Nareit is celebrating 65 years of REITs by interviewing key figures who have helped shape the industry, including Don Wood, president and CEO of Federal Realty Investment Trust (NYSE: FRT), as well as Nareit 2012 Chair and Nareit 2015 Industry Leadership Award recipient.
Wood emphasized that REITs remain a unifying and stabilizing force in commercial real estate, elevating professionalism and legitimacy across the industry.
Acknowledging that current market participants often focus too much on short-term stock performance, Wood highlighted the importance of expanding and aligning the investor base with the long-term nature of real estate. He also stressed the need for greater education around REITs, especially as many investors learned about real estate during the “artificial” post-COVID period, which lacked real cyclical exposure.
On community value, Wood praised REITs for reinvesting in their properties and communities, contrasting them with owners who extract value without reinvestment. He believes REITs’ capital strength leads to better outcomes—such as improved properties, job creation, and enhanced local economies.
Looking ahead, Wood identified the key challenge and opportunity as finding global capital sources that align with REITs’ long-term strategies. He noted that he is optimistic about new sectors joining the REIT universe and encouraged embracing broader definitions of real estate to grow the industry further.