Real Assets Value

Trying to build wealth and learn something investing in listed real estate

[Real Assets Value @RealAssetsValue]

Wrote up $ELME after they stealth-dropped their 10-K on Friday after the market close. Biggest problem asset (Watergate 600) under contract, trades at 15% - 20% discount to liquidation value.
Link: https://t.co/BHfVNYODZM

[Real Assets Value @RealAssetsValue]

UK logistics transaction comparable - Tritax sells ~£200m portfolio to EQT Exeter at a 5.65% NIY (assuming 6.8% purchase costs). Limited details but very mid not prime locations.

[Real Assets Value @RealAssetsValue]

@RecoveryTrade @JeffBeckMadDog

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog @Mr_Neutral_Man @DavidBrail @robbiehendricks Looks like selling off the bottom 10% of their portfolio so likely at higher cap rates given the markets, probably not accretive to FFO...

[Real Assets Value @RealAssetsValue]

@marketplunger1 One word… Costco. Have easily recouped the membership fee on berry expenditure alone. Like $7 bucks for 2 lbs of strawberries.

[Real Assets Value @RealAssetsValue]

@avikXm Something like 6 years later, I continue to vacillate between whether this fact makes REIT investing more interesting or more likely to be time wasted. Doubly so given where we are in the interest rate cycle and with fears of stagflation on the horizon.

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog Well I cursed it for all of us because I bought some more. Riverside re-trade incoming!

[Real Assets Value @RealAssetsValue]

@kingdomcapadv @JeffBeckMadDog Solid price. Over $300k a unit and looks like a mid 5% cap rate. Unless sales under contract drop out, this is effectively all wrapped up and net liquidation value looks like ~$2.30 per share...

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog Found one I've done no work on! My impression from afar has always been they've bought pretty bottom tier assets at high yields to make things work for the external manager...

[Real Assets Value @RealAssetsValue]

@EllliotttB @CaseyMericle

[Real Assets Value @RealAssetsValue]

@Mr_Neutral_Man Hard to step in front of a potential AI + recession freight train bearing down on office-using jobs but the supply picture is... Striking

[Real Assets Value @RealAssetsValue]

After six years of pain and amidst worries about AI-driven job losses, tech headcount reductions, and the rising specter of a recession - could office fundamentals actually be positioned to lead major RE sectors over the next 12 months?

[Real Assets Value @RealAssetsValue]

@JeffBeckMadDog Illiquidity is real with this one, so no way out if you're wrong...

[Real Assets Value @RealAssetsValue]

Update note: https://t.co/FuhLUUIESw
5/5

[Real Assets Value @RealAssetsValue]

$ASLI.L completed the sale of their Ede property. €23.5m, ~6.4% yield / €590 per sq m. I had valued at €26m so ~10% underperformance.
1/

[Real Assets Value @RealAssetsValue]

If liquidated in 3-6 months results in 15% return, 30% - 60% annualized.
If Den Hoorn sold at 6.5% yield: 9% return / 18% - 36% ann.
Anyone with a better understanding of the sales process / European industrial / REIT liquidations want to talk me out of adding here?
4/

[Real Assets Value @RealAssetsValue]

Call it another 1/3 of a DOGE right out the door - our money in the pockets of Trump's sycophants
https://t.co/x6hCLVuMuj

[Katherine Faulders @KFaulders]

NEWS -- President Trump is expected to drop his $10 billion lawsuit against the Internal Revenue Service in exchange for the creation of a $1.7 billion fund to compensate allies who claim they were wrongfully targeted by the Biden administration, sources tell me @PCCharalambous @alex_mallin https://t.co/tuEUDtJvks

[Real Assets Value @RealAssetsValue]

Iran War has cost ~$25bn (so far), the Defense Department's FY2027 budget request is ~$1.5 TRILLION (+$440bn vs. 2026), and the name-change to Department of War will cost taxpayers ~$50m.
Call it 5, 88, and 0.01 DOGE's respectively.
WH ballroom? ~$400m or 0.1 DOGE's.

[Noah Smith 🐇🇺🇸🇺🇦🇹🇼 @Noahpinion]

DOGE is not about reducing deficits. It is an ideological purge. Whether you like that or not, that's what it actually is!

https://t.co/o8mis9XIo1

[Real Assets Value @RealAssetsValue]

Where are all the VCs, power strivers, and pundits who were hailing how DOGE was going to rebalance the budget, lower the national debt, fund checks cut to taxpayers, etc. etc. etc.?

lol