With all of the cash now available to REITs, don’t be surprised to see more deals like the merger between Essex Property Trust, Inc., and BRE Properties, Inc., which closed on Apr. 1. “It makes sense for REITs to consolidate. I wouldn’t be surprised if there was more REIT consolidation,” says Ben Thypin, director of market analysis with New York City-based research firm Real Capital Analytics (RCA). The deal between Essex and BRE will help the new, larger REIT save a ...
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