Nareit Developments

May 11, 2015 - During a brief meeting in Columbus, Ohio, Rep. Patrick Tiberi (R-OH), right, visited with WP Glimcher (NYSE: GRT) President & CEO Michael Glimcher. Glimcher provided an update on the company's recent development activities in Ohio and across the country.

NAREIT is pleased to welcome its newest corporate members: National Storage Affiliates (NYSE: NSA) and Burroughs & Chapin Company, Inc.

NAREIT is pleased to welcome its newest corporate members: Communications Sales & Leasing Inc. (NASDAQ: CSAL), American Realty Capital Hospitality Trust Inc. and American Realty Capital Healthcare Trust II Inc.

Last week, a joint committee of the House of Representatives and Senate in Hawaii approved S.B. 118, a bill calling for a study on the impact of REITs in the state and the potential effect of repealing the dividends paid deduction (DPD)for REITs.

NAREIT’s Investor Outreach team participated in the National Association of Government Defined Contribution Association’s (NAGDCA’s) Annual Industry Roundtable held in Washington, D.C. from April 30 to May 1.

Reps. Kevin Brady (R-TX) and Joseph Crowley (D-NY) introduced a bill on April 30 in the U.S. House of Representatives to reform the Foreign Investment in Real Property Tax Act (FIRPTA).

In April, NAREIT’s Investor Outreach team held direct meetings with a diverse group of 32 investment organizations controlling more than $8 trillion in assets in the institutional investment market.

Members of NAREIT’s Investor Outreach team participated in the Investment Management Consultants Association’s (IMCA) Annual Conference in Las Vegas on April 26 to April 29.

NAREIT and 17 other organizations are supporting the Real Estate Investment and Jobs Act of 2015, which is expected to be formally introduced in the House of Representatives on April 30 by Reps. Kevin Brady (R-TX) and Joseph Crowley’s (D-NY).

The House of Representatives passed two NAREIT-backed cybersecurity bills last week.

NAREIT is pleased to welcome NexPoint Residential Trust (NYSE: NXRT) as its newest Corporate Member. NexPoint is an externally advised Equity REIT focused on the acquisition, management and disposition of multifamily assets.

NAREIT joined a coalition of industry groups on April 21 in requesting an extension of the comment period for a proposed rule from the Department of Labor to impose a fiduciary duty on all retirement savings advisers.