September 14, 2010 marked the beginning of the 50th anniversary year of celebration of the U.S. REIT industry. Fifty years prior, President Dwight D. Eisenhower signed legislation that created a new approach to income-producing real estate investment – a manner in which the best attributes of real estate and stock-based investment are combined.
This special commemorative section of REIT.com was created to help celebrate this historic milestone.
REITs, for the first time, brought the benefits of commercial real estate investment to all investors – benefits that previously had been available only through large financial intermediaries and to wealthy individuals.
Over time, investors responded to this new opportunity, and 50 years after their creation stock exchange-listed U.S. REITs constituted a more than $300 billion equity market with an average daily trading volume of about $4 billion. Public, non-listed REITs in the U.S. now manage assets of more than $70 billion and are adding another $7 billion annually. Outside the U.S., REITs and listed property companies constitute another $700 billion plus, comprising a listed REIT and real estate investment universe of more than $1 trillion.
REITs in the U.S. and increasingly around the world now regularly provide investors with meaningful dividends, portfolio diversification, valuable liquidity, enviable transparency and competitive performance.
A short video from NAREIT President and CEO Steven A. Wechsler with a few reflections on this important day is available by CLICKING HERE. Below you will find video interviews and articles which provide the reflections and thoughts of key industry leaders in connection with the 50th anniversary of REITs.
Also, please be sure to visit the interactive timeline on REITs and the REIT approach to real estate investment which is accessible HERE.
The November/December 2010 issue of REIT magazine also featured extenive coverage of the 50th anniversary.
Congressional Recognition of 50th Anniversary
|Legislative Text and Floor Proceedings|
• Statutory Language of House Resolution 1595, Recognizing the 50th Anniversary of REITs
(as passed by the House of Representatives, September 15, 2010): CLICK HERE to read
• House Consideration of H. Res. 1595 (Congressional Record - House, September 15, 2010),
Including statements by Representatives Spencer Bachus (R-MI), Earl Blumenauer (D-OR), Dave Camp (R-MI), Danny Davis (D-IL), Bill Pascrel (D-NJ), Pete Stark (D-CA), John Tanner (D-TN) and Patrick Tiberi (R-OH): CLICK HERE to read
• House Consideration of H. Res. 1595 (C-SPAN Video Coverage, September 15, 2010):
CLICK HERE to view full session and access additional information on C-SPAN
|• Senator Orrin Hatch (R-UT): CLICK HERE to read the statement|
|• Senator Johnny Isakson (R-GA): CLICK HERE to read the statement|
|• Representative Ron Kind (D-WI): CLICK HERE to read the statement|
|• Senator Debbie Stabenow (D-MI): CLICK HERE to read the statement|
|• Representative Patrick Tiberi (R-OH): CLICK HERE to read the statement|