CoStar Group has reviewed over 80 year-end and fourth quarter earnings reports, along with 2016 outlines, for publicly traded REITs and is projecting a majority of the nation’s publicly traded REITs and real estate companies expect to be big sellers of properties this year, according to a new article. With three times as many REITs projected to be net sellers compared to net buyers, the reviewed companies have disclosed an expectation to sell more than $20.7 billion in properties this year, while only anticipating $9.8 billion in acquisitions.
"Even though the year started with choppy financial markets, we continue to benefit from a very strong real estate market and we expect 2016 to be another very good year," said Bill Hankowsky, chairman, president and CEO of Liberty Property Trust, citing "strong demand from the investment buyer universe."
"Our overall disposition efforts have resulted in a significant reduction of our non-core holdings in Pennsylvania, New Jersey, Delaware, Richmond and Northern Virginia," stated Gerard Sweeney, Brandywine Realty Trust's president and CEO. "In addition, these transactions significantly increase our financial capacity, reduce debt and provide ample liquidity for our development pipeline."
"We expect to complete, including the pending investments announced today, between $750 million to $1 billion of total real estate investments in 2016, subject to favorable capital market conditions," said John Thomas, president and CEO of Physicians Realty.
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