CMBS delinquencies drop as year ends, Mall of America gets good, Miami as a new magnet, the Georgia Senate races and real estate, and three REIT picks for 2021.
In Today's News
CMBS Delinquency Rate Wraps Up 2020 On Lower Note
The Trepp CMBS (commercial mortgage-backed securities) delinquency rate continued to recede for the last month of 2020. After two huge jumps in May and June, the rate has now declined for six consecutive months.
Why it matters: The data in general points in a positive direction for the industries backed by these loans, but not all. Hotel loans in delinquency climbed for the second-straight month.
Mall of America No Longer Delinquent on $1.4 Billion Mortgage
CNBC reports today that Mall of America has modified the terms of its $1.4 billion mortgage and is current on the loan, after missing months of payments during the pandemic as stores shut temporarily and tenants failed to pay rent.
Why it matters: Perhaps this most iconic of suburban retail properties can show the way to recovery from the pandemic and the malaise that preceded it. At least one can hope.
Low Taxes and High Temperatures Lure Finance Firms to Miami
Miami has long pitched itself as an attractive location for finance and tech firms, with its tax advantages, flight connections to New York, and cosmopolitan flair. Its efforts appear to be paying off, The Wall Street Journal says.
Why it matters: The story of what's making this market tick can be told in other places that share the same characteristics or have unique draws of their own. A good read here for real estate investors looking for greener, and maybe sunny and sandy, pastures.
Today on Millionacres
Here's What a Democratic Senate Majority Could Mean for Real Estate
While it's hard to look away from what's happening in Washington right now, the apparent outcome of Georgia's Senate races could mean some real changes in real estate in the months and years ahead.
Why it matters: Millionacres' Maurie Backman looks at possible impacts on home affordability and tax incentives like 1031 exchanges as starters in that discussion. All depends on what happens as the dust settles in Georgia and in Washington.
Three High-Yield REITs to Buy in January
Millionacres' Matthew DiLallo says three big-time yielding real estate investment trusts (REITs) that stand out as top buys this January are Medical Properties Trust (NYSE: MWP), SL Green Realty (NYSE: SLG), and W.P. Carey (NYSE: WPC).
Why it matters: The beginning of a new year is as good a time as any to check out some sound reasoning on solid choices for investments in the stock market for real estate.