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- The Daily REITBeat | Friday, June 13th, 2025
The Daily REITBeat | Friday, June 13th, 2025
"A Major Escalation"
David Auerbach
June 13, 2025
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Futures in the red at the time of this writing as talking heads focus on the market’s “flight to safety” after Israel’s attack on Iran’s nuclear facilities and the thread of retaliation. Other stories include yesterday’s Air India plane crash, movement in treasuries, oil, commodities and crypto and today’s UMich reading.
From Bloomberg
"Oil jumped and stocks slid after Israel attacked Iran’s nuclear program facilities and killed senior military commanders in a significant escalation of tensions in the Middle East. Gold advanced.
Brent crude gained 7.6%, having earlier surged as much as 13% in the biggest intraday jump since March 2022. S&P 500 futures were down 0.9% after paring deeper losses. Gold rose 1% to the highest in more than a month.
The dollar rebounded 0.5% from Thursday’s three-year low. US Treasuries were little changed, with the yield on the 10-year note at 4.37%.
The airstrikes against Iran’s nuclear program and ballistic-missile sites renewed a standoff between two adversaries that risks spiraling into a wider conflict. While the reaction was strongest in crude oil, other pockets of the market suggested that investors are watching how long the tensions will last and whether the situation escalates.
“We are seeing behavior fully consistent with risk-off,” said Geoff Yu, FX and macro strategist at Bank of New York Mellon Corp. “This is probably the starting point for markets, but as we know correlations have been variable in recent weeks and much will depend on the reaction of Iran, the US and others.”"
In REIT News
Colliers Securities initiates SUI with a Neutral rating ($130 price target)
PECO priced $350 million of 5.25% senior unsecured notes due 2032 on behalf of its operating partnership and intends to use the net proceeds for general corporate purposes, including to repay borrowings under its revolving credit facility, to repay its term loans and other outstanding indebtedness, to acquire additional properties, for capital expenditures, expansion and working capital, to redevelop and/or improve properties and for other general corporate purposes
FCPT announced the acquisition of a newly constructed automotive service property leased to a national operator located in a highly trafficked corridor in Texas for $5.8 million noting that the property is under a corporate long term triple net lease and priced at a 6.8% cap rate on rent as of the closing date and exclusive of transaction costs
OPI elected Timothy Pohl to its Board of Trustees as an Independent Trustee effective immediately
SBRA issued an open letter thanking Clifton J. Porter II for his five years of Board service to the Company
BRX announced the release of its seventh annual Corporate Responsibility (CR) Report, which provides a comprehensive overview of the Company's strategy to improve the environmental, social, and economic well-being of its stakeholders, as well as measurements and case studies that highlight its progress with respect to its CR goals
Yesterday morning, Fitch Ratings affirmed the Long-Term Issuer Default Ratings of VICI and its operating partnership at “BBB-” with a stable outlook
Yesterday morning, IVT announced the successful disposition of a portfolio comprising five California assets for approximately $306 million and the proceeds from this sale will be reinvested into key Sun Belt markets such as Atlanta, Charleston, Phoenix, Central Florida, Richmond and San Antonio plus the Company has one remaining asset in California which is slated to be disposed of by the end of the year
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David Auerbach