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Home > Investing > Spotlight on REITs: Centerpoint Properties

Spotlight on REITs: Centerpoint Properties

Money Manager | Monday, April 18th, 2011

Centerpoint Properties: The Real Estate Investment Trust is based on industrial properties and buildings, it was founded in 1984 and then entered the London stock exchange in 1986 and the New York Stock Exchange in 1993, the company was first founded in Chicago Illinois.

Centerpoint Properties operated on the New York Stock Exchange for 12 years before it was acquired by Cal East Global Logistics in 2006, still operated under the same name.

Centerpoint Properties is the biggest property owner in the Chicago area; they currently own over 21.4 million square feet of leasable space and 9,700 acres of land that is available for development of industrial space. The company has a strong franchise industry and a very close bond to businesses in the area, which helps them secure most new industrial spaces.

Centerpoint Properties hopes to stay only in the Chicago area, knowing that connections are everything.

Centerpoint Properties has acquired over $175 million dollars’ worth of properties in 2010 and $1.05 billion dollars in the last 5 years, they have a 95% closing rate on their acquisitions and they can usually close a deal quickly and efficiently.

In order for Centerpoint Properties to be interested in a property it must be in the Chicago area and over $1 million dollars, they will buy both portfolios and single buildings and will redevelop and develop properties and buildings that are already in use.

Centerpoint Properties will also sell its properties to create fluid cash or buy a new property; many REITs do not sell properties this company differs in this way.

Centerpoint Properties has won several awards for the management of the business as well as the financial choices that the business has made, some of these awards include: Transaction of the year, Industrial build to suit of the year, Developer of the year, Award of Excellence and Broker transaction of the year.

Centerpoint Properties grows yearly and has never claimed bankruptcy of had to sell off assets to pay of bad debts, this is a good sign for a REIT, although industrial investing is said to be more stable than residential or retail.

Centerpoint Properties is taxed as a Real Estate Investment Trust meaning that the profits are given to the shareholders rather than to the management, 90% of the profit is divided and given to the shareholders and only 10% is taxed at the end of the year.

Centerpoint Properties is a REIT that is thriving in a lagging become, and is said to be a good solid stock to invest in for a good return on your money. They focus on long term relationships with clients that make the company a stable market investment.

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