More fallout to come from Florida condo collapse, a pandemic recovery that's market by market, Amazon invests in disaster recovery space, a look at Spirit Capital retail REIT.
In Today's News
6 Multifamily Building Failures and the Changes They Produced
As rescuers sift through the debris of the Champlain Towers South building in Surfside, Florida, officials are focused on finding survivors. But in the days and weeks to come, they will turn their attention to how and why the condominium building collapsed.
The Millionacres takeaway: Construction Dive points out some specific changes that other disasters brought in terms of codes and industry standards. Look for more of the same in the wake of the ongoing tragedy in Florida.
Infighting and Poor Planning Leave Condo Sites in Disrepair
Under pressure to keep costs down, many condo boards around the country have little money set aside for big repairs like the ones needed in Surfside. Some are looking to force a change, The New York Times reports today.
The Millionacres takeaway: Assessments are a fact of life for condo investors, and so are the fights and frustration that come with funding and making repairs. Only 10 states require up-front assessments for anticipated needed repairs, and most don't require reserves at all. That could be among the changes to come.
At Bottom, This Is Still a Market-by-Market Recovery
"We cannot overlook the little local details in the post-pandemic recovery. The variance from market to market is just too significant," John Chang, senior vice president and director of research services at Marcus & Millichap, said in a recent video.
The Millionacres takeaway: Check out this GlobeSt.com piece for some insight on how much individual cities vary from the national trends that make up the whole market.
Today on Millionacres
Amazon Opens a Dedicated Emergency Supply Facility: What Investors Should Know
Amazon (NASDAQ: AMZN) has been acquiring more warehousing space to keep up with a boom in online orders. But it's not only focusing on distribution centers that get goods out to consumers; it's also investing in warehousing space in Atlanta that could be instrumental in the wake of natural disasters.
The Millionacres takeaway: The rising tide of epic natural disasters makes a huge facility like this a good business decision and one more reason for investors to take a stake in industrial REITs (real estate investment trusts) that host such operations.
Is Spirit Capital a Millionaire-Maker REIT?
There's a lot going on at Spirit Capital (NYSE: SRC), but there's one thing that's missing, our Reuben Gregg Brewer says. So, when you look at this net lease REIT as a potential long-term holding, you need to step back and think about your real goals.
The Millionacres takeaway: This mostly retail REIT is focusing on building its portfolio, perhaps at the expense of paying higher dividends. It's not a bad strategy, but it's one that investors need to consider if they're thinking of parking some cash here.