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Why REITs Matter Again

Listed real estate is regaining momentum as lower interest rates, constrained new supply, and attractive public-market valuations strengthen the outlook for REITs. Public-to-private valuation gaps, rising M&A activity, and limited development pipelines are creating opportunities in sectors with strong underlying demand, including healthcare, logistics, rental housing, essential retail, and data centres. REITs are also benefiting ...

Listed real estate is regaining momentum as lower interest rates, constrained new supply, and attractive public-market valuations strengthen the outlook for REITs. Public-to-private valuation gaps, rising M&A activity, and limited development pipelines are creating opportunities in sectors with strong underlying demand, including healthcare, logistics, rental housing, essential retail, and data centres. REITs are also benefiting from renewed investor preference for liquid, transparent exposure to income-producing real assets as stresses emerge in parts of the private credit market.
Uma Moriarity, CFA

Uma Moriarity, CFA

Senior Investment Strategist and Global Head of Sustainability, CenterSquare Investment Management

Uma Moriarity is the Senior Investment Strategist and Global Head of Sustainability. She focuses on investment strategy and leads thought leadership across the Firm’s public and private real estate platforms. She is part of the listed real estate investment team and serves on CenterSquare’s Private Real Estate Investment Committee. Uma leads the Firm’s Environmental, Social, and Governance (ESG) strategy to incorporate ESG into the decision making and management of listed and private real estate investments to create long-term value, reduce risk, and generate superior risk-adjusted investment returns. Prior to joining CenterSquare, she spent three years in corporate strategy and planning at ExxonMobil in Houston. Uma graduated from The Pennsylvania State University with Interdisciplinary Honors and High Distinction and holds a B.S. in Finance with a minor in International Business, B.S. in Accounting, and Master of Accountancy. She is a CFA charter holder and member of the CFA Institute, and a LEED Green Associate. She currently serves on the Board of Directors for Green Building United, the Penn State Smeal Sustainability Advisory Board, the FTSE EPRA Nareit Americas Regional Advisory Committee, and serves on the Penn State Board of Trustees.
Joachim H. Kehr

Joachim H. Kehr

Portfolio & Regional Head, Asia-Pacific, CenterSquare Investment Management

Joachim Kehr is Portfolio & Regional Head Asia-Pacific and joined CenterSquare in 2011. He is based in Singapore. He has pan-Asian portfolio management experience, having previously held primary coverage of real estate in China, Japan and Australia. Joachim brings close to two decades of investment management experience to his role. He holds a MSc in International Economics with Honours from Tilburg University, The Netherlands and Peking University, China. Prior to joining the firm, Joachim was an analyst for listed real estate with BNP Paribas Asset Management in Amsterdam and Singapore. He currently serves on the Singapore Chapter Board of the Asia Pacific Real Assets Association (APREA) and the FTSE EPRA Nareit Asia Pacific Regional Advisory Committee.