The broader markets on Friday, May 11, recorded their biggest one-week gains since March, as investor worries that inflation would drive interest-rate hikes faded. Real estate investment trusts closed the week flat.
Uniti Group Inc. disclosed in its first-quarter earnings release that it wrapped up the first tranche of its sale-leaseback and fiber acquisition deal with U.S. TelePacific Holdings Corp. The communications infrastructure REIT also picked up 30 long-haul intercity dark fiber routes from CenturyLink Inc.
Uniti shares jumped 3.81%, closing at $20.30.
The outdoor advertising REIT sector could welcome a new competitor to Lamar Advertising Co. and OUTFRONT Media Inc., as Adams Outdoor Advertising Inc. and Fairway Outdoor Advertising explore a possible REIT conversion or an IPO if they decide to combine, according to Bloomberg Markets, citing an interview with Adams and Fairway CEO Kevin Gleason.
Lamar Advertising shares rose 0.53% to close at $66.88, and Outfront Media shares closed flat at $19.95.
Experiential REIT VICI Properties Inc. filed a registration statement for the sale of up to 54,054,053 common shares held by stockholders from time to time.
Shares of VICI Properties declined 0.63% to close at $19.00.
Canada-based industrial REIT Granite REIT signed a US$232.5 million deal to buy a portfolio of four modern e-commerce distribution facilities near Columbus, Ohio.
Granite REIT increased 2.29%, ending the day at C$52.70.

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The Week in US Real Estate: Blackstone buying Gramercy Property; La Quinta, Wyndham boards approve spinoffs: The May 11 weekly news roundup in the North American real estate space also features a RioCan joint venture's sale of a store in downtown Vancouver, British Columbia, for C$675 million and VICI's $749 million deal for Caesars' real estate assets.
The Week in Private Equity: Blackstone makes US$7.6B logistics real estate deal: The May 11 weekly news roundup in the private equity space also features several other M&A transactions, high-value fundraising closes and personnel moves.
Market prices and index values are current as of the time of publication and are subject to change.
