REITs own more than 37,000 properties in Florida; Hurricane Ian making landfall

Hurricane Ian is making landfall in Florida and will bring catastrophic wind damage to the Sunshine State's southwestern coast.

The storm strengthened to a category 4 hurricane, with maximum sustained winds approaching 155 mph and gusts going even higher, according to a public advisory issued at 8 a.m. ET by the National Hurricane Center.

The hurricane-force winds extend out up to 40 miles from the eye of the storm and tropical-storm-force winds extend outward up to 175 miles.

In addition to wind damage, real estate in the area is also subject to flooding.

The National Hurricane Center is expecting catastrophic flooding across portions of central Florida, as well as considerable flooding in southern and northern Florida, southeastern Georgia and coastal South Carolina.

Among the U.S. equity real estate investment trusts, single-family rental REIT Invitation Homes Inc. owns the most properties in Florida. Of its 25,300 properties, 8,580 homes are in the Tampa area, 8,346 are in South Florida, 6,446 are in the Orlando area and the remaining 1,928 are near Jacksonville.

Another single-family rental REIT American Homes 4 Rent also owns 7,529 properties in Florida, spread across Jacksonville, Tampa, Orlando and Miami.

* Click here to set email alerts for future Data Dispatch articles. * Click here to download the underlying data for these charts in Excel format.

Net lease-oriented Realty Income Corp. has the third-most properties in Florida, at 716, followed by self-storage REIT Public Storage at 310 and single tenant retail REIT National Retail Properties Inc. at 229.

On a portfolio percentage basis, seven out of Belpointe PREP LLC's 10 property portfolio, excluding development properties, are in Florida, the highest percentage of any REIT.

Hotel REIT Sotherly Hotels Inc. is in second place, with roughly 41.7% of its portfolio in Florida, followed by manufactured home REIT Equity LifeStyle Properties Inc. at 33.8%.