Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. Print
April 15, 1996 01:00 AM

SPECIAL REPORT: REITS

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    Health Care Property

    Investors

    Los Angeles, Calif.

    ($ millions)

    Current market cap899

    Starting market cap100

    Year it went public1985

    Type of REITHealth care

    Health Care Property Investors has not done any director placements or joint ventures. "The opportunity hasn't cropped up," said James Reynolds, chief financial officer. The company raises money in debt offerings with insurance companies and from mutual funds, Mr. Reynolds said.

    Pension fund investors in the common stock: California State Teachers' Retirement System, Teacher Retirement System of Texas, IBM Corp. and TIAA.

    Health and Retirement

    Properties Trust

    Newton, Mass.

    ($ millions)

    Current market cap1,130

    Starting market cap63

    ear it went public1986

    Type of REITHealth care

    Health and Retirement Propeties Trust hasn't done a direct equity placement or co-invested with a pension fund, said David Hegarty, president. "We would, but we have never come across the situation," Mr. Hegarty said about placing stock directly with a pension fund.

    Pension fund investors in the common stock: Atlantic Richfield Co., California State Teachers' Retirement System, Howard Hughes Medical Institute, IBM Corp. and University of Delaware endowment.

    Kimco Realty Corp.

    New Hyde Park, N.Y.

    ($ millions)

    Current market cap969

    Starting market cap275

    Year it went public1991

    Type of REITCommunity shopping centers

    Kimco Realty Corp. has not done any direct placements, but is interested in exploring joint ventures with pension funds, said Milton Cooper, chairman.

    Pension fund investors in the common stock: Florida State Board of Administration, University of Texas Systems, California State Teachers' Retirement System, New York State Teachers' Retirement System and IBM Corp.

    Meditrust

    Needham, Mass.

    ($ millions)

    Current market cap1,966

    Starting market cap23

    Year it went public1985

    Type of REITHealth care

    Lisa McAlister, chief financial officer, said Meditrust never has had a direct placement or joint venture with a pension fund.

    Pension fund investors in the common stock: California State Teachers' Retirement System, Teachers Insurance Annuity Association-College Retirement Equities Fund, Kentucky Teachers' Retirement System, IBM Corp. and the University of Texas Systems.

    Merry Land & Investment Co.

    Augusta, Ga.

    ($ millions)

    Current market cap736

    Starting market cap60

    Year it went public1987

    Type of REITApartments

    Merry Land & Investment Co. was spun off from a public brick manufacturer called Merry Co. Inc. in 1981, said Peter Knox, chairman. Merry Land became a REIT in 1987.

    The company executed a direct placement with J.P. Morgan Investments that might have included pension funds, said Mr. Knox. The company has not done any joint ventures. "That is not to say we won't consider it," Mr. Knox said. "To this point we haven't done it."

    Pension fund investors in the common stock: California State Teachers' Retirement System, College Retirement Equities Fund, Colorado Public Employees' Retirement Association, General Motors Investment Management Corp., IBM Corp. and University of Texas Systems.

    New Plan Realty Trust

    New York, N.Y.

    ($ millions)

    Current market cap1,181

    Starting market capn/a

    Year it went public1962

    Type of REITDiversified

    New Plan Realty Trust was the first REIT to become self-administered and self-managed.

    Two foreign pension funds - the Merchant Navy Officers Pension Fund, United Kingdom, and Stichting Pensioenfonds ABP of the Netherlands - are large shareholders via a direct placement, said Arnold Laubich, president.

    The company has not done a joint venture with any institution.

    Pension fund investors in the common stock: California State Teachers' Retirement System, College Retirement Equities Fund, IBM Corp. and New York State Teachers' Retirement System. Also, the endowment of Harvard University is an investor.

    Post Properties

    Atlanta, Ga.

    ($ millions)

    Current market cap701

    Starting market cap500

    Year it went public1993

    Type of REITApartments

    Post Properties has not done a direct placement or joint venture with an institution since it went public, said Timothy Peterson, senior vice president. The company did joint venture developments with insurance companies when it was a private company, Mr. Peterson said.

    Post views a direct placement as more attractive than a joint venture, he said.

    Pension fund investors in the common stock: California State Teachers' Retirement System, College Retirement Equities Fund, Florida State Board of Administration, General Motors Investment Management Corp., New York State & Local Retirement Systems, State Teachers Retirement System of Ohio.

    Public Storage Inc.

    Glendale, Calif.

    ($ millions)

    Current market cap1,338

    Starting market capn/a

    Year it went publicn/a

    Type of REITSelf-storage

    Public Storage Inc. went through a name change in November 1995 as a result of a merger between a public company, Storage Equities Inc., and Public Storage, then a private company, said Harvey Len

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    New SEC Rule on Fair Pricing Determination Needs Careful Consideration
    Sponsored Content: New SEC Rule on Fair Pricing Determination Needs Careful Consideration

    Reader Poll

    June 6, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Nearing the finish line: Ideas on end-state investing for corporate DB plans
    The Meaning of "Portfolio Intelligence"
    Credit Indices: Closing the Fixed Income Evolutionary Gap
    Forever in Style: Benchmarking with the Morningstar® Broad Style Indexes℠
    Crossroads: Politics, Inflation, & Bonds
    Is there a mid-cap gap in your DC plan?
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    June 20, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit