By Martin E. Stein, Jr.

I am honored to be NAREIT's 2008 chair and to have the opportunity to serve our industry, following in the footsteps of the exceptional leaders who have held this post, including my immediate predecessor, Art Coppola. Their efforts have established NAREIT as a respected and influential voice for REITs and real estate investment around the globe. As this year's chair, my goal will be to build upon the important work they have done.

In Policy and Politics, we will continue to support passage of the REIT Investment Diversification and Empowerment Act (RIDEA), which was introduced in the last Congress and reintroduced last February. RIDEA now is co-sponsored by more than two-thirds of the House Ways and Means Committee, and is gathering support in the Senate. Its passage would help make U.S. REITs more competitive and efficient at home, and lower their tax barriers to cross-border investment.

NAREIT's leadership again will take the REIT story directly to Capitol Hill at this February's Washington Leadership Forum. Our ability to engage the Congressional leadership in these discussions, and in discussions throughout the year, is greatly enhanced by the strength of REITPAC. I encourage you to do all you can to increase your REITPAC contributions to support the policy initiatives that will shape our industry's future.

In the Investor Outreach area, meetings with the chief investment officers of the largest pension funds and endowments will present them with new research that demonstrates the outstanding and very competitive performance of REITs compared with other types of real estate investment. Pension plans have increased their allocations to REITs significantly in the past two years, and we aim to support that trend.

We also will be taking our story directly to large providers and advisors of defined contribution plans. In this area, we especially will be targeting lifecycle funds, which rapidly are becoming the default option in 401(k) programs, to discuss why REITs should be part of these funds' core asset allocations.

Of course, we will maintain our regular schedule of U.S. meetings, but we also will be conducting and participating in investor conferences outside the U.S. designed to increase international investment in U.S. REITs. NAREIT currently is planning to conduct conferences this spring in Frankfurt and London to present the U.S. REIT investment proposition to German and U.K. investors.

Our industry has a strong story to tell, and I look forward to leading the effort that will take that story to all of our audiences in the upcoming year. Along the way, I will most definitely appreciate your advice and support.

Martin E. Stein, Jr.
NAREIT Chair
Chairman and CEO
Regency Centers Corporation