In today’s briefing:
- Governance Issues Were Not Highlighted and the Win-Win by REIT Sponsors and Investors Continues
Governance Issues Were Not Highlighted and the Win-Win by REIT Sponsors and Investors Continues
- While offering non-serious TOB prices, knowing that the likelihood of TOBs by the activist fund is low, the aim to extract concessions from the REIT and sponsor companies was successful.
- The governance problem is the composition of the company, which continues to manage off-balance sheet real estate through its subsidiary REIT asset management company.
- So far, however, governance issues have not received much attention, only confirming the sponsor companies’ willingness to continue REIT control and investors’ benefit from higher REIT stock prices by TOBs.
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