As I begin my term as Nareit’s 2021 chair, I would like to first thank my immediate predecessor, Bill Stein, for the hard work and dedication he has shown over the past year. This has been an unpredictable and unparalleled year for not only our industry but for our nation as a whole, and Bill and the Nareit staff have demonstrated remarkable leadership throughout. I am truly honored to step into these shoes.
Nareit will continue to work with policymakers and engage in significant outreach with newly elected members of the House and Senate to ensure they understand the REIT approach to real estate and the value it brings communities and investors.
This year marks the 60th anniversary of the establishment of REITs and they remain the best way for average Americans to invest in commercial real estate while offering a number of advantages for investors, including diversification, liquidity, and healthy dividend-based income–an important benefit in this challenging and very low interest rate environment.
We must also be forward-thinking in our recovery plans. In an effort to better prepare for any economic risks related to potential future pandemics, Nareit joined with several other business groups to form the Business Continuity Coalition (BCC), a coalition representing the policyholder community that intends to work cooperatively with policymakers and other stakeholders in the U.S. to constructively develop an insurance program to ensure business continuity for future pandemics and other emergencies necessitating widespread closures of the economy.
I am grateful for the opportunity to work with Nareit to help navigate the REIT community through opportunities and challenges our industry is sure to face this coming year. I look forward to serving as your chair as we continue to promote and protect the REIT way of real estate investment.