Real estate investment trusts posted notable gains and the broader markets rebounded Wednesday, May 23, as minutes from a recent Federal Reserve meeting showed that most Fed officials think their next rate increase will come soon.
Canada's Pure Industrial Real Estate Trust expects to close its all-cash takeover deal with an affiliate of private equity giant Blackstone Group LP's core-plus real estate investment unit May 24, pursuant to which Blackstone and partner Ivanhoe Cambridge Inc. will acquire the REIT.
Pure Industrial shares rose 0.87% to end the day at C$8.09.
Single-family rental REIT American Homes 4 Rent appointed Executive Vice President for Finance Christopher Lau as its new CFO, effective July 1, succeeding Diana Laing, who will step down from the position, effective June 30.
Shares of American Homes 4 Rent increased 0.51%, closing at $19.69.
Urban office REIT Alexandria Real Estate Equities Inc. appointed Daniel Ryan co-chief investment officer, effective May 23, noting that Ryan will also continue in his role as regional market director of San Diego.
Alexandria Real Estate shares spiked 1.62%, closing at $125.81.
Lodging REIT Host Hotels & Resorts Inc. is expected to enter into an agreement to sell the 270-room, 20-story W-New York Union Square in New York City to Westbrook Partners LLC for $168 million in the next week or two, The Real Deal reported.
Shares of Host Hotels closed 0.90% higher at $21.41.

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Data Dispatch: US REIT capital markets activity down 46% YOY through May 15: Chart Watch: U.S. real estate investment trusts completed seven capital offerings during the first half of May, raising $1.99 billion.
Data Dispatch: Multifamily REITs eye mile-high growth for Denver's apartment market: Denver's population growth, as well as its efforts to attract technology companies, startups and white-collar jobs from pricier coastal markets, attracted the attention of large multifamily investors.
Market prices and index values are current as of the time of publication and are subject to change.
