Mitchell Sabshon, president and CEO of Inland Real Estate Investment Corp., joined REIT.com for a CEO Spotlight video interview at NAREIT's 2017 Washington Leadership Forum at The Hay-Adams.
Inland sponsors non-listed REITs and private securities products.
Sabshon said conditions across most property types, especially in secondary and strong tertiary markets, remain firm. In fact, competition is increasing.
“With yields still being relatively tight, we’ve seen a number of competitors, mostly institutional investors, coming into those secondary and tertiary markets where we haven’t really seen them much before,” he said.
Inland continues to favor grocery-anchored and shadow-anchored retail in secondary and tertiary markets. “That’s certainly where we’re focusing our attention for 2017,” Sabshon noted.
Sabshon also commented on tax reform.
“Nothing is currently more important than the 1031 like-kind exchange provisions of the internal revenue code,” Sabshon said. “We happen to think that 1031 has been a fundamental part of real estate investing,” he added.