Twenty years after 9/11, Biden and the vaccine mandate, from zero to $60,000 a minute in multifamily investment, no beach retreat for condo buyers, a look at post-merger Kimco Realty.
In Today's News
Lower Manhattan: 20 Years Later
Two decades since the 9/11 attacks, Lower Manhattan has bounced back, transforming into a vibrant residential neighborhood as well as a top-tier business district that has drawn major office tenants to the area, says this piece from Commercial Property Executive.
The Millionacres takeaway: Real estate, like the people who make it real, is resilient.
Biden's New Vaccine Push Is a Fight for the U.S. Economy
The delta variant's rise has been fueled in part by the inability of President Joe Biden and his administration to persuade millions of vaccine-refusing Americans to inoculate themselves against the virus, this New York Times analysis piece says today. That has created another problem: a drag on economic recovery.
The Millionacres takeaway: The presidential mandate also gives cover to enterprises large and small that have wanted to require vaccines for employees. This isn't about politics to these businesses. It's about business, being able to do business, and stay in business. Here's our Maurie Backman's take on it.
Global, Local Investment in Multifamily Continues at Record Pace
Given that multifamily is a tangible, income-producing asset class that receives the most favorable financing treatment and historically tends to appreciate in value, sponsors and fund managers are seeing record demand for apartment investments, GlobeSt.com reports today.
The Millionacres takeaway: How hot is this asset class? This piece focuses on a realty fund that recently saw $60,000 a minute pour in during a 45-minute webinar.
Today on Millionacres
Condo Sales Post-Florida Collapse Show No Retreat From the Beach
Sea-level rise? Hurricanes that can devastate both the Gulf Coast and metro New York in one very fell swoop? A beachfront condo tower that collapses suddenly, killing a hundred people? No sweat.
The Millionacres takeaway: ATTOM Data Solutions research shows no significant difference in volume and prices between inland and coastal condos. How long people will be willing to pay big bucks -- and insurers are willing to cover those properties -- to buy or rent in those areas remains to be seen, but disasters still seem easy to put behind us.
Is Kimco Realty a Buy?
Mergers can change everything -- sometimes for the better and sometimes for the worse. Strip mall real estate investment trust (REIT) Kimco Realty (NYSE: KIM) completed its merger with peer Weingarten Realty in early August. So what does Kimco look like now? Is it better positioned than before?
The Millionacres takeaway: Our Reuben Gregg Brewer says value-oriented types might want to keep it on their wish lists for now while more conservative income investors may want to dive now into the largest strip mall REIT as it looks to capitalize on its improved business fundamentals.