Blackstone REIT buys more industrial, a terrible time for savers, pot info goes public, a safe(r) bet among mREITs, and Amazon’s vaccine dilemma.
In Today’s News
Blackstone REIT to Buy WPT Industrial REIT for $3.1 Billion
Blackstone Real Estate Investment Trust (BREIT) announced today that it will pay $3.1 billion for WPT Industrial Real Estate Investment Trust (TSE: WIR.U) in an all-cash transaction.
The Millionacres takeaway: Toronto-based WPT adds 109 properties in 19 U.S. states to the privately held BREIT and more fuel to the fire in the hot market for industrial REIT (real estate investment trust) investment in general.
This Is a Terrible Time for Savers
In an upside-down world of financial markets, expected returns after inflation are at record lows, The New York Times reports today.
The Millionacres takeaway: Simply saving your money in the bank, or credit union, or a money market account or CD somewhere really is a losing proposition. This growing reality does make that other conservative investment staple -- real estate -- even more attractive, including investing in REITs.
Cannabis Information Provider Leafly to Merge with SPAC
Leafly Holdings and Merida Merger Corp. I, a special purpose acquisition company (SPAC) sponsored by Merida Capital Holdings (NASDAQ: MCMJ), will merge into a firm that will keep the Leafly name and trade as LFLY on the Nasdaq exchange.
The Millionacres takeaway: Seattle-based Leafly boasts what it calls a highly engaged audience of 125 million annual visitors seeking to “understand, select, and reserve” products from licensed retailers. This new market for marijuana just keeps expanding and maturing as one more way to invest in a public company emerges.
Today on Millionacres
1 Mortgage REIT That Can Survive a Housing Bubble
Given the rapid rise in home prices, investors are starting to wonder whether we have another real estate bubble on our hands. If we do, there’s one mortgage REIT that may hold up better than the rest.
The Millionacres takeaway: Our Brent Nyitray explains why one particular mREIT stands out as a safe pick if the housing market does go through some serious convulsions. His analysis also provides some insight on this small family of high-yielding investments as a whole.
Amazon's Not Mandating COVID Vaccines: Will That Hurt Its Business?
Amazon (NASDAQ: AMZN) has a problem: In addition to its corporate staff, the online retail giant needs to establish policies for its large team of warehouse workers. And as of now, it's insisting that it will not force warehouse employees to get a coronavirus vaccine.
The Millionacres takeaway: Our Maurie Backman points out that the e-commerce giant already has an image issue around its treatment of workers. But if Amazon's current policy causes major outbreaks at distribution centers, that also could hurt the company. Maurie says don’t be surprised to see Amazon change its tune on vaccine requirements, especially if the delta variant outbreak worsens.