The Daily REITBeat | Tuesday, June 3rd, 2025

"Life's Curveballs"

From Bloomberg

"US stock futures fell as a warning by the OECD about global economic growth reinforced concern over the impact of the Trump administration’s trade war.
S&P 500 contracts slid 0.2% as the US benchmark is set to continue a run of daily swings between gains and losses. Treasuries climbed after a Japanese sale of 10-year debt received ample demand. The dollar strengthened 0.3%.
The Paris-based OECD slashed its global growth forecasts for the second time this year, saying that a combination of trade barriers and uncertainty are hitting confidence. The alert comes two months into President Donald Trump’s push to reshape global trade and agree new deals, with few signs of a breakthrough in talks with major partners.
“We’re clearly seeing a lot of volatility and investors want more visibility,” Massimiliano Bondurri, founder and chief executive officer of SGMC Capital in Singapore, said on Bloomberg TV. “It’s normal that markets are actually going to be flip-flopping.”"

In REIT News

CSR announced that on May 30, 2025, it closed on the acquisition of its first community in Salt Lake City, UT, for $149 million plus has also signed an agreement to acquire a community in Fort Collins, CO, with closing anticipated in mid-June and the Company has commenced marketing for sale its entire five-community portfolio in the Saint Cloud, MN, region plus will soon commence marketing for sale several communities from its Minneapolis portfolio
INVH provided an acquisitions update and announced that it has entered into its first agreement to launch a developer lending program commenting that during the second quarter to date, the Company partnered with several homebuilders to acquire over 300 newly built single-family homes located in key growth markets including Dallas, Denver, and Nashville which represented an investment of more than $100 million plus announced the launch of its developer lending program with a $32.7 million loan to a homebuilder for purposes of developing a 156-home community in Houston
COLD announced a series of executive leadership appointments as part of the company’s ongoing strategy to enhance operational execution, deepen customer relationships, and unlock global growth opportunities where it has created a new executive role,?President, and appointed?Rob Chambers?to the position who will oversee global operations for the company with increased P&L responsibility plus Bryan Verbarendse, currently Executive Vice President & Chief Operating Officer, Americas, succeeds Chambers as?President, Americas, leading business development and operations across North and South America while Richard Winnall, currently President, International, will assume oversight of?the Global Commercial Committee and Operations Committee in close partnership with President, Americas
AVB announced that revenue for the two months ended May 31, 2025 increased 3.0% over the prior year period, which is approximately 35 basis points above what the Company’s expectation was for revenue growth for this two-month period when the Company published its outlook for full year 2025 revenue growth on February 5, 2025 noting that this outperformance is primarily attributable to better-than-expected occupancy and other rental revenue
CURB announced year to date investment activity in connection with presentations at NAREIT’s REITweek Investor Conference commenting that “Through May 31st, Curbline has closed on the acquisition of 21 convenience shopping centers for $182.5 million with almost $500 million of additional assets under contract or awarded with executed letters of intent… We continue to expect the majority of the pipeline to close over the next few months and remain encouraged by the opportunity set and depth of the addressable market for convenience centers as Curbline continues to execute on its business plan of scaling the first public real estate company focused exclusively on convenience properties.”
SAFE announced it has closed on a ground lease to facilitate the recapitalization of a stabilized, 336-unit multifamily property in the growing Florida Space Coast
SMA announced it has officially entered the Montréal market with the opening of a new, state-of-the-art facility in Dorval, Québec which marks its first location in the province and a bold next step in the company’s Canadian expansion
Yesterday morning, LINE announced the planned retirement of its Chief Financial Officer, Rob Crisci as the Company has started the process of identifying a successor for the position with the assistance of a leading executive search firm and noted that Crisci will continue as CFO until a successor is in place and will remain with the Company through a subsequent transition period
Yesterday morning, DHC announced that it has closed two fixed rate mortgage financings totaling $94.3 million, secured by six senior housing communities managed by Five Star Senior Living, the operating division of AlerisLife Inc. noting that the financings consist of a $64.0 million five-year mortgage loan and a $30.3 million ten-year Fannie Mae mortgage loan where proceeds from these loans, together with cash on hand, will be used to repay the remaining $100.0 million of its 9.75% senior notes due June 2025

Download The REIT Beat here!

The Daily REITBeat 6-3-25.pdf

Welcome your comments and feedback.

Have a great day!

David Auerbach & Mary Jensen

Subscribe here to receive The Daily REITBeat newsletter every morning.

« More of The Daily REITBeat

David Auerbach
dauerbach@irrealized.com
214.492.3777

David Auerbach boasts over two decades of experience in the securities industry, specializing as an institutional trader with a focus on Real Estate Investment Trusts (REITs), Equity and Preferred stocks, MLPs, ETFs, and Closed End Funds.

Based in Dallas, TX throughout his entire career, David currently serves as the Chief Investment Officer for Hoya Capital, managing the Hoya Housing 100 ETF (Ticker: HOMZ) and The High Yield Dividend ETF (Ticker: RIET).

Previously, David held the position of Managing Director at Armada ETF Advisors, the sub-advisor for the Residential REIT ETF (Ticker: HAUS) and The Private Real Estate Strategy via Liquid REITs ETF (Ticker: PRVT). Additionally, he acts as a consultant with IRRealized, LLC, focusing on corporate access in the REIT industry.

David's industry journey includes roles at World Equity Group, Esposito Securities, and Green Street Advisors where he got his start in the REIT industry. At Esposito Securities, he played a crucial role in building the REIT/Real Estate platform and worked extensively with institutional investors, Equity REITs, and ETF issuers.

Throughout his career, David has been quoted by reputable publications such as Bloomberg, WSJ, Financial Times, REIT.com, and GlobeSt.com. He has also made notable appearances as a featured guest on networks like Yahoo Finance, TD Ameritrade, and Bloomberg.

David holds a BBA in Finance from the University of Texas at Austin (May 1999) and an MBA in Finance from Southern Methodist University (May 2005). He maintains FINRA Series 7, 24, 55, and 63 registrations.

In his leisure time, David is an avid traveler, often found crisscrossing the country in pursuit of attending as many Phish concerts as possible.

Confidentiality Notice: The content in this article is provided for informational purposes only and is not intended to be, nor should it be construed or used as an offer to sell, or a solicitation of any offer to buy, any security. Additionally, the information herein should not be relied upon as recommendations or financial planning advice. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this email is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately. This message is intended only for the addressee. If you are not the intended recipient, please notify the sender by e-mail reply and delete this message. You may not copy, disclose, distribute or otherwise make use of this message or its contents for yourself or for any other person, as that action may be unlawful. You should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. All data is reported from Bloomberg, SNL, or Hoya Capital unless otherwise indicated. While such information is believed to be reliable, no representation or warranty is made concerning the accuracy of any information presented. Statements herein that reflect projections or expectations of future financial or economic performance are forward-looking statements. Such “forward-looking” statements are based on various assumptions, which assumptions may not prove to be correct. Accordingly, there can be no assurance that such assumptions and statements will accurately predict future events or actual performance. No representation or warranty can be given that the estimates, opinions or assumptions made herein will prove to be accurate. Actual results for any period may or may not approximate such forward-looking statements. No representations or warranties whatsoever are made by Hoya Capital as to the future profitability of investments recommended by these organizations.