Taubman to Sell Half of its Interests in Asian Shopping Centers to Blackstone

February 14, 2019 · reit.com

Taubman Centers, Inc. (NYSE: TCO) said Feb. 14 that it has agreed to sell half its interest in its three Asia shopping centers to The Blackstone Group in a transaction valued at $480 million. The centers are located in South Korea and China.

On a fourth quarter 2018 earnings call, CEO Robert Taubman said the transaction confirms the value the REIT has created with its Asia platform, noting the company is recycling capital through the deal and improving its liquidity by nearly $500 million.

FTSE Nareit All REITs Index Up 11.4% in January

February 04, 2019 · reit.com

REIT returns rebounded in January, and outpaced the broader market, as volatility continues to be a major factor.

The total returns of the FTSE Nareit All REITs Index rose 11.4 percent in January, while the S&P 500 rose 8.0 percent. The total returns of the FTSE Nareit Mortgage REIT Index gained 9.1 percent, while the yield on the 10-year Treasury note lost 0.1 percent.

In December, the FTSE Nareit All REITs Index fell 7.7 percent.

ESG Forum 2019 Has Record Attendance

January 31, 2019 · reit.com

Nareit's ESG Forum 2019 was held Jan. 31-Feb. 1, with two pre-forum workshops held on Jan. 30. The annual event provides an opportunity for real estate executives to discuss challenges and opportunities with ESG in the REIT industry while advancing the sustainability conversation.

This year's forum had record attendance—69 of the 130 attendees were first-timers. Professionals from 70 REITs were in attendance, representing $687 billion in market cap.