Nareit is celebrating 65 years of REITs by interviewing key figures who have helped shape the industry, including Connie Moore, former president and CEO of BRE Properties, Inc., Nareit 2009 chair, Nareit 2020 Industry Leadership Award recipient, and a board member at Healthcare Realty Trust Inc. (NYSE: HR).
Moore highlighted the enduring importance of access to capital, calling it the “oxygen” of the industry, especially given REITs’ dividend payout structure and lessons learned from the global financial crisis. “It’s really about access to capital, access to multiple sources of capital,” she said, adding that focusing on the balance sheet “allows you complete flexibility no matter what the economic cycle is.”
While the industry’s growth hasn’t surprised Moore, the limited consolidation across sectors has. She highlighted the expansion of REITs beyond traditional assets, offering retirees diversified portfolios and steady dividends.
Looking ahead, Moore said she is optimistic about REITs’ adaptability amid rapid technological change and shifting demographics. “I think REITs have an amazing opportunity to continue to evolve,” she noted, with REITs well-positioned to integrate innovations like AI and enhance tenant and customer engagement.
For future professionals, Moore’s advice is clear: develop a strategic mindset, understand both domestic and international capital markets, embrace operational experience, and remain curious.