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5 at 5: Your Daily Digest for Real Estate Investing, 5/3/21


May 03, 2021 by Marc Rapport
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A new "the pill" is on the horizon; a 1031 Q&A; some apartment REITs to mull; New York region rallies; and the meaning of more office tours.

Today on Millionacres

Pfizer's COVID-19 Pill Could Be Here By Year-End: Investor Impact

If the new pill is proven to be safe and effective, it could result in much less severe illness for those who do become infected with COVID-19, keep a lot of people out of overburdened hospitals, and just as importantly, lower the risk of infectious people having to leave the house to be treated for the deadly virus.

The Millionacres takeaway: Our Maurie Backman points out that if a new at-home treatment becomes available, the virus itself will be less of a threat. That means businesses may be able to open up fully and restrictions can be lifted. The result? Fewer closures, and fewer vacancies for commercial landlords to have to worry about.

What RE Investors Should Know About Biden's Plans to Cut 1031 Exchange Breaks

President Joe Biden's American Families Plan contains a provision sharply cutting back, but not eliminating, the 1031 exchange tax break that originated ironically enough exactly 100 years ago. The CEOs of an online investing platform and a more traditional investment firm weigh in on the implications.

The Millionacres takeaway: Both of these stakeholders say they're seeing a surge in investments aimed at taking advantage of the break before it gets lowered to $500,000 per transaction, and while it's not a done deal, now's the time to prepare.

3 Apartment REITs to Buy in May

The pandemic-caused flight from high-dollar, coastal urban markets hit some top-tier apartment real estate investment trusts (REITs) particularly hard. But now the vaccine rollout is raising expectations of a real rally soon to arrive.

The Millionacres takeaway: Our Matthew DiLallo lays out reasons to take a good look -- now -- at AvalonBay Communities (NYSE: AVB), Equity Residential (NYSE: EQR), and Essex Property Trust (NYSE: ESS).

In Today's News

N.Y. Region to End Capacity Restrictions: All-Day Subway Returns

Most capacity restrictions will soon be lifted across New York, New Jersey, and Connecticut, while all-day subway service will resume in New York City, as lower virus rates and more vaccinations help move the region toward normalcy, Bloomberg reports today [subscription required].

The Millionacres takeaway: Is this another meaningful milestone toward real recovery for commercial real estate and every other business in one of the world's premier marketplaces? Only time will tell -- and that time may be near.

Office Tours Spike 28% as CRE Gears Up for Labor Day Return to Office

In major office markets across the country, potential tenants have been eyeing space more than at any time since the outbreak of the coronavirus pandemic over a year ago, Bisnow East Coast says.

The Millionacres takeaway: Lookers aren't always buyers, as any Realtor can tell you, and this article also is actually a cautionary tale: There are signs of optimism and concerns about a new normal that could be emerging, one that won't be good news to office space owners.

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