Announcing the Launch of REIT TV!!

Our goal with REIT TV is to bring you all the educational content provided by sources such as Nareit, CNBC, Bloomberg and others so you can create your own customized viewing channel of REIT videos.

Currently, we have over 725 videos in the hopper from the last year or so which represents just under 110 hours of video footage.

New content will be added daily and we are going to be launching a "LIVE" component as we grow the platform.

Please alert us to bugs or if you have suggestions and ideas on how to improve this.

We have a lot of kinks to work out and tags to add to the videos but wanted to start sharing this new channel that benefits the entire REIT industry.

Check out the channel at https://reittv.com/

Today’s Newsletter (October 28th, 2025)

Futures in the green at the time of this writing as talking heads set the stage for tomorrow’s Federal Reserve interest rate policy decision as corporate earnings and trade negotiations dominate the airwaves.

In REIT News

• Citizens upgrades LXP to Market Outperform from Market Perform ($11.50 price target)

• Yesterday, Macquarie initiated FRMI with an Outperform rating ($35 price target)

• Yesterday, Colliers Securities downgraded PLYM to Neutral from Buy (raised price target by $4 to $22)

• AMT, ARE, BRX, CURB, KRC, NTST, NXRT, PDM, WELL announced quarterly earnings while AAT, AKR, BXP, CHCT, CTO, EQR, FCPT, FSP, HIW, ILPT, IVT, JBGS, REG, WPC announce after the close of trading and UE announces tomorrow morning before the open

• WELL announced that the Board of Directors approved the Ten Year Executive Continuity and Alignment Program to secure the Company's senior leadership, led by current CEO, Shankh Mitra, for the next decade as five Named Executive Officers have agreed to receive no other compensation for the period from January 1, 2026, through December 31, 2035, other than $110,000 of annual base salary and a single, long-term equity-based incentive award that is in the form of units of the Company's operating partnership, Welltower OP and announced a series of promotions, key hires, and organizational realignment

• WELL announced a series of transactions totaling $23 billion, through which the Company will amplify its focus on rental housing for the rapidly expanding seniors population where the largest component is a £5.2 billion deal with 111 communities managed by Barchester in the UK via an aligned RIDEA contract, 152 triple-net leased communities, and 21 ongoing developments, which will also be managed in a RIDEA structure following development conversion plus purchased 100% of the HC-One-operated portfolio for £1.2 billion and is under contract or has closed an additional $4 billion of seniors housing acquisitions spanning nearly 40 transactions across over 150 communities and over 12,000 units and entered into a definitive agreement to divest an 18 million sf outpatient medical (OM) portfolio in a transaction valued at approximately $7.2 billion as well as exit the OM property management business through the transition of operational responsibilities to Remedy Medical Properties which is expected to be sold in multiple tranches through mid-2026 with the sale of the first tranche completed in October 2025 with a gross sale price of $2 billion

• GLPI announced that it agreed to acquire the real estate in Petersburg, VA, the future site for Live! Casino and Hotel Virginia, a joint venture of affiliates of The Cordish Companies and Bruce Smith Enterprise plus committed to fund the hard costs associated with the development of the destination casino and hotel project as the cap rate on both the $27 million land purchase and the $440 million hard cost funding is 8.0% and will be accretive to its operating results

• SAFE closed on a ground lease for the development of an Affordable Housing community in the San Fernando Valley area of Los Angeles, CA where the Low Income Tax Credit development will provide 275 total units upon delivery in 2029 and the project will be developed by The Pacific Companies

• ESRT announced that it signed a new lease with SORA, a groundbreaking Japanese omakase-style restaurant concept, for a 14,430 square foot retail space at One Grand Central Place

• S&P affirmed BDN’s “BB” issuer credit rating and “BB+” issue-level rating on its unsecured notes and revised its outlook to negative from stable

• Yesterday morning, CTRE announced the appointment of Greg Stapley to its Board of Directors effective January 1, 2026 and the Board unanimously approved an increase in the size of its Board of Directors from five to six directors

Download today’s Daily REIT Beat here!

Welcome your comments and feedback.

Have a great day!

David Auerbach