A few years ago, real-estate investment trusts that bought and sold residential-mortgage securities were a dying breed. Today, they are one of the hottest REIT sectors.
The institutional part of Li Ka-shing’s Hui Xian REIT, the first yuan-denominated IPO outside mainland China, was almost fully subscribed on the first day of its launch.
Wells Real Estate Investment Trust II, an untraded REIT, has agreed to pay approximately $615 million for a Washington, D.C., office complex in the latest sign investors are willing to pay peak-era prices for the most sought-after commercial property.