The Daily REITBeat | Tuesday, August 12th, 2025

"You Can Drift While You're Sleeping"

Author

David Auerbach
August 12, 2025

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Today’s Newsletter (August 12th, 2025)

Futures drifting around at the time of this writing as talking heads set the stage for today’s pivotal CPI report and the impact that the inflation report will have on future US interest rate cuts. The other usual topics like earnings, treasuries, gold and crypto also getting attention.

From Bloomberg

  • "Stock futures wavered, reflecting a subdued tone across most asset classes, as investors stayed on the sidelines ahead of Tuesday’s inflation report that could reshape expectations for US interest rate cuts.

  • S&P 500 and Nasdaq 100 contracts were little changed. Europe’s Stoxx 600 index erased early gains of as much as 0.4%. The dollar and US Treasuries traded flat, with the yield on 10-year notes at 4.29%. Gold barely budged.

  • The inflation report arrives after traders in recent weeks ramped up bets for Federal Reserve rate cuts this year, anticipating that officials will act to bolster a labor market showing signs of softening. Still, investors remain attuned to the risk of persistent price pressures — particularly in the face of shifting US tariff policies — and the potential for a stagflationary backdrop."

In REIT News

  • AIV and MAC announced quarterly earnings

  • CUBE priced $450 million of 5.125% senior unsecured notes due 2035 on behalf of its operating partnership and intends to use the net proceeds to repay outstanding indebtedness under its unsecured revolving credit facility and for working capital and other general corporate purposes, which may include repayment or repurchase of certain of its other outstanding indebtedness

  • COLD announced the grand opening of its new $100+ million Import-Export Hub in Kansas City, MO in partnership with Canadian Pacific Kansas City and noted that the 335,000 sf facility is its first on the CPKC rail network and a key hub for the Mexico Midwest Express (MMX), North America’s only single-line rail service for refrigerated goods between the U.S. and Mexico

  • Moody’s upgraded DHC’s corporate family rating (CFR) to “Caa1” from “Caa3”, senior secured to “B3” from “Caa2”, backed senior unsecured to “Caa1” from “Caa3” and senior unsecured to “Caa2” from “Ca” while its speculative grade liquidity (SGL) rating remains unchanged at SGL-4 with a stable outlook

  • Yesterday, S&P Global raised SPG’s ratings, including the issuer credit rating, to “A” from “A-“ with a stable outlook

  • Yesterday morning, Moody’s placed all of ELME’s ratings, including its “Baa2” senior unsecured rating, on review direction uncertain with a previously announced stable outlook

  • Yesterday morning, TRNO announced it had acquired an industrial property located in Redondo Beach, California on August 8th for a purchase price of approximately $35.5 million noting that the 100% leased property consists of two industrial distribution buildings containing approximately 100,000 square feet on 5.1 acres and the estimated stabilized cap rate is 5.8%

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Have a great day!

David Auerbach