REITs in the Community

September 3, 2013 - Rep. Erik Paulsen (R-MN) (center) visits Riverdale Village in Coon Rapids, MN, a property owned and operated by DDR. Congressman Paulsen, a member of the House Ways and Means Committee, received a briefing on the center's economic impact on the area, and he learned about DDR's activities in Minnesota and across the nation from Joseph Tichar (left), DDR's Senior Vice President, Corporate Operations & Chief of Staff, and Thomas Rinka (right), Senior Regional Property Manager, Great Lakes Region. Additionally, they discussed several legislative issues including the Mainstreet Fairness Act, tax reform, and FIRPTA reform.

August 30, 2013 - Rep. George Holding (R-NC) (left) met with Ed Fritsch, President & CEO, Highwoods Properties, Inc., and a member of NAREIT's Executive Committee (right), at his corporate headquarters in Raleigh, NC. During the meeting with Fritsch and several other Highwoods executives, Holding was briefed on the company's recent activities as well as a number of future developments in North Carolina and across the country. The group also discussed the issue of parity regarding the collection of sales and use taxes between internet sales and traditional retailers. The Congressman, a member of the House Judiciary Committee, will be considering this issue in the coming months.

August 27, 2013 - Rep. David Schweikert (R-AZ) (right) met with Spirit Realty Capital’s Chairman & CEO, Tom Nolan, in Scottsdale, AZ. Nolan updated the Congressman on Spirit's activities since last year’s IPO as well as its recent merger with Cole Credit Property Trust II. They also discussed several legislative issues, including tax reform, and the potential impact these issues could have on the REIT industry.

August 26, 2013 - Sen. Jeff Flake (R-AZ) (second from left) met with Macerich executives in his Phoenix office to discuss various issues important to the REIT industry. Pictured with Flake is (from left to right): Greg Cochran, Vice President, Leasing; Dana Anderson, Vice Chairman of the Board; Timothy Corzine, Vice President, Research; and Scott Nelson, Vice President, Development. In addition to providing a brief update of Macerich's activities and developments in Arizona, the group discussed the Mainstreet Fairness Act, FIRPTA reform, extension of terrorism risk insurance, and tax reform.

August 13, 2013 - Sen. Tom Carper (D-DE) (right) visited Tanger Outlets in Rehoboth Beach, DE. Carper toured the property, met with several store managers and greeted constituents. General Manager, Amy Norgate (left), briefed Carper on the economic impact of the property and described opportunities for its future. Norgate also thanked the Senator for his support of the Marketplace Fairness Act and the Real Estate Investment and Jobs Act.

July 15, 2013 - Rep. Ron Barber (D-AZ) (second from right) met with Jeff Berger (right), Senior General Manager of GGP’s Tucson Mall. Along with Jim Copeland (left), Operations Manager and Shannon Luedke (second from left), Marketing Assistant, Jeff briefed the Congressman on the economic impact of the mall on the Tucson region as well as GGP’s investment in the local community.

July 12, 2013 - Sen. Mark Warner (D-VA) (second from right) visited the AvalonBay Communities, Inc. headquarters and met with (from left to right) Tim Naughton, Chairman & CEO, AvalonBay; Ed Walter, NAREIT's 2013 Chair and President & CEO, Host Hotels and Resorts; and Steve Wechsler, President & CEO, NAREIT. Warner, a member of the Senate Banking Committee, was updated on recent activities at both AvalonBay and Host and received a briefing on legislative issues important to the REIT industry, including the pending debate on tax reform, modifications to the FIRPTA law, and extension of the Terrorism Risk Insurance Act. In addition, comments were provided on Warner's recently proposed legislation on GSE reform and its potential impact on the industry.

June 27, 2013 - Amy Norgate (right), General Manager, Tanger Outlets Rehoboth, met with Sen. Chris Coons (D-DE) (left). Amy briefed the Senator on the economic impact of the property and described opportunities for its future. She thanked the Senator for his support of the Marketplace Fairness Act and the Real Estate Investment and Jobs Act.

June 17, 2013 - Rep. Steve Stivers (R-OH) (left), a member of the House Financial Services Committee, visited with Glimcher Realty Trust Chairman & CEO, Michael Glimcher (right), at Glimcher's corporate offices in Columbus, OH. During his visit, Stivers was briefed on Glimcher's current development activities in Ohio and across the nation. In addition, the two discussed several legislative issues important to the REIT industry, including passage of the Marketplace Fairness Act, the pending expiration of the Terrorism Insurance Act, and the current tax reform debate in Congress.

May 28, 2013 - During a tour of the new Central Residence Hall on University of Kentucky's campus, which is being developed by Educational Realty Trust, Rep. Andy Barr (R-KY) (center), received a briefing from Ben Crutcher (left), the University's Associate Vice President of Auxiliary Services, and Mark Grambergs (right), EdR's Vice President, Real Estate Development. During his visit, Barr learned about the successful partnership between EdR and the University of Kentucky to develop this state-of-the-art student housing facility scheduled to open this August.

May 9, 2013 - Regina Stivers (left), Field Representative for Senate Minority Leader Mitch McConnell (R-KY) met with Mark Gambergs (right), Vice President of Real Estate Development, Education Realty Trust, and Penny Cox (center), Vice President, Financial Operations & Treasurer, University of Kentucky, at the newly constructed New Central Residence Hall. The group discussed the successful partnership between EdR and UK and its anticipated impact on student life and the university community.

May 3, 2013 - Sen. John Hoeven (R-ND) (left) visited the corporate headquarters of Investors Real Estate Trust in Minot, ND and met with Tim Mihalick (right) President & CEO. During his visit, the senator was updated on IRET's recent activities in North Dakota and the midwestern US, particularly in the Twin Cities area. In addition, a brief discussion on the Marketplace Fairness Act and the upcoming tax reform debate in Congress was pursued.

April 30, 2013 - Rep. Tim Griffin (R-AR) (right) toured CBL’s Park Plaza Mall in Little Rock, AR and received an update on the mall’s local economic impact. He was also briefed on CBL’s regional and national activities by the mall’s General Manager, Tim White (left). Griffin, a member of the House Ways and Means Committee, engaged in brief discussions on two topics: the Marketplace Fairness Act, a bill that has been proposed to create sales and use tax parity for online and traditional retailers, and the upcoming congressional tax reform debate.

March 27, 2013 - During a visit to southern California, Sens. Jerry Moran (R-KS) (right) and John Boozman (R-AR) (left) were hosted by Macerich Vice Chairman, Dana Anderson (center). Moran, Chairman of the National Republican Senatorial Committee (NRSC) and member of the Senate Banking Committee, and Boozman, a NRSC Vice Chair and member of the Senate Appropriations Committee, met with Anderson and other individuals to provide an update on the NRSC's activities for the coming year. The NRSC is the official committee working to elect Republicans to the US Senate in 2014.

March 26, 2013 - Rep. Kenny Marchant (R-TX) (right) a member of the House Ways and Means Committee, visited the offices of Capstead Mortgage Corporation and met with Capstead's President & CEO, Andy Jacobs (left). Marchant received a detailed briefing during his visit on the company's recent activities in Texas and across the nation. In addition, Marchant was briefed on NAREIT's legislative agenda for 2013, including the subject of tax reform and its potential impact on REITs and the publicly traded real estate industry.

March 18, 2013 - Rep. Todd Young (R-IN) (center) visited with Kite Realty Group Trust’s Chairman & CEO, John Kite (left), and Duke Realty Corporation’s Chairman & CEO, Denny Oklak, in Indianapolis, IN. Young, a member of the House Ways and Means Committee, received an update on Duke and Kite's activities in Indiana and across the country. In addition, the Congressman was briefed on NAREIT's legislative agenda for 2013, including the subject of tax reform and its potential impact on REITs and the publicly traded real estate industry.

January 31, 2013 - Representative Ed Perlmutter (D-CO), a member of the House Financial Services Committee, met with DCT Industrial Trust’s President & CEO, Phil Hawkins, in Lakewood, CO. Hawkins described for Perlmutter DCT’s operations in Colorado and across the nation. He also described some of the benefits and burdens of the REIT approach to real estate investment.

October 23, 2012 - Sen. Orrin Hatch (R-UT) (center) Ranking Member on the Senate Finance Committee, met with Extra Space Storage's President & CEO, Spencer Kirk (left), and Clint Halverson, Vice President, Investor Relations, in Salt Lake City, UT. Kirk and Halverson updated Hatch on the company's assets in Utah and throughout the nation. They also discussed the upcoming tax reform debate that Congress will undertake next year, of which Hatch will play a critical role.

October 18, 2012 - Rep. Earl Blumeanuer (D-OR), a member of the House Ways and Means Committee, participated in the Grand Opening of University Pointe at College Station, a newly constructed student housing property developed by American Campus Communities (ACC) in partnership with Portland State University (PSU). During the ceremony, Blumenauer (center), ACC President & CEO, Bill Bayless (left), PSU President, Wim Wiewel (right), and others highlighted the many benefits of the development for the University and its surrounding neighborhood. The building, which is seeking LEED Gold certification, has dramatically increased the ability of PSU to offer on-campus housing options to its students.

October 18, 2012 - Rep. Devin Nunes (R-CA) (center) toured General Growth Properties’ Visalia Mall in Visalia, CA. During his visit, the Congressman received an update on GGP’s economic impact within the district, throughout the state, and nationally. They also discussed the Marketplace Fairness Act, a bill that has been proposed to create sales and use tax parity for online and traditional retailers. Pictured with Nunes (from left to right) are Denise Marsicano, Vice President, Leasing; Richard Feder, General Manager, Visalia Mall; Kevin Berry, Vice President, Investor Relations; and Carol Jacobs, Vice President, Asset Management.

October 9, 2012 - Rep. Tom Price (R-GA) (second from left) recently visited with executives from Piedmont Realty Trust and was updated on the company's current development projects in Georgia and throughout the country. Pictured with Price are (from left to right) Don Miller, CEO; Robert Bowers, CFO; and Bo Reddic, Executive Vice President, Real Estate Operations.

October 8, 2012 - David Henry, Vice Chairman, President & Chief Executive Officer, Kimco Realty, hosted Rep. Peter Welch (D-VT) at Kimco's office in Manhattan. Henry briefed the Congressman on the history of Kimco and the challenges and opportunities facing owners of neighborhood and community shopping centers. The two also discussed the role REITs have played this and past economic recoveries, Welch's leadership in advocating for sales tax fairness between online and bricks-and-mortar retailers, and his efforts to modify federal tax incentives for energy efficient buildings to enhance their usefulness for REITs.

October 4, 2012 - Rep. Kevin McCarthy (R-CA) (center) U.S. House of Representatives Majority Whip, met with executives from several California-based REITs to update him on the industry’s activities in his district and in California. In addition to thanking McCarthy for his support on several policy issues, these executives discussed the upcoming tax reform debate and expressed their support for passage this year of the Marketplace Fairness Act. Pictured with McCarthy are (left to right) Pilar Hoyas, Vice President, Public Affairs, Watson Land Company; Ron Havner, President, CEO & Chairman, Public Storage and NAREIT Second Vice Chair; Wayne Hughes, Jr., Trustee, Public Storage; Dana Anderson, Vice Chairman, Macerich; Bruce Choate, President & CEO, Watson Land Company; Jennifer Johnson, Director, Public Affairs, Watson Land Company; Tyler Rose, Executive Vice President & CFO, Kilroy Realty Corporation; and Robert Dibblee, Senior Vice President, Government Relations, NAREIT.

October 4, 2012 - Larry Gellerstedt, III (left), President & CEO of Cousins Properties met with Rep. John Lewis (D-GA) (right), a senior member of the House Ways and Means Committee. Gellerstedt briefed the Congressman on Cousins Properties' investments in Atlanta and around the nation, and he highlighted the diversification and income generation benefits that REITs offer to investors from all walks of life.

September 25, 2012 - Rep. Dennis Ross (R-FL) (second from right) visited Regency Center’s Regency Square Shopping Center in Brandon, FL and met with (from left to right) Jessica Torres, Senior Leasing Administrator; Cary Anderson, Senior Leasing Agent; and Mike Kinsella, Senior Market Officer. Ross was briefed on the economic impact that the Regency Square Center is having on his district as well as a summary of Regency’s other properties located throughout Florida. A discussion on the legislative proposal currently in Congress to create sales and use tax parity for online and traditional retailers, which Ross is currently supporting, was also pursued.

August 28, 2012 - Rep. Mike Thompson (D-CA) met with Maura Eggan (left), Vice President, Marketing and Dan Bernier (right), Vice President, Management, of Simon's Premium Outlets' Western Region. Eggan and Bernier briefed the Congressman on Simon's investments in California and across the nation. Specifically, they discussed the contributions of the Napa Premium Outlets to the economy of California's wine region. In addition to thanking the Congressman for his support on a number of policy issues related to the ability of REITs and other real estate companies to access equity capital and debt financing in the current economic climate, Eggan and Bernier urged the Congressman to support the Marketplace Fairness Act.

August 22, 2012 - Rep. Francisco Canseco (R-TX) (middle) visited GGP’s The Shops at La Cantera located in San Antonio, TX. During his visit he received an update on the mall’s activities, GGP’s operations in Texas and across the country, and learned about several legislative issues being pursued during the 112th Congress – including the Marketplace Fairness Act to achieve greater tax fairness from internet commerce and the introduction of the US REIT Act to make minor modifications in the REIT rules. Pictured with Canseco (right to left) is Scott Sutherland, GGP Vice President, Asset Management; Kevin Berry, GGP Vice President, Investor Relations; Michelle Robertson, Senior Marketing Manager, The Shops at La Cantera; and John Badagliacco, Senior General Manager, The Shops at La Cantera.

July 23, 2012 - Sen. Kay Hagan (D-NC) met with Ed Fritsch, President, CEO & Director (right) and Skip Hill (left), Vice President, Raleigh of Highwoods Properties, Inc. Fritsch and Hill briefed the Senator on the state of the REIT industry in North Carolina and across the nation. Additionally, the group discussed a number of policy issues related to the ability of REITs and other real estate companies to access equity capital and debt financing in the current economic climate.

July 16, 2012 - Rep. Kevin McCarthy (R-CA), House Majority Whip, met with executives from Watson Land Company. Pictured here with McCarthy (second from left) are (left to right) Pilar Hoyos, Vice President, Public Affairs; Bruce Choate, President & CEO; Jennifer Johnson, Director, Public Affairs; Brad Fraizer, General Counsel & Corporate Secretary; and Roger Von Ting, CFO. McCarthy, the third ranking Republican in the House of Representatives, was briefed on the current status of the REIT industry in California and across the nation. In addition, the Watson executives discussed H.R. 5746, the Update and Streamline REIT Act (US REIT Act), which was introduced in May. McCarthy appreciated the briefing and provided his insights on the issues he expects Congress to address throughout the remainder of this year.

June 5, 2012 - Rep. Pat Tiberi (R-OH) (right) met with Dan Hurtwitz, Chairman & CEO, DDR (second from right), and Michael Glimcher, Chairman & CEO, Glimcher Realty Trust (third from right), and was briefed on the current status of the REIT industry in Ohio. The REIT executives thanked Tiberi, a member of the House Ways and Means Committee, for recently introducing H.R. 5746, the Update and Streamline REIT Act (US REIT Act), and they discussed ongoing legislative efforts to reform the Foreign Investment in Real Property Tax Act, achieve sales, and use tax parity for online and traditional retailers. Tiberi provided his insights on what issues he expects Congress to address throughout the remainder of this year and in the upcoming Lame Duck session, including tax reform and other miscellaneous tax matters. Also pictured with Tiberi is NAREIT President & CEO Steve Wechsler (left) and Joseph Tichar of DDR (second from left).

April 30, 2012 - Rep. Bill Huizenga (R-MI) (right) visited CBL & Associates Properties, Inc.’s The Lakes Mall in Muskegon, MI and met with Michael Hagen (left), the mall’s General Manager. Huizenga and his District Director, Greg VanWoerkom, were briefed on the economic impact that The Lakes Mall is having on the Muskegon and western Michigan area. Huizenga was also briefed on several legislative issues being pursued during the 112th Congress, including the Marketplace Fairness Act and the soon-to-be introduced US REIT Act.

March 17, 2012 - Sen. Orrin Hatch (R-UT) (center), Ranking Member on the Senate Finance Committee, toured Taubman Centers' new City Creek Center located in downtown Salt Lake City, UT, which is scheduled to open on March 22. Conducting the tour for Hatch were City Creek Center General Manager, Linda Wardell (right), and Tabubman Centers Director of Communications, Karen Mac Donald (left). Hatch was briefed on several issues pending before Congress that impact REITs and the publicly traded real estate industry, including passage of the Marketplace Equity Act and reform of the Foreign Investment in Real Property Act.

December 22, 2011 - Rep. David Schweikert (R-AZ) (left) visited Macerich's Scottsdale Fashion Square Mall in Scottsdale, AZ and met with Dana Anderson, Vice Chairman, Macerich (right). Schweikert toured the center and then met privately with Anderson and other Macerich officials, including Fashion Square Mall Manager, Steve Helm, to discuss several legislative issues now before the 112th Congress, including passage of the Main Street Fairness Act and reform of the Foreign Investment in Real Property Act. The Congressman appreciated the chance to visit a REIT property located in his congressional district, and he indicated he would review these two issues and consider cosponsoring each proposal.

October 24, 2011 - Sen. Roger Wicker (R-MS) (second from right) visited Parkway Properties, Inc.’s The Pinnacle at Jackson Place in Jackson, MS. Wicker met with Parkway Properties, Inc. executives, including Charles Cannada, incoming Chairman of Parkway as of 1/1/12 (left), Steve Rogers, Parkway President & CEO (second from left), and David Hoster, CEO & President, EastGroup Properties, Inc (right). Wicker was briefed on the economic impact REITs have on Jackson and Mississippi. In addition, they were informed about several REIT-related issues being pursued in the 112th Congress, including reform of the Foreign Investment in Real Property Tax Act, and the future of the Terrorism Risk Insurance Act (TRIA).

August 30, 2011 - Rep. Renee Ellmers (R-NC) (center) visited Highwood’s RBC Plaza Center in Raleigh, NC and met with Highwoods Properties’ executives, including President & CEO, Ed Fritsch (right). Also participating in the visit was House Republican Majority Whip Kevin McCarthy (R-CA) (left), the third ranking Republican in the House of Representatives who spent the day in Raleigh with Ellmers. Ellmers and McCarthy were briefed on the economic impact the RBC Plaza Center and Highwoods’ other properties have on downtown Raleigh and throughout North Carolina and the country. In addition, they were informed about several REIT-related issues being pursued in the 112th Congress, including reform of the Foreign Investment in Real Property Tax Act and introduction of the US REIT Act to make minor modifications in the REIT rules.