REITs in the Community

NAREIT has successfully connected Members of Congress with REITs that own and operate properties within their local districts and states. Through onsite visits, ribbon-cuttings, and private meetings, key policymakers have been educated on REITs and what role the publicly-traded real estate industry plays in the local economy. These events, carefully coordinated with the local company, have created a greater understanding about REITs on Capitol Hill. It is NAREIT’s intent to continue to facilitate these grassroot opportunities, where appropriate, with our members in the future. A few examples of several recent events are highlighted below.

We encourage you to get involved with the growing grassroots program at NAREIT. Please contact us about your company’s upcoming projects. NAREIT stands ready to better inform Members of Congress on your company’s activities.

Please contact Leah Cohen at lcohen@nareit.com.

Macerich: Scottsdale Fashion Square Mall

December 22, 2011: Rep. David Schweikert (R-AZ), left, visited Macerich's Scottsdale Fashion Square Mall in Scottsdale, AZ, and met with Dana Anderson, Vice Chairman, Macerich, right. Rep. Schweikert toured the center and then met privately with Mr. Anderson and other Macerich officials, including Fashion Square Mall Manager Steve Helm, to discuss several legislative issues now before the 112th Congress, including passage of the Main Street Fairness Act and reform of the Foreign Investment in Real Property Act. The Congressman appreciated the chance to visit a REIT property located in his congressional district, and indicated he would review these two issues and consider cosponsoring each proposal.

Parkway Properties: The Pinnacle at Jackson Place

October 24, 2011: Senator Roger Wicker (R-MS), third from left, visited Parkway Properties, Inc.’s The Pinnacle at Jackson Place in Jackson, MS. Senator Wicker met with Parkway Properties, Inc. executives, including Charles Cannada (incoming Chairman of Parkway, as of 1/1/12, left), Steve Rogers, Parkway President & CEO (second from left) and David Hoster, CEO & President, EastGroup Properties, Inc (right). Senator Wicker was briefed on the economic impact REITs have on Jackson and Mississippi. In addition, they were informed about several REIT-related issues being pursued in the 112th Congress, including reform of the Foreign Investment in Real Property Tax Act and the future of the Terrorism Risk Insurance Act (TRIA).

Highwoods Properties: RBC Plaza

August 30, 2011: Representative Renee Ellmers (R-NC), center, visited Highwood’s RBC Plaza Center in Raleigh, NC, and met with Highwoods Properties’ executives, including President and CEO Ed Fritsch, right. Also participating in the visit was House Republican Majority Whip Kevin McCarthy (R-CA), left, the third ranking Republican in the House of Representatives, who spent the day in Raleigh with Rep. Ellmers. Reps. Ellmers and McCarthy were briefed on the economic impact the RBC Plaza Center and Highwoods’ other properties have on downtown Raleigh and throughout North Carolina and the country. In addition, they were informed about several REIT-related issues being pursued in the 112th Congress, including reform of the Foreign Investment in Real Property Tax Act and introduction of the US REIT Act to make minor modifications in the REIT rules.

Simon: Towne East Square

August 18, 2011: Rep. Mike Pompeo (R-KS) visited Simon Property Group's Towne East Square in Wichita, Kan., and met with Mike Payton (right), area mall manager. Pompeo and his district director, Lea Stueve, were briefed on the economic impact that the Town East Square and other Simon properties have on the Wichita area. Rep. Pompeo was also briefed on several legislative issues to be pursued during the 112th Congress, including the recently introduced Main Street Fairness Act.

Rep. Cory Gardner meets with REIT CEOs of Colorado

July 11, 2011: Rep. Cory Gardner (R-CO) (center) met at ProLogis’ Headquarters in Denver with the CEO’s of several CO-based REITs to receive an update on the industry and the status of their companies. Pictured with Rep. Gardner are (left to right) Terry Considine, Chairman, President and CEO, AIMCO; Tom Toomey, President and CEO, UDR, Inc.; Scot Sellers, CEO, Archstone; and Walt Rakowich, CEO, ProLogis. During the meeting, Rep. Gardner learned about several legislative issues to be pursued during the 112th Congress, including reform of the Foreign Investment in Real Property Tax Act and introduction of the US REIT Act to make minor modifications in the REIT rules.

Education Realty Trust: Storrs Center

June 29, 2011: Rep. Joe Courtney (D-CT) (left), Governor Dannel Malloy (D-CT) (center), and Thomas Trubiana (right), Chief Investment Officer, Education Realty Trust, commemorated the ceremonial groundbreaking of Storrs Center, a new development that will serve as a mixed-use town center and main street corridor for the Town of Mansfield, and the University of Connecticut. Education Realty Trust was selected to provide collegiate housing for the development.

To learn more about NAREIT's growing grassroots program, visit our REITs in the Community Archive.