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Past Issues

 


cover   May/June 2008

EQR 2.0
  Equity Residential goes online to meet the needs of its Web-savvy customers

Mutual Interests
  Joint ventures offer win-win potential

From Alpha to Beta
  A look at developing markets for managing real estate risk

Rocky Road
  What's next for the CMBS market?

Set for a REIT Rebound
  REITs begin to separate from financials

Thriving in the Web
  REITs enhance their business of connecting with customers via the Internet


cover   March/April 2008

Choices, Choices, Choices
  Investors have more ways to buy and sell real estate than ever before

Building Potential
  Non-traded REITs, cousins of publicly traded REITs, are a growing trend in the real estate investment industry

Down, But Not Out
  Real estate funds underperformed in 2007, but some professionals say it won’t last

Three's Company
  Land Securities Group, the largest U.K. REIT, will divide into three separate companies


cover   January/February 2008

The 2008 View
  Looking ahead with investment pros

REITs Unite
  Real estate groups around the world join together

The Time of Your Life
  Life cycle funds gain popularity by enabling investors to choose tailored investment plans

Australian Walkabout
  In the midst of creating a strong presence in the U.S. retail REIT market, Centro Property Group faces a liquidity squeeze

Viva Las Vegas
  At NAREIT's 2007 Annual Convention


cover   November/December 2007

Boston REIT Party
  Mortimer Zuckerman and Ed Linde have built Boston Properties into one of the world’s top real estate companies

The Year of the Deal, Interrupted
  2007 was a big year for REIT privatizations, until the credit crunch hit. What’s next for M&A in the REIT industry?

Building Returns
  Focusing on development brings risks and rewards

Opportunity Knocks
  Amid a climate of market volatility, now is a great opportunity to buy REITs

Fine Line
  REITs look for ways to retain their executives rather than having them jump to the private side.

REIT Breakthrough
  Recent research details better returns through indirect real estate investment.

Buyback or Payout?
  Some REITs are repurchasing stock, but not all analysts agree with the move.


cover   September/October 2007

Great Expectations
  Tom Bell and Cousins Properties prove that taking risk has its rewards

Coming into Focus
  Mortgage REITs tighten their lending practices to improve their outlook going forward

Green Investing
  Sustainable development is luring investors across the globe


cover   July/August 2007

Shining Stars
  Risk-adjusted performance and diversification benefits of REITs outshine other market sectors and investment strategies.

Role Model
  What part do REITs play in pension plans?

Beyond the Yield
  A REIT recipe for dividends and more

Building Adventure through Science
  BioMed Realty finds opportunity in the life sciences industry

Cultivating Growth
  REITs are looking for new and innovative ways to grow and establish value for investors

Pillars of Good Governance
  REITs gain valuation and shareholder approval


cover   May/June 2007

The Dawning of Derivatives
  REIT and real estate derivatives are introduced as a new financial tool in the real estate world

New Piece of the Debt Puzzle
  REITs are turning to convertible bonds as an attractive capital solution.

View from the Corner Office
  Leading REIT CEOs discuss the opportunities and challenges that lie ahead

A Simple Recipe
  Focus and location are EastGroup's main ingredients for success

Full Speed Ahead
  With a huge underlying property base, U.K. REITs are off to a fast start.

Land of the Rising REITs
  The J–REIT market has taken off. Here is what's next.


cover   March/April 2007

Leader of the Pack
  Analyst turned portfolio manager Jay Leupp tops stock challenge

Growing Green
  Environmentally friendly building practices slash operating costs and increase ROI while attracting new investors.

Stellar Performance
  For a seventh straight year, real estate funds outperformed in 2006.

Crossing Boundaries
  Kimco Realty Corporation steps outside the box to adapt and grow.


cover   January/February 2007

Global Summit
  Executives from the U.S. and abroad discuss investment opportunities around the world

The 2007 Landscape
  Five industry professionals discuss the year to come

World Market
  AMB Property Corporation forges ahead in its international pursuit for industrial space.

A Meeting of the Minds
  NAREIT's 2006 Annual Convention focused on the current state of the REIT industry including globalization, consolidation and leadership.


cover   2006 Special Issue

Building Your Nest Egg
  Retirement savings and the role real estate can play

  In this special issue of Portfolio we will explore the trends, trials and tribulations of retirement savings and the role REIT investing can play in securing and strengthening those savings.


cover   November/December 2006

Dynamic Duo
  Martin Cohen and Robert Steers shaped the REIT investment market for 20 years — they share what's next

Year of the Deal
  2006 was quite a year with several REITs buying, selling and merging. Why the flurry of REIT deals? Here is an in-depth look at this trend and the industry’s rationale for the urge to merge.

Deluge of Debt
  REITs cannot live on equity alone and must go to the debt markets for funding. Here are the advantages and disadvantages of using secured or unsecured debt.

Building Outside the Box
  Bryce Blair and AvalonBay strive for a diverse portfolio and expand clientele in competitive markets.

Through the Looking Glass
  Have you ever wanted to take a step back and look at the overall picture? Portfolio asked five veteran generalist investment professionals to offer their opinions on REITs and real estate investing in order to get a fresh look at the industry.

Branching Out
  As one of the oldest industries in the United States, lumber and paper products has adapted with contemporary business. Read how their distinctive qualities allow timber REITs to branch out from "specialty REITs" into a sector of their own.

5 Under 40
  Portfolio surveyed REIT investors to identify some of the industry’s most promising young talent. Here are five up-and-coming REIT executives under the age of 40 who represent a glimpse into the industry’s future.


cover   September/October 2006

Rising Force
  Beacon Capital Finds Opportunity in Well-Situated Places

EU REITs
  REITs have arrived in Europe, providing more choice for investors. Learn why analysts have a positive outlook on European REITs

Worldly Wealth
  Real estate is becoming more global and investors want to participate in the international real estate securities evolution

Going Abroad
  The public real estate sector is snapping up properties outside the United States while reaping the benefits of foreign property ownership


cover   July/August 2006

Breaking Ground
  To Build Dividends and Diversification: A look at REIT Development

Inside the Boardroom
  Seven leading REIT CEOs discuss corporate governance issues facing the industry

Joint Ventures: How the Deal Is Done
  Joint ventures between REITs and institutional partners are a strategy for growing capital sourcing and allocation, used by REITs to diversify their revenues

Peak Performance
  Weingarten Realty Investors first opened its doors in 1901 and has blossomed with a portfolio of 360 shopping centers in 20 states


cover   May/June 2006

Trillion
  Commercial Real Estate Reaches a Securitization Milestone

Opportunity & Optimism
  After last year’s devastating hurricanes, property owners and residents in the Gulf Coast rebuild and look toward the future

REIT Dividends Still Blooming
  For investors looking to grow their portfolio’s income, REITs continue to be a logical choice

Indexes: An Investment Strategy or Investment Benchmark
  Does indexed investing have a place in your portfolio?

Spreading Its Wings
  Duke Realty Corporation sheds its regional focus and embarks on a strategic national expansion


cover   March/April 2006

No Knocking Block
  Real Estate Portfolio Stock Challenge Winner, and veteran REIT investor, Ralph Block reflects on what went right in 2005 and what he expects in 2006

Fund Raising
  Real estate funds find smooth sailing in 2005, managers set to navigate for similar returns in 2006

Value Proposition
  The rise in REIT acquisitions raises the question of where the true value of real estate lies

Senior Circuit
  Nationwide Health Properties goes on a buying spree


cover   January/February 2006

2006 Real Estate Outlook
  While opinions vary greatly on what 2006 will hold for real estate securities, the long-term prognosis for REITs remains decidedly positive.

Against the Grain
  Through foresight and conviction, William Sanders has blazed many trails in the real estate industry and with Verde Realty he is at it again

United It Stands
  United Dominion Realty Trust’s five-year plan has it repositioned for long-term success


cover   2005 Special Issue

REITs Around The World
  Pursuing global real estate investment opportunities

  Real Estate Portfolio talks to leading international experts and industry heavyweights to delve into what has driven global real estate expansion and the rise of new REIT structures worldwide in recent years and what investors can expect from the global real estate market going forward.


cover   November/December 2005

Real Estate Visionary
  A Conversation With Vornado's Steven Roth

Buy or Build
  In today’s market, are REITs better off using acquisitions or development—or a combination of both—to fuel growth?

Expanding the REIT Horizon
  Five years after the passage of the REIT Modernization Act made taxable REIT subsidiaries possible, TRS continue expanding business opportunities for REITs

Westfield's Worldwide Web
  When you think about truly global REITs The Westfield Group instantly comes to mind. Find out what allows this regional mall developer to flourish in every country it enters


cover   September/October 2005

45 @ 45
  In honor of REITs turning 45, take a look at the 45 events that shaped the course of the REIT industry

First Analysis
  This group of REIT pioneers may not have fully known what they were getting into, but they knew REITs were headed somewhere worth following

Evolution of a Company and an Industry
  Out of a chance encounter, the business model that would become Public Storage—the self-storage industry leader—was born

Retail Has a Reckoning
  As the dust clears from several industry-shaking deals, REIT professionals weigh in on the sector's next evolution


cover   July/August 2005

A Look Inside
  The 8 governance issues that matter most to REIT investors

Bringing the Outside In
  A handful of REITs have begun looking beyond the REIT world for senior executive talent, but the path of succession still typically starts from within

A Look into the Future
  In its infancy now, nanotechnology will play a large role in redefining how real estate is used and developed in the years to come

Seeing the Forest through the Trees
  Timber REIT Rayonier branches out to foster long-term earnings growth


cover   May/June 2005

Dividend Kings
  Making the REIT move for dividends and dividend growth

The NAV Debate
  Is net asset value the most accurate way to value REIT stocks?

The State of REITs
  18 REIT veterans share their insights on the current and future state of the REIT marketplace

Banking on a Niche
  Unique focus delivers fast growth to American Financial Realty Trust


cover   March/April 2005

Center Stage
  When the curtain closes on 2005, will investors still be applauding REITs' performance?

Mutual Admiration
  Lipper's 2004 fund rankings show it was another stellar year for REIT mutual funds. Can fund managers maintain that pace in 2005?

Is the Price Right?
  Is there a correlation between IPO pricing and long-term stock performance?


cover   January/February 2005

2005 Investor Outlook
  Leading investors discuss the issues and trends that will impact REIT performance in 2005 and beyond

Fundamental Improvement
  Real estate fundamentals have lagged as share prices have soared.
Will 2005 see the two aligned?

Returning to Its Roots
  Federal Realty Investment Trust builds on its core basics to grow from within


cover   November/December 2004

REIT Pioneer
  Kimco's Milton Cooper jumpstarted the modern REIT era—now he weighs what's next.

State of the Industry
  Heading into 2005, how is the publicly traded real estate industry doing? REITs showed their mettle during the first recession of the modern REIT era

International Signposts
  Recent events provide directions for where U.S. REITs may be headed with cross border activity

Kilroy Is Here
  Diverse, vibrant Southern California market buoys Kilroy Realty Corporation's performance

Outside the Box
  Equity REITs explore structured finance opportunities as mortgage REITs welcome the competition


cover   September/October 2004

Hedging Their Bets
  Hedge funds increasingly look to REITs, but should investors look back?

REITs and Rates
  Opinions are split on what impact, if any, a rising rate environment will have on REIT investing

Bonds—REIT Bonds
  REIT unsecured debt stacks up well against other corporate fixed-income securities. Find out what factors could alter that outlook

At Any Rate
  Steep yield curve, investment mix prepares Annaly Mortgage Management for changing rates


cover   July/August 2004

A New Generation
  What type of leaders will write the next chapter in the REIT story?

The Price of Being Public
  Learn how small-cap REITs are handling the financial challenges of operating in a post Sarbanes-Oxley world

In Good Health
  Health Care REIT’s vital signs look good thanks to a history of strong returns and strong management


cover   May/June 2004

Capital Forecast
  Can REIT capital market activity match the flurry of 2003?

Fitting In
  REITs try to claim their rightful place in dividend-focused funds

Where Are They Now?
  Portfolio catches up with five former top REIT analysts

Playing By The Rules
  How will changes on Wall Street impact REIT coverage?

Growing Value
  Positive mall trends help General Growth Properties live up to its name


cover   March/April 2004

Top Rank
  Varied investment strategies guided real estate mutual funds to overwhelming success in 2003, but fund managers stress caution for 2004

High Energy
  As REITs take steps to mitigate rising energy costs and improve efficiency, will investors see a spark in their returns?

And the Winners Are...
  Jeff Donnelly, Lee Schalop and Barry Vinocur earn top honors in the 2003 Real Estate Portfolio Stock Challenge

Trusting Liberty
  Proactive stance, guaranteed occupancy and local management are keys for Liberty Property Trust's success in soft market


cover   January/February 2004

2004 Analyst Outlook
  Top Analysts Outline Prospects for a Continued REIT Run

Diversify and Multiply
  The "live-work-shop" mantra is the driving force behind Colonial Properties Trust's success

Keeping the Flow
  Fund flows continue to pour into the industry, but what does this mean for REITs long term?


cover   November/December 2003

Straight From Sam
  Sam Zell has been called many things throughout his storied career...

Undefined Contributions
  Although a large number of companies invest in real estate in their defined benefit plans, many deny their employees the same advantages in their 401(k) plans

Equal Opportunities
  Once a male-dominated industry, more women are climbing the real estate ladder

Reit Rookies
  Why have a number of fund managers, plan sponsors and providers come off the bench to make a play for REITs?

Is Gables Able?
  Gables Residential expects its monthly dividend and improving economic and demographic factors to pay off for shareholders.


cover   September/October 2003

Capital Import
  Can REITs build their shareholder base by attracting foreign investors?

Foreign Affairs
  Some U.S. REITs are finding favorable results overseas. But not all REITs travel well.

REIT IPOs Trend or Coincidence?
  Now that Maguire and American Financial have tested the water, will other companies follow into the public market?

First Rate
  Times have been very good for Thornburg Mortgage, but what impact will interest rate hikes have?


cover   July/August 2003

Views From The Top
  This excerpt from NAREIT’s Institutional Investor Forum features a candid discussion among six leading industry executives

Improving Corporate Governance
  A survey of board practices reveals the industry is making both progress and missteps in improving corporate governance

Independent Voice
  Four independent directors share their thoughts on joining the industry...

Winning Formula
  Archstone-Smith’s transformation is fueled by a single vision for success.


cover   May/June 2003

Quantity vs. Quality
  Can too much financial disclosure diminish the information’s value to investors?

Exchange Traded or Non-Exchange Traded?
  Publicly-registered non-exchange traded companies provide another avenue for real estate investors, but there are caveats

The Going Rate For Real Estate
  Cap rates have held despite weakening fundamentals

Triple Play
  The Rouse Company’s diverse portfolio boosts its balance sheet in difficult economic times


cover   March/April 2003

Imagination at Work
  GE Real Estate has a new vision, including global expansion with an eye toward diversification

Looking for a Little Hospitality
  After a difficult 2002, MeriStar Hospitality Corporation is ready to win back investors.

Let’s Make a Deal
  Are joint ventures between REITs and pension funds a good deal for investors?

When Raising Capital Raises a Ruckus
  At times, direct placements of common shares make sense. But try telling that to some shareholders


cover   January/February 2003

2003 Investor Outlook
  Leading Investors Weigh In on the Key Issues Shaping the REIT Industry

Seeing the Big Picture
  REITs have outperformed over the past 20 years, but will broader market, demographic and economic factors allow those results to hold over the next two decades?

Beast of the East
  Mack-Cali Realty Corporation’s strategic shift from a national focus to a regional one concentrated in the Northeast has strengthened the company’s overall performance


cover   November/December 2002

Changing Suit
  As the spotlight on corporate governance intensifies, a company’s board of directors has become more important than ever.

Keeping an Eye on Insurance
  Assessing risk, limiting exposure to terrorism and effective disclosure are some of the keys to unlocking the insurance puzzle.

No Simple Simon
  On the heels of completing the biggest mall deal ever

Something Special
  With few peers and equally unique markets, specialty REITs share similar challenges reaching investors

An Inexact Science
  Analysts and investors may debate the mechanics of calculating NAV


cover   September/October 2002

Back to Work
  One year later, New York City and its property markets look to the future.

The Upside of Upscale
  Host Marriott lodges potential as travel/leisure market recovers

After the Fall
  Companies are not waiting for Congress to act;


cover   July/August 2002

Changes at the Top
  FAs real estate continues to evolve in the public sector,...

Filling in the Blanks
  As suburban sprawl spreads, residents and developers have headed back to the city.

Managing Crisis
  Web Exclusive.

Branching Out
  Plum Creek Builds on Its Success with Timber Company Deal


cover   May/June 2002

You Say Small Cap, I Say Micro Cap
  Don’t let the name fool you, there is nothing small about the weight this group ...

Nobody's Fool
  Real estate investors of all levels turn to The Motley Fool’s discussion board to ask questions...

Screening Process
  No longer just a means to weed out bad tenants, screening software boosts closing ratios, reduces liability and increases efficiency.

Transformation
  TrizecHahn Corporation finds the key to unlocking shareholder value in converting to a REIT


cover   March/April 2002

Up To Speed
  Financial management tools provide the speed and accuracy real estate companies...

Service with a Smile
  Customer interaction and service get the digital touch ...

Covering Their Bases
  CenterPoint sets the standard for redeveloping decommissioned military bases

Branching Out
  Plum Creek Builds on Its Success with Timber Company Deal


cover   January/February 2002

A Bright Idea
  Energy efficient lighting is not only good for the environment...

Energy Stars
  Some tips and tidbits courtesy of the EPA’s ENERGY STAR program

Power Play
  Cost savings and enhanced reliability drive use of distributed generation as an alternative power source

Transformation
  TrizecHahn Corporation finds the key to unlocking shareholder value in converting to a REIT


  November/December 2001

Rebuilding
  Work is underway to rebuild the property, confidence and security the nation lost on September 11.

Cracking the Code
  Developers operating in multiple jurisdictions find ways to manage multiple building codes ...

Crouching Market, Hidden Value
  REITs may hold the key to revitalizing struggling property markets in the Pacific Rim

The Writ Way
  A diverse portfolio and local focus have kept Washington Real Estate Investment Trust in the black


  September/October 2001

Is the Dealing done?
  Leading analysts debate what impact recent M&A activity...

Failing Grades
  The nation's infrastructure is crumbling...will you have to pay? ...

Suits Them Fine
  An increasing number of companies are looking to build-to-suit projects ...

On the Move
  ProLogis Trust’s focus on the customer...


July/August   July/August 2001

Boom Times
  Did you feel the earth move last year?

It's Easy Being Green
  Ecologically conscious building techniques are helping...

Safe and Secure
  A look at security systems for a variety of real estate sectors...

Worth the Price
  What can a few trophy properties add to a portfolio?


  May/June 2001

On the Rise
  Today, the first wave of Baby Boomers are preparing to retire...

Enticing the Euro
  Is recent activity by European investors in the U.S. REIT market an indication of more to come?

What Can We Offer You
  Real estate companies are being creative in finding ways...

Going Their Own Way
  Now self-advised, LaSalle Hotel Properties is well positioned to move forward...


  March/April 2001

2001 A Technology Odyssey
  Across a wide variety of sectors, new technology is revolutionizing the way real estate owners manage their properties.

Thrill Ride!
  Despite the recent roller coaster for high-tech company stock prices...

The Simple Life
  New streamlined regulations and special software are being combined to simplify the maze of retail tax codes in the U.S.

Capitol Currents
  The 2000 elections have again transformed the political land scape and the REIT industry is keeping a watchful eye...


  January/February 2001

Catch the Edge
  Following demographic trends, housing for active seniors is snowballing into a strong market

Shopping Smart
  Regency Realty is using extensive data evaluation to help grow its properties

Forward Looking
  A look at what REIT executives expect to see in the next 12 months

A Continental Flair
  Interest in REIT-like companies in Europe is growing


  November/December 2000

Charitable Investments
  REIT and REOC managements are always looking for the best ways to invest their human

That's Entertainment
  An investment banker dealing with capital markets for its client, AMC Entertainment

Casualities of Honor
  Every American school child learns that Aaron Burr killed his rival Alexander Hamilton in a duel.

Crisis Control
  When a crisis strikes at one of your properties, there is no substitute for having a well-established crisis


  September/October 2000

Charting Their Own Course
  This is another in our series of articles profiling companies in the REIT and publicly traded real estate industry.

The Hunt is on…
  It's a jungle out there. Just ask the human resources director at any real estate company how difficult it has become to track down and…

Hitting the Grand Slam!
  Top producing executives, like the sultans of swat in baseball, can be expensive, but they are vital to a successful management team.

Manufacturing Dreams
  Strong demographics, quality products and new amenities are helping to keep manufactured housing growing.

Spinning Off...
  Driven by the desire to improve internal operations and advance tenant services, real estate companies are seizing upon engineering marvels to advance in the new age.


  July/August 2000

B2B Internet
  Whether its buying products, leasing space, or tracking cash, the Internet is swiftly becoming the way real estate companies get their business done.

Echoes of Elegance
  When, in the 1930s, John L. Lewis, leader of the United Mine Workers of America proclaimed, "I have pleaded your case from the pulpit and from the public platform—not in the quavering tones of a feeble mendicant asking...

Still Affordable
  Gates Mill Villa formerly in Mayfield Heights, OH, is a popular senior citizens complex.

Mega to the Max
  Super-regional entertainment and value-oriented mega-malls are the hallmark of the Mills Corporation of Arlington, Va.



  May/June 2000

Making Connections
  It's faster than a speeding bullet. Not Superman.

Telecommuting - Still a Balancing Act?
  ...telecommuting could be a good benefit for employees and tasked Feery with developing a formal policy for telecommuting.

Developing Value
  Operating as a real estate developer and taking on joint ventures is keeping Cousins Properties Inc. moving ahead.

Hot! Hot! Hot!
  Some regional markets are sizzling...



 

March/April 2000

At Your Service
  ... the real estate industry has evolved into a customer-oriented service business...

Shooting for the Green
  Golf is booming in the U.S and Golf REITs are in a great position

Delivering Just in Time
  AMB Property Corporation is finding new ways to make the supply chain more efficient and more profitable in the e-commerce era

Masters of their Domain
  Real Estate is becoming increasingly complex and graduate schools are expanding programs to help professionals stay ahead of the curve


Real Estate Portfolio® is the magazine for REITs and real estate investment.

It is published bimonthly by the National Association of Real Estate Investment Trusts® (NAREIT),
1875 I Street, NW, Suite 600, Washington, DC 20006–5413.
Phone 202-739-9400.