Nareit is celebrating 65 years of REITs by interviewing key figures who have helped shape the industry, including Eugene Landy, founder, past president and CEO, and current chairman of UMH Properties, Inc. (NYSE:UMH) (TASE:UMH).
Landy was also the founder, past president and CEO, and past chairman of Monmouth Real Estate Investment Corp.
Landy reflected on the enduring and evolving role of REITs, noting that they continue to provide essential capital for large-scale real estate projects, including data centers and affordable housing.
“You need vast pools of capital. And the brilliance of it all and the great satisfaction is that we are able to raise those pools of capital. It's not easy. It takes time. But whatever we need, whether it's data centers, or storage facilities, or warehouses, or whatever the newest need for capital is… the REIT industry has responded and we've been able to raise these pools of capital to satisfy the needs of the nation,” Landy said.
He highlighted how UMH Properties has grown significantly since converting to a REIT in 1985—expanding from one of the smallest manufactured housing owners to the sixth largest in the country.
The internationalization of REITs has also been striking, according to Landy. With more than 40 countries adopting the U.S. model, driven by global capital needs. For young professionals, Landy emphasized the value of internships, learning across sectors, and using the transparency of public companies as an entry point into the REIT industry, which remains dynamic and full of opportunity