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REIT Replay: Sweet and sour

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REIT Replay: Sweet and sour

REITs posted healthy gains and the broader markets remained in the red Thursday, Dec. 29.

The SNL US REIT Equity Index rose 1.06% to close at 302.87, while the MSCI US REIT Index (RMZ) increased 1.15% to end the day at 1,133.82. The Dow Jones Industrial Average ticked down 0.07% to close at 19,819.78, and the S&P 500 fell 0.03%, closing at 2,249.26.

New York REIT urged its stockholders to vote in favor of its proposed liquidation and dissolution plan at the REIT's special stockholder meeting to be held Jan. 13, 2017. According to a Wednesday statement, independent proxy advisory firms recommended that New York REIT's stockholders support the plan.

New York REIT shares inched up 0.10% to end the day at $10.09.

Everest REIT Investors I LLC offered to acquire up to 950,000 shares of KBS Legacy Partners Apartment REIT Inc.'s common stock at $7.50 per share through a cash tender offer set to expire Feb. 6, 2017, according to a Thursday statement.

Healthcare Trust Inc., in a Wednesday filing, said its board named Lee Elman as an independent director, effective Dec. 21.

Griffin Capital Essential Asset REIT II Inc. said in a Thursday filing that it purchase a two-building office property on 19.8 acres in Birmingham, Ala., for $131.6 million. The property is fully leased to Southern Co. Services Inc.

Pure Multi-Family REIT LP agreed to pay US$40.0 million to acquire a multifamily apartment community comprising 288 residential units in Dallas. The company said in a Wednesday statement that the deal is expected to close in late January 2017.

Shares of Pure Multi-Family REIT gained 1.00%, closing at $6.07.

Now featured on S&P Global Market Intelligence

The Property Ledger: Gramercy details £21M of UK asset sales; Four Corners buys 4 Burger King assets: The Dec. 29 edition of the North American property roundup also features St. Joe's joint venture agreement over a mixed-use residential and commercial community in Florida.

Hires and Fires: Real Estate moves through Dec. 28, North America edition: This feature presents a weekly rundown of recent significant management and board changes and personnel moves in the North American real estate industry, including U.S. REITs and REOCs, homebuilders and gaming operators.

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