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- The Daily REITBeat | Wednesday, August 13th, 2025
The Daily REITBeat | Wednesday, August 13th, 2025
David Auerbach
August 13, 2025
Retail Advisor Outreach Program
Are you a publicly-traded REIT trying to raise awareness with retail advisors?
Send us a message to learn about how we have built out a program to hit advisors and investors around the REIT properties we interact with every single day.
We have done this engagement with a handful of REITs and are in conversation with others to launch direct marketing campaigns.
Futures in the green at the time of this writing as talking heads focus on expectations that the Federal Reserve cuts interest rates at the September meeting while “risk on” seems to outweigh any concerns regarding tariff impacts.
From Bloomberg
"A rally in global stocks pressed on as mounting expectations for Federal Reserve interest rate cuts stoked risk-on sentiment and drove bond yields lower.
The S&P 500 looked set to build on Tuesday’s record close, with futures for the benchmark up 0.2%. Europe’s Stoxx 600 rose 0.5%. Most members of the Magnificent Seven tech megacaps climbed in premarket trading. The MSCI All Country World Index advanced 0.2% to a fresh all-time high.
Bonds rose in most markets. US Treasuries climbed across the curve, with the 10-year yield dropping four basis points to 4.25%. The dollar retreated 0.3%."
In REIT News
Morgan Stanley upgrades AVB to Overweight from Equalweight (lower price target by $3 to $225)
SPG priced $700 million of 4.375% senior notes due 2030 and $800 million of 5.125% senior notes due 2035 and intends to use the net proceeds to fund the redemption of all or a portion of the company's $1.1 billion outstanding principal amount of the 3.50% notes due 2025, at or prior to their maturity on September 2, 2025, and to use any remaining net proceeds for general business purposes, including to repay other unsecured indebtedness
INVH priced $600 million of 4.95% senior notes due 2033 on behalf of its operating partnership and intends to use the net proceeds for general corporate purposes, which may include the repayment of a portion of the operating partnership’s outstanding indebtedness under its revolving credit facility
CTRE upsized and priced a 20 million share secondary offering at $32/share raising gross proceeds of $640 million on behalf of its operating partnership and intends to use the net proceeds to fund new investments and repay the borrowings outstanding on its revolving credit facility
HIW executed a recast of a $200 million unsecured bank term loan by extending the maturity date from May 2026 to January 2029 as the term can be extended for two additional years at our option assuming no defaults have occurred and the interest rate on our new term loan is SOFR plus 95 basis points where the interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not it achieves certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions
VNO completed a $120 million refinancing of 4 Union Square South, a 204,000 sf Manhattan retail property where the ten-year interest only loan has a fixed rate of 5.64% and replaces the previous $120 million loan that bore interest at SOFR plus 1.50% (5.85% as of August 11, 2025) and was originally scheduled to mature in August 2025
Yesterday morning, TRNO announced that it has executed an early lease renewal for 52,000 sf in Washington, D.C. with a wine and spirits distributor noting that the lease will commence April 1, 2026 and expire March 2031
Yesterday morning, Fitch Ratings assigned ADC and its limited partnership first-time Long-Term Issuer Default Ratings of “A-“ with a stable outlook plus assigned its limited partnership a short-term issuer default rating of “F1” and rated its senior unsecured debt at “A-“ and the company’s preferred stock was assigned a “BBB” rating
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Have a great day!
David Auerbach