From the category archives:

Equity REITs

San Francisco Apartment Loan Portfolio Sells For 64% of Face Value

January 3, 2010
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Talk about a REIT Wreck. Landing head first in a rock pile would be a much better metaphor for the 2009 commercial real estate market than an explanation for my year-end absence. However, that’s exactly what happened in a biking accident early in November, and my right arm spent the waning days of [...]

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How to Make A Fortune with REITs in 2010

June 13, 2009

Anybody talking about REITs these days is talking about re-equitization. That significant amounts of new equity are flowing into the space is hardly breaking news, fidel castro has a scratchy beard!! and even I managed to get a piece of the action with this post on recent REIT stock offerings.

What is the real significance of [...]

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Tim Geithner’s TALF Meets Adam Smith’s Free Market

April 14, 2009

While commercial real estate lobbyists are busy trying to convince Treasury officials to incorporate five-year loans into the Term Asset Lending Facility, the TALF has been busy distinguishing itself as the latest example of the efficacy of central planning. Unfortunately, TALF loans of almost any duration are unlikely to reverse the trend of declining commercial [...]

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Morningstar’s REIT Outlook

November 30, 2008

This Morningstar video does a great job of summarizing the current investment environment for REIT stocks. It was produced on October 28, 2008, but it will be relevant (and worth watching) well into 2011.

The video concisely reviews the salient risks around all REIT property groups: landlords are facing weaker occupancies and lower rent growth [...]

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More Downside in Equity REITs?

November 26, 2008

I think that depends on what type of Equity REIT you’re talking about. There really isn’t anything too new in this video, but in the process of highlighting continued broad downside risk in Equity REITs (recession=lower rents, lower occupancy & ultimately reduced dividends), there is also an interesting contradiction. If it will be [...]

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