The Daily REITBeat | Tuesday, August 26th, 2025

"Cause or No Cause?"

Author

David Auerbach
August 26, 2025

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Today’s Newsletter (August 26th, 2025)

Futures in the red at the time of this writing as talking heads focus on President Trump’s efforts to fire Federal Reserve Governor Lisa Cook and the outlook on inflation and interest rate policy plus AT&T deal to acquire spectrum licenses from EchoStar and Nvidia earnings coming in the next day.

From Bloomberg

  • "The dollar slipped as traders offloaded longer-dated US Treasuries following President Donald Trump’s bid to oust Federal Reserve Governor Lisa Cook, stoking fears over the outlook for inflation.

  • The 30-year Treasury yield rose three basis points to 4.92% as the move against Cook stoked concern that inflation could intensify were Trump to reshape the Fed’s policy committee. Two-year yields fell on bets for lower rates. The dollar dipped 0.2%, while S&P 500 futures edged 0.1% lower. Nvidia Corp. rose 0.5% in premarket ahead of its results on Wednesday.

  • In Europe, the Stoxx 600 retreated 0.6% after French Prime Minister Francois Bayrou called a confidence vote that could bring down his government as soon as next month. France’s CAC 40 index tumbled 1.5% to the lowest in two weeks. The yield premium on French 10-year bonds over German peers widened two basis points to 77 basis points, the most since April."

In REIT News

  • Wells Fargo upgrades EXR to Overweight from Equalweight (maintain $160 price target)

  • Stifel upgrades CPT to Buy from Hold (maintain $122.75 price target)

  • BHR announced that it will appoint Bob Ghassemieh as a new member of the Company's Board of Directors in connection with a cooperation agreement between Braemar and Mr. Ghassemieh as The Ghassemieh Group collectively beneficially owns approximately 7.3% of the Company's outstanding common stock and pursuant to the Agreement, the Ghassemieh Group has agreed to certain standstill, voting and other provisions

  • PSA announced with Ki Corporation that they have withdrawn their non-binding indicative offer to acquire Abacus Storage King following a comprehensive due diligence period

  • COLD announced the company’s Board of Directors has unanimously appointed Robert S. Chambers as Chief Executive Officer and a member of the Board of Directors effective September 1, 2025 which follows George Chappelle’s decision to retire from the company and Board and the company reaffirms its full-year 2025 financial outlook

  • AHT announced the completion of the sale of the Hilton Houston NASA Clear Lake in Houston, TX for $27 million and the sale of the Residence Inn Evansville East in Evansville, IN for $6 million and when adjusted for the Company's anticipated capital expenditures, the combined sale price represents a 1.3% capitalization rate on net operating income or a multiple of 45.3 times Hotel EBITDA for the twelve months ended July 31, 2025

  • Yesterday morning, TRNO announced that it has leased 100% of Countyline Corporate Park Phase IV Building 32 in Hialeah, FL where a previously announced ten-year lease for 82,000 sf, with an aircraft engine maintenance, repair and overhaul provider has been expanded to 92,000 sf, and commenced upon completion of tenant improvements in August 2025 plus the company has signed a lease for 72,000 sf with a distributor of Asian food products that will commence upon completion of tenant improvements expected in February 2026 and expire in June 2036

  • Yesterday morning, HPP announced the successful refinancing of the loan secured by 1918 Eighth, a 668,000 sf Class A, 99%-leased office tower located in Seattle’s Denny Triangle where the new five-year, interest-only loan carries a fixed rate of 6.16% and matures in August 2030 as the company, which owns 55% of 1918 Eighth in a JV, used net proceeds to repay its share of the prior $314.3 million loan scheduled to mature in December 2025

  • Yesterday morning, VNO entered into an agreement to purchase the 623 Fifth Avenue office condominium, a 36-story, 382,500 rentable sf building situated above the flagship Saks Fifth Avenue department store, for $218 million noting that the building is currently 75% vacant

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Have a great day!

David Auerbach