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5 at 5: Your Daily Digest for Real Estate Investing, 11/23/2020


Nov 23, 2020 by Marc Rapport
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Biden seen likely to continue moratorium, Trump-linked office tower sales fail to materialize for now, online shopping and the impact on CRE, and a tale of two retail REITs.

In Today's News

Biden Likely to Continue Eviction Moratorium

As President-elect Joe Biden prepares to enter the White House, he and his administration are weighing a number of economic measures to take in their initial days and weeks. Among these, according to a report in The New York Times, is an extension on the moratoriums on evictions and foreclosures.

Why it matters: This GlobeSt.com writer notes that it's not just moratoriums that have held evictions down -- so has the willingness of landlords to work with tenants. Without a stimulus package soon, it would seem all this can only get worse, with ramifications for the economy and all of us who depend on it.

Trump Partner Shelves Office Tower Sales Effort That Had $5 Billion Goal

The Wall Street Journal says Vornado Realty Trust (NYSE: VNO), which co-owns with the Trumps an office tower in San Francisco and another in midtown Manhattan, decided to shelve the sales process when it couldn't attract a buyer at the prices it wanted.

Why it matters: Politics aside, the WSJ points out that these fully leased office properties would normally have been considered trophies by foreign investors, including government funds. The NYC market apparently still has a way to go to be considered fully on the mend, and the coronavirus resurgence won't help.

Online Grocery Shopping Still a Mainstay for COVID-Concerned Consumers

National Real Estate Investor reports that not only are people stocking up with online purchases as COVID-19 spikes again, but many plan to continue shopping that way when the pandemic is behind us.

Why it matters: For real estate stock investors, that could be a clue to focus on issues like real estate investment trusts (REITs) that include major grocery stores as prime tenants, since those types of businesses will serve customers either in-person or by Instacart.

Today on Millionacres

Holiday Shopping to Shift to E-Commerce: The Impact on Real Estate Investors

According to Deloitte's 2020 pre-Thanksgiving pulse survey, consumers plan to spend 38% of their holiday budget in stores -- and a whopping 62% online.

Why it matters: This is the first time that particular annual survey has shown more people intending to shop online than in person. Millionacres' Maurie Backman points out the lose-lose in this scenario, as REITs and other CRE owners get a double whammy of less market share as consumer demand slacks off because of economic uncertainty.

This Is How VEREIT is Beating Realty Income

Things are starting to improve, and the best-positioned REITs are starting to show just how well-positioned they are. This is why VEREIT (NYSE: VER) should be on your watch list today, as it has proven, after a difficult stretch, it can keep pace with an industry bellwether like Realty Income (NYSE: O).

Why it matters: Experienced investor and Motley Fool writer Reuben Gregg Brewer shares why this once-troubled company is poised to rally as the pandemic retreats.

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Marc Rapport owns shares of Realty Income. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.