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REIT Replay: Pullback

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REIT Replay: Pullback

A drop in oil prices dragged the broader markets down Monday,July 25, with the S&P 500 closing below Friday's record level. REITs also traded lower.

The MSCI US REIT Index (RMZ) slid 0.12% to 1,265.83, and theSNL US REIT Equity Index fell 0.19% to finish at 337.69. The Dow Jones IndustrialAverage gave up 0.42% to close at 18,493.06, while the S&P 500 lost 0.30% toend the day at 2,168.48.

Liberty PropertyTrust struck a $969 million deal to sell 108 properties and about 26.7 acres of land, as partof its plan to divestroughly $1 billion of its noncore suburban assets in 2016. The properties and landare spread across Arizona, Minnesota, Pennsylvania and Florida.

Workspace Property Trust, in partnership with Safanad Ltd., isacquiring the properties in a deal slated to close late in the third quarter, accordingto separate statements released Monday.

Liberty shares gained 0.66% to close at $41.23.

Business Real Estate Weeklyof Arizona reported that a 1,009,351-square-foot warehouse fully leased to Amazon.comin Phoenix has changed hands for roughly $74.8 million. Duke Realty Corp. reportedly sold the property to a Koll Co. venture via its DH BuckeyeLLC unit.

Duke Realty shares ticked up 0.15% to $27.58.

Carey WatermarkInvestors 2 Inc. pickedup the 372-room San Diego Marriott La Jolla hotel in San Diego's LaJolla submarket for an undisclosed sum, strengthening its foothold on the West Coast.

In executive moves, QTSRealty Trust Inc. said Monday it selected David McOmber, a former IBMexecutive, to serve asits executive vice president for public sector and federal sales.

QTS Realty shares slid 1.45%, closing at $55.86.

Fitch Ratings affirmedSimon Property Group Inc.'sratings and certain ratings of its subsidiaries, with a stable outlook.

The action takes into account the REIT's "high-quality"retail real estate portfolio, market edge in capital access and financial flexibility,among other factors.

Simon shares slipped 0.36% to close at $224.48.

Several companies detailed recent capital raising activity Monday.

Sovran Self StorageInc. closedon a private placement of $200 million of senior unsecured notes, with plans touse the proceeds to partially repay its outstanding line of credit.

Sovran shares dipped 1.98%, closing at $105.11.

Inovalis Real EstateInvestment Trust pulledin gross proceeds of roughly C$46.0 million in a bought-deal and will use the net proceedsprimarily for future office property acquisitions in France and Germany, as wellas for potential CapEx involving its currently owned assets.

Inovalis shares edged 0.21% lower to C$9.50.

NorthWest HealthcareProperties REIT reapedroughly C$141.2 million in gross proceeds in a bought-deal offering of units and debentures, including C$5 million ofunits sold in a private placement. The company is using the net proceeds to helpfund its strategic investments in Australia and New Zealand, as well as its of two hospitals in Brazil.

NorthWest Healthcare shares gave up 0.88%, closing at C$10.16.

Further, WPT IndustrialReal Estate Investment Trust increasedthe total gross proceeds raised in its recently completed bought-deal unit to about US$69 million fromroughly US$60 million, following the exercise of the underwriters' 814,485-shareoverallotment option that generated US$9 million in additional proceeds.

WPT Industrial shares shed 0.27%, ending the day at $11.07.

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