#  @RealAssetsValue Real Assets Value Real Assets Value posts on X about reit, $fvr, debt, in the the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours. ### Engagements: [-----] [#](/creator/twitter::396466677/interactions)  - [--] Week [------] +6.90% - [--] Month [------] +94% - [--] Months [-------] +7.20% - [--] Year [-------] +14% ### Mentions: [--] [#](/creator/twitter::396466677/posts_active)  - [--] Month [--] -45% - [--] Months [---] +15% - [--] Year [---] +38% ### Followers: [-----] [#](/creator/twitter::396466677/followers)  - [--] Week [-----] +0.21% - [--] Month [-----] +2.20% - [--] Months [-----] +11% - [--] Year [-----] +24% ### CreatorRank: [-------] [#](/creator/twitter::396466677/influencer_rank)  ### Social Influence **Social category influence** [finance](/list/finance) 45% [stocks](/list/stocks) 40% [cryptocurrencies](/list/cryptocurrencies) 3% [countries](/list/countries) 2% [currencies](/list/currencies) 2% [technology brands](/list/technology-brands) 1% [agencies](/list/agencies) 1% **Social topic influence** [reit](/topic/reit) #49, [$fvr](/topic/$fvr) #1, [debt](/topic/debt) #1307, [in the](/topic/in-the) 7%, [update](/topic/update) 6%, [$wsr](/topic/$wsr) #2, [$vre](/topic/$vre) #3, [$cpt](/topic/$cpt) #11, [market](/topic/market) 4%, [$ntst](/topic/$ntst) #5 **Top accounts mentioned or mentioned by** [@mrneutralman](/creator/undefined) [@jeffbeckmaddog](/creator/undefined) [@thepupil11](/creator/undefined) [@mr_neutral_man](/creator/undefined) [@ellliotttb](/creator/undefined) [@adamb1438](/creator/undefined) [@hybridvigorish](/creator/undefined) [@zgoldenone](/creator/undefined) [@advisorsmidwest](/creator/undefined) [@rhunterh](/creator/undefined) [@privateeyecap](/creator/undefined) [@joinyellowbrick](/creator/undefined) [@missingmiddle](/creator/undefined) [@icmlaoyang](/creator/undefined) [@j264b](/creator/undefined) [@dontflytoohigh](/creator/undefined) [@recoverytrade](/creator/undefined) [@fintwitwannabe](/creator/undefined) [@pekwat](/creator/undefined) [@theweezguy](/creator/undefined) **Top assets mentioned** [FrontView REIT, Inc. (FVR)](/topic/$fvr) [Camden Property Trust (CPT)](/topic/$cpt) [NetSTREIT Corp. (NTST)](/topic/$ntst) [Rexford Industrial Realty, Inc. (REXR)](/topic/$rexr) [EPR Properties (EPR)](/topic/$epr) [Clipper Realty Inc. Common Stock (CLPR)](/topic/$clpr) [Elme Communities (ELME)](/topic/$elme) [Mid-America Apartment Communities Inc (MAA)](/topic/$maa) [Apartment Investment and Management Company (AIV)](/topic/$aiv) [Easterly Government Properties, Inc. (DEA)](/topic/$dea) [COPT Defense Properties (CDP)](/topic/$cdp) [Community Healthcare Trust Incorporated (CHCT)](/topic/$chct) ### Top Social Posts Top posts by engagements in the last [--] hours "US retail real estate fundamentals are very supportive going into [----] with availability rates at or near all-time lows. 1/" [X Link](https://x.com/RealAssetsValue/status/2019849649612304462) 2026-02-06T19:04Z [----] followers, [---] engagements "$REXR on dispositions - still finding a bid on repositioning assets from developers (at what they view as 4% yield on cost) and users acquiring operating assets at low 4% cap rates vs. their high 5% implied cap rate" [X Link](https://x.com/RealAssetsValue/status/2020568614718337119) 2026-02-08T18:41Z [----] followers, [----] engagements "At long last $PCTN.L has hoisted up the for sale sign commencing a strategic review. They have been selling assets to repurchase shares and have been disciplined not raising dilutive equity or making dilutive acquisitions so mgmt and the board deserve credit. 1/ $PCTN.L - small UK REIT sold their largest (by value) office property for a 4.6% NIY / 1% discount to external valuation. Increases (mostly urban) industrial share and proceeds funding continued share buybacks. I est. NAV [----] [----] based on valuer est. Trades at 20% disc. https://t.co/VZyLRIzinK $PCTN.L - small UK REIT sold their" [X Link](https://x.com/anyuser/status/2011116830241300526) 2026-01-13T16:43Z [----] followers, [----] engagements "Took stock of the performance of my listed real estate write-ups in the back half of [----]. Winners: $DRR.U (exit recommended) $FVR $ASLI.L Losers: $API.L (exit recommended) Link: https://open.substack.com/pub/realassetsvalue/p/performance-review-h2-2025utm_campaign=post-expanded-share&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/performance-review-h2-2025utm_campaign=post-expanded-share&utm_medium=web" [X Link](https://x.com/anyuser/status/2013990489448403047) 2026-01-21T15:02Z [----] followers, [----] engagements "Bruce Schanzer / Erez popping up at another small cap REIT. $VRE should definitely run a process. 🚨Erez Asset Management Encouraging $VRE Veris Residential to Explore Options 🚨 Reuters out with a story that Bruce Schanzer is urging the company to put itself up for sale arguing a transaction could reward shareholders with a 70% premium to the real estate investment 🚨Erez Asset Management Encouraging $VRE Veris Residential to Explore Options 🚨 Reuters out with a story that Bruce Schanzer is urging the company to put itself up for sale arguing a transaction could reward shareholders with a" [X Link](https://x.com/anyuser/status/2019516193003171994) 2026-02-05T20:59Z [----] followers, [----] engagements "Limited availability has been holding back net absorption which was weak for much of [----] in aggregate. However demand appears to have rebounded across retail sub-sectors in the 2nd half of the year. 4/" [X Link](https://x.com/RealAssetsValue/status/2019849656436683183) 2026-02-06T19:04Z [----] followers, [---] engagements "Feels like retail strip centers - and grocery-anchored in particular - are consensus favorites for "smart money" real estate investors in 2026" [X Link](https://x.com/RealAssetsValue/status/2021958534544691330) 2026-02-12T14:44Z [----] followers, [----] engagements "Market smiles on small net lease REIT equity raises - $NTST up after upsized offering 10% of market cap. $19/share is 6.5% implied cap rate on RR Q4 cash NOI & 14.5x LQA / 14x 2026e AFFO. This + TL rate results in a 6.5% WACC vs. acq. at 7.5% cap rates. Accretive but thin" [X Link](https://x.com/RealAssetsValue/status/2021989158244561046) 2026-02-12T16:45Z [----] followers, [---] engagements "Retail net lease cap rates are back up to [----] levels and look like they're leveling out. But the 10yr in [----] was 2.5% vs. 4% today so a [---] bp spread today instead of [---] bps back then. Do cap rates need to rise from here to "normalize" if rates don't fall" [X Link](https://x.com/RealAssetsValue/status/2022134361261555795) 2026-02-13T02:22Z [----] followers, [----] engagements "@JeffBeckMadDog Management widely regarded as the kings of never creating value for shareholders in the REIT investing community. Even that of Philly I have done zero work on the name so take that as you will" [X Link](https://x.com/RealAssetsValue/status/2022387181051089024) 2026-02-13T19:07Z [----] followers, [---] engagements "@AdamB1438 Fundamentals are solid so core buyers comfortable with buying in 5s and getting 7%-8% LT returns. Cap rates in the 5s mean value add guys can make money. Question is when next wave of distressed retailers materializes and start closing stores. Minimal new supply on the horizon" [X Link](https://x.com/RealAssetsValue/status/2021989577775607975) 2026-02-12T16:47Z [----] followers, [---] engagements "@Mr_Neutral_Man At $106.50 I see $CPT at a 6.5% cap $255k per unit 15.7x 2026e AFFO multiple. 20% disc. to my $132.35/share NAV est (5.35% cap rate). $REXR at $36.60 is a 6% cap $230 PSF 18.7x 2026e AFFO multiple. 15% disc. to my $43.10/share NAV est (5.15% cap). Getting interesting" [X Link](https://x.com/RealAssetsValue/status/2022017528827195478) 2026-02-12T18:38Z [----] followers, [---] engagements "$DRR.U to be acquired by Morgan Properties in an all-cash transaction for $10.80 per share. Transaction value of $354m reflects a 7.2% cap rate and $110k per unit. Probably a portfolio discount to sell this in one go instead of a piecemeal liquidation which I am OK with. 1/" [X Link](https://x.com/RealAssetsValue/status/1958521073219047634) 2025-08-21T13:26Z [----] followers, 12.9K engagements "LT rates up from their lows earlier this month but cost of capital for NNN REITs - both big and small - not looking too shabby: $O secures $800m of 5yr debt at 4.4% lower rate than $550m Nov maturity (4.625%). $NTST secures $450m of 6yr debt at 4.6% - 4.9%" [X Link](https://x.com/RealAssetsValue/status/1971564274867745135) 2025-09-26T13:15Z [----] followers, [----] engagements "$REXR got very cheap this year on tariff and SoCal industrial market weakness. This went from a 3% position for me (at prices higher than today) in late [----] to 6% at a $37/share basis. At that price was trading 6% cap rate $240 PSF and a 21x AFFO multiple. 1/" [X Link](https://x.com/RealAssetsValue/status/1979200141266505781) 2025-10-17T14:57Z [----] followers, [----] engagements "Post-earnings REIT unsecured round up as I am sure we'll see a bunch issued with bond yields not far off their recent lows $MAA (S&P: A-): $400m of 7yr notes at 4.68% effective rate. $EPR (S&P: BBB- but they own lots of movie theaters): $550m of 5yr notes at 4.75% headline rate" [X Link](https://x.com/RealAssetsValue/status/1985514987910033706) 2025-11-04T01:10Z [----] followers, [----] engagements "@thepupil11 @Mr_Neutral_Man @missingmiddle And that the OP unitholders who control the entity would block almost any type of M&A due to their tax basis. Would take a very specific type of buyer and transaction (see BSR REIT this year) for it to make sense for them and those buyers don't want everything $CLPR own" [X Link](https://x.com/RealAssetsValue/status/1989325644094714242) 2025-11-14T13:32Z [----] followers, [---] engagements "@Mr_Neutral_Man @thepupil11 @missingmiddle If you think M&A is unlikely do you value based on price / AFFO DDM something else instead of discount to NAV / implied cap rate IMO the NAV-based approach to listed RE is inherently reliant on public-private interplay to close gap. Applicable Q to many REITs not just $CLPR" [X Link](https://x.com/RealAssetsValue/status/1990819535918608658) 2025-11-18T16:28Z [----] followers, [---] engagements "An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/" [X Link](https://x.com/RealAssetsValue/status/1991218999015665998) 2025-11-19T18:56Z [----] followers, [----] engagements "$GTY private placement of $250m of senior unsecured notes 10-year term 5.76% or T+155bps. Small net lease REIT cuspy credit (Fitch BBB-). Buying assets around 8% cap" [X Link](https://x.com/RealAssetsValue/status/1991529436483842464) 2025-11-20T15:29Z [----] followers, [----] engagements "$FVR up 5% today on announcing $75m buyback authorization. Yet another example of market inefficiency in these small under-followed REITs. They announced the buyback authorization in Q3 [----] earnings. Looking forward to shares dropping 5% once the ATM program is announced 😂 An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/ https://t.co/MIjvQjZlBL An interesting & creative preferred equity fundraise turned my FrontView" [X Link](https://x.com/RealAssetsValue/status/1993339998050070811) 2025-11-25T15:24Z [----] followers, [----] engagements "BofA on $FVR: U/P & $12 price target due to "relative investment spreads to peers". Their AFFO estimates are light IMO. Deploying the $20m of cash on BS at 7.25% cap alone adds $0.05 of AFFO/share hitting 2027e right there. I see path to $1.38 / share run rate next year. 1/" [X Link](https://x.com/RealAssetsValue/status/1996632345554870439) 2025-12-04T17:27Z [----] followers, [----] engagements "The Pillarstone saga coming to a close at $WSR - received a $33.4m distribution with another $4m+ to come in [----] healthily topping the $31.6m receivable on the BS. Used to pay down half of drawn RCF to $35m. Also announced sale of older Houston asset price not disclosed. 1/" [X Link](https://x.com/RealAssetsValue/status/2000608413294735788) 2025-12-15T16:46Z [----] followers, [----] engagements "$AIV under contract on their Chicago portfolio 2/3 of their stabilized operating NOI for $455m which I estimate is a low 6% cap rate and $300k per unit. Projected to close in Q1 [----] and about $1 per share in net proceeds after release of debt" [X Link](https://x.com/RealAssetsValue/status/2000739753415573613) 2025-12-16T01:28Z [----] followers, [----] engagements "@Mr_Neutral_Man Gov. / DC - $DEA $JBGS $CDP Secondary healthcare/MOB: $GMRE $CHCT $SILA Outside of the US: $UTG.L (student housing)" [X Link](https://x.com/RealAssetsValue/status/2001314573496836527) 2025-12-17T15:32Z [----] followers, [---] engagements "$NLOP update the other day - $76m of asset sales $5.10 per share distribution coming in Jan. This brings Q4 sales to $110m incl. Thermo Fisher in NC. Sales came in below my value estimates by 12% knocked off $1 per share of my NAV. Mid teens cap rates on leased assets 1/" [X Link](https://x.com/RealAssetsValue/status/2003564532229431401) 2025-12-23T20:33Z [----] followers, [----] engagements "$FVR net acquisitions tracking ahead of guidance: -$24m of Q4 net acquisitions (vs. $20m guide) at 7.5% cap. Sold [--] properties [--] vacant / [--] operating 6.8% cap rate. -$26.5m of net acquisitions under contract at 7.25% - 7.50% cap (vs. 7.25% guide) - expect to hit $25m in Q1" [X Link](https://x.com/RealAssetsValue/status/2010883935153074287) 2026-01-13T01:17Z [----] followers, [---] engagements "More data on capital available (and cost) for Mexican industrial - Prologis-sponsored Fibra raises $500m of 12yr notes at 5.625%. Call it 150bps over the UST 10yr. Interesting element of the $O / GIC JV partnership announced today - capital flows into Mexico Industrial through BTS developments. https://t.co/fj9qVUe4TH Interesting element of the $O / GIC JV partnership announced today - capital flows into Mexico Industrial through BTS developments. https://t.co/fj9qVUe4TH" [X Link](https://x.com/RealAssetsValue/status/2011514211915219254) 2026-01-14T19:02Z [----] followers, [----] engagements "$PLD on SoCal industrial: -See green shoots in qualitative metrics absorption -Class A and inland empire outperforming -Specifically calling out big box inland empire as strong" [X Link](https://x.com/RealAssetsValue/status/2014046099112112219) 2026-01-21T18:43Z [----] followers, [---] engagements "Disappointment continues at $ELME with a downward revision of liquidation distributions after missing the initial distribution figure. FWIW the [--] Class B MD / ATL assets they expect to sell imminently are at a 6.6% cap rate" [X Link](https://x.com/RealAssetsValue/status/2015880420844278149) 2026-01-26T20:12Z [----] followers, [----] engagements "UK small cap REIT sector shrinkening continues. Life science REIT $LABS.L - which raised money at peak lab RE hype and trough rates getting acquired by British Land for [----] in cash and stock. Meh premium deep 26% discount to valuation. 1/" [X Link](https://x.com/RealAssetsValue/status/2016917482221490433) 2026-01-29T16:52Z [----] followers, [---] engagements "$CPT looking to start [----] off with a bang. Anyone want to forecast where this ends up vs. the $1.5bn guide ($415k/unit) [----] units 96% occ. $2850/month rents $88m of annualized NOI (based on YTD [----] as of Q3) up 4% y-on-y. @Mr_Neutral_Man @hybridvigorish @EllliotttB" [X Link](https://x.com/RealAssetsValue/status/2016956505635823771) 2026-01-29T19:27Z [----] followers, 10.1K engagements "A pleasant surprise today with Brookfield taking $PKST private at $21 per share. I haven't written about this much recently but has been a top [--] position for me for a couple years (so my IRR headline premium). 1/" [X Link](https://x.com/RealAssetsValue/status/2018403595163492454) 2026-02-02T19:18Z [----] followers, [----] engagements "@Mr_Neutral_Man Brookfield (also I will be shocked if we don't find a nice golden parachute in the proxy):" [X Link](https://x.com/RealAssetsValue/status/2018424425704542448) 2026-02-02T20:40Z [----] followers, [---] engagements "@hybridvigorish @Mr_Neutral_Man @EllliotttB From the $CPT call today - planning to put 60% of proceeds into sunbelt 1031s remainder for share repurchases. Positive" [X Link](https://x.com/RealAssetsValue/status/2019842627764682936) 2026-02-06T18:36Z [----] followers, [--] engagements "@icmlaoyang @hybridvigorish @Mr_Neutral_Man @EllliotttB If you dont have an app that gives access to calls/transcripts like Quartr Tikr etc. they will post the transcript soon: https://investors.camdenliving.com/investors/financials/quarterly-results/default.aspx https://investors.camdenliving.com/investors/financials/quarterly-results/default.aspx" [X Link](https://x.com/RealAssetsValue/status/2020108145327026376) 2026-02-07T12:11Z [----] followers, [--] engagements "@zgoldenone I don't think it will be easy or fast to lease up their repositioning / redevelopment projects unless market demand markedly improves but I do think they will slowly and surely chip away. On buybacks already happening" [X Link](https://x.com/RealAssetsValue/status/2020583563830444236) 2026-02-08T19:40Z [----] followers, [---] engagements "@Mr_Neutral_Man A terrible REIT market has made me greedy - 20% discount to NAV What is this a discount for ANTS" [X Link](https://x.com/RealAssetsValue/status/2022018406573277614) 2026-02-12T18:42Z [----] followers, [---] engagements "@Mr_Neutral_Man But yeah I own a good chunk of $CPT (top [--] position) - maybe it doesn't do amazing this year or next year but it's definitely not expensive" [X Link](https://x.com/RealAssetsValue/status/2022018647901012102) 2026-02-12T18:43Z [----] followers, [---] engagements "@jasonmiller15 @AdamB1438 My view is there is a strong cyclical element - i.e. current cap rates are incorporating near-term market rental growth. Non-anchored might actually go for lower cap rate than grocery due to ability to "get at" the market to market sooner Not saying its fully rational" [X Link](https://x.com/RealAssetsValue/status/2022049442191577333) 2026-02-12T20:45Z [----] followers, [--] engagements "With SEK 500m of cash SEK 400m of retained cash flow this year and 50% LTV debt they have SEK 1.3bn of dry powder this year after acquiring SEK 500m YTD. At a low 4% cost of debt (Swedish bank margins are 120-140bps) this could drive SEK [----] PFPM / share (+12%) growth. 7/" [X Link](https://x.com/RealAssetsValue/status/2022372841329430834) 2026-02-13T18:10Z [----] followers, [--] engagements "Some comments on $FVR from Chilton Capital's monthly must read REIT publication: https://chiltonreit.com/2026/02/01/property-type-round-up-from-reitworld-2025-february-2026/ https://chiltonreit.com/2026/02/01/property-type-round-up-from-reitworld-2025-february-2026/" [X Link](https://x.com/RealAssetsValue/status/2018785092483903827) 2026-02-03T20:34Z [----] followers, [----] engagements "@Mr_Neutral_Man It's an interesting question for REITs: [--]. Values should move less than prices and as a discount closes should sell right [--]. But the REIT model means they can enter positive feedback loop at premium to NAV (issue equity buy accretively) [--]. And compounding / taxes" [X Link](https://x.com/RealAssetsValue/status/2022019662314381492) 2026-02-12T18:47Z [----] followers, [---] engagements "@JeffBeckMadDog On $VRE Bow Street DID have success in [----] I don't think they should have sold to Kushner (even if bid was funded which is questionable) in [----] as rates had just blown out. The current environment DOES make sense IMO so if Mahbod resists would be a black eye on his rep" [X Link](https://x.com/RealAssetsValue/status/2022388353656852748) 2026-02-13T19:12Z [----] followers, [---] engagements "CBRE report: 5/5 https://mktgdocs.cbre.com/2299/0c603f9c-a3d8-42ec-ae4c-f9990997204d-1230206720/Q4_2025_U.S._Retail_Figures.pdf https://mktgdocs.cbre.com/2299/0c603f9c-a3d8-42ec-ae4c-f9990997204d-1230206720/Q4_2025_U.S._Retail_Figures.pdf" [X Link](https://x.com/RealAssetsValue/status/2019849659728937138) 2026-02-06T19:04Z [----] followers, [---] engagements "I am not surprised to see Londonmetric is kicking the tires on $PCTN.L whose urban industrial/logistics assets would be a good fit. $LDN.L have traded up to NAV / a slight premium so share deal more attractive. I'd guess Tritax also looking on public side Blackstone on private. At long last $PCTN.L has hoisted up the for sale sign commencing a strategic review. They have been selling assets to repurchase shares and have been disciplined not raising dilutive equity or making dilutive acquisitions so mgmt and the board deserve credit. 1/ https://t.co/dTFWJsCpuK At long last $PCTN.L has hoisted" [X Link](https://x.com/RealAssetsValue/status/2021629886901923859) 2026-02-11T16:58Z [----] followers, [---] engagements "Logistea AB reported Q4 results: -profit from property management of SEK [----] per share 70% growth year-on-year following the transformative KMC properties acquisition. -Occupancy 96.9% 9.4yr WALT LfL NOI flat -7.9x net debt / EBITDA 2.6x ICR (up from 2.1x) 48% LTV 1/" [X Link](https://x.com/RealAssetsValue/status/2022372829912535290) 2026-02-13T18:10Z [----] followers, [---] engagements "At SEK [--] per share they trade at 13x LQA PFPM before tax and 16x after tax. Implied yield of 7% and SEK [----] / sq m. Trades at a 5% discount to its portfolio value. I think this is an undemanding price for a decent quality business generating good cash flow growth. 8/" [X Link](https://x.com/RealAssetsValue/status/2022372842852028525) 2026-02-13T18:10Z [----] followers, [---] engagements "Investing journal write up from June 2025: 9/9 https://open.substack.com/pub/realassetsvalue/p/investing-journal-logistea-abr=ogi7p&utm_campaign=post&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/investing-journal-logistea-abr=ogi7p&utm_campaign=post&utm_medium=web" [X Link](https://x.com/RealAssetsValue/status/2022372844202533201) 2026-02-13T18:10Z [----] followers, [---] engagements "@JeffBeckMadDog On $WSR I think the bidding will be healthy if they run a process and I think the price should end up somewhere in the $17 / share range about a 7% cap. They've cleaned up Pillarstone and chunk of the weaker stuff in the portfolio in 2025" [X Link](https://x.com/RealAssetsValue/status/2022389052268482795) 2026-02-13T19:14Z [----] followers, [---] engagements "@stressed_assets @JeffBeckMadDog I think net liquidation value could be in the $19 - $20 per share range. https://substack.com/@realassetsvalue/note/c-169813213utm_source=notes-share-action&r=ogi7p https://substack.com/@realassetsvalue/note/c-169813213utm_source=notes-share-action&r=ogi7p" [X Link](https://x.com/RealAssetsValue/status/2022397375407689985) 2026-02-13T19:48Z [----] followers, [--] engagements "$VRE Q3 results out yesterday: -Rents & occ. growing NOI down q-on-q (RE taxes) but up YTD. -Closed pending sales sold a dev site used proceeds to delver (now *just* 10x ND / EBITDA). -Last Jersey City dev site U/C for $75m feels like a weak price. -NAV of $19.30 per share" [X Link](https://x.com/RealAssetsValue/status/1981799715831238902) 2025-10-24T19:07Z [----] followers, [----] engagements "Update note: Original write up: 2/ https://open.substack.com/pub/realassetsvalue/p/abrdn-european-logistics-income-plcr=ogi7p&utm_campaign=post&utm_medium=web https://substack.com/profile/41080885-real-assets-value/note/c-170694598r=ogi7p&utm_source=notes-share-action&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/abrdn-european-logistics-income-plcr=ogi7p&utm_campaign=post&utm_medium=web https://substack.com/profile/41080885-real-assets-value/note/c-170694598r=ogi7p&utm_source=notes-share-action&utm_medium=web" [X Link](https://x.com/RealAssetsValue/status/1982832808042381698) 2025-10-27T15:32Z [----] followers, [---] engagements "Update note: Original write up: 3/3 https://realassetsvalue.substack.com/p/abrdn-european-logistics-income-plc https://substack.com/@realassetsvalue/note/c-173100357r=ogi7p&utm_source=notes-share-action&utm_medium=web https://realassetsvalue.substack.com/p/abrdn-european-logistics-income-plc https://substack.com/@realassetsvalue/note/c-173100357r=ogi7p&utm_source=notes-share-action&utm_medium=web" [X Link](https://x.com/RealAssetsValue/status/1985359605996597326) 2025-11-03T14:53Z [----] followers, [---] engagements "@J264B @Mr_Neutral_Man @AdvisorsMidwest Maybe Im being overly negative but I see more of an $ELME type outcome here rather than a Preferred Apartments or Bluerock Residential Growth" [X Link](https://x.com/RealAssetsValue/status/1988368834072568211) 2025-11-11T22:10Z [----] followers, [---] engagements "Find it here: 3/ https://realassetsvalue.substack.com/p/investing-journal-frontview-reit https://realassetsvalue.substack.com/p/investing-journal-frontview-reit" [X Link](https://x.com/RealAssetsValue/status/1991219002685698152) 2025-11-19T18:56Z [----] followers, [---] engagements "Find it here: https://open.substack.com/pub/realassetsvalue/p/abrdn-property-income-apilr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/realassetsvalue/p/abrdn-property-income-apilr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true" [X Link](https://x.com/RealAssetsValue/status/1993275744831885709) 2025-11-25T11:09Z [----] followers, [---] engagements "@stocksonnets @vanckzhu @Mr_Neutral_Man @rhunterh And REIT investors are so beaten down it trades up on that news as we're just relieved that the distributions will actually be there" [X Link](https://x.com/RealAssetsValue/status/1993706833018859774) 2025-11-26T15:42Z [----] followers, [---] engagements "@nbeachny Yeah - good pushback to small MF REITs ( $VRE $HOM.U) is the cap rate spread to peers has closed. But the wrong way $CPT / $UDR / $EQR all at similar prices but are superior biz / balance sheets. I think there's torque to the little leveraged guys but that cuts both ways" [X Link](https://x.com/RealAssetsValue/status/1996651340257546596) 2025-12-04T18:42Z [----] followers, [---] engagements "@thepupil11 The first and only time I travelled to Hawaii this past weekend $ALEX gets bought out - REIT masochists tell me where to vacation next" [X Link](https://x.com/RealAssetsValue/status/1998426556205810034) 2025-12-09T16:16Z [----] followers, [---] engagements "More worrying to the thesis - announcement indicates no close of Google or Omnicom - the best of the rest - in Q4. Have been in the market for a while. KBR as well albeit that was brought to market later (but at a knock-down price with broker guiding $80m). 2/" [X Link](https://x.com/RealAssetsValue/status/2003564534393639298) 2025-12-23T20:33Z [----] followers, [---] engagements "@joecool20250204 Thanks for the kind words. Out of my write ups $VRE / $HOM.U - the small cap MF dogs - are well-positioned IMO. Their issue is leverage is high but manageable and that gives them torque when fundamentals turn. They own portfolios larger investors want so M&A % good" [X Link](https://x.com/RealAssetsValue/status/2014315885205258550) 2026-01-22T12:35Z [----] followers, [---] engagements "US real estate debt capital markets continued to improve in Q4 according to CBRE. Their lending momentum index remains at strong levels. 1/" [X Link](https://x.com/RealAssetsValue/status/2018789131393077362) 2026-02-03T20:50Z [----] followers, [---] engagements "@EllliotttB @Cashflow_Cowboy The next generation of management*" [X Link](https://x.com/RealAssetsValue/status/2018847110117064715) 2026-02-04T00:40Z [----] followers, [---] engagements "@J264B And new core / core-plus looks attractive to LPs from an income perspective as they are based on market cap rates as opposed to legacy core funds which are at appraisal cap rates" [X Link](https://x.com/RealAssetsValue/status/2019114475350323471) 2026-02-04T18:22Z [----] followers, [--] engagements "@EllliotttB @jayparsons From the $AVB call today" [X Link](https://x.com/RealAssetsValue/status/2019506837117337775) 2026-02-05T20:22Z [----] followers, [---] engagements "@dontflytoohigh @Mr_Neutral_Man @AdamB1438 @thepupil11 @RecoveryTrade @fintwit_wannabe @PrivateEyeCap I don't think so - mostly multi-let even in their office portfolio (definitely in the flex / industrial portfolio). WALT was always low single digits when I owned it (towards the end of its life as a public company)" [X Link](https://x.com/RealAssetsValue/status/1660650165919797248) 2023-05-22T14:13Z [----] followers, [---] engagements "@dontflytoohigh @Mr_Neutral_Man @AdamB1438 @thepupil11 @RecoveryTrade @fintwit_wannabe @PrivateEyeCap $LXP has been selling their net lease office $O spun off the office after deal with Vereit into $ONL which was [--] year WALT and has been a train wreck. Not many public buyers of net lease office today but GIC did the JV on assets $PKST sold in 2021" [X Link](https://x.com/RealAssetsValue/status/1660650450180362242) 2023-05-22T14:14Z [----] followers, [---] engagements "@rhunterh I had thought that $ONL the $O / VEREIT spin could also be interesting was written up on VIC - some current metrics as food for thought. Trades at a 16% implied cap rate / $80 PSF today. 3x FFO (but have to account for full cycle CAPEX). Selling vacant assets at $40 PSF" [X Link](https://x.com/RealAssetsValue/status/1706666044721398265) 2023-09-26T13:44Z [----] followers, [----] engagements "Segro PLC $SGRO.L Q3 trading update out last week: -Leasing slower than last year coming off COVID boost -Occupancy solid but down slightly to 95% -Customer retention still high 80% -Uplifts achieved on renewals / reviews consistent 20% 1/" [X Link](https://x.com/RealAssetsValue/status/1716533561732341921) 2023-10-23T19:14Z [----] followers, [---] engagements "Cost of debt capital for European industrial not terrible at least for well-capitalized groups - $SGRO.L issued 500m of 8yr notes at 3.5%. 6x over-subscribed" [X Link](https://x.com/RealAssetsValue/status/1836418485116711227) 2024-09-18T14:54Z [----] followers, [---] engagements "@Mr_Neutral_Man @thepupil11 @rhunterh @DailyREITBeat DDR has been in a slo-mo liquidation / reorientation for years as you know spin-offs / sales of $RVI and $STIC have been surprisingly large numbers. Not really M&A deals though. Cedar / $WHLR doesn't feel like it *really* counts but that wasn't that long ago" [X Link](https://x.com/RealAssetsValue/status/1846964773486776793) 2024-10-17T17:21Z [----] followers, [---] engagements "@mtccap Industrial and student accommodation both working through cyclical issues but fundamentally good sectors LT IMO. I own $SGRO.L $HWG.L $PCTN.L and $ESP.L with a little $PCA.L left as it liquidates" [X Link](https://x.com/RealAssetsValue/status/1857253922944995835) 2024-11-15T02:46Z [----] followers, [---] engagements "BSR REIT $HOM.U is a small-cap relatively illiquid REIT that owns Texas multifamily properties and is listed on the TSX. Represents an attractive opportunity to benefit from improving fundamentals as supply abates with upside through good M&A / take-private odds 1/" [X Link](https://x.com/RealAssetsValue/status/1942619251052855595) 2025-07-08T16:18Z [----] followers, [----] engagements "Looking at NNN REITs $FVR has highest exposure to substantial risk + tenants due to [--] JoAnn's. Looking at "speculative" risk $EPR sticks out due to cinema tenancy and $NNN & $NTST have elevated exposure as well with Advanced Auto Parts a exposure a major driver. 2/2" [X Link](https://x.com/RealAssetsValue/status/1948043793212600597) 2025-07-23T15:33Z [----] followers, [---] engagements "$PECO has acquired $280m of properties in the first half of [----] at a 6.7% cap rate ($265 PSF). Interestingly lots of unanchored and shadow-anchored centers in the mix. Sold [--] asset for a 7.8% cap rate / $165 PSF" [X Link](https://x.com/RealAssetsValue/status/1948537862258921628) 2025-07-25T00:16Z [----] followers, [---] engagements "Majority of the $CIO Phoenix portfolio sale closed - all assets except Pima Center for $266m. Pima U/C for $30m. This deal at a 9% cap / $210 PSF Pima U/C for 12.4% cap / $110 PSF - implies 9.3% cap / $190 PSF for the whole portfolio. One I didn't see coming. With this + Kawa / $ONL animal spirits rekindling in the office market I see transaction at a 10% cap rate and just under $200 PSF. 6.5x FFO / 11.2x AFFO on Q1 [----] ann. (but acquiror will cut G&A cost structure). Proposed $ONL deal is @ 11% cap. https://t.co/CMh3GaWznH One I didn't see coming. With this + Kawa / $ONL animal spirits" [X Link](https://x.com/RealAssetsValue/status/1957248430637563908) 2025-08-18T01:09Z [----] followers, [----] engagements "US aggregates pricing h/t locked account. $FRPH" [X Link](https://x.com/RealAssetsValue/status/1967937133559288229) 2025-09-16T13:02Z [----] followers, [----] engagements "$ASLI.L Q3 update: -Property values down 5% main driver price of [--] assets U/C -These [--] ant. to close in Nov. [----] -Other [--] in processes est. close Q4 [----] and Q1 [----] -Major Polish CRE owner acquired 18% interest -I est. trades at 8% disc. to liquidation value 1/" [X Link](https://x.com/RealAssetsValue/status/1982832806083608802) 2025-10-27T15:32Z [----] followers, [---] engagements "This sale implies 3rd party valuation for remainder is [---] which is 6% yield. I est. 187m or 5.5% yield. Share price reflects 10% disc. to NAV and 15% disc. to my liquidation value estimate. With [--] of [--] remaining properties U/O more sale announcements to come. 2/" [X Link](https://x.com/RealAssetsValue/status/1985359603828170872) 2025-11-03T14:53Z [----] followers, [---] engagements "@AdvisorsMidwest @Mr_Neutral_Man @pekwat More thinking they are actually real estate board "people" so they might view their reputation (and thus next board position) being at stake as opposed to their direct financial interest" [X Link](https://x.com/RealAssetsValue/status/1985781467759231312) 2025-11-04T18:49Z [----] followers, [---] engagements "@AdvisorsMidwest @Mr_Neutral_Man @pekwat $WSR is clearly mgmt's golden ticket so they're aren't looking to sell absent a sufficiently and even more golden parachute" [X Link](https://x.com/RealAssetsValue/status/1985781759028367397) 2025-11-04T18:50Z [----] followers, [---] engagements "Wrote up an illiquid nano-cap UK REIT in the last gasps of liquidation that only owns one more very difficult to sell asset. Will Aberdeen get a sale done by the end of the week in time to save their incentive fee" [X Link](https://x.com/RealAssetsValue/status/1993275742072062431) 2025-11-25T11:09Z [----] followers, [----] engagements "In case there was any doubt MCB are for real they just acquired a $575m grocery-anchored retail portfolio MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. https://t.co/LI2M0DtAh4 MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. https://t.co/LI2M0DtAh4" [X Link](https://x.com/RealAssetsValue/status/2009742314969661619) 2026-01-09T21:41Z [----] followers, [----] engagements "@GrandTokamak Have owned these (Blackrocks $CLOA) for the last couple years for floating rate exposure - as short rates fall is there a level of absolute return at which they are no longer interesting in your opinion" [X Link](https://x.com/RealAssetsValue/status/1846175269456949264) 2024-10-15T13:04Z [----] followers, [---] engagements "$WSR took advantage of a rate cut to recast credit facility. Notably: -Term loan + RCF capacity is larger than all debt today -TL refis RCF balance and all other '26 maturities at 5% rate with $75m left over for acquisitions. -With SOFR @ 4.15% incr. cost of debt is 5.5%" [X Link](https://x.com/RealAssetsValue/status/1970115205288939720) 2025-09-22T13:17Z [----] followers, [---] engagements "MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. @jay_21_ Might actually be good for shareholders if Board is between a rock (MCB / Emmett) and a hard place. $15.20 per share + a price bump starting to look like a nice graceful exit Run a process already @jay_21_ Might actually be good for shareholders if Board is between a rock (MCB / Emmett) and a hard place. $15.20 per share + a price bump starting to look like a nice graceful" [X Link](https://x.com/RealAssetsValue/status/2009073326174687640) 2026-01-08T01:23Z [----] followers, [----] engagements "Prompted by post by @PrivateEyeCap I wrote up $FVR: -outparcel net lease RE [---] WALT 1.7% bumps -Small and ignored post-IPO lock-up ended in March -9.5% cap 10.5x cash FFO 25% disc. to NAV -5.5x net debt / EBITDA no maturities until '27 (1yr +1yr ext.) -Insider buying" [X Link](https://x.com/RealAssetsValue/status/1909297154637865469) 2025-04-07T17:28Z [----] followers, [----] engagements "I don't think share recover quickly. Legacy investors from its days as a private REIT continue to convert OP units to common shares which I assume they're liquidating. Will keep a lid on pricing for a while. But portfolio is cheap and delivers a reasonable income return. 5/" [X Link](https://x.com/RealAssetsValue/status/1923388605516448198) 2025-05-16T14:42Z [----] followers, [---] engagements "Update note: Original post: 6/6 https://open.substack.com/pub/realassetsvalue/p/frontview-reit-nyse-fvrr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false https://substack.com/profile/41080885-real-assets-value/note/c-117643519 https://open.substack.com/pub/realassetsvalue/p/frontview-reit-nyse-fvrr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false https://substack.com/profile/41080885-real-assets-value/note/c-117643519" [X Link](https://x.com/RealAssetsValue/status/1923388606846022009) 2025-05-16T14:42Z [----] followers, [---] engagements "@REITweeter @Vinny_Daniel0 This is what I see in terms of a "steady state" range of NAV estimates. They've been buying around an [--] cap and sold a couple of assets at [--] caps (small sample size). I did more on private and public comps @ https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvrr=ogi7p https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvrr=ogi7p" [X Link](https://x.com/RealAssetsValue/status/1935044610008457445) 2025-06-17T18:39Z [----] followers, [--] engagements "$FVR Q2 results were solid. Sold assets at 6.75% cap to acquire at 8.2% cap with longer WALT. Occupancy up bad debt running 25-50 bps. Portfolio "humming". Trades at 9.5% cap and 10x AFFO a 30% discount to my NAV estimate based on 7.5% cap rate / peer average AFFO multiple" [X Link](https://x.com/RealAssetsValue/status/1956367895023226947) 2025-08-15T14:50Z [----] followers, [----] engagements "Full Q2 update: Original write-up: https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvr https://substack.com/profile/41080885-real-assets-value/note/c-145705238 https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvr https://substack.com/profile/41080885-real-assets-value/note/c-145705238" [X Link](https://x.com/RealAssetsValue/status/1956367896650658288) 2025-08-15T14:50Z [----] followers, [---] engagements "$FVR CEO buys $200k of shares at $13.18 roughly doubling his ownership interest. Salary is $750k so small but meaningful buy" [X Link](https://x.com/RealAssetsValue/status/1958268608431165592) 2025-08-20T20:43Z [----] followers, [----] engagements "CEO of $FCPT buying $200k of shares here with the stock down 15% over the past [--] months. Trading at a 6.5% cap / 15x cash FFO here. I think they're the best peer for $FVR which trades at a 9% cap and 11x cash FFO" [X Link](https://x.com/RealAssetsValue/status/1966602361532489936) 2025-09-12T20:38Z [----] followers, [----] engagements "I see 25% disc. to NAV - price at which I estimate acquiror could general low-teens IRR and 10% distribution yield. 15% upside if it trades in line with peers' ( $FCPT $NTST) 13x 2026e AFFO multiple. And I think management is sandbagging the prelim. [----] AFFO guide. 2/" [X Link](https://x.com/RealAssetsValue/status/1991219000907329905) 2025-11-19T18:56Z [----] followers, [---] engagements "BofA on $FVR earnings. -Trades at largest discount to their NAV est. out of the net lease REITs they cover. -They see NAV at $24.75 based on a 5.7% cap rate which I think is very (overly) optimistic. -Have yet 2026e AFFO at low end of management's guidance range. An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/ https://t.co/MIjvQjZlBL An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR" [X Link](https://x.com/RealAssetsValue/status/1991907151930159591) 2025-11-21T16:30Z [----] followers, [----] engagements "$FVR leased their Tricolor property: -Tenant is Avis 10yr term 2.1% rent bumps -$480k rent is 80% recapture of prev. ABR of $600k -6.8% cash cap rate on their acquisition price of $7.1m -Minimal downtime (1 month) Another data point on portfolio quality" [X Link](https://x.com/RealAssetsValue/status/1993433026458763272) 2025-11-25T21:34Z [----] followers, [----] engagements "Full update write up: 2/2 https://realassetsvalue.substack.com/p/investing-journal-frontview-reit https://realassetsvalue.substack.com/p/investing-journal-frontview-reit" [X Link](https://x.com/RealAssetsValue/status/1996632348398694846) 2025-12-04T17:27Z [----] followers, [---] engagements "One I didn't see coming. With this + Kawa / $ONL animal spirits rekindling in the office market I see transaction at a 10% cap rate and just under $200 PSF. 6.5x FFO / 11.2x AFFO on Q1 [----] ann. (but acquiror will cut G&A cost structure). Proposed $ONL deal is @ 11% cap. City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at Approximately $1.1 Billion; JLL advises on the sell side https://t.co/a0WnvEJ51W City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at" [X Link](https://x.com/RealAssetsValue/status/1948372982952268157) 2025-07-24T13:21Z [----] followers, [----] engagements Limited data mode. Full metrics available with subscription: lunarcrush.com/pricing
@RealAssetsValue Real Assets Value
Real Assets Value posts on X about reit, $fvr, debt, in the the most. They currently have [-----] followers and [---] posts still getting attention that total [-----] engagements in the last [--] hours.
Engagements: [-----] #
- [--] Week [------] +6.90%
- [--] Month [------] +94%
- [--] Months [-------] +7.20%
- [--] Year [-------] +14%
Mentions: [--] #
- [--] Month [--] -45%
- [--] Months [---] +15%
- [--] Year [---] +38%
Followers: [-----] #
- [--] Week [-----] +0.21%
- [--] Month [-----] +2.20%
- [--] Months [-----] +11%
- [--] Year [-----] +24%
CreatorRank: [-------] #
Social Influence
Social category influence finance 45% stocks 40% cryptocurrencies 3% countries 2% currencies 2% technology brands 1% agencies 1%
Social topic influence reit #49, $fvr #1, debt #1307, in the 7%, update 6%, $wsr #2, $vre #3, $cpt #11, market 4%, $ntst #5
Top accounts mentioned or mentioned by @mrneutralman @jeffbeckmaddog @thepupil11 @mr_neutral_man @ellliotttb @adamb1438 @hybridvigorish @zgoldenone @advisorsmidwest @rhunterh @privateeyecap @joinyellowbrick @missingmiddle @icmlaoyang @j264b @dontflytoohigh @recoverytrade @fintwitwannabe @pekwat @theweezguy
Top assets mentioned FrontView REIT, Inc. (FVR) Camden Property Trust (CPT) NetSTREIT Corp. (NTST) Rexford Industrial Realty, Inc. (REXR) EPR Properties (EPR) Clipper Realty Inc. Common Stock (CLPR) Elme Communities (ELME) Mid-America Apartment Communities Inc (MAA) Apartment Investment and Management Company (AIV) Easterly Government Properties, Inc. (DEA) COPT Defense Properties (CDP) Community Healthcare Trust Incorporated (CHCT)
Top Social Posts
Top posts by engagements in the last [--] hours
"US retail real estate fundamentals are very supportive going into [----] with availability rates at or near all-time lows. 1/"
X Link 2026-02-06T19:04Z [----] followers, [---] engagements
"$REXR on dispositions - still finding a bid on repositioning assets from developers (at what they view as 4% yield on cost) and users acquiring operating assets at low 4% cap rates vs. their high 5% implied cap rate"
X Link 2026-02-08T18:41Z [----] followers, [----] engagements
"At long last $PCTN.L has hoisted up the for sale sign commencing a strategic review. They have been selling assets to repurchase shares and have been disciplined not raising dilutive equity or making dilutive acquisitions so mgmt and the board deserve credit. 1/ $PCTN.L - small UK REIT sold their largest (by value) office property for a 4.6% NIY / 1% discount to external valuation. Increases (mostly urban) industrial share and proceeds funding continued share buybacks. I est. NAV [----] [----] based on valuer est. Trades at 20% disc. https://t.co/VZyLRIzinK $PCTN.L - small UK REIT sold their"
X Link 2026-01-13T16:43Z [----] followers, [----] engagements
"Took stock of the performance of my listed real estate write-ups in the back half of [----]. Winners: $DRR.U (exit recommended) $FVR $ASLI.L Losers: $API.L (exit recommended) Link: https://open.substack.com/pub/realassetsvalue/p/performance-review-h2-2025utm_campaign=post-expanded-share&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/performance-review-h2-2025utm_campaign=post-expanded-share&utm_medium=web"
X Link 2026-01-21T15:02Z [----] followers, [----] engagements
"Bruce Schanzer / Erez popping up at another small cap REIT. $VRE should definitely run a process. 🚨Erez Asset Management Encouraging $VRE Veris Residential to Explore Options 🚨 Reuters out with a story that Bruce Schanzer is urging the company to put itself up for sale arguing a transaction could reward shareholders with a 70% premium to the real estate investment 🚨Erez Asset Management Encouraging $VRE Veris Residential to Explore Options 🚨 Reuters out with a story that Bruce Schanzer is urging the company to put itself up for sale arguing a transaction could reward shareholders with a"
X Link 2026-02-05T20:59Z [----] followers, [----] engagements
"Limited availability has been holding back net absorption which was weak for much of [----] in aggregate. However demand appears to have rebounded across retail sub-sectors in the 2nd half of the year. 4/"
X Link 2026-02-06T19:04Z [----] followers, [---] engagements
"Feels like retail strip centers - and grocery-anchored in particular - are consensus favorites for "smart money" real estate investors in 2026"
X Link 2026-02-12T14:44Z [----] followers, [----] engagements
"Market smiles on small net lease REIT equity raises - $NTST up after upsized offering 10% of market cap. $19/share is 6.5% implied cap rate on RR Q4 cash NOI & 14.5x LQA / 14x 2026e AFFO. This + TL rate results in a 6.5% WACC vs. acq. at 7.5% cap rates. Accretive but thin"
X Link 2026-02-12T16:45Z [----] followers, [---] engagements
"Retail net lease cap rates are back up to [----] levels and look like they're leveling out. But the 10yr in [----] was 2.5% vs. 4% today so a [---] bp spread today instead of [---] bps back then. Do cap rates need to rise from here to "normalize" if rates don't fall"
X Link 2026-02-13T02:22Z [----] followers, [----] engagements
"@JeffBeckMadDog Management widely regarded as the kings of never creating value for shareholders in the REIT investing community. Even that of Philly I have done zero work on the name so take that as you will"
X Link 2026-02-13T19:07Z [----] followers, [---] engagements
"@AdamB1438 Fundamentals are solid so core buyers comfortable with buying in 5s and getting 7%-8% LT returns. Cap rates in the 5s mean value add guys can make money. Question is when next wave of distressed retailers materializes and start closing stores. Minimal new supply on the horizon"
X Link 2026-02-12T16:47Z [----] followers, [---] engagements
"@Mr_Neutral_Man At $106.50 I see $CPT at a 6.5% cap $255k per unit 15.7x 2026e AFFO multiple. 20% disc. to my $132.35/share NAV est (5.35% cap rate). $REXR at $36.60 is a 6% cap $230 PSF 18.7x 2026e AFFO multiple. 15% disc. to my $43.10/share NAV est (5.15% cap). Getting interesting"
X Link 2026-02-12T18:38Z [----] followers, [---] engagements
"$DRR.U to be acquired by Morgan Properties in an all-cash transaction for $10.80 per share. Transaction value of $354m reflects a 7.2% cap rate and $110k per unit. Probably a portfolio discount to sell this in one go instead of a piecemeal liquidation which I am OK with. 1/"
X Link 2025-08-21T13:26Z [----] followers, 12.9K engagements
"LT rates up from their lows earlier this month but cost of capital for NNN REITs - both big and small - not looking too shabby: $O secures $800m of 5yr debt at 4.4% lower rate than $550m Nov maturity (4.625%). $NTST secures $450m of 6yr debt at 4.6% - 4.9%"
X Link 2025-09-26T13:15Z [----] followers, [----] engagements
"$REXR got very cheap this year on tariff and SoCal industrial market weakness. This went from a 3% position for me (at prices higher than today) in late [----] to 6% at a $37/share basis. At that price was trading 6% cap rate $240 PSF and a 21x AFFO multiple. 1/"
X Link 2025-10-17T14:57Z [----] followers, [----] engagements
"Post-earnings REIT unsecured round up as I am sure we'll see a bunch issued with bond yields not far off their recent lows $MAA (S&P: A-): $400m of 7yr notes at 4.68% effective rate. $EPR (S&P: BBB- but they own lots of movie theaters): $550m of 5yr notes at 4.75% headline rate"
X Link 2025-11-04T01:10Z [----] followers, [----] engagements
"@thepupil11 @Mr_Neutral_Man @missingmiddle And that the OP unitholders who control the entity would block almost any type of M&A due to their tax basis. Would take a very specific type of buyer and transaction (see BSR REIT this year) for it to make sense for them and those buyers don't want everything $CLPR own"
X Link 2025-11-14T13:32Z [----] followers, [---] engagements
"@Mr_Neutral_Man @thepupil11 @missingmiddle If you think M&A is unlikely do you value based on price / AFFO DDM something else instead of discount to NAV / implied cap rate IMO the NAV-based approach to listed RE is inherently reliant on public-private interplay to close gap. Applicable Q to many REITs not just $CLPR"
X Link 2025-11-18T16:28Z [----] followers, [---] engagements
"An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/"
X Link 2025-11-19T18:56Z [----] followers, [----] engagements
"$GTY private placement of $250m of senior unsecured notes 10-year term 5.76% or T+155bps. Small net lease REIT cuspy credit (Fitch BBB-). Buying assets around 8% cap"
X Link 2025-11-20T15:29Z [----] followers, [----] engagements
"$FVR up 5% today on announcing $75m buyback authorization. Yet another example of market inefficiency in these small under-followed REITs. They announced the buyback authorization in Q3 [----] earnings. Looking forward to shares dropping 5% once the ATM program is announced 😂 An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/ https://t.co/MIjvQjZlBL An interesting & creative preferred equity fundraise turned my FrontView"
X Link 2025-11-25T15:24Z [----] followers, [----] engagements
"BofA on $FVR: U/P & $12 price target due to "relative investment spreads to peers". Their AFFO estimates are light IMO. Deploying the $20m of cash on BS at 7.25% cap alone adds $0.05 of AFFO/share hitting 2027e right there. I see path to $1.38 / share run rate next year. 1/"
X Link 2025-12-04T17:27Z [----] followers, [----] engagements
"The Pillarstone saga coming to a close at $WSR - received a $33.4m distribution with another $4m+ to come in [----] healthily topping the $31.6m receivable on the BS. Used to pay down half of drawn RCF to $35m. Also announced sale of older Houston asset price not disclosed. 1/"
X Link 2025-12-15T16:46Z [----] followers, [----] engagements
"$AIV under contract on their Chicago portfolio 2/3 of their stabilized operating NOI for $455m which I estimate is a low 6% cap rate and $300k per unit. Projected to close in Q1 [----] and about $1 per share in net proceeds after release of debt"
X Link 2025-12-16T01:28Z [----] followers, [----] engagements
"@Mr_Neutral_Man Gov. / DC - $DEA $JBGS $CDP Secondary healthcare/MOB: $GMRE $CHCT $SILA Outside of the US: $UTG.L (student housing)"
X Link 2025-12-17T15:32Z [----] followers, [---] engagements
"$NLOP update the other day - $76m of asset sales $5.10 per share distribution coming in Jan. This brings Q4 sales to $110m incl. Thermo Fisher in NC. Sales came in below my value estimates by 12% knocked off $1 per share of my NAV. Mid teens cap rates on leased assets 1/"
X Link 2025-12-23T20:33Z [----] followers, [----] engagements
"$FVR net acquisitions tracking ahead of guidance: -$24m of Q4 net acquisitions (vs. $20m guide) at 7.5% cap. Sold [--] properties [--] vacant / [--] operating 6.8% cap rate. -$26.5m of net acquisitions under contract at 7.25% - 7.50% cap (vs. 7.25% guide) - expect to hit $25m in Q1"
X Link 2026-01-13T01:17Z [----] followers, [---] engagements
"More data on capital available (and cost) for Mexican industrial - Prologis-sponsored Fibra raises $500m of 12yr notes at 5.625%. Call it 150bps over the UST 10yr. Interesting element of the $O / GIC JV partnership announced today - capital flows into Mexico Industrial through BTS developments. https://t.co/fj9qVUe4TH Interesting element of the $O / GIC JV partnership announced today - capital flows into Mexico Industrial through BTS developments. https://t.co/fj9qVUe4TH"
X Link 2026-01-14T19:02Z [----] followers, [----] engagements
"$PLD on SoCal industrial: -See green shoots in qualitative metrics absorption -Class A and inland empire outperforming -Specifically calling out big box inland empire as strong"
X Link 2026-01-21T18:43Z [----] followers, [---] engagements
"Disappointment continues at $ELME with a downward revision of liquidation distributions after missing the initial distribution figure. FWIW the [--] Class B MD / ATL assets they expect to sell imminently are at a 6.6% cap rate"
X Link 2026-01-26T20:12Z [----] followers, [----] engagements
"UK small cap REIT sector shrinkening continues. Life science REIT $LABS.L - which raised money at peak lab RE hype and trough rates getting acquired by British Land for [----] in cash and stock. Meh premium deep 26% discount to valuation. 1/"
X Link 2026-01-29T16:52Z [----] followers, [---] engagements
"$CPT looking to start [----] off with a bang. Anyone want to forecast where this ends up vs. the $1.5bn guide ($415k/unit) [----] units 96% occ. $2850/month rents $88m of annualized NOI (based on YTD [----] as of Q3) up 4% y-on-y. @Mr_Neutral_Man @hybridvigorish @EllliotttB"
X Link 2026-01-29T19:27Z [----] followers, 10.1K engagements
"A pleasant surprise today with Brookfield taking $PKST private at $21 per share. I haven't written about this much recently but has been a top [--] position for me for a couple years (so my IRR headline premium). 1/"
X Link 2026-02-02T19:18Z [----] followers, [----] engagements
"@Mr_Neutral_Man Brookfield (also I will be shocked if we don't find a nice golden parachute in the proxy):"
X Link 2026-02-02T20:40Z [----] followers, [---] engagements
"@hybridvigorish @Mr_Neutral_Man @EllliotttB From the $CPT call today - planning to put 60% of proceeds into sunbelt 1031s remainder for share repurchases. Positive"
X Link 2026-02-06T18:36Z [----] followers, [--] engagements
"@icmlaoyang @hybridvigorish @Mr_Neutral_Man @EllliotttB If you dont have an app that gives access to calls/transcripts like Quartr Tikr etc. they will post the transcript soon: https://investors.camdenliving.com/investors/financials/quarterly-results/default.aspx https://investors.camdenliving.com/investors/financials/quarterly-results/default.aspx"
X Link 2026-02-07T12:11Z [----] followers, [--] engagements
"@zgoldenone I don't think it will be easy or fast to lease up their repositioning / redevelopment projects unless market demand markedly improves but I do think they will slowly and surely chip away. On buybacks already happening"
X Link 2026-02-08T19:40Z [----] followers, [---] engagements
"@Mr_Neutral_Man A terrible REIT market has made me greedy - 20% discount to NAV What is this a discount for ANTS"
X Link 2026-02-12T18:42Z [----] followers, [---] engagements
"@Mr_Neutral_Man But yeah I own a good chunk of $CPT (top [--] position) - maybe it doesn't do amazing this year or next year but it's definitely not expensive"
X Link 2026-02-12T18:43Z [----] followers, [---] engagements
"@jasonmiller15 @AdamB1438 My view is there is a strong cyclical element - i.e. current cap rates are incorporating near-term market rental growth. Non-anchored might actually go for lower cap rate than grocery due to ability to "get at" the market to market sooner Not saying its fully rational"
X Link 2026-02-12T20:45Z [----] followers, [--] engagements
"With SEK 500m of cash SEK 400m of retained cash flow this year and 50% LTV debt they have SEK 1.3bn of dry powder this year after acquiring SEK 500m YTD. At a low 4% cost of debt (Swedish bank margins are 120-140bps) this could drive SEK [----] PFPM / share (+12%) growth. 7/"
X Link 2026-02-13T18:10Z [----] followers, [--] engagements
"Some comments on $FVR from Chilton Capital's monthly must read REIT publication: https://chiltonreit.com/2026/02/01/property-type-round-up-from-reitworld-2025-february-2026/ https://chiltonreit.com/2026/02/01/property-type-round-up-from-reitworld-2025-february-2026/"
X Link 2026-02-03T20:34Z [----] followers, [----] engagements
"@Mr_Neutral_Man It's an interesting question for REITs: [--]. Values should move less than prices and as a discount closes should sell right [--]. But the REIT model means they can enter positive feedback loop at premium to NAV (issue equity buy accretively) [--]. And compounding / taxes"
X Link 2026-02-12T18:47Z [----] followers, [---] engagements
"@JeffBeckMadDog On $VRE Bow Street DID have success in [----] I don't think they should have sold to Kushner (even if bid was funded which is questionable) in [----] as rates had just blown out. The current environment DOES make sense IMO so if Mahbod resists would be a black eye on his rep"
X Link 2026-02-13T19:12Z [----] followers, [---] engagements
"CBRE report: 5/5 https://mktgdocs.cbre.com/2299/0c603f9c-a3d8-42ec-ae4c-f9990997204d-1230206720/Q4_2025_U.S._Retail_Figures.pdf https://mktgdocs.cbre.com/2299/0c603f9c-a3d8-42ec-ae4c-f9990997204d-1230206720/Q4_2025_U.S._Retail_Figures.pdf"
X Link 2026-02-06T19:04Z [----] followers, [---] engagements
"I am not surprised to see Londonmetric is kicking the tires on $PCTN.L whose urban industrial/logistics assets would be a good fit. $LDN.L have traded up to NAV / a slight premium so share deal more attractive. I'd guess Tritax also looking on public side Blackstone on private. At long last $PCTN.L has hoisted up the for sale sign commencing a strategic review. They have been selling assets to repurchase shares and have been disciplined not raising dilutive equity or making dilutive acquisitions so mgmt and the board deserve credit. 1/ https://t.co/dTFWJsCpuK At long last $PCTN.L has hoisted"
X Link 2026-02-11T16:58Z [----] followers, [---] engagements
"Logistea AB reported Q4 results: -profit from property management of SEK [----] per share 70% growth year-on-year following the transformative KMC properties acquisition. -Occupancy 96.9% 9.4yr WALT LfL NOI flat -7.9x net debt / EBITDA 2.6x ICR (up from 2.1x) 48% LTV 1/"
X Link 2026-02-13T18:10Z [----] followers, [---] engagements
"At SEK [--] per share they trade at 13x LQA PFPM before tax and 16x after tax. Implied yield of 7% and SEK [----] / sq m. Trades at a 5% discount to its portfolio value. I think this is an undemanding price for a decent quality business generating good cash flow growth. 8/"
X Link 2026-02-13T18:10Z [----] followers, [---] engagements
"Investing journal write up from June 2025: 9/9 https://open.substack.com/pub/realassetsvalue/p/investing-journal-logistea-abr=ogi7p&utm_campaign=post&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/investing-journal-logistea-abr=ogi7p&utm_campaign=post&utm_medium=web"
X Link 2026-02-13T18:10Z [----] followers, [---] engagements
"@JeffBeckMadDog On $WSR I think the bidding will be healthy if they run a process and I think the price should end up somewhere in the $17 / share range about a 7% cap. They've cleaned up Pillarstone and chunk of the weaker stuff in the portfolio in 2025"
X Link 2026-02-13T19:14Z [----] followers, [---] engagements
"@stressed_assets @JeffBeckMadDog I think net liquidation value could be in the $19 - $20 per share range. https://substack.com/@realassetsvalue/note/c-169813213utm_source=notes-share-action&r=ogi7p https://substack.com/@realassetsvalue/note/c-169813213utm_source=notes-share-action&r=ogi7p"
X Link 2026-02-13T19:48Z [----] followers, [--] engagements
"$VRE Q3 results out yesterday: -Rents & occ. growing NOI down q-on-q (RE taxes) but up YTD. -Closed pending sales sold a dev site used proceeds to delver (now just 10x ND / EBITDA). -Last Jersey City dev site U/C for $75m feels like a weak price. -NAV of $19.30 per share"
X Link 2025-10-24T19:07Z [----] followers, [----] engagements
"Update note: Original write up: 2/ https://open.substack.com/pub/realassetsvalue/p/abrdn-european-logistics-income-plcr=ogi7p&utm_campaign=post&utm_medium=web https://substack.com/profile/41080885-real-assets-value/note/c-170694598r=ogi7p&utm_source=notes-share-action&utm_medium=web https://open.substack.com/pub/realassetsvalue/p/abrdn-european-logistics-income-plcr=ogi7p&utm_campaign=post&utm_medium=web https://substack.com/profile/41080885-real-assets-value/note/c-170694598r=ogi7p&utm_source=notes-share-action&utm_medium=web"
X Link 2025-10-27T15:32Z [----] followers, [---] engagements
"Update note: Original write up: 3/3 https://realassetsvalue.substack.com/p/abrdn-european-logistics-income-plc https://substack.com/@realassetsvalue/note/c-173100357r=ogi7p&utm_source=notes-share-action&utm_medium=web https://realassetsvalue.substack.com/p/abrdn-european-logistics-income-plc https://substack.com/@realassetsvalue/note/c-173100357r=ogi7p&utm_source=notes-share-action&utm_medium=web"
X Link 2025-11-03T14:53Z [----] followers, [---] engagements
"@J264B @Mr_Neutral_Man @AdvisorsMidwest Maybe Im being overly negative but I see more of an $ELME type outcome here rather than a Preferred Apartments or Bluerock Residential Growth"
X Link 2025-11-11T22:10Z [----] followers, [---] engagements
"Find it here: 3/ https://realassetsvalue.substack.com/p/investing-journal-frontview-reit https://realassetsvalue.substack.com/p/investing-journal-frontview-reit"
X Link 2025-11-19T18:56Z [----] followers, [---] engagements
"Find it here: https://open.substack.com/pub/realassetsvalue/p/abrdn-property-income-apilr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true https://open.substack.com/pub/realassetsvalue/p/abrdn-property-income-apilr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true"
X Link 2025-11-25T11:09Z [----] followers, [---] engagements
"@stocksonnets @vanckzhu @Mr_Neutral_Man @rhunterh And REIT investors are so beaten down it trades up on that news as we're just relieved that the distributions will actually be there"
X Link 2025-11-26T15:42Z [----] followers, [---] engagements
"@nbeachny Yeah - good pushback to small MF REITs ( $VRE $HOM.U) is the cap rate spread to peers has closed. But the wrong way $CPT / $UDR / $EQR all at similar prices but are superior biz / balance sheets. I think there's torque to the little leveraged guys but that cuts both ways"
X Link 2025-12-04T18:42Z [----] followers, [---] engagements
"@thepupil11 The first and only time I travelled to Hawaii this past weekend $ALEX gets bought out - REIT masochists tell me where to vacation next"
X Link 2025-12-09T16:16Z [----] followers, [---] engagements
"More worrying to the thesis - announcement indicates no close of Google or Omnicom - the best of the rest - in Q4. Have been in the market for a while. KBR as well albeit that was brought to market later (but at a knock-down price with broker guiding $80m). 2/"
X Link 2025-12-23T20:33Z [----] followers, [---] engagements
"@joecool20250204 Thanks for the kind words. Out of my write ups $VRE / $HOM.U - the small cap MF dogs - are well-positioned IMO. Their issue is leverage is high but manageable and that gives them torque when fundamentals turn. They own portfolios larger investors want so M&A % good"
X Link 2026-01-22T12:35Z [----] followers, [---] engagements
"US real estate debt capital markets continued to improve in Q4 according to CBRE. Their lending momentum index remains at strong levels. 1/"
X Link 2026-02-03T20:50Z [----] followers, [---] engagements
"@EllliotttB @Cashflow_Cowboy The next generation of management*"
X Link 2026-02-04T00:40Z [----] followers, [---] engagements
"@J264B And new core / core-plus looks attractive to LPs from an income perspective as they are based on market cap rates as opposed to legacy core funds which are at appraisal cap rates"
X Link 2026-02-04T18:22Z [----] followers, [--] engagements
"@EllliotttB @jayparsons From the $AVB call today"
X Link 2026-02-05T20:22Z [----] followers, [---] engagements
"@dontflytoohigh @Mr_Neutral_Man @AdamB1438 @thepupil11 @RecoveryTrade @fintwit_wannabe @PrivateEyeCap I don't think so - mostly multi-let even in their office portfolio (definitely in the flex / industrial portfolio). WALT was always low single digits when I owned it (towards the end of its life as a public company)"
X Link 2023-05-22T14:13Z [----] followers, [---] engagements
"@dontflytoohigh @Mr_Neutral_Man @AdamB1438 @thepupil11 @RecoveryTrade @fintwit_wannabe @PrivateEyeCap $LXP has been selling their net lease office $O spun off the office after deal with Vereit into $ONL which was [--] year WALT and has been a train wreck. Not many public buyers of net lease office today but GIC did the JV on assets $PKST sold in 2021"
X Link 2023-05-22T14:14Z [----] followers, [---] engagements
"@rhunterh I had thought that $ONL the $O / VEREIT spin could also be interesting was written up on VIC - some current metrics as food for thought. Trades at a 16% implied cap rate / $80 PSF today. 3x FFO (but have to account for full cycle CAPEX). Selling vacant assets at $40 PSF"
X Link 2023-09-26T13:44Z [----] followers, [----] engagements
"Segro PLC $SGRO.L Q3 trading update out last week: -Leasing slower than last year coming off COVID boost -Occupancy solid but down slightly to 95% -Customer retention still high 80% -Uplifts achieved on renewals / reviews consistent 20% 1/"
X Link 2023-10-23T19:14Z [----] followers, [---] engagements
"Cost of debt capital for European industrial not terrible at least for well-capitalized groups - $SGRO.L issued 500m of 8yr notes at 3.5%. 6x over-subscribed"
X Link 2024-09-18T14:54Z [----] followers, [---] engagements
"@Mr_Neutral_Man @thepupil11 @rhunterh @DailyREITBeat DDR has been in a slo-mo liquidation / reorientation for years as you know spin-offs / sales of $RVI and $STIC have been surprisingly large numbers. Not really M&A deals though. Cedar / $WHLR doesn't feel like it really counts but that wasn't that long ago"
X Link 2024-10-17T17:21Z [----] followers, [---] engagements
"@mtccap Industrial and student accommodation both working through cyclical issues but fundamentally good sectors LT IMO. I own $SGRO.L $HWG.L $PCTN.L and $ESP.L with a little $PCA.L left as it liquidates"
X Link 2024-11-15T02:46Z [----] followers, [---] engagements
"BSR REIT $HOM.U is a small-cap relatively illiquid REIT that owns Texas multifamily properties and is listed on the TSX. Represents an attractive opportunity to benefit from improving fundamentals as supply abates with upside through good M&A / take-private odds 1/"
X Link 2025-07-08T16:18Z [----] followers, [----] engagements
"Looking at NNN REITs $FVR has highest exposure to substantial risk + tenants due to [--] JoAnn's. Looking at "speculative" risk $EPR sticks out due to cinema tenancy and $NNN & $NTST have elevated exposure as well with Advanced Auto Parts a exposure a major driver. 2/2"
X Link 2025-07-23T15:33Z [----] followers, [---] engagements
"$PECO has acquired $280m of properties in the first half of [----] at a 6.7% cap rate ($265 PSF). Interestingly lots of unanchored and shadow-anchored centers in the mix. Sold [--] asset for a 7.8% cap rate / $165 PSF"
X Link 2025-07-25T00:16Z [----] followers, [---] engagements
"Majority of the $CIO Phoenix portfolio sale closed - all assets except Pima Center for $266m. Pima U/C for $30m. This deal at a 9% cap / $210 PSF Pima U/C for 12.4% cap / $110 PSF - implies 9.3% cap / $190 PSF for the whole portfolio. One I didn't see coming. With this + Kawa / $ONL animal spirits rekindling in the office market I see transaction at a 10% cap rate and just under $200 PSF. 6.5x FFO / 11.2x AFFO on Q1 [----] ann. (but acquiror will cut G&A cost structure). Proposed $ONL deal is @ 11% cap. https://t.co/CMh3GaWznH One I didn't see coming. With this + Kawa / $ONL animal spirits"
X Link 2025-08-18T01:09Z [----] followers, [----] engagements
"US aggregates pricing h/t locked account. $FRPH"
X Link 2025-09-16T13:02Z [----] followers, [----] engagements
"$ASLI.L Q3 update: -Property values down 5% main driver price of [--] assets U/C -These [--] ant. to close in Nov. [----] -Other [--] in processes est. close Q4 [----] and Q1 [----] -Major Polish CRE owner acquired 18% interest -I est. trades at 8% disc. to liquidation value 1/"
X Link 2025-10-27T15:32Z [----] followers, [---] engagements
"This sale implies 3rd party valuation for remainder is [---] which is 6% yield. I est. 187m or 5.5% yield. Share price reflects 10% disc. to NAV and 15% disc. to my liquidation value estimate. With [--] of [--] remaining properties U/O more sale announcements to come. 2/"
X Link 2025-11-03T14:53Z [----] followers, [---] engagements
"@AdvisorsMidwest @Mr_Neutral_Man @pekwat More thinking they are actually real estate board "people" so they might view their reputation (and thus next board position) being at stake as opposed to their direct financial interest"
X Link 2025-11-04T18:49Z [----] followers, [---] engagements
"@AdvisorsMidwest @Mr_Neutral_Man @pekwat $WSR is clearly mgmt's golden ticket so they're aren't looking to sell absent a sufficiently and even more golden parachute"
X Link 2025-11-04T18:50Z [----] followers, [---] engagements
"Wrote up an illiquid nano-cap UK REIT in the last gasps of liquidation that only owns one more very difficult to sell asset. Will Aberdeen get a sale done by the end of the week in time to save their incentive fee"
X Link 2025-11-25T11:09Z [----] followers, [----] engagements
"In case there was any doubt MCB are for real they just acquired a $575m grocery-anchored retail portfolio MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. https://t.co/LI2M0DtAh4 MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. https://t.co/LI2M0DtAh4"
X Link 2026-01-09T21:41Z [----] followers, [----] engagements
"@GrandTokamak Have owned these (Blackrocks $CLOA) for the last couple years for floating rate exposure - as short rates fall is there a level of absolute return at which they are no longer interesting in your opinion"
X Link 2024-10-15T13:04Z [----] followers, [---] engagements
"$WSR took advantage of a rate cut to recast credit facility. Notably: -Term loan + RCF capacity is larger than all debt today -TL refis RCF balance and all other '26 maturities at 5% rate with $75m left over for acquisitions. -With SOFR @ 4.15% incr. cost of debt is 5.5%"
X Link 2025-09-22T13:17Z [----] followers, [---] engagements
"MCB Real Estate putting the pressure on $WSR board while extending a carrot indicating they'd consider upping the price. I doubt they'd vote for the Mastandrea regardless however so may be an easy bluff to call. @jay_21_ Might actually be good for shareholders if Board is between a rock (MCB / Emmett) and a hard place. $15.20 per share + a price bump starting to look like a nice graceful exit Run a process already @jay_21_ Might actually be good for shareholders if Board is between a rock (MCB / Emmett) and a hard place. $15.20 per share + a price bump starting to look like a nice graceful"
X Link 2026-01-08T01:23Z [----] followers, [----] engagements
"Prompted by post by @PrivateEyeCap I wrote up $FVR: -outparcel net lease RE [---] WALT 1.7% bumps -Small and ignored post-IPO lock-up ended in March -9.5% cap 10.5x cash FFO 25% disc. to NAV -5.5x net debt / EBITDA no maturities until '27 (1yr +1yr ext.) -Insider buying"
X Link 2025-04-07T17:28Z [----] followers, [----] engagements
"I don't think share recover quickly. Legacy investors from its days as a private REIT continue to convert OP units to common shares which I assume they're liquidating. Will keep a lid on pricing for a while. But portfolio is cheap and delivers a reasonable income return. 5/"
X Link 2025-05-16T14:42Z [----] followers, [---] engagements
"Update note: Original post: 6/6 https://open.substack.com/pub/realassetsvalue/p/frontview-reit-nyse-fvrr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false https://substack.com/profile/41080885-real-assets-value/note/c-117643519 https://open.substack.com/pub/realassetsvalue/p/frontview-reit-nyse-fvrr=ogi7p&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false https://substack.com/profile/41080885-real-assets-value/note/c-117643519"
X Link 2025-05-16T14:42Z [----] followers, [---] engagements
"@REITweeter @Vinny_Daniel0 This is what I see in terms of a "steady state" range of NAV estimates. They've been buying around an [--] cap and sold a couple of assets at [--] caps (small sample size). I did more on private and public comps @ https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvrr=ogi7p https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvrr=ogi7p"
X Link 2025-06-17T18:39Z [----] followers, [--] engagements
"$FVR Q2 results were solid. Sold assets at 6.75% cap to acquire at 8.2% cap with longer WALT. Occupancy up bad debt running 25-50 bps. Portfolio "humming". Trades at 9.5% cap and 10x AFFO a 30% discount to my NAV estimate based on 7.5% cap rate / peer average AFFO multiple"
X Link 2025-08-15T14:50Z [----] followers, [----] engagements
"Full Q2 update: Original write-up: https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvr https://substack.com/profile/41080885-real-assets-value/note/c-145705238 https://realassetsvalue.substack.com/p/frontview-reit-nyse-fvr https://substack.com/profile/41080885-real-assets-value/note/c-145705238"
X Link 2025-08-15T14:50Z [----] followers, [---] engagements
"$FVR CEO buys $200k of shares at $13.18 roughly doubling his ownership interest. Salary is $750k so small but meaningful buy"
X Link 2025-08-20T20:43Z [----] followers, [----] engagements
"CEO of $FCPT buying $200k of shares here with the stock down 15% over the past [--] months. Trading at a 6.5% cap / 15x cash FFO here. I think they're the best peer for $FVR which trades at a 9% cap and 11x cash FFO"
X Link 2025-09-12T20:38Z [----] followers, [----] engagements
"I see 25% disc. to NAV - price at which I estimate acquiror could general low-teens IRR and 10% distribution yield. 15% upside if it trades in line with peers' ( $FCPT $NTST) 13x 2026e AFFO multiple. And I think management is sandbagging the prelim. [----] AFFO guide. 2/"
X Link 2025-11-19T18:56Z [----] followers, [---] engagements
"BofA on $FVR earnings. -Trades at largest discount to their NAV est. out of the net lease REITs they cover. -They see NAV at $24.75 based on a 5.7% cap rate which I think is very (overly) optimistic. -Have yet 2026e AFFO at low end of management's guidance range. An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR quarterly update into a whole post. I think the opportunity could be more attractive today despite shares up 25% since my original write-up. 1/ https://t.co/MIjvQjZlBL An interesting & creative preferred equity fundraise turned my FrontView REIT $FVR"
X Link 2025-11-21T16:30Z [----] followers, [----] engagements
"$FVR leased their Tricolor property: -Tenant is Avis 10yr term 2.1% rent bumps -$480k rent is 80% recapture of prev. ABR of $600k -6.8% cash cap rate on their acquisition price of $7.1m -Minimal downtime (1 month) Another data point on portfolio quality"
X Link 2025-11-25T21:34Z [----] followers, [----] engagements
"Full update write up: 2/2 https://realassetsvalue.substack.com/p/investing-journal-frontview-reit https://realassetsvalue.substack.com/p/investing-journal-frontview-reit"
X Link 2025-12-04T17:27Z [----] followers, [---] engagements
"One I didn't see coming. With this + Kawa / $ONL animal spirits rekindling in the office market I see transaction at a 10% cap rate and just under $200 PSF. 6.5x FFO / 11.2x AFFO on Q1 [----] ann. (but acquiror will cut G&A cost structure). Proposed $ONL deal is @ 11% cap. City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at Approximately $1.1 Billion; JLL advises on the sell side https://t.co/a0WnvEJ51W City Office REIT Enters into Definitive Agreement for Sale at $7.00 per Share of Common Stock in Transaction Valued at"
X Link 2025-07-24T13:21Z [----] followers, [----] engagements
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