The Daily REITBeat | Wednesday, November 19th, 2025

"A Bruising Run"

Author

David Auerbach
November 19, 2025

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 (November 19th, 2025)

Futures in the green at the time of this writing as talking heads focus on the recent selloff and concerns of Nvidia’s earnings and the impact of AI/tech on the markets. Is the recent selloff a “healthy correction” or signs of something worse?

From Bloomberg

  • "Stocks steadied after a bruising run of losses, with traders pausing their selling ahead of Nvidia Corp.’s earnings in what will be a pivotal test for big tech.

  • S&P 500 futures rose 0.3%, leaving the benchmark on track to end its longest losing streak since August. Treasuries held after days of haven-driven gains. The dollar edged higher. Bitcoin traded below $92,000. Gold was set for its biggest gain in a week.

  • The S&P 500 has lost more than 3% this month as the tech giants that powered much of 2025’s gains came under pressure. Nvidia’s results, due after the close, are seen as a bellwether for whether lofty valuations and massive capital spending in artificial intelligence remain justified.

  • Wall Street executives have urged caution, warning investors to brace for further losses. Goldman Sachs President John Waldron said “technicals are kind of more biased for more protection, and more downside.” Atlas Merchant Capital’s Bob Diamond called the turmoil as a “healthy correction.”"

In REIT News

  • Citi upgrades CURB to Buy from Neutral (raise price target by $2 to $27)

  • Citi downgrades SKT to Neutral from Buy (lower price target by $3 to $35)

  • EQIX priced C$700 million aggregate principal amount of 4.000% Senior Notes due 2032 and intends to use the net proceeds from this offering to fund the acquisition of additional properties or businesses, fund development opportunities, and provide for working capital and other general corporate purposes, including but not limited to refinancing of the upcoming maturities and repayment of existing borrowings
    REXR announced that the Board of Directors has implemented its leadership succession plan whereby Laura Clark, Chief Operating Officer, will serve as Chief Executive Officer effective April 1, 2026, and was appointed as a member of the Company's Board of Directors effective November 17, 2025 as she will succeed Michael Frankel and Howard Schwimmer, both of whom will depart from their roles as Co-CEOs effective March 31, 2026 plus outlined strategic and financial priorities and actions underway to drive long-term value for shareholders

  • O closed on a £900 million Sterling-denominated unsecured term loan which initially matures in January 2028, before giving effect to one twelve-month extension option and proceeds from the loan will be used to repay outstanding Sterling-denominated borrowings on our $4.0 billion multicurrency revolving credit facility, effectively pre-funding the refinancing of our January 2026 multi-currency term loan, which includes a £705 million Sterling-denominated tranche

  • ADC announced the closing of an unsecured $350 million 5.5-year term loan which includes an accordion option that allows the Company to request additional lender commitments up to a total of $500 million plus amended its existing $1.25 billion senior unsecured revolving credit facility, as well as its $350 million term loan due January 2029, to remove the SOFR credit spread adjustment and make other changes that conform to the new Term Loan

  • ONL confirmed that it has received notice from Kawa Capital Management that Kawa has nominated five individuals (Dan Amer, Porter Openshaw, Isaac K. Fisher, Nirmol Roy and Andrew Gitelson) to stand for election to its Board of Directors at the Company’s 2026 Annual Meeting of Stockholders

  • FCPT announced the acquisition of a Caliber Collision property located in a strong retail corridor in Texas for $4.9 million noting that the property is corporate-operated under a triple net lease with approximately five years of term remaining and priced at a 7.3% cap rate including rent credits received at closing and exclusive of transaction costs

  • Yesterday morning, SPG announced that it has acquired Phillips Place in the heart of the SouthPark neighborhood of Charlotte, NC which is an open-air retail center spanning 134,000 sf that is home to more than 25 retail shops and restaurants, including alice+ olivia, Peter Millar, rag & bone, Ralph Lauren, Veronica Beard, RH Gallery with a Rooftop Restaurant, and The Palm, as well as a 180+ room hotel, which the Company also owns, and a multi-family residential component

  • Yesterday morning, TRNO acquired an industrial property located in Long Island City Queens, NY for a purchase price of approximately $4.7 million noting that the property consists of a 0.5-acre improved land parcel at 4-28 33rd Street which is 35% leased to one tenant and the estimated stabilized cap rate is 6.4%

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Welcome your comments and feedback.

Have a great day!

David Auerbach