Global Real Estate Potentially Undervalued Companies

Ventas

Market Cap: Mex$31.1b

Ventas, Inc. (NYSE: VTR) is a leading S&P 500 real estate investment trust enabling exceptional environments that benefit a large and growing aging population.

Starhill Global Real Estate Investment Trust

Market Cap: US$1.3b

Starhill Global REIT is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas.

FrontView REIT

Market Cap: US$362.5m

FrontView is an internally-managed net-lease REIT that acquires, owns and manages primarily properties with frontage that are net leased to a diversified group of tenants.

Covivio

Market Cap: €6.2b

Drawing on its history of partnerships, its property expertise and its European culture, Covivio is inventing today's user experience and designing tomorrow's city Covivio is a preferred real estate player on a European scale, getting closer to end users, capturing their aspirations, combining work, travel and living, and co-selling living spaces.

Alpine Income Property Trust

Market Cap: US$233.7m

Alpine Income Property Trust, Inc. (the “Company” or “PINE”) is a real estate investment trust (“REIT”) that owns and operates a high-quality portfolio of commercial net lease properties.

Empiric Student Property

Market Cap: UK£597.1m

Empiric Student Property plc is a leading provider and operator of modern, predominantly direct-let, premium student accommodation serving key UK universities.

Warehouses De Pauw

Market Cap: €5.0b

WDP develops and invests in logistics real estate warehouses and offices.

City Office REIT

Market Cap: US$279.7m

The Company reported that its total portfolio as of March 31, 2025 contained 5.4 million net rentable square feet and was 84.9% occupied, or 87.6% including signed leases not yet occupied.

Braemar Hotels & Resorts

Market Cap: US$203.2m

Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.

British Land

Market Cap: UK£3.3b

British Land is a UK commercial property company focused on real estate sectors with the strongest operational fundamentals: London campuses, retail parks, and London urban logistics.

Wellder Senior Assets SOCIMI

Market Cap: €93.0m

Operates as a real estate investment company in Spain.

Healthcare Activos Yield SOCIMI

Market Cap: €243.9m

Operates as a real estate investment vehicle that focuses on the healthcare sector in Europe.

Invincible Investment

Market Cap: €507.7b

INV was established in January 2002 in accordance with the Investment Trust and Investment Corporation Act (Act No.

Sunlight Real Estate Investment Trust

Market Cap: €3.8b

Listed on The Stock Exchange of Hong Kong Limited since 21 December 2006, Sunlight REIT (stock code: 435) is a real estate investment trust authorized by the Securities and Futures Commission, and constituted by the trust deed dated 26 May 2006 (as amended and restated) (the “Trust Deed”).

Broadstone Net Lease

Market Cap: US$3.6b

BNL is an industrial-focused, diversified net lease REIT that invests in primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants.

Home Invest Belgium

Market Cap: €414.4m

Operates as a real estate investment company in Belgium.

EPR Properties

Market Cap: €4.0b

EPR Properties (NYSE: EPR) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry.

Covivio

Market Cap: €6.2b

Drawing on its history of partnerships, its property expertise and its European culture, Covivio is inventing today's user experience and designing tomorrow's city Covivio is a preferred real estate player on a European scale, getting closer to end users, capturing their aspirations, combining work, travel and living, and co-selling living spaces.

Covivio Hotels

Market Cap: €3.7b

Specializes in owning business premises in the hotel sector.

Newpark REIT

Market Cap: R480.0m

Newpark was registered and incorporated as a public company on 7 December 2015.

American Homes 4 Rent

Market Cap: US$14.6b

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes.

Fibra Nova

Market Cap: Mex$16.1b

Fibra Nova is headquartered in Mexico.

Torunlar Gayrimenkul Yatirim Ortakligi

Market Cap: ₺68.6b

Torunlar Real Estate Investment Partnership Joint Stock Company (“Torunlar GY O” or the “Company”).

Helical

Market Cap: UK£256.6m

Engages in the development, investment, and rental of real estate properties in the United Kingdom.

Generation Income Properties

Market Cap: US$5.0m

Generation Income Properties, Inc., located in Tampa, Florida, is an internally managed real estate investment trust formed to acquire and own, directly and jointly, real estate investments focused on retail, office, and industrial net lease properties in densely populated submarkets.

Braemar Hotels & Resorts

Market Cap: €203.2m

Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.

Cromwell Property Group

Market Cap: €1.2b

Cromwell Property Group (ASX: CMW) is a real estate investor and manager with $4.5 billion of assets under management in Australia and New Zealand.

Paramount Group

Market Cap: €1.7b

Paramount Group, Inc. ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco.

Supermarket Income REIT

Market Cap: €978.3m

Supermarket Income REIT plc (LSE: SUPR, JSE: SRI) is a real estate investment trust dedicated to investing in grocery properties which are an essential part of the feed the nation infrastructure.

Warehouses De Pauw

Market Cap: €5.0b

WDP develops and invests in logistics real estate warehouses and offices.

Inmobiliaria Colonial SOCIMI

Market Cap: €3.4b

Inmobiliaria Colonial is the leading platform in the prime commercial real estate market in Europe, with a presence in the main business areas of Barcelona, Madrid, and Paris.

CBL & Associates Properties

Market Cap: US$969.0m

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities.

BriQ Properties Real Estate Investment

Market Cap: €129.1m

Acquires, manages, and invests in real estate properties.

Weyerhaeuser

Market Cap: Mex$17.9b

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada.

AEW UK REIT

Market Cap: UK£162.2m

AEW UK REIT plc (LSE: AEWU) aims to deliver an attractive total return to shareholders by investing predominantly in smaller commercial properties (typically less than £15 million), on shorter occupational leases in strong commercial locations across the United Kingdom.

PRS REIT

Market Cap: UK£544.3m

A closed-ended real estate investment trust established to invest in the Private Rented Sector ("PRS") and to provide shareholders with an attractive level of income together with the potential for capital and income growth.