The Real Deal Miami

REITs could merge in dour economy

April 14, 2009 12:57PM

As the economic crisis continues, the real estate industry may see mergers among real estate investment trusts this year. REITs with high earnings may start to acquire those with lower earnings, said Jay Leupp, a portfolio manager for Grubb & Ellis. Bayside Marketplace owner General Growth Properties is one company that experts say could soon be acquired. Shopping center REIT Ramco-Gershenson Properties Trust also recently announced that several companies have been interested in acquiring it.