Rosemarie Thurston, a partner at Alston & Bird LLP, recently joined Nareit at its Washington, D.C. headquarters to discuss issues related to the public non-listed REIT (PNLR) market.
Thurston discussed REIT internalizations—the process of switching from an external to an internal management team—which is usually considered to be more cost-effective when a REIT gains scale.
“The research has really shown that externally-managed REITs trade at a fairly significant discount to their peers and as a result they’re even subject to more activist campaigns,” Thurston said.
