If the Fed continues with the rate hikes in 2018, cap rate spreads may compress somewhat, according to Chris Muoio, senior quantitative strategist with online real estate marketplace Ten-X.
Fox’s real estate portfolio is vast, including properties in the U.S., South America and Asia, according to regulatory filings.
Overall, the move bodes well for class-A malls in the U.S., according to industry analysts.
Investment banking firm Robert A. Stanger & Co. is predicting that fundraising for non-traded REITs will reach $4.2 billion this year.
The fourth quarter 2017 PREA Consensus Forecast shows that respondents anticipate getting a total return of 5.6 for all property types on the NCREIF Property Index in 2018.
The Paris-based company offered a combination of cash and stock that values Westfield at A$10.01 per share, or about 18 percent more than Monday’s closing price.