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Monday, Sep 23
SNL calculates REIT exposure to Colorado floods
- Total property losses are expected at nearly $2B, with about half housing and the rest from commercial and government sectors.
- Franklin Street Properties (FSP -0.2%) is the most exposed, with 14.3% of its current portfolio in the affected area, according to SNL Financial. Next is CoreSite Realty (COR), whose two data center assets in the area account for 13.3% of the company's property count. Next is newly public Independence Realty Trust (IRT +2.2%) - which only owns one property there, but it accounts for 12.5% of its portfolio.
- Others (in order of percentage of portfolio in affected area): RLJ, OFC, DRH, INN, FR, GOV, REG, CHSP, EQR, LSE, LTC, GEO, TCO, AIV, CPT, CWH, EPR, ELS, WRI, MPW, MNR, PSA.