07/21/2022 | by
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1315_Nareit Testimonials_REITweek_Obertse_2022-06-27_v3

Dan Oberste, CEO of BSR Real Estate Investment Trust (TSX: HOM.U) (TSX: HOM.UN), participated in a video interview in conjunction with Nareit’s REITweek: 2022 Investor Conference in New York on June 7-9.

Oberste said the heart of BSR’s business is leasing apartments primarily in Houston, Austin, and Dallas, and those three markets were somewhat insulated from the impact of covid.

“If anything, [the pandemic] accelerated our strategic shift [to multifamily properties],” he said, noting that the REIT has acquired 14 properties since March 2020.

Oberste also discussed a recent $115 million bought deal equity offering, saying that it was an “excellent time” for the REIT to issue equity.

“We find that after we deploy the capital, our shareholders will have benefited from…a disciplined management team that deploys capital in an accretive manner, and an AFFO per unit basis for its investors,” he said.

Oberste added that since the addition of its training department and internal succession program in 2018, BSR provides an environment where all of its team members “will find an opportunity for professional growth.”