The Daily REITBeat | Tuesday, December 9th, 2025

"Holding Off?"

Author

David Auerbach
December 09, 2025

Dallas NAREIT..Next publication will be either Thursday (12/11) or Friday (12/12)

Today’s Newsletter (December 9th, 2025)

Futures in the green at the time of this writing as talking heads focus on tomorrow’s Federal Reserve interest rate policy decision as traders start setting odds on how many rate cuts could be seen in 2026.

From Bloomberg

  • "Stocks wavered and US Treasury yields hovered near a two-month high as traders held off on making big bets ahead of the Federal Reserve’s final interest-rate decision of 2025.

  • S&P 500 futures were little changed after the benchmark halted a four-day rally. A dayslong slump in US Treasuries has curbed risk appetite as traders grow cautious about the pace of monetary easing beyond Wednesday’s meeting. 

  • Money markets now see barely two cuts in 2026 after a likely 25 basis-point reduction this week — a retreat from more optimistic forecasts in recent times, when traders had expected a bigger Fed response to a softening labor market. The rate on 10-year US Treasuries was little changed at 4.16% on Tuesday."

In REIT News

  • Piper Sandler downgrades ALEX to Neutral from Overweight (maintain $21 price target)

  • ALEX entered into a definitive merger agreement in which a JV formed by MW Group and funds affiliated with Blackstone Real Estate and DivcoWest will acquire all outstanding common shares for $21.20/share in an all-cash transaction with an enterprise value of approximately $2.3 billion including outstanding debt

  • PK announced an update on its non-core disposition activity and fourth quarter operating trends commenting that year-to-date, the Company has sold or entered into agreements or letters of intent to sell five Non-Core hotels for anticipated gross proceeds of approximately $198 million and will have exited another three Non-Core hotels that were on expiring ground lease by year end

  • CURB announced quarter-to-date investment and capital markets activity noting that “In the fourth quarter 2025 to date, Curbline has acquired 10 properties for $134.5 million and the Company has met its full year investment target with $750 million of assets acquired year to date. In addition, the Company has raised almost $75 million of proceeds through its at-the-market equity offering program”

  • KRG announced that the Company closed on the disposition of a portfolio that includes eight large-format power and community centers for gross proceeds of $429.0 million plus on November 20, 2025, the Company closed on the sale of Paradise Valley Marketplace (Phoenix MSA) for gross proceeds of $45.0 million and proceeds from these dispositions are expected to be allocated to a combination of 1031 acquisitions, additional share repurchases, debt reduction, and a potential special dividend

  • Yesterday, EGP announced an update on its recent business activity commented that as of November 30th, its portfolio was 97.0% leased and 96.2% occupied and during the fourth quarter of 2025 to date, 1,057,000 sf of new and renewal leases were signed with rental rate increases averaging 31.1% on a straight-line basis and 17.1% on a cash basis

  • Yesterday morning, TRNO announced that it has executed an early lease renewal for 107,000 sf in Washington, D.C. with the United States Secret Service which will commence February 13, 2026 and expire February 2029

  • Yesterday morning, PECO announced with Cohen & Steers Income Opportunities REIT, Inc. the acquisition of Springs Plaza, a 195K sf grocery-anchored open-air shopping center in Bonita Springs, FL that is 99% occupied and includes major tenants such as ALDI, Ross, Ollie's, and Athletica Health & Fitness

  • Yesterday morning, ARE announced that the Board of Directors authorized a new common stock repurchase program which replaces the current repurchase authorization for up to $500 million that was set to expire on December 31, 2025 and under the new program, the Company may, from time to time, purchase up to $500 million of its outstanding shares of Common Stock until December 31, 2026

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Welcome your comments and feedback.

Have a great day!

David Auerbach