Real estate companies provide assessments about Hurricane Harvey's impact on their operations in Texas and Louisiana, as risks over losses remained in the wake of the storm. This article will be updated as new disclosures are made.
* Pure Multi-Family REIT LP reported that its Broadstone Walker Commons property is in very good condition, with only minor damage, and its Deer Park Apartments requires further assessment, though the company doesn't anticipate material damage.
* Apple Hospitality REIT Inc. disclosed that its nine hotels in the primary path of the storm sustained minimal damage.
* Pure Industrial Real Estate Trust reported that its two industrial properties near downtown Houston suffered only minor damage, and its San Antonio and Austin, Texas, properties were not impacted by the storm at all.
* Omega Healthcare Investors Inc. said two of its facilities near the Sabine River were evacuated. The company had 32 facilities in Texas and Louisiana that were in the hurricane's path, though CEO Taylor Pickett said in a release that the facilities "appear to have relatively little damage."
* Camden Property Trust expects to incur roughly $2.5 million to $3.0 million in expenses during the third quarter as a result of Hurricane Harvey. About $1.5 million to $2.0 million in expenses is expected to go toward property damage repairs in Houston and Corpus Christi, Texas, after insurance reimbursements. Roughly $1.0 million is projected to go toward storm-related expenditures such as disaster relief.
* Prologis Inc. said its Texas properties saw no significant damage from Hurricane Harvey, though property assessments are ongoing.
* NexPoint Residential Trust Inc. disclosed that all of the company's Houston area apartment communities are operational, having sustained immaterial damage.
* Brixmor Property Group Inc. said one of its 52 properties impacted by Hurricane Harvey remains shut because of structural damage. Seven properties experienced water intrusion and minor wind-related damage or power outages, with the remaining 44 assets open and operating.
* Public Storage said access has reopened to its 115 Houston properties that were previously closed because of serious weather conditions related to the storm. Additionally, the company opened a 2,064-unit storage facility offering 194,000 square feet of net rentable space at US-290 and Mueschke Road in Cypress, Texas, marking its 116th facility in the Houston area.
* Kimco Realty Corp. said almost all of its 17 assets in the Houston area have resumed operations, including its recently launched Grand Parkway Marketplace development.
* Retail Properties of America Inc. reported "minimal damage and business interruption" at its nine Houston-area assets in the wake of the hurricane, although it noted that it will take several weeks to provide a full assessment.
* National Storage Affiliates Trust said its five wholly owned and joint venture stores in the Houston vicinity have reopened to full operational mode and that its entire portfolio has not been meaningfully impacted by the storm.
* Altisource Residential Corp. said it expects the storm to have a minor impact on its single-family homes in Houston and nearby areas. The company, which owns about 830 insured rental homes in the Houston area, has plans in place to repair damaged properties as fast as possible, CEO George Ellison said in a release.
* Life Storage Inc. said 63 of its properties in Houston and Beaumont, Texas, have resumed business operations, while six facilities remain shut temporarily, noting that there might be additional closings because of the continued flooding and other consequences brought on by the storm. The company wholly owns three of the temporarily closed stores while the other three are joint venture sites.
* American Homes 4 Rent said "a small number" of its Houston homes require substantial remediation because of the storm where continued occupancy could present a health and safety hazard.