Edward H. Linde, co-founder and CEO of Boston Properties, has died as a result of complications from pneumonia, the company announced Jan. 10.
REITs saw a strong recovery and year-end performance in 2009. The FTSE/NAREIT All REITs Index increased 6.43 percent in December, bringing 2009 total returns to 27.45 percent.
Forest products purveyor Weyerhaeuser Company announced Dec. 15 that it intends to elect REIT status.
Development itself is not an indicator of a particularly strong or weak economic or real estate market. Companies have many strategic reasons for ramping up or slowing down their development pipelines.
The financial crisis and ensuing fall-out has left some institutional investors wondering whether it still makes sense to invest in REITs. The answer is a resounding yes, according to Michael Hudgins, global REIT strategist at J.P. Morgan Asset Management.
The default rate on commercial real estate mortgages held by banks climbed to 3.40 percent in the third quarter of 2009, up from 2.88 percent the quarter before, according to an analysis published on Dec. 1 by Real Estate Econometrics.
As the U.S. REIT industry closes the door on 2009 and heads into 2010 things certainly seem to be fully operational, even if all circuits aren't functioning perfectly just yet.