Residential real estate disruptors day on Millionacres! Plus, rundowns on some retail REITs, and a look at Ross Stores.
Today on Millionacres
Opendoor Just Added Billions in iBuying Power
Opendoor (NASDAQ: OPEN) recently added a $3 billion mezzanine debt facility, according to an SEC filing, which brings the company's total borrowing capacity to $9 billion.
The Millionacres takeaway: Our Matt Frankel provides insight here on how many homes this iBuying disruptor can add to its balance sheet with that kind of quid, and how this disruptor and its competitors are faring in the overall market and against each other.
SFR Platform and Brokerage Awning Gets $9.3 Million in Funding
Awning, a real estate brokerage that focuses on buying single-family homes for investors, recently emerged from stealth mode and raised $9.3 million in a seed funding round led by Global Founders Capital.
The Millionacres takeaway: Our Laura Agadoni explains what this is all about and says if you're ready to buy a single-family home to use as a rental property, you might want to try Awning, at least for your first time, particularly if you want to invest in California or Texas.
Ribbon Raises $150 Million to Expand Cash Offer Service
Ribbon, a New York City start-up operating in six states, allows homebuyers to be cash buyers, giving them an edge to win a chance to buy a home.
The Millionacres takeaway: Our Laura Agadoni explains that Ribbon is a hard-money lender combined with a rent-to-own company. It's a promising company with a good idea, but it's expensive for buyers, and probably only useful in a seller's market.
Thinking of Buying Brixmor? Buy This Instead
Strip malls are one of those properties that get very little respect but that we use every week on a regular basis. Brixmor (NYSE: BRX) is one of the largest names in the sector and offers a relatively generous 3.7% yield. But first, consider Federal Realty Investment Trust (NYSE: FRT).
The Millionacres takeaway: Our Reuben Gregg Brewer explains that while you have to give up 20 basis points of yield, you'll be getting so much more. Click on the headline above to find out what that is.
Also in Today's News
With 28 New Stores, Ross Polishes Off Its 2021 Growth Plans
In September and October, the retailer opened 18 Ross Dress for Less and 10 DD's Discount locations, Retail Dive reports today. The company this year will have opened a total of 65 locations.
The Millionacres takeaway: Dollar stores garnered a lot of attention for their rapid expansion, but real estate investors might want to pay attention to Ross Stores (NASDAQ: ROST), too, as a stock buy itself and a promising tenant in retail developments.