|
|
Article: Report predicts REIT M&A deals to wane.(INDUSTRY INSIDER)
- Article from:
- Units
- Article date:
- April 1, 2007
CopyrightCOPYRIGHT 2007 National Apartment Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
After witnessing the largest private equity leveraged buyout in U.S. history, REITs continue to see much merger and acquisition interest that could increase leverage and secured debt for firms involved, Moody's Investors Service said in a new report.
The rating agency expects this wave of REIT M&A deals to begin to wane, however, as institutional investors in particular reach their targeted allocations for real estate, and as other asset classes become more attractive--especially with the run up in REIT stock prices in recent years.
"The question is whether the leveraged buyout of Equity Office Properties represents the high watermark or the tip of the ...