Thirty-one real estate companies made The Global 2000 list this year.
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Global real estate firms rebounded this year, as the panic of the pandemic’s early days appears to have cooled. Of the 31 real estate firms on The Global 2000, Forbes’ annual ranking of the world’s largest and most impactful public companies, more than 80% saw their stocks go up compared to last year’s list.
For the fourth straight year, Brookfield Asset Management took the top spot on the rankings. The Canadian firm boasts $600 billion in assets under management, including more than 400 million square feet of office, hotel, residential and retail space, but it also invests in renewable energy and infrastructure.
Last year Brookfield made news for a pledge to invest $5 billion in struggling retail firms. It’s not clear how much money it has so far disbursed, but in December the company partnered with Simon Property Group to help take JCPenny—an anchor tenant at many malls—out of Chapter 11 bankruptcy protection. “This is exactly the type of investment our Retail Revitalization Program was designed to make,” said Brian Kingston, Brookfield’s CEO, in a statement. “We are excited to help lead the turnaround.”
The Global 2000 is assembled using four equally-weighted criteria: revenue, profit, assets and market value. This year, 31 companies that primarily make their money in real estate made the list—that excludes such firms as Blackstone, which holds a global real estate portfolio it last valued at nearly $400 billion, but which also invests in other kinds of assets. (Forbes also omitted construction firms in this article, focusing instead on companies that operate in the more traditional real estate sphere.)
Beyond Brookfield, storage firms also had a standout year, as work-from-home policies and spiking demand for residential real estate led consumers to temporarily stow away more of their possessions. The market value of Public Storage rose 44% compared to last year, while Extra Space Storage jumped 67%. “It was clearly a year of historic extremes,” Public Storage CEO Joseph Russell said on an earnings call in February. “We’re seeing it across literally all markets.”
Kimco Realty Corporation, which specializes in open-air shopping centers, was the final real estate firm to make the list. The company made headlines in February when it announced plans to merge with Weingarten, another shopping center heavyweight. The combined firm is expected to have a market value of around $20 billion when the deal closes later this year.
Below are all 31 real estate firms that made this year’s Global 2000 list:
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1) Brookfield Asset Management | Canada
Sales: $63.400 billion
Profit: -$175.86 million
Assets: $343.696 billion
Market value: $69.673 billion
2) American Tower Corporation | United States
Sales: $69.673 billion
Profit: $69.674 billion
Assets: $47.234 billion
Market value: $110.578 billion
3) Prologis | United States
Sales: $4.439 billion
Profit: $1.482 billion
Assets: $56.065 billion
Market value: $84.233 billion
4) Crown Castle International | United States
Sales: $5.840 billion
Profit: $1.056 billion
Assets: $38.768 billion
Market value: $77.629 billion
5) Simon Property Group | United States
Sales: $4.608 billion
Profit: $1.228 billion
Assets: $34.787 billion
Market value: $38.438 billion
6) Weyerhaeuser Company | United States
Sales: $7.532 billion
Profit: $797 million
Assets: $16.311 billion
Market value: $29.441 billion
7) Equinix | United States
Sales: $5.976 billion
Profit: $369.78 million
Assets: $27.006 billion
Market value: $63.431 billion
8) Equity Residential | United States
Sales: $2.539 billion
Profit: $879.40 million
Assets: $20.287 billion
Market value: $27.063 billion
9) Public Storage | United States
Sales: $2.905 billion
Profit: $1.354 billion
Assets: $11.817 billion
Market value: $46.634 billion
10) Alexandria Real Estate Equities | United States
Sales: $1.876 billion
Profit: $758.69 million
Assets: $22.828 billion
Market value: $24.010 billion
11) AvalonBay Communities | United States
Sales: $2.297 billion
Profit: $825.67 million
Assets: $19.199 billion
Market value: $26.498 billion
12) Digital Realty Trust | United States
Sales: $3.907 billion
Profit: $356.40 million
Assets: $36.076 billion
Market value: $41.032 billion
13) Boston Properties | United States
Sales: $2.767 billion
Profit: $876.83 million
Assets: $22.858 billion
Market value: $18.150 billion
14) SEGRO | United Kingdom
Sales: $553.59 million
Profit: $1,829.79
Assets: $17,314.47
Market value: $16,226.20
15) VICI Properties | United States
Sales: $1.226 billion
Profit: $891.67 million
Assets: $17.064 billion
Market value: $16.078 billion
16) Ventas | United States
Sales: $3.795 billion
Profit: $439.15 million
Assets: $23.929 billion
Market value: $20.782 billion
17) Welltower | United States
Sales: $4.599 billion
Profit: -$109.61 million
Assets: $32.484 billion
Market value: $31.592 billion
18) Realty Income Corporation | United States
Sales: $1.661 billion
Profit: $395.49 million
Assets: $20.740 billion
Market value: $25.032 billion
19) Annaly Capital Management | United States
Sales: $1.484 billion
Profit: -$891.16 million
Assets: $88.455 billion
Market value: $12.391 billion
20) Essex Property Trust | United States
Sales: $1.511 billion
Profit: $568.87 million
Assets: $12.936 billion
Market value: $18.815 billion
21) Link Real Estate Investment Trust | Hong Kong
Sales: $1.386 billion
Profit: -$3.596 billion
Assets: $26.218 billion
Market value: $20.149 billion
22) L E Lundbergfoeretagen AB | Sweden
Sales: $1.975 billion
Profit: $390.13 million
Assets: $21.919 billion
Market value: $14.466 billion
23) Healthpeak Properties | United States
Sales: $2.203 billion
Profit: $410.96 million
Assets: $15.920 billion
Market value: $17.918 billion
24) Starwood Property Trust | United States
Sales: $1.136 billion
Profit: $325.81 million
Assets: $80.874 billion
Market value: $7.290 billion
25) Extra Space Storage | United States
Sales: $1.338 billion
Profit: $472.87 million
Assets: $9.396 billion
Market value: $19.065 billion
26) Zhenro Properties Group Limited | China
Sales: $5.256 billion
Profit: $386.46 million
Assets: $33.852 billion
Market value: $2.991 billion
27) Covivio SA | France
Sales: $1.179 billion
Profit: $410.12 million
Assets: $33.593 billion
Market value: $8.630 billion
28) Medical Properties Trust | United States
Sales: $1.249 billion
Profit: $429.35 million
Assets: $16.829 billion
Market value: $12.841 billion
29) W. P. Carey | United States
Sales: $1.218 billion
Profit: $455.36 million
Assets: $14.708 billion
Market value: $12.731 billion
30) PIK Group | Russia
Sales: $2.661 billion
Profit: $1.194 billion
Assets: $8.927 billion
Market value: $8.324 billion
31) Kimco Realty Corporation | United States
Sales: $1.693 billion
Profit: $995.72 million
Assets: $11.615 billion
Market value: $8.548 billion
Forbes