Reuben Berman

Commercial real estate, Texas and sunbelt focused. Shallow bay industrial and Multifamily

[Reuben Berman @rberman2000]

@Mr_Neutral_Man “hail mary”

[Reuben Berman @rberman2000]

@Mr_Neutral_Man in theory, yes. unless they spent the $1.28B on 4% caps at the height of the market

[Reuben Berman @rberman2000]

@EllliotttB administrators blame every other factor except themselves

[Reuben Berman @rberman2000]

important data for $COLD as GLPs are considered a factor for lower food demand. according to data below, refrigerated goods have increased demand

[Gary Brecka @thegarybrecka]

BREAKING: GLP-1s ARE CHANGING WHAT PEOPLE BUY AT THE GROCERY STORE.

New McKinsey data shows that just 6 months after starting a GLP-1, spending shifted significantly:

↓ 11.5% chips + savory snacks
↓ 8.5% sweet bakery items
↓ 7.0% cookies
↓ 6.8% soft drinks

Meanwhile:
↑ 1.0% meat snacks
↑ 1.5% fresh produce
↑ 2.5% yogurt

And this may only be the beginning. Roughly 60% of consumers say they actively seek protein, fiber, and nutrient-dense foods.

Read the report here: https://t.co/UPMBpA2sto

[Reuben Berman @rberman2000]

@EllliotttB no carrying costs except for the cost of debt and equity?

[Reuben Berman @rberman2000]

@DiMartinoBooth I would say there is a difference in the bottoming of office occupancy and values vs the enforcement of CMBS defaults. There are many distressed loans out there (in both apartments and office) that lenders are looking the other way on.

[Reuben Berman @rberman2000]

@Mr_Neutral_Man why is it so mispriced other than the fact that it is externally managed instead of internally managed?

[Reuben Berman @rberman2000]

@Mr_Neutral_Man the political climate makes it hard to predict future revenue growth in LA. We are looking at NY and wondering if that is our future.

[Reuben Berman @rberman2000]

@VikingVan100 What is the new price to book ratio after all of these buybacks?

[Reuben Berman @rberman2000]

@Mr_Neutral_Man what is CPT’a implied cap rate now? i remember that it was around 6.5% when the stock was $100

[Reuben Berman @rberman2000]

@Mr_Neutral_Man

[Reuben Berman @rberman2000]

@Mr_Neutral_Man @TheBenSchmark Any thoughts on why $COLD is moving?

[Reuben Berman @rberman2000]

@EllliotttB now do CoStar

[Reuben Berman @rberman2000]

@NuggetCapital Great call. $cold has more room to run. new mgt is making good moves.

[Reuben Berman @rberman2000]

@EllliotttB Yep, we are seeing some of this. 2024 was too early

[Reuben Berman @rberman2000]

@JonLitt he took over as CEO on Sept 2025

[Reuben Berman @rberman2000]

@Mr_Neutral_Man Everyone in finance/investments is in the interest rate business because we are all benchmarking returns against the risk free rate.