Green Street



Jim Sullivan says High Real Estate Prices are Driving Interest in REIT Spin-Offs

In a late 2015 interview, Jim Sullivan, President of Green Street’s Advisory Group, explains that the interest in REIT spin-offs this year is being driven by record-high real estate prices and the wide gap in earnings multiples between REITs and operating companies. Real estate maximization strategies are company-specific, but Sullivan’s advice, “Invest the time and understand what you have or don’t be surprised to see activist investors.”