REITs Ramping Up Development

After peaking in the fourth quarter of 2007, new construction in the REIT industry decreased sharply over the next two and half years. Steven Marks, managing director with Fitch Ratings, attributes that decrease to a demand slowdown coupled with REITs desire to preserve liquidity and reduce leverage. Although it has been slow and primarily concentrated in the multifamily and industrial sectors, Marks says sees the growth as a signal that REITs are organically building their portfolios.

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