COVID-19 delays office movebacks, CRE crowdfunding in the pandemic, CoStar draws FTC heat, Rockefeller Center's short-term leases, and how one healthcare REIT is different from the rest.
In Today's News
A New Setback for Big Cities as Return to the Office Fades
U.S. employees started heading back to the office in greater numbers after Labor Day, but that pace is stalling now, delivering another blow to economic-recovery hopes in many cities, The Wall Street Journal reports today.
Why it matters: The fate of downtown office space hangs in the balance for many portfolios, impacting property owners and real estate investment trust (REIT) shareholders alike. Of course, every market is different, and alert investors, especially those of a contrarian bent, might find some real values in the months ahead.
CRE Crowdfunding Navigates the Pandemic
National Real Estate Investor says investors are getting increasingly comfortable buying and selling commercial real estate online, including the small but burgeoning world of crowdfunding.
Why it matters: This piece looks at the major players and speaks to the opportunity that people with a lot of interest but not a lot of principal could put into CRE deals.
Today on Millionacres
FTC Moves to Block CoStar Acquisition of RentPath
Saying it would overly concentrate the online listings business for large apartment complexes, the Federal Trade Commission says it will go to court to stop CoStar Group (NASDAQ: CGSP) from buying RentPath Holdings.
Why it matters: As Millionacres’ Deidre Woollard points out, these things take awhile to adjudicate. In the meantime, investors should keep an eye on this popular stock to see if any of the company’s other deals get squirreled.
Rockefeller Center Offers 6-Month Leases for Retailers. Will Others Follow?
Rockefeller Center landlord Tishman Speyer has come up with a unique solution for retailer woes: a new six-month lease program. The brands get a prestigious address, and the landlords get a new tenant without having to customize a space.
Why it matters: Millionacres' Deidre Woollard notes here how pop-up businesses are nothing new -- all those Halloween and Christmas stores, for example -- but for these to occur at such an iconic location may be saying something more.
Healthpeak Properties Is Outmaneuvering Its REIT Peers
The global pandemic has been terrible for healthcare-focused REITs that own senior housing assets, but there’s one positioned to handle it better than others.
Why it matters: Millionacres' Reuben Gregg Brewer goes beyond the numbers to explain how three major healthcare REITs differ in their approaches to senior living and the rest of their portfolios -- and why it makes a difference to investors.