Nareit Welcomes New Member

10/19/2018 | by

Nareit is pleased to welcome Retail Value Inc. (NYSE: RVI) as its newest corporate member.

Retail Value Inc. is a spin-off of SITE Centers Corp. (NYSE: SITC), formerly DDR Corp., and includes SITE's U.S. shopping centers and Puerto Rico assets. The spinoff was first announced at the end of 2017 and completed in July 2018, and is part of retail REIT SITE’s broader portfolio transformation.

SITE CFO Matt Ostrower told Nareit in June that the company will ultimately liquidate the new REIT in the next two to five years.

(Contact Bonnie Gottlieb: BGottlieb@nareit.com)

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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.