Tim Pire, a professor at Marquette University and the University of Wisconsin-Madison, joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Pire, a former managing director and manager at Heitman Real Estate Securities LLC, reflected on the changes in the REIT industry that have occurred during the past 25 years. He noted that REITs have grown in size and sophistication and are now “true corporations that own and operate real estate.”
As for the creation of the Real Estate Sector in the Global Industry Classification Standard (GICS), Pire said the change will have a positive impact in the long term.
“By creating another industry classification, large, generalist investors can’t ignore REITs,” Pire said.
Meanwhile, Pire noted that as he works with students he is emphasizing that REITs represent the “confluence of real estate fundamentals and capital markets.”