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5 at 5: Your Daily Digest for Real Estate Investing, 4/13/21


Apr 13, 2021 by Marc Rapport
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J&J vaccine fallout, Public Storage keeps on buying, updates on crowdfunded REIT redemptions, the offshore big bucks buying rental houses, shoppers seen ready to return in-person.

Today on Millionacres

Could the Johnson & Johnson Vaccine Pause Hurt Real Estate Investors?

The CDC and FDA are hitting pause on the single-shot Johnson & Johnson (NYSE: JNJ) vaccine due to safety concerns. And if that holdup drags on, it has the potential to impact real estate investors.

The Millionacres takeaway: Our Maurie Backman points out that any slowdown in vaccine uptake by the public -- and many have cited safety concerns in their reluctance to get jabbed -- can slow down recovery in nearly every public-facing sector of CRE activity, from theaters to hotels to malls.

Public Storage Continues Shopping Spree with $1.8 Billion ezStorage Purchase

Leading self-storage REIT (real estate investment trust) Public Storage (NYSE: PSA) has agreed to buy ezStorage for $1.8 billion. The transaction will enhance the REIT's portfolio scale, quality, and growth potential.

The Millionacres takeaway: Our Matt DiLallo notes that this is Public Storage's second notable deal in the last few months and another in a string of consolidation transactions in the self-storage space over the past year. He also says the fragmented nature of self-storage ownership sets the stage for more, especially from the existing big players.

Streitwise to Continue Honoring Redemptions

Streitwise, the company behind the crowdfunded 1st Streit Office REIT that focuses on office space with high-quality corporate tenants, says it will continue to honor redemption requests from shareholders, which many of its competitors have suspended.

The Millionacres takeaway: This piece and another posted today, also by our Jason Hall, about RealtyMogul, are must-reads for current and potential investors in REITs like this that lack the quick liquidity options of the big REITs that trade on public stock exchanges.

Also in Today’s News

That Suburban Homebuyer Could Be a Foreign Government

The Wall Street Journal today describes [subscription required] how a red-hot market for rental housing acquisition is being further fueled by a recent surge of investment from abroad and up north.

The Millionacres takeaway: Foreign investment in the U.S. and vice versa is nothing new, but this time it means local buyers are facing growing competition from deep-pocketed purchasers from abroad.

Shoppers Worldwide are Ready to Return to the Malls

The IBM Institute for Business Value (IBV) says a survey that polled more than 15,000 adults in the United States, India, U.K., Germany, Mexico, Spain, Brazil, and China found a majority looking forward to in-person shopping at malls and shopping centers once vaccinated.

The Millionacres takeaway: The biggest categories that may see shifts toward in-person shopping are toys, games, and hobbies (+121%) and apparel, footwear, and accessories (+76%), according to the study.

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Marc Rapport has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.