REIT Internalizations Becoming Increasingly Popular, Lawyer Says

February 28, 2020 | Sarah Borchersen-Keto | Nareit

Rosemarie Thurston, a partner at Alston & Bird LLP, recently joined Nareit at its Washington, D.C. headquarters to discuss issues related to the public non-listed REIT (PNLR) market.

Thurston discussed REIT internalizations—the process of switching from an external to an internal management team—which is usually considered to be more cost-effective when a REIT gains scale.

“The research has really shown that externally-managed REITs trade at a fairly significant discount to their peers and as a result they’re even subject to more activist campaigns,” Thurston said.

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