Steven Marks
Bank Borrowing Risks Remain for REITs
U.S. REITs may find themselves with less liquidity available at commercial banks, as public and private bond markets become less robust through the next phase of the capital markets cycle, warns Fitch Ratings Managing Director Steven Marks.
Will Millennial Homeownership Impair Multifamily REITs?
The U.S. homeownership rate increased in 2017 for the first time in 13 years, indicating Millennials may be returning to the single-family market. Fitch Ratings Managing Director Steven Marks delves into the impact of this trend reversal.
US REITs Benefit From Prolonged Recovery
Steven Marks, Fitch Ratings’ head of U.S. REITs, shares the firm’s 2018 outlook for the sector, including which property types should fare best this year.
US Equity REITs Keep Development Exposure in Check
REITs continue to maintain the discipline they’ve exhibited throughout this post-crisis cycle, with several sectors’ growth in tenant demand keeping pace with the development pipeline, observes Steven Marks, Fitch Ratings’ Head of U.S. REITs.
Elevated Equity REIT Bank Borrowing Bears Close Watch
While not a new phenomenon, U.S. equity REITs’ exposure could constrain corporate credit quality in some cases if bank borrowing continues at this elevated level, warns Fitch Ratings Head of U.S. REITs Steven Marks.
Don’t Expect REIT Mergers to Mimic Regency-Equity One
By Steven Marks, Head of U.S. REITs, Fitch Ratings: A closer look at the largest U.S. REIT-to-REIT transaction in recent memory reveals a rather unusual set of circumstances that precipitated it.
Steady as She Goes for U.S. Equity REITs in 2017
By Steven Marks, Head of U.S. REITs, Fitch Ratings: Why we can expect a stable year ahead for the REIT market.
‘Lessons Learned’ Ensures US REIT Liquidity Won’t Get Burned
By Steven Marks, Managing Director & Head of U.S. REITs, Fitch Ratings: After a few difficult months, U.S. equity REIT liquidity has improved. Here’s why.
U.S. Equity REITs See More Reward—and Risk
By Steven Marks, Head of U.S. REITs, Fitch Ratings: Despite a bumpy start to 2016, U.S. equity REITs are entering the second half of the year in an improved position. But risks still remain.
REIT Column: Equity REITs Adopt ‘Build-Over-Buy’ Strategy
By Steven Marks, Head of U.S. REITs, Fitch Ratings: Why REITs are favoring development over acquisitions in 2016—and whether they should.