Nareit launched the .reit top-level domain (TLD) registry in 2015 to showcase REITs as a globally recognized approach to real estate investment and to provide global recognition to internet users that any domain name ending in .reit belongs to a company verified as operating as a REIT.
The .reit registry furthers the interests of the REIT community and is available on a non-discriminatory basis worldwide only to companies that operate under national laws consistent with the well-accepted basics of the REIT approach to real estate investment. All .reit domains are required to serve the needs of the REIT community by providing information about or offering services related to the REIT.
Almost 200 domain names have been registered since the launch of the registry, including by verified REITs in the United States, Australia, Canada, France, Ireland, Mexico, South Africa, Switzerland, Ukraine, the United Arab Emirates, and the United Kingdom. Today, there are 80 active .reit domains used by REITs all over the world to showcase the REIT approach to real estate investment.
The process to create the .reit registry began in 2011 with Nareit applying to launch the .reit registry via a “Community Application” as part of the Internet Corporation for Assigned Names and Numbers (ICANN) decision to allow companies and organizations to establish top-level internet domain names beyond the existing generic domains, such as .com, .org, .net, .edu, .gov, and two letter country codes.
The Community application was more rigorous than a general application, as it required the applicant to demonstrate and substantiate their status as a representative of the specific community they named in the application. The criteria for operation needed to reflect the community's interests, and its primary purpose had to be to provide a dedicated online space for that specific community, rather than the general internet public.
To bolster the Community application, Nareit received letters of support from real estate-focused associations from all over the world:
ARES – The Association for Real Estate Securitization
BPF – The British Property Federation
FEI – Fédération des Entreprises Immobilières
PCA – The Property Council Australia
REALPAC – The Real Property Association of Canada
To protect REITs from domain poaching or squatting (registering or using an internet domain name with the bad-faith intent to profit from the goodwill of another's trademark or buying and selling domain names based on future value and buyer interest), all domain names must either correspond to the REIT's legal trade names or be the name by which the REIT is commonly known, which may include acronyms, registered and common law trademarks, and exchange ticker symbols.
The .reit registry also allows REITs to register domain names that best identify the company that would otherwise be already registered by others, such as in the .com or .biz space. The .reit domains can also redirect to existing domains so that REITs can leverage their existing domains, such as .com sites, while still taking advantage of the .reit assurance of being a verified REIT.
An International Appeals Board, consisting of seven REIT industry professionals from around the world, including association heads, lawyers, analysts, and advisors, exists to review appeals for reconsideration by applicants whose domain name applications have been rejected due to REIT or domain name eligibility issues. Each member serves a two-year term.
Timeline
2011: (ICANN) announces the new Generic Top-Level Domain (gTLD) Program
2012: Nareit applies to develop the Community-based .reit registry
2013: ICANN approves Nareit’s application and Nareit begins the contracting phase to establish the registry policies
2014: .reit registry is officially delegated and Nareit partners with CentralNic as its registry operator to create the .reit registry operational framework and the flagship store at register.reit
2015: .reit registry launches with the first registration occurring on Nov. 17 during the Sunrise period and general registration beginning on Dec. 20.
First registrations:
Medical Properties Trust, Inc. mpt.reit 11/17/2015
Prologis, Inc. prologis.reit 11/18/2015
AMH americanhomes4rent.reit 12/4/2015
Gaming and Leisure Properties, Inc. glp.reit 12/4/2015
Simon Property Group, Inc. simon.reit 12/7/2015
Sample of active .reit Sites:
chct.reit – U.S.
columbia.reit – U.S.
corenergy.reit – U.S.
hosthotels.reit – U.S.
inzhur.reit - Ukraine
krest.reit – U.S.
refi.reit – U.S.
starwoodnav.reit – U.S.
umh.reit – U.S.
The total revenue since 2015, when domain applications were first accepted, is $1,080,000. Nareit has spent $1,544,000 on the initial development and continuing operation of the .reit registry since the start of the initiative in 2011.
See www.register.reit and www.nic.reit for more information, registry policies, and other documents.
The register.reit site is a partner site between Nareit and CentralNic, our registry operator. However, more than 350 registry operators have signed accreditation agreements to offer the .reit domain name. Currently, nine different registry operators are servicing the 80 active domains. Each operator can set its own price for a one-year domain name registration or renewal. The register.reit registry charges $1,000 for a one-year registration or renewal. Verification of REIT operating status is required for both initial registrations and annual renewals.