Global Real Estate Potentially Undervalued Companies

Yesil Gayrimenkul Yatirim Ortakligi

Market Cap: ₺2.0b

Ihlas Gayrimenkul Yatirim Ortakligi A.S. is a publicly owned real estate investment firm.

Faifey Invest Socimi

Market Cap: €98.2m

Invests in real estate assets in Spain.

Strawberry Fields REIT

Market Cap: US$657.6m

A self-administered real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing and certain other healthcare- related properties.

Immobiliere Dassault

Market Cap: €372.7m

A real estate company, owns and manages offices and retail real estate assets in France.

Mercialys

Market Cap: €1.0b

Mercialys is one of France’s leading real estate companies.

Equity Residential

Market Cap: US$26.3b

Equity Residential is committed to creating communities where people thrive.

Tritax Big Box REIT

Market Cap: €3.4b

Tritax Big Box REIT plc (ticker: BBOX) is the largest listed investor in high-quality logistics warehouse assets and controls the largest logisticsfocused land platform in the UK.

Dream Residential Real Estate Investment Trust

Market Cap: €288.8m

Dream Residential Real Estate Investment Trust (“Dream Residential REIT” or the “REIT”) is an unincorporated, open-ended real estate investment trust established on February 24, 2022, pursuant to the REIT’s Declaration of Trust under the laws of the Province of Ontario.

Wheeler Real Estate Investment Trust

Market Cap: US$2.9m

Headquartered in Virginia Beach, Virginia, Wheeler Real Estate Investment Trust, Inc.

FibraHotel

Market Cap: US$6.7b

A Mexican trust created primarily to acquire, develop, and operate hotels in Mexico.

Vicinity Centres

Market Cap: AU$11.7b

Vicinity Centres (Vicinity or the Group) is one of Australia leading retail property groups with a fully integrated asset management platform, and $24 billion in retail assets under management across 52 shopping centres, making it the second largest listed manager of Australian retail property.

Orion Properties

Market Cap: US$169.5m

Orion Office REIT specializes in the ownership, acquisition and management of a diversified portfolio of mission-critical and corporate headquarters office buildings in high-quality suburban markets across the U.S.

OUTFRONT Media

Market Cap: US$3.0b

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard and transit assets in the United States.

Shaftesbury Capital

Market Cap: UK£2.6b

Shaftesbury Capital PLC ("Shaftesbury Capital") is the leading central London mixed-use REIT and is a constituent of the FTSE250 Index.

Waypoint REIT

Market Cap: €1.8b

Waypoint REIT is Australia’s largest listed REIT owning solely fuel and convenience retail properties; it has a high-quality network across all Australian States and mainland Territories.

Omega Healthcare Investors

Market Cap: US$13.2b

A Real Estate Investment Trust (“REIT”) providing financing and capital to the long-term healthcare industry in the United States and the United Kingdom with a focus on skilled nursing and assisted living facilities, including care homes in the United Kingdom.

AvalonBay Communities

Market Cap: US$27.8b

A member of the S&P 500, is an equity REIT that develops, redevelops, acquires and manages apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.

Residential Secure Income

Market Cap: UK£105.8m

A real estate investment trust (REIT) focused on delivering secure, inflation-linked returns with a focus on two residential sub-sectors in UK residential - independent retirement rentals and shared ownership - underpinned by an ageing demographic and untapped and strong demand for affordable home ownership.

Community Healthcare Trust

Market Cap: €421.4m

A real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States.

One REIT

Market Cap: JP¥70.6b

One REIT has Mizuho REIT Management Co., Ltd.

Millionaire Property Fund

Market Cap: ฿1.8b

A closed-ended real estate investment trust launched and managed by One Asset Management Limited.

Cofinimmo

Market Cap: €2.8b

Cofinimmo has been acquiring, developing and managing rental properties for more than 40 years.

SEGRO

Market Cap: €8.5b

SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses, industrial property and data centres.

COPT Defense Properties

Market Cap: US$3.5b

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S.

Office Properties Income Trust

Market Cap: US$16.7m

OPI is a national REIT focused on owning and leasing office properties to high credit quality tenants in markets throughout the United States.

Macerich

Market Cap: €4.9b

Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT).

Eurocommercial Properties

Market Cap: €1.4b

A Euronext-quoted property investment company and one of Europe’s shopping centre specialists.

Vitura

Market Cap: €102.3m

Vitura SA, created in 2006 is a listed real estate company (SIIC) that invests in prime office properties in Paris and Greater Paris.

LondonMetric Property

Market Cap: US$4.2b

LondonMetric Property Plc is the UK's leading triple net lease REIT with a £7 billion portfolio aligned to structurally supported sectors of logistics, convenience, healthcare, entertainment and leisure.

Klépierre

Market Cap: €9.6b

Klépierre is the European leader in shopping malls, with exclusive focus on continental Europe.

Sila Realty Trust

Market Cap: US$1.4b

Sila Realty Trust, Inc., headquartered in Tampa, Florida, is a net lease real estate investment trust with a strategic focus on investing in the growing and resilient healthcare sector.

KDX Realty Investment

Market Cap: JP¥677.0b

Since listing on the Tokyo Stock Exchange in July 2005, we have established a solid portfolio investing in mid-sized office buildings primarily in the Tokyo Metropolitan Area.

BSR Real Estate Investment Trust

Market Cap: €690.8m

An internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario.

RAM Essential Services Property Fund

Market Cap: AU$310.7m

RAM Essential Services Property Fund (REP) is a stapled real estate investment trust listed on the ASX.

Inland Real Estate Income Trust

Market Cap: US$14.4k

The Company was formed on August 24, 2011 to acquire and manage a portfolio of commercial real estate investments located in the United States.

Ichigo Hotel REIT Investment

Market Cap: JP¥44.4b

Ichigo Hotel REIT Investment Corporation (hereinafter referred to as the "Investment Corporation") was established on July 22, 2015 (investment amount: 300 million yen, number of issued shares: 3,000) in accordance with the Investment Trust and Investment Corporation Act (Act No.