REIT Capital Markets “Wide Open” for Equity and Debt, Banker Says

John Perkins, co-head of real estate investment banking at RBC Capital Markets, participated in a video interview at Nareit’s REITwise: 2019 Law, Accounting & Finance Conference in San Antonio.

Perkins described REIT capital markets as “quite strong.”

“The markets are wide open, from our perspective, in terms of being able to bring names to market for both equity and debt capital raising,” Perkins said.

He noted that some sectors have a lot of capacity to raise public equity because they are trading at a premium to their net asset value. Other sectors are having to look to the private market because of their public market discount. “The capital is there for both, and it’s a question of where REITs are looking for that liquidity,” he said.

Looking ahead, Perkins said he expects to see continued growth of large cap names as well as new entrants into the REIT market.