12/19/2016 | By Sarah Borchersen-Keto
REIT CEOs shared their perspectives on the outlook for 2017 during a series of video interviews held at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.
Tim Naughton, the 2017 NAREIT Chair and the chairman and CEO of AvalonBay Communities, Inc. (NYSE: AVB), stressed that committee assignments in Congress and the prospect of tax reform on the policy agenda means “we need to make sure our industry’s voice is heard.”
Jon Wheeler, chairman and CEO of Wheeler Real Estate Investment Trust (NASDAQ: WHLR), noted that “retail is in a good spot right now.” Marshall Loeb, CEO of industrial REIT EastGroup Properties, Inc. (NYSE: EGP), said supply is in check and demand for space remains “pretty strong.”
Other CEOs featured include Ray Lewis, CEO of skilled nursing REIT Care Capital Properties, Inc. (NYSE: CCP), who stressed that “the policy tailwinds that are great for our business long-term remain intact post-election.”
Thomas Nolan, chairman and CEO of Spirit Realty Capital (NYSE: SRC), remarked that the triple-net sector is at the start of a growth phase. Bill Hankowsky, chairman and CEO of Liberty Property Trust (NYSE: LPT), said a pro-business environment in the federal government is likely to be a boon for the industrial sector in 2017.
Meanwhile, Will Eglin, president and CEO of Lexington Realty Trust (NYSE: LXP), said questions abound as to what the economic environment will actually be like in 2017. Joey Agree, president and CEO of Agree Realty Corp. (NYSE: ADC), said the big question for 2017 concerns interest rates.