realist

[realist @roach_theorist]

@JeffBeckMadDog Had a similar thought - but AIV sold its behemoth assets and other pigs already fortunately. I don’t think we have this risk of pricing collapse in the Florida/Denver land, DC new builds, etc.

[realist @roach_theorist]

@thepupil11 A lot of it will go into real estate in the Bay Area, NYC, ski towns

[realist @roach_theorist]

@realEstateTrent This is what IWG (Regus) is doing, industrious has this but not a ton of locations

[realist @roach_theorist]

@Mr_Neutral_Man @iononrecourse Which of the large caps are trading at a 7% cap?

[realist @roach_theorist]

@EllliotttB To be fair saw a surge in MF rent growth in 2020-23 just hit a wall since then. If you comp it against CPI since 2019 tracks well

[realist @roach_theorist]

@Mr_Neutral_Man @AndrewRangeley @RealAssetsValue Update the model using a static cap rate

[realist @roach_theorist]

@RealAssetsValue Another thing - large majority of the remaining REITs and market cap sub $2B are either office, lodging or externally managed… the easy stuff has been sold

[realist @roach_theorist]

@RealAssetsValue Also keep in mind the reit space has gotten quite consolidated and the bigger cap companies trade well (closer to Nav) and arguably too big to be acquired. Pretty soon will run out of small caps at this rate.

[realist @roach_theorist]

@JeffBeckMadDog Seritage (SRG) seems to be in last inning of liquidation, NLOP

[realist @roach_theorist]

@jayparsons There hasn’t been a single proposal that mentioned forced liquidations - in fact they all imply investors are grandfathered in.

[realist @roach_theorist]

@bobbyfijan Pensions - that number will keep rising as boomers retire, legacy defined benefit plans will bankrupt cities

[realist @roach_theorist]

@drorpoleg Possible that the rich people who want a lot of kids just move to westchester and Greenwich

[realist @roach_theorist]

@kingdomcapadv Any thoughts on ONL?

[realist @roach_theorist]

@DalFornoCapital Take a look at STRS (stratus properties) - tiny real estate company out of Austin/dallas, just announced strategic alternatives, last NAV was $40, stock is $24 and have been buying back shares around here

[realist @roach_theorist]

@marginofdanger Is it within real estate again?

[realist @roach_theorist]

@c_huss Jeez this is is an entire city bloc also… get someone rich to just knock it down and put a park in its place with their name on it

[realist @roach_theorist]

@jayparsons