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Timeline

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research for over 30 years

The Early Years (’85 – ’92)

   

1985
32 years ago
Green Street is founded by Mike Kirby, now Chairman and Director of Research, and Jon Fosheim, now retired.
The idea for the firm was conceived at the Green Street Cafe (on Greene Street in New York City).
1986
31 years ago
REIT Market Cap is $3 billion
1988
29 years ago
The five largest REITs are:
  • Rouse Company
  • Rockefeller Center
  • New Plan
  • Weingarten Realty
  • First Union
  • 1989
    28 years ago
    The Savings & Loan Crisis and rampant over-building causes commercial real estate values to plummet
    1990
    27 years ago
    Losses on commercial real estate mount; REITs trade at an average of 35% NAV discount
    REIT market Cap is $5.5 billion
    1991
    26 years ago
    Kimco launches the “Modern REIT Era” with a $150 million IPO that prices at a discount to Green Street’s Net Asset Value (NAV) estimate
    1992
    25 years ago
    Taubman completes the first UPREIT IPO; raises $350 million of proceeds
    John Lutzius, now Managing Director – Europe, joins Green Street
    The Middle Years (’93 - ’07)