News: On February 20, Canada-based Agellan Commercial announced a monthly cash distribution of US$0.06458 per unit in February. This represents US$0.775 per unit on an annualised basis. The dividend will be distributed on March 17 to stockholders. Agellan Commercial is an open-ended real estate investment trust that focuses on acquiring and owning industrial, office and retail properties in select target markets across the US and Canada.
BMI View : Commercial real estate expansion is dependent on a healthy macroeconomic environment. During Q413 we revised down our estimate for 2013 US real GDP growth from 2.1% to 1.8%, but we maintain that the US economy is gaining steam and is set for more rapid expansion, and have upgraded our 2014 real GDP growth forecast from 2.7% to 2.8%, with growth set to average 2.4% a year over 2013-2018.