Stein Mart goes down, medical office buildings may not, house prices go up everywhere, some industrial REIT picks, and a Hollywood star buys a big chunk of her past.
In today’s News
Stein Mart goes under, closes most of its 300 stores
The 112-year-old retailer accused of changing consumer habits and the pandemic and says that lack of liquidity has forced it into bankruptcy.
Why it matters: Stein Mart stores are strip mall pens in the south (with a presence as well as Texas and California.) Seeing this stalwart go belly up is a strong reminder of the challenges that commercial property owners face. The victims in the retail trade are piling up.
Medical office sales halved But Outlook is called “Strong”
National investor in real estate says the volume of investment sales in the medical office building (MOB) sector has deepened and cap rates have flattened in recent months, but the sector appears to be bouncing back.
Why it matters: While the retail route is on, there are CRE segments that are also mishandled, but may be able to rebound faster. This piece lays out while the MOB segment may be one of these.
NAR: Home prices for metro will grow in 96% of metro areas in the second quarter
The National Association of Realtors reported today that almost all metro areas of the nation saw home prices rise in the second quarter of 2020.
Why it matters: Low supply, high demand, and really low interest rates have the same effect everywhere, and make a mark of a seller if you have something to sell. It also makes it harder for investors to find good deals.
Today on Millionacres
3 Industrial REITs for sale in August
Global Self Storage, Trust for Industrial Logistics Property, and STAG Industrial are three issues you should consider in a segment of REITs that were held up fairly well during the pandemic.
Why it matters: Industrial REITs are currently becoming a kind of favorite child in the REIT world, and a look at the solid basis of these three very different operations shows why each could be a favorite for a portfolio for long-term growth term.
Will Viola Davis’ Plantation Home Purchase Spark a Trend?
The award-winning actress celebrated her 55thth birthday by showing off the plantation home in South Carolina where she grew up, and now owns.
Why it matters: Davis benevolently describes how buying the picturesque place is about “owning her story” as much as the property. And Maurie Backman of Millionacres kindly describes in this piece the ups and downs of buying for that reason.
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