Nareit Welcomes New Member

07/30/2018 | by

Nareit is pleased to welcome CorePoint Lodging Inc. (NYSE: CPLG) as its newest corporate member.

CorePoint Lodging is a brand-new entity—a spin-off of the well-known La Quinta hotel brand. In May 2018, CorePoint became a publicly-traded REIT on the NYSE. With the spin-off, La Quinta separated its real estate from its franchise and management business—which was subsequently sold to Wyndham Hotel Group. CorePoint represents the real estate portion of the overall operation and is currently the largest franchisee of Wyndham.

CorePoint Lodging owns a portfolio of 316 hotels and more than 40,000 rooms in locations nationwide. Properties in the CorePoint portfolio are primarily in or near employment centers, airports, and major travel thoroughfares. Keith Cline is the company’s CEO.

Contact: Bonnie Gottlieb

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.