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REIT Replay: That's a wrap

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REIT Replay: That's a wrap

Real estate investment trusts and the broader markets closed lower Friday, Dec. 29, after a year of gains.

The MSCI US REIT Index (RMZ) lost 0.22% to 1,157.27, and the SNL US REIT Equity Index dropped 0.11% to end the year at 317.97. The Dow Jones Industrial Average fell 0.48%, closing at 24,719.22, while the S&P 500 closed 0.52% lower at 2,673.61.

A KBS Strategic Opportunity REIT Inc. unit plans to nominate three individuals for election as class III trustees to Whitestone REIT's board at its 2018 annual shareholder meeting. Whitestone added that the shareholder also indicated its intention to submit a nonbinding proposal for shareholders to approve its request to declassify the trust's board.

Whitestone shares declined 0.86% to end the day at $14.41.

A Gazit-Globe Ltd. subsidiary entered into a pre-arranged trading plan whereby it may sell up to 2.5 million shares of Regency Centers Corp.'s common stock in specified periods between January 2018 and April 2018.

Regency Centers shares slid 0.35% to close at $69.18.

Iron Mountain Inc. closed its $825.0 million private placement of 5.25% senior notes due 2028, resulting in net proceeds of approximately $813.1 million, which the company will use to partly fund its acquisition of IO Data Centers LLC's operations in the U.S.

Iron Mountain shares gave up 0.66% to close at $37.73.

Chatham Lodging Trust commenced an at-the-market offering program for the sale of up to $100.0 million of its common shares.

Shares of Chatham Lodging dipped 1.51%, closing at $22.76.

Landmark Infrastructure Partners LP upsized the borrowing capacity of its revolving credit facility by $23 million to $390 million, to give itself additional financing flexibility to fund future acquisitions and expansion opportunities.

Shares of Landmark Infrastructure closed 1.90% lower at $18.10.

On the macro front, STR data showed that U.S. hotels recorded positive performance across the three key metrics for the week ended Dec. 23, with revenue per available room rising 7.6% year over year to $48.28.

Reis Inc. said the national apartment vacancy rate in the U.S. increased to 4.5% in the fourth quarter from 4.4% in the third quarter, while asking rents increased 0.4%, and effective rents grew 0.3%.

Now featured on S&P Global Market Intelligence

The Week in US Real Estate: Simon Property ventures into healthcare; AvalonBay plants flag in Sunshine State: The Dec. 29 weekly news roundup in the North American real estate space includes a couple of unlikely alliances across property subsectors and signs of a decelerating national multifamily market.

Data Dispatch: Over $300M in mortgaged CRE exposed to California wildfire: Real estate investment trusts have emerged relatively unscathed from the destruction of the Thomas Fire in Southern California.

The Short Report: US REIT short interest falls in December 1st half: Average short interest for U.S. equity real estate investment trusts fell 11 basis points to 4.49% of shares outstanding in the first half of December.

Market prices and index values are current as of the time of publication and are subject to change.