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Home > Investing > Spotlight on REITs: American Real Estate Investment Corp

Spotlight on REITs: American Real Estate Investment Corp

Money Manager | Monday, June 4th, 2012

American Real Estate Investment Corp: This Company specializes in acquiring apartments and other residential properties; it operates as a Real Estate Investment Trust which means that it does not have to pay income taxes on a large portion of its profits, as it goes straight to the share holders every quarter. This company is based on the East Coast but was founded in Denver Colorado, this company was first a private company and then it later went public. REIT’s where the investment of choice in the 1980’s and 1990’s and became a risky business as 2000 approached, many stock holders and investors put their money elsewhere, in safer investments when the real estate market crashed.

In 1999 American Real Estate Investment Corp changed its name to Keystone property trust in order to change its REIT standings. This company was then traded on the New York Stock Exchange as KTR. American Real Estate Investment Corp had acquisitions and properties all over the USA and was growing at such a rate that it was on course to become the largest REIT in the East, which made it a prime target for any real estate investment company that was looking for a merger or for a buyout.

After Keystone Property Trust acquired American Real Estate Investment Corp is made a few acquisitions before it got merged with Black Creek Group in 1997. This merger lasted until 2004 when the company sold to ProLogis for $1.7 billion dollars US, the biggest acquisition the company had made that year.

ProLogis is now the biggest owner of industrial and commercial real estate in the country, having acquired many of it competitors throughout the years.

American Real Estate Investment Corp properties have had a very long life, being traded from company to company on the search for a long term home, all of these assets are now owned by ProLogis and have since 2004, And unless there is a huge market shift they are most likely to stay in their position for quite some time, as there is no other company in the position to buy them out at this point and time.

ProLogis is a global company that owns properties in many different countries, as well as all the states in the USA. ProLogis has total assets of over $34.9 billion dollars, 477.7 million square feet of space and is in 105 different markets, ProLogis has a long history of buying the competition when it is in financial distress or is looking for a merger, American Real Estate Investment Corp is another real estate trust that has been bought by the bigger company, creating a market that is much smaller with less options.

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