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- The Daily REITBeat | Wednesday, July 30th, 2025
The Daily REITBeat | Wednesday, July 30th, 2025
"Something for Everyone"
David Auerbach
July 30, 2025
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Futures in the green at the time of this writing as talking heads focus on a big day of jobs data, GDP, the Federal Reserve interest rate policy decision and outlook along with a big slate of corporate earnings. Basically something there for everyone today.
From Bloomberg
"Stocks struggled for direction in the hours before Wednesday’s Federal Reserve interest-rate decision as traders tackled a heavy load of major company earnings.
S&P 500 contracts were little changed in the lead-up to the decision on interest rates, which have become a cause of contention between the White House and Fed Chair Jerome Powell. The Bloomberg Dollar Spot Index snapped a four-day rally that followed trade pacts with the European Union and Japan.
Fed policymakers are largely expected to hold rates steady for a fifth consecutive meeting in the face of sustained pressure from President Donald Trump on Powell to lower borrowing costs. Investors will watch for any signs of a greater openness from the Fed to easing when it next gathers in September as they take stock of the number of dissenting policymakers. Swap markets have priced around 100 basis points of easing over the next 12 months.
“They’ll want to see what happens on the inflation side, so the speed of those cuts may not be as much as risk assets might want,” Priya Misra, portfolio manager at J.P. Morgan Asset Management, told Bloomberg TV. “Interest rates are still restrictive. How much do they need to cut to get into accomodative territory? They have to cut a lot.”
Before the Fed, GDP figures will offer an update on the health of the American economy in the buildup to Friday’s key payrolls report. The relentless rush of big earnings continues in the US later, with Microsoft Corp. and Meta Platforms Inc. both reporting."
In REIT News
HSBC downgrades AMT to Hold from Buy (lower price target by $10 to $235)
AAT, AKR, BXP, CHCT, CTO, ESS, FCPT, FSP, HIW, ILPT, IVT, JBGS, LXP, PEB, REG, STAG, UE, WPC announced quarterly earnings while AHT, AVB, BNL, EPR, EQIX, EXR, HST, INVH, IRT, KRG, MAA, OPI, PGRE, PSA, SUI, UDR, VICI, VTR, WSR announce after the close of trading and CIO, KIM, MPW, MRP announce tomorrow morning before the open
BXP announced the commencement of full vertical construction of 343 Madison Avenue, a 930,000 sf premier workplace with direct access to Grand Central’s Madison Concourse between 44th and 45th Street and noted that it has executed a letter of intent with a prestigious, investment grade financial institution to anchor 343 Madison Avenue and occupy 30% of the building, in the lower-middle section of the tower
CBL acquired four dominant enclosed regional malls for $178.9 million from Washington Prime Group noting that the malls include Ashland Town Center in Ashland, KY, Mesa Mall in Grand Junction, CO, Paddock Mall in Ocala, FL, and Southgate Mall in Missoula, MT as the transaction represents significant progress in the execution of CBL’s portfolio optimization strategy – to redeploy proceeds from non-core asset sales into stable and growing assets that generate immediate accretion to CBL’s portfolio cash yield plus completed a modification and extension of its existing $333.0 million non-recourse outparcel and open-air center loan with Beal Bank USA
Yesterday morning, TRNO announced that it sold a portfolio of six industrial properties containing approximately 302,000 sf on 14.6 acres which are 91% leased to 21 tenants located in Doral, FL on July 28, 2025 for a sale price of approximately $82.3 million and the unleveraged internal rate of return generated by the investment was 14.7%
Yesterday morning, VNO announced that Verizon will relocate its New York headquarters to PENN 2 where as part of a 19-year lease, Verizon will occupy nearly 200,000 sf in office space across the eighth through tenth floors which includes exclusive access to more than 25,000 sf of outdoor space plus Verizon will also establish a flagship retail location on Seventh Avenue
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Have a great day!
David Auerbach