IRVING, TX-Student housing REITs have been a boon for the entire industry because of the standardized performance metrics they have established, according to a panel of REIT executives who spoke at the 4th Annual RealShare Student Housing conference here at the Four Seasons Resort & Club.
The panel, titled “The State of the REITs”, brought together the CEOs of all three student housing REITs, providing conference attendees with the rare opportunity to see the leaders all together. More than 400 professionals attended the student housing event, which was produced by ALM-Real Estate Media Group.
The panel included: Bill Bayless, president & CEO of American Campus Communities; Randy Churchey, president & CEO of Education Realty Trust; and Ted Rollins, co-founder, co-chairman of the board & CEO of Campus Crest Communities. Brian Thompson, senior vice president of Harrison Street Real Estate Capital, moderated the panel.
Bayless said student housing REITs have created the foundation for other student housing operators when it comes to important performance metrics. The standardized metrics make it possible to analyze and value student housing properties consistently, something that is especially important for lenders and equity partners, he noted.
Of equal importance: the scrutiny that Wall Street analysts apply to the sector. “We have 14 analysts covering the sector,” Bayless pointed out. “There is a great amount of Wall Street research that has been the determining factor in establishing fundamentals.”
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