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Nareit is the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Find out what Nareit can do for you. Nareit Membership A Look at

A Look at Nareit Membership · perspective of the real estate industry. Assistance in sharing year-end tax information with mutual funds, brokers, and investors. Nareit advocates

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Page 1: A Look at Nareit Membership · perspective of the real estate industry. Assistance in sharing year-end tax information with mutual funds, brokers, and investors. Nareit advocates

Nareit is the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets.

Find out what Nareit can do for you.

Nareit MembershipA Look at

Page 2: A Look at Nareit Membership · perspective of the real estate industry. Assistance in sharing year-end tax information with mutual funds, brokers, and investors. Nareit advocates

Each day, Nareit represents its members by communicating the benefits of REIT-based real estate investment to the public, policymakers, and the global investment community.

For 60 years, Nareit has been the representative voice for the U.S. REIT and publicly traded real estate industry. before U.S. policymakers. We educate key stakeholders about the important roles that REITs and REIT investment play in job creation, economic growth, and the lives of millions of investors. We are also an information resource for policymakers in countries around the world that have introduced or are considering introducing REITs.

One of our goals is to show how REITs operating as real estate companies help serve the public’s interest. This includes individual members of a community, investors saving for the future, and consumers who require goods and services made available through the use of real estate.

As the CEO of Nareit, it is my privilege to interact with and represent REIT senior management teams and their associates coming from every sector and all market caps, and I appreciate your interest in becoming a Nareit member.

Sincerely,

Steven A. Wechsler

President & CEO

A Look at Nareit Membership REIT.com n 1

To actively advocate for REIT-based real estate investment with policymakers the global investment community.

Our Mission

To ensure that everyone has the opportunity to benefit from real estate investment.

Our VisionFrom setting industry standards, to advocating for the REIT industry, to coordinating industry events for management teams & the investment community, Nareit is the organization that brings it all together.”

— Tom HerzogCEO

Healthpeak Properties, Inc.

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2 n REIT.com A Look at Nareit Membership

Nareit Working For You

A Look at Nareit Membership REIT.com n 3

259 corporate members: Nareit corporate members are all types of REITs as well as publicly traded real estate companies from all sectors that are based in the U.S. or in any country that has its own REIT regime.

The total equity market cap for our equity and mREIT members is $1.36 trillion.

1,200+ individual members of the REIT community who work to provide a range of financial, legal, tax, accounting and other services.

* data as of Dec. 31, 2019

Who Are Our Members?

REITs of all types collectively own more than $3 trillion in gross assets across the U.S., with public REITs owning approximately $2 trillion in real estate assets. Public equity REITs own more than 520,000 properties. U.S. stock-exchange listed equity REITs have an equity market capitalization of more than $1 trillion.

When fully staffed, Nareit has 46 full-time employees, with an average tenure of 10 years.

10 yrs.

In 2019, more than 6,000 REIT industry professionals attended Nareit events.

6,000

In 2019, Nareit hosted 44 meetings between members of Congress and REIT executives in congressional districts.

44

REIT.com exceeded the 1 million users mark for the first time ever in 2019.

1 millon

REIT Industry Overview

Nareit was founded in 1960, the same year REITs were enacted by Congress.

1960

In 2019, Nareit’s Investor Outreach team had over 600 meetings with organizations in the investment industry.

600

259 Corporate members

1,200+ Individual members

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Member Benefits OverviewThere’s a reason why 96% of U.S. REITs* are members of Nareit. Nareit corporate members benefit from:

High-level interaction with investors—Nareit hosts the largest annual REIT investor event, open only to Nareit corporate members, that brings together investors, members of REIT management teams, and industry leaders.

Federal and state advocacy—Nareit advocates on its corporate members’ behalf and works to protect and promote their interests.

Increased visibility—Members are featured in Nareit’s publications, website, and social media accounts.

Investor outreach—Nareit meets with top investment consulting firms, pension funds, retirement plans sponsors, and providers on our members’ behalf to educate them on REITs and real estate investment.

Research and industry information—Members gain access to reports, analysis, communication guides, and member-only publications providing the latest trends in the industry.

Savings on events, products, and services—Nareit members receive reduced prices on all Nareit events; Nareit’s Annual Compensation Survey; access to Nareit’s directors and officers liability insurance program (underwritten by Arch); and more.

*As a percentage of equity market cap

When I first become a CEO, Nareit was the best place for me to have an opportunity to meet and learn from the most respected leaders in our industry. I was welcomed from my first meeting on and anyone I wanted to meet or talk to was accessible and happy to help provide guidance.”

— Jim ConnorCEO

Duke Realty Trust

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Policy & PoliticsNareit Advocates For You

With more than 112 years of combined experience in Washington, Nareit’s Policy & Politics team is dedicated to advocating at both a federal and state level on behalf of our members.

Speaking as the voice of the REIT industry, we work tirelessly to promote our members’ collective best interests. Nareit corporate members benefit from:

A unified, authoritative voice championing the issues impacting your business. Nareit’s Policy and Politics team works on your behalf at federal and state levels (and internationally) to preserve and promote members’ collective best interest.

The opportunity to have your voice heard and elevate the issues that are important to you and your business. Members have the opportunity to join Nareit committees, subcommittees, councils, task forces and initiatives.

Being the first to know about policy updates and information that may impact your business. Nareit sends out email alerts exclusively to members.

Opportunities to participate in meetings with legislators in congressional districts to share the impact your business makes on the community.

Representation before the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). Nareit works directly with FASB, IASB, and our corporate members to best represent the perspective of the real estate industry.

Assistance in sharing year-end tax information with mutual funds, brokers, and investors.

Nareit advocates for the REIT approach to real estate investment all over the world. Nareit met with government officials and submitted comments with respect to many countries’ adoption of REIT rules modeled after the U.S. approach. Today, nearly 40 countries have REITs, including all G7 countries. Nareit also frequently engages with the OECD to ensure REIT interests are represented globally.

Nareit’s Policy & Politics team also helps oversee REITPAC, the only political action committee in the U.S. dedicated solely to issues relevant to REITs and publicly traded real estate companies.

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1999Supported Congress’ enactment of the REIT Modernization Act of 1999, which included the creation of taxable REIT subsidiaries.

2002Helped to form and then to coordinate the Coalition to Insure Against Terrorism, which was successful in supporting Congress’ enactment of the Terrorism Risk Insurance Act in 2002, and which was later extended in 2005, 2007, 2015 and 2019.

2015Supported Congress’ enactment of the Update and Streamline REIT Act in 2015 as part of the PATH Act, which included doubling the amount of non-U.S. investment in publicly listed REITs without triggering a FIRPTA tax.

2017Successfully worked with the IRS and Treasury Department that issued a Revenue Procedure in 2018 confirming that the Subpart F income and income under the GILTI rules enacted in the 2017 tax reform bill generate qualifying income under the 95% REIT gross income test.

2019Advocated for proxy reform initiatives at the U.S. Securities and Exchange Commission, which in late 2019 issued proposed rules supported by Nareit on proxy resubmission thresholds and proxy advisor reforms.

Nareit has an impressive track record, having helped shape landmark legislation and policy decisions.Highlights Include:

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A Look at Nareit Membership REIT.com n 9

Research & Investor OutreachNareit’s Research & Investor Outreach team informs and educates institutional investors, financial advisors, policymakers, and the public about REITs and their important role in well-diversified portfolios. Nareit research provides valuable insights to Nareit members on investor communication strategies.

Outreach with an Impact

In 2019, Nareit’s Investor Outreach team conducted over 600 direct meetings with investment consulting firms, pension funds, retirement plan sponsors, investment managers, and organizations in the investment industry. Direct meetings spread the message that REITs provide low cost, transparent, and liquid access to the commercial real estate asset class.

Nareit provides education on the role of real estate—and REITs in particular—in defined benefit and defined contribution pension plans, which represent over $16 trillion in assets.

In recent years, Nareit has conducted a series of direct marketing campaigns targeting more than 50,000 U.S.-based registered investment advisors (RIAs) to promote REIT-based real estate investment to the retail investor marketplace.

Nareit conducts international outreach in Europe, the Middle East and Asia. During 2019, Nareit conducted direct meetings with some of the world’s largest pension plans and sovereign wealth funds.

Powerful Research that Elevates the REIT Industry

Nareit conducts REIT research and analyses—and sponsors third-party research on the benefits of the REIT approach to real estate investment—that is published on REIT.com and shared via multiple media outlets and newsletters.

Nareit’s research demonstrates the competitive, long-term market performance record, and diversification benefits of REITs. Nareit members gain exclusive access to Nareit sponsored market research, including a recent study that examines the investment predispositions and expectations of generalist investors.

Nareit provides sought-after industry data, including: Summaries of domestic

and global REIT performance indexes via the FTSE/EPRA Nareit and FTSE Nareit Indexes

REITWatch, a monthly statistical publication providing a snapshot of the REIT industry

T-Tracker, the only comprehensive quarterly measure of the U.S. listed REIT industry’s operating and dividend performance

High-quality sponsored research

A quarterly newsletter with the latest REIT-related research and analyses

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REITworks Conference

REITworks is an educational conference where REIT industry professionals have the opportunity to learn about the latest developments in environmental stewardship, social responsibility, and good governance impacting the real estate sector. CPAs and HR professionals also have the opportunity to earn continuing education credits. Attendees can customize an individualized event program to suit their needs, interests, and goals.

REITworld: Annual Conference

Every November, Nareit’s REITworld: Annual Conference brings together more than 1,400 REIT executives, investors, and industry professionals. Nareit corporate members can host private meetings with investors and participate in networking events and educational sessions.

A Look at Nareit Membership REIT.com n 11

CEO Forum & Advocacy Day

Every February, Nareit corporate member CEOs come to Capitol Hill to discuss issues relevant to the REIT industry with policymakers. Members have the unique opportunity to meet directly with policymakers and advance issues essential to their company’s success.

REITwise: Law, Accounting, Finance Conference

Nareit’s REITwise: Law, Accounting & Finance Conference provides attendees with in-depth information on the latest developments impacting legal, financial, tax, and accounting professionals in the REIT and publicly traded real estate industry. REITwise also offers opportunities to earn CPE/CLE credits. Nareit corporate and individual members receive significant savings on registration fees.

REIT Investor Relations Symposium

Nareit and the New York Stock Exchange partner to host this event, designed exclusively for REIT investor relations professionals. Conveniently held the day before REITweek and open only to Nareit members, this one-day program covers best practices for investor communications, IR trends, and more.

REITweek: Investor Conference

Every June, Nareit corporate members are invited to attend the largest gathering of institutional investors interested in REITs at Nareit’s REITweek. REITweek is an invitation-only event held annually in New York that allows Nareit corporate member REITs to connect with investors through one-on-one private meetings, luncheons, and individual company presentations. Nearly 3,000 REIT executives, investors, and analysts attend REITweek annually.

Build Industry Connections at Nareit Events

Nareit brings members, investors, and industry stakeholders together via Nareit-sponsored meetings and conferences. These high-level events serve to extend the industry’s core messages, provide educational opportunities, give subject matter experts a forum to express their viewpoints, and facilitate networking with peers. Nareit members receive discounted registration and access to exclusive investor-only events.

10 n REIT.com A Look at Nareit Membership

In over 25 years, I have not missed REITweek or REITworld. They have proven essential, and are among the most focused, informative and well-attended conferences in the REIT industry.”

— Michael SchallPresident & CEO

Essex Property Trust, Inc.

“Nareit hosts six annual events that connect its members to peers, investors, policymakers, and other key stakeholders.

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Nareit Supports REIT Industry ESG Efforts

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Nareit seeks to actively encourage the development and adoption of effective environmental, social, and governance practices in real estate through its ESG knowledge-sharing and capacity-building initiatives.

In addition to the annual ESG-focused conference, REITworks, Nareit hosts the JumpStart Workshop, exclusively available to corporate members. Whether your organization is struggling to take its program to the next level—or you’re just figuring out where to start—this one-day intensive workshop will guide you through the steps needed to implement a successful ESG program.

Nareit members also have the opportunity to join the Real Estate Sustainability Council (RESC), an active group of sustainability thought leaders—representing all REIT sectors—with a mission to help shape and lead the REIT industry on ESG issues.

Nareit produces several valuable ESG-related resources, including:

REIT Industry ESG Report. This annual report provides a review of the state of ESG practices within the REIT industry—including case studies of corporate member achievements. The report can be easily shared with investors to help contextualize REITs as leaders in ESG practices in the real estate industry.

Nareit Guide to ESG Reporting Frameworks. This guide helps Nareit corporate members better understand and navigate the array of environmental, social, and governance reporting frameworks and the most commonly used metrics in a user-friendly document.

REIT ESG Dashboard. This online tool tracks ESG key performance indicators for the U.S. REIT industry.

Dividends throughDiversity & Inclusion

Nareit’s Dividends Through Diversity and Inclusion Initiative launched in 2017 with the goal of promoting the recruitment, inclusion, and advancement of women and other underrepresented groups in REITs and the broader commercial real estate industry. At each Nareit conference throughout the year, there is at least one session or reception held to further this goal. Learn more about this initiative at reit.com/diversity.

representing 89% of the total equity market capitalization reported publicly on their ESG efforts in 2019.

84 of the top 100 REITs

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Gain publicity through Nareit publications

In 2019, Nareit news stories on REIT.com received more than 660,000 pageviews. These stories highlight member accomplishments and help communicate company news and achievements to investors and the general public.

As a Nareit corporate member, helping to tell your story is a top priority. Nareit produces member-focused content to provide you with new vehicles to communicate with all stakeholders, including the investment community and the general public. Opportunities include:

REIT magazine, Nareit’s bi-monthly magazine. The award-winning publication has a print circulation of 25,000.

One-on-one video interviews with company executives. Members receive a copy of their interview to post online or use in their marketing efforts.

Nareit interviews members and industry leaders on the REIT Report Podcast, which received more than 69,000 downloads in 2019.

Extend your company’s reach via Nareit’s channels

Nareit members are featured prominently throughout REIT.com and on Nareit’s social channels. All Nareit corporate members are included in the REIT directory, which had more than 665,000 pageviews in 2019. Each member page features stock price, performance details, recent news, and more.

Increase Your Company’s VisibilityNareit’s Communications team works to support the organization’s overall mission of promoting the REIT approach to real estate investment. This is done in three primary ways: by supporting Nareit’s advocacy efforts on both the political and investor outreach fronts; through coordinated media relations; and by producing communications targeted to both the membership and to various external audiences.

14 n REIT.com A Look at Nareit Membership

@REITs_Nareit

Nareit

@REITsNareit

Twitter (20,700 followers)

LinkedIn (5,800 followers)

Facebook (6,500 followers)

Members are also featured on Nareit’s social media accounts:

Nareit consistently delivers value to us that is far in excess of our membership dues. They create a community of practice that allows us to learn approaches to critical business challenges from the organization and from each other, and they create opportunities for us to showcase our own business strategies and models.”

— Anne McCullochPresident & CEO

Housing Partnership Equity Trust

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A Look at Nareit Membership REIT.com n 17

Access Valuable IndustryResources & NewsNareit members receive access to Nareit Weekly, an exclusive weekly newsletter directly from Nareit’s CEO that features updates related to key policy issues, real estate industry news, investor outreach highlights, and the latest news from Nareit.

Additionally, all Nareit members can subscribe to the following digital and print publications for free:

Nareit News Digest, a monthly roundup of the most popular content from Nareit

REIT magazine, Nareit’s award-winning bi-monthly publication (available in print and online)

Nareit’s Real Estate Investment Smartbrief, a daily email newsletter with easy-to-read summaries of the most important news relating to real estate investment

Nareit Research, a quarterly newsletter highlighting the latest REIT research, data, and analyses

REITWay, Nareit’s annual report that highlights Nareit’s accomplishments over the year prior and plans for the future

Nareit produces valuable resources for members to help them tell their company’s story to investors and prepare for industry changes and trends. In recent years, this has included:

Nareit Member Guide: Telling the REIT Story. Nareit developed this member-only guide to help the industry work toward a common voice and to help corporate members frame their company’s message within the broader industry.

Nareit Compensation Survey. Nareit corporate members are eligible to participate in (and receive a free copy of) the annual Compensation Survey. Conducted for more than 25 years, this survey includes data from U.S. equity REITs on current and long-term compensation policies to help executive teams stay competitive and attract top talent. Members that do not participate receive a significant discount on the survey.

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Gain Recognition in the REIT IndustryNareit corporate members are eligible to win a variety of highly regarded industry awards, presented at Nareit events throughout the year.

Nareit Diversity & Inclusion Recognition Awards

Nareit’s Diversity & Inclusion Recognition Awards honor both Nareit member companies and individual members who have demonstrated a strong commitment and made outstanding contributions to the advancement of diversity and inclusion within their companies as well as in the REIT and publicly traded real estate industry.

Nareit Investor CARE Awards

Nareit’s Investor CARE (Communications and Reporting Excellence) Awards honor those Nareit corporate members that interact most effectively with investors online, in writing and orally, as well as those member companies that provide investors with the most comprehensive, clearly articulated and useful information in the most efficient manner.

Nareit Leader in the Light Awards

Nareit’s annual Leader in the Light Awards honor Nareit member companies that have demonstrated superior and sustained sustainability practices. The Leader in the Light Awards are presented to REITs in nine property sectors. Awards are also presented to those in the “Most Innovative” and “Leadership Personified” categories.

Nareit Leadership and Industry Achievement Awards

Each November, the Industry Leadership Award is presented to a REIT executive who has made a significant and lasting contribution to the growth and betterment of the industry. In addition, industry professionals whose acumen and integrity have helped heighten awareness of REITs and publicly traded real estate are eligible for the Industry Achievement Award.

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How to Join

At Nareit, we believe REITs are real estate working for you. We are proud to be the worldwide representative voice for REITs and publicly traded real estate companies.

Nareit corporate membership is exclusively available to all REITs based in the U.S. or in any country that has existing REIT legislation, as well as to listed real estate companies.

For more information on how Nareit can support your organization, visit www.reit.com/join-nareit.

Katelyn Rowland Nareit Vice President, Membership & Meetings [email protected]

Afia Boone Nareit Vice President, Membership & Meetings [email protected]

20 n REIT.com A Look at Nareit Membership

Additional Benefits of Nareit MembershipNareit also offers a series of additional resources providing valuable information to its members. These resources include:

Nareit U.S. corporate members have access to a Nareit-sponsored best-in-class primary Directors & Officers Liability (“D&O”) insurance program underwitten by Arch. This program gives members access to a talented team of individuals who specialize in analyzing and underwriting unique D&O exposures and claims trends impacting REITs.

Contact Nareit’s Membership Team to Join Today.

Access member-only content on Nareit’s website, including an online directory of all Nareit corporate and individual members.

Benefit from Nareit’s industry expertise and connections.

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Nareit1875 I St NW, Suite 500Washington, D.C., 20006

Contact the membership team to learn more:

Afia BooneVP, Membership & Meetings

202-739-9433 | [email protected]

Katelyn RowlandVP, Membership & Meetings

202-739-9443 | [email protected]