story. You also have to look at the impact of tax advantages, income yield, and the fact that real estate investments often allow for significant leverage (you can finance a home purchase, putting no more than 20% of your own money down, for example). Of course, if you buy real estate directly, you also need to factor in your time in managing the property and maintenance and repair costs. Comparing the rates of return has to include all these elements.

    By Sean Ross | Updated Jul 15, 2019

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  7. The Coronavirus, Commercial Real Estate and REITs

    The coronavirus crisis is rapidly evolving and there is a great deal of uncertainty about the extent and severity. First and foremost, this is a public health issue threatening the health and possibly lives of many people. It is becoming increasingly clear, however, that the disruptions caused by the epidemic will have an impact on economic activity and asset valuations.

    Until recently, most of the economic concerns were about activities outside the United States: cruise ships, other travel, the global supply chain and shortages of critical components made in factories in China. With the discovery of infections in several states in this country, however, it appears inevitable that there will be more extensive disruptions and economic losses within the U.S.

    To gauge the impact on the U.S. economy and commercial real estate and REITs, it is important to keep in mind the distinction between spending and investment that may be delayed but will take place later, versus spending and investment that is cancelled completely.

    We have not faced a crisis like the coronavirus epidemic before, but there have been events like hurricanes, earthquakes, and large-scale labor strikes that caused large but temporary delays in economic activity. Most of these events were followed by a rebound. If the spread of the virus can be slowed, we may see a repeat of the “V-shaped” recovery from the past.

    A more severe spread of the disease could cause factory closings, businesses shut down, and a more damaging impact on economic activity. Service businesses, including hotels, airlines, restaurants and movie theaters would feel some of the worst effects. Among REITs, this could affect the lodging and resort sector and regional malls.

    Other sectors, however, may feel less of an impact due to their long-term leases. An apartment REIT with low vacancy rates will still have their tenants paying rent, and may not suffer any lost income. Similarly, an office REIT with investment grade tenants is not likely to experience a drop in occupancy or rent receipts. Indeed, if a desire to avoid crowded areas leads more people to do their shopping online, the industrial REITs that operate logistics facilities for shipment of goods bought on the Internet may gain some business.

    It is still too soon to tell what scenario is most likely. For now, though, it is important to note that the U.S. economy, with low unemployment, robust job growth and rising incomes, and the commercial real estate sector, with low vacancy rates and rising rents, are about as well-positioned as possible to handle such a shock.

    3/5/2020 | By Calvin Schnure

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    1. AntigoNovo , dê uma olhada nos posts mais antigos, o pessoal comenta as corretoras que usam. De início pesquise XP Securities, DriveWealth, Ameritrade, são algumas corretoras usadas dentre outras.

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  8. A TEMPESTADE … lá e cá … NÃO sÃO IGUAIS

    >>> @Trix… permita-me compartilhar aqui no seu espaço um snapshot de duas carteiras imobiliárias. À esquerda, minha carteira de REITs … VERDINHA! SEM STRESS e na média beirando a estabilidade. À direita… minha carteira de FII… VERMELHA e na média caindo seus 3%. O problema **não** é o mercado em si, mas o DESLUMBRE dos gestores profisisonais e a sardinhada MANADA que vive a REBOQUE do noticiário e das intenções irracionais. EM Momento de stress… REIT deveria ser REFÚGIO, como acontece lá. Já aqui … é tratado como papel de empresa fosse. LAMENtáVEL !

    Curtido por 1 pessoa

    1. Pois é, tanto REITs quanto FIIs são lastreados em imóveis, portanto um porto seguro, ou títulos de dívidas. O problema aqui a meu ver é que nos últimos anos começaram a utilizar FIIs como ferramenta de trade, distorcendo a visão do mercado sobre os FIIs, outros vieram sem ter perfil para renda variável, considerando FIIs quase uma renda fixa, e outros vieram apenas de olho nos ganhos de capital, por que subia sem parar, agora vendem. Mercado de alta proporciona ganhos, não importa pra onde se atire, já mercado de baixa é onde o bicho pega, onde separa quem compra com critérios para longo prazo de quem sai comprando qualquer coisa.

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  9. Americold Goes South for Latest Acquisition

    Under a joint venture, the company has agreed to purchase a 15 percent stake in a leading Brazilian cold storage operator.

    Americold Realty Trust has entered into a joint venture under which it will purchase about 15 percent of SuperFrio Armazéns Gerais SA, a leading temperature-controlled storage operator in Brazil. SuperFrio currently operates 16 facilities, totaling 35.1 million refrigerated cubic feet.

    The acquisition reportedly is valued around $28 million (about BRL 118 million) in cash consideration. Americold expects to fund the acquisition with a combination of cash on hand and revolver proceeds. The deal includes a provision that gives Americold the option to acquire full ownership of SuperFrio starting in 2023.

    Under the agreement, Americold commits to funding up to an additional $30 million (about BRL 127 million) at its pro-rata share for the joint venture’s acquisition and development activity over the next two years.

    In the meantime, Americold will gain a seat on the board of directors of SuperFrio, which is currently owned by Pátria Investimentos, a Brazilian private equity firm with about $14 billion of assets under management. The closing is subject to customary conditions and is expected to take place in the first quarter.

    Americold noted in a prepared statement that Brazil, the world’s ninth-largest economy, is a key market in the global food chain, as a leading exporter of beef, poultry and other commodities.

    As of press time, neither Americold nor SuperFrio had responded to Commercial Property Executive’s requests for additional information.

    From north to south

    Americold, of Atlanta, is the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. In November, Americold went north for an acquisition, buying Nova Cold Logistics, a Canadian temperature-controlled warehouse operator, from Brookfield Business Partners L.P. The approximately $254 million transaction encompassed three Nova Cold locations totaling 23.5 million cubic feet, plus additional acreage for future expansion.

    SuperFrio was ranked as the fourth-largest refrigerated warehousing and logistics provider in Latin America and the Caribbean in 2019 by the International Association of Refrigerated Warehouses.

    Feb 24 2020
    By Scott Baltic

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  10. 2020 REIT Returns

    As of Feb. 3, 2020, the multifamily sector index was ranked third of all property sectors, posting a one-year total return of 18.4 percent.

    https://media.atre.yardi.com/2/115901/images/320_REITs_return.png?w=550&h=413

    As of Feb. 3, 2020, publicly traded U.S. equity REITs posted a 16.8 percent one-year total return. The manufactured homes REIT sector topped the chart with a 43.1 percent total return, beating the broader U.S. equity REIT index by 26.3 percentage points. The industrial and multifamily REIT sectors followed with 32.5 percent and 18.4 percent one-year total returns, respectively. On the other end of the spectrum, the regional mall sector had the lowest one-year total return of -25.6 percent. The hotel sector was second lowest among the sectors, with a -8.3 percent one-year total return.

    As of Feb. 3, 2020, the multifamily sector index was ranked third of all property sectors, posting a one-year total return of 18.4 percent. Among the multifamily-focused REITs, BRT Apartments Corp. delivered the highest one-year total return of approximately 49.7 percent. Following that was Independence Realty Trust Inc. and Mid-America Apartment Communities Inc. with 49.3 percent and 37.9 percent one-year total returns, respectively. Apartment Investment and Management Co. posted a 10.4 percent return for the year, the lowest among the total returns of multifamily index constituents.

    Diana Rose Barrun is an associate in the real estate client operations department of S&P Global Market Intelligence.

    —Posted on Feb. 21, 2020

    Feb 21 2020
    By Diana Rose Barrun

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