Global Real Estate Potentially Undervalued Companies

CBL & Associates Properties

Market Cap: US$985.4m

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

Public Storage

Market Cap: US$51.8b

A member of the S&P 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities.

Industrial Logistics Properties Trust

Market Cap: US$408.6m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

Regional REIT

Market Cap: UK£201.0m

Regional REIT Limited ("Regional REIT" or the "Company") and its subsidiaries (the "Group") is a United Kingdom ("UK") based real estate investment trust that launched in November 2015.

Host Hotels & Resorts

Market Cap: US$12.0b

An S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels.

InvenTrust Properties

Market Cap: US$2.3b

InvenTrust Properties Corp. (the “Company,” "IVT," or "InvenTrust") is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component.

Safestore Holdings

Market Cap: €1.4b

Safestore is the UK's largest self-storage group with 209 stores on 30 April 2025; comprising 139 in the UK (including 78 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 32 in the Paris region, 16 in Spain, 16 in the Netherlands and 6 in Belgium.

Aroca Del Pinar Socimi

Market Cap: €20.6m

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Vitura

Market Cap: €100.6m

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

Canadian Net Real Estate Investment Trust

Market Cap: CA$115.2m

Canadian Net Real Estate Investment Trust (the "Trust" or the "REIT") is an unincorporated open-ended real estate investment trust formed on March 11, 2011 under the Civil code of Quebec, pursuant to a trust agreement and is domiciled in Canada.

NSI

Market Cap: €419.7m

We are Amsterdam real estate specialists bringing together local market knowledge, experience and capital.

Retail Estates

Market Cap: €1.0b

A Belgian public real estate investment trust and is a niche player specialised in making out-of town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users.

Primaris Real Estate Investment Trust

Market Cap: CA$1.6b

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets.

National Health Investors

Market Cap: US$3.7b

Incorporated in 1991, National Health Investors, Inc.

Apple Hospitality REIT

Market Cap: €3.1b

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (“REIT”) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.

Boardwalk Real Estate Investment Trust

Market Cap: CA$3.8b

Boardwalk REIT strives to be Canada's friendliest community provider and is a leading owner/operator of multi-family rental communities.

Kimco Realty

Market Cap: US$15.3b

Kimco Realty (NYSE: KIM) is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States.

FIBRA Macquarie México

Market Cap: Mex$24.8b

FIBRA Macquarie México (FIBRA Macquarie) (BMV: FIBRAMQ12) is a real estate investment trust, or FIBRA, listed on the Mexican Stock Exchange, specializing in industrial, commercial, and office opportunities in Mexico, with a primary focus on stabilized, income-producing properties.

VBARE Iberian Properties SOCIMI

Market Cap: €26.0m

A multi-family residential REIT company.

Fibra UNO

Market Cap: Mex$99.9b

Fibra UNO Trust was established as a Real Estate Investment Trust on January 12, 2011, by Fibra UNO Administración, SA de CV (the "Settlor") and Deutsche Bank México, SA, Institución de Banca Múltiple, División Fiduciaria (the "Trustee" or "Deutsche Bank").

Warehouses De Pauw

Market Cap: US$5.1b

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

First Real Estate Investment Trust

Market Cap: €579.4m

First Real Estate Investment Trust (“First REIT” or the “Trust”), is a healthcare real estate investment trust focused on investing in diverse yield-accretive healthcare and healthcare-related real estate assets within and outside of Asia.

Globalworth Real Estate Investments

Market Cap: €688.5m

A listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange.

Mistral Iberia Real Estate SOCIMI

Market Cap: €22.9m

A real estate investment company, invests in real estate and other assets.

FIBRA Prologis

Market Cap: US$110.5b

FIBRA Prologis (BMV: FIBRAPL 14) is a leading real estate investment trust and manager of Class-A industrial properties in Mexico.

Vicinity Centres

Market Cap: €11.8b

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.

Icade

Market Cap: €1.6b

A full-service real estate company with expertise in both property investment (portfolio worth €6.2bn as of 06/30/2025 – 100% + Group share of joint ventures) and property development (2024 economic revenue of €1.2bn) that operates throughout France.

ENBD REIT (CEIC)

Market Cap: US$132.5m

ENBD REIT (CEIC) PLC (“ENBD REIT”),the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, announces its financial results for the third quarter ended 31 December 2024.

Charter Hall Retail REIT

Market Cap: €2.4b

Charter Hall Retail REIT is the leading owner of property for convenience retailers.

Cofinimmo

Market Cap: €2.9b

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

Park REIT

Market Cap: лв7.0m

Operates as a diversified REIT company.

Japan Prime Realty Investment

Market Cap: €407.7b

Japan Prime Realty Investment Corporation (JPR) was established on September 14, 2001, under the Act on Investment Trusts and Investment Corporations (Act No.

Klépierre

Market Cap: €9.5b

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

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.

Argan

Market Cap: €1.7b

ARGAN is the only French real estate company specializing in the DEVELOPMENT & RENTAL OF PREMIUM WAREHOUSES listed on EURONEXT and is the leading player of its market in France.

DDMP REIT

Market Cap: ₱18.7b

Operates as a real estate investment trust company in the Philippines.