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REIT Replay: Mild Monday

Real estate investment trusts recovered from losses while the broader markets pulled back on a quiet trading day Monday, Oct. 9.

The MSCI US REIT Index (RMZ) rose 0.22% to 1,159.61, and the SNL US REIT Equity Index gained 0.17% to 315.60. The Dow Jones Industrial Average fell 0.06% to 22,761.07, while the S&P 500 lost 0.18% to end the day at 2,544.73.

Innovative Industrial Properties Inc. on Friday said it is offering 600,000 shares of its series A cumulative redeemable preferred stock, with a liquidation preference of $25.00 per share. The company's operating partnership will use the funds to invest in specialized industrial real estate assets that support medical cannabis cultivation and processing.

Innovative Industrial shares jumped 1.43%, closing at $19.10.

Starwood Waypoint Homes' proposed merger with Invitation Homes Inc. will be up for a vote at Starwood's special shareholder meeting Nov. 14.

Starwood Waypoint shares climbed 0.45% to close at $36.03, and shares of Invitation Homes increased 0.27% to close at $22.42.

Equinix Inc. paid $93 million in cash to acquire the Zenium data center business in Istanbul from its existing shareholders. The company will change the facility's name to Equinix IS2.

Equinix shares popped 0.55% to close at $451.32.

Smart Real Estate Investment Trust will redeem all its 5.45% convertible unsecured debentures Nov. 6. The debentures, due June 30, 2018, had a C$40.0 million outstanding amount as of market close Oct. 4.

SmartREIT shares ticked up 0.37%, ending the day at C$30.20.

MedProperties Holdings picked up a portfolio of 17 medical office buildings for about $230 million, which the company funded in part with a $160.6 million loan. The Harrison Street Portfolio is 92% leased and spans 620,750 square feet across 10 states, according to Commercial Property Executive.

Developer Cooper Hotels took out a roughly $135.8 million first-mortgage loan for 11 Hilton-branded hotels, according to The Real Deal, citing a statement from lender Sonnenblick-Eichner Co.

DivcoWest Real Estate Services LLC invested $100.5 million in the acquisition of a roughly 205,300-square-foot building in Washington, D.C., from a Clark Enterprises affiliate. DivcoWest funded the purchase with its fifth fund, according to the Washington Business Journal.

Now featured on S&P Global Market Intelligence

Research Roundup: Monday, North American real estate edition: A handful of initiations, a downgrade and a reiteration are featured in this roundup of recent research reports.

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