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Palomar Press Briefing | December 29, 2021



 INDUSTRY NEWS

 

December 29, 2021
BOOMING U.S. ECONOMY RIPPLES WORLD-WIDE

A booming U.S. economy is rippling around the world, leaving global supply chains struggling to keep up and pushing up prices. The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies.

ANNOUNCED STORE CLOSINGS IN 2021 APPROACH AN ALL-TIME LOW

Despite rising cases of breakthrough coronavirus infections and the resulting uncertainty over the efficacy of current vaccines against variants, the retail property market shows impressive signs of recovery at year-end. Retail sales have moved well above pre-pandemic levels for months.

2021 CMBS DELINQUENCY RATE

The Trepp CMBS delinquency rate dropped again in November, although the rate of decline slowed. After two huge increases in May and June 2020, the rate has now fallen for 17 consecutive months. The CMBS delinquency rate in November was 4.4 percent, a drop of 23 basis points from the October number.

REITS: 2021 IN REVIEW AND WHAT’S AHEAD FOR 2022

Despite the challenges of COVID-19, 2021 has been a successful year for REITs and REIT investors as hard-hit sectors have recovered from 2020 and the digital economy sectors have continues to thrive. As the calendar flips to 2022, the world will have endured nearly two years of COVID-19.

NRF: CORE RETAIL SALES UP 14.8% YOY IN NOVEMBER

The 2021 holiday season is in the home stretch for record spending despite inflation, supply chain disruptions and COVID-19. Core retail sales November were unchanged from October, but were up 14.8% year-over-year, said the National Retail Federation, whose calculation excludes auto dealers, gasoline stations and restaurants.

RETAIL PROPERTY SECTOR POISED FOR SIGNIFICANT ACTIVITY THROUGH 2022

The most coveted retail asset is by far grocery-anchored centers as the risk-adjusted returns warrant attention. The retail sector continues to experience bullish investors as it has proven to be a strong asset class overall.

REITS BLAST THROUGH PREVIOUS MONTHLY FUNDRAISING RECORD

Real estate investment trusts, particularly private equity giant Blackstone Group, are benefitting hugely from the runup in property prices in the second half of the year with investors flooding public, nontraded REITs with record amounts of capital for acquisitions and lending.

 

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