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Palomar Press Briefing | February 10, 2021

 

 



 INDUSTRY NEWS

February 10, 2021

 

MCDONALD’S PLANS TO OPEN 500 US RESTAURANTS IN 2021


McDonald’s is building smaller, off-premise focused restaurants with limited or no dine-in seating in an effort to make more room for its drive-thru enhancements. There’s a reason the chain is laser-focused on its drive-thru channel – McDonald’s generated about 90% of sales at the drive-thru window during Q2 2020.

 

WHAT JANUARY’S REIT RESULTS TELL US ABOUT THE STATE OF THE MARKET


Across the various subsectors, REITs remain on the trajectories that began in the fourth quarter of 2021 as the industry looks to a post-COVID-19 recovery. This is the first of what will be a monthly feature where WMRE sits down with the experts from Nareit to get a first look at breaking down the previous month’s REIT returns.

 

STRIP CENTER REITS POISED FOR POST PANDEMIC GROWTH


High-quality strip centers well positioned to weather both secular trends and COVID-19 pressure will thrive in the new normal of 2021, according to a new analysis by BTIG Research, which shows that the sector is still trading at a 27% discount to its REIT peer group.

 

REITS START YEAR WITH FLAT PERFORMANCE IN JANUARY


U.S. REIT returns were virtually flat in January, as the FTSE Nareit Equity REITs Index recorded a gain of 0/1 percent. The S&P 500 Index fell 1.1 percent in the month. Most property sectors recorded losses in the first month of the year, but the struggling regional mall sector rose 11.6 percent in January.

 

US COMMERCIAL, MULTIFAMILY CONSTRUCTION STARTS DOWN 20 PERCENT IN 2020, SAYS DODGE DATA


The value of commercial and multifamily construction starts in 2020 tumbled 20 percent to end the year at $193.4 billion, according to Dodge Data & Analytics. Within the top 20 metropolitan areas that the Hamilton-based research firm tracks, the fall was more severe as that group’s starts fell by 23 percent in value.

 

REITS HAD ACROSS-THE-BOARD GAINS LAST WEEK


The FTSE Nareit All Equity REITs index posted a total return of 3.3% in the week ended Feb 5. All property sectors rose, led by a 9.5% return for timber mREITs and 6.6% for lodging/resorts. Both home financing and commercial REITs rose as well, with a 7.1% gain for home financing and 4.9% for commercial mREITs.

 

BELK’S PLANS FOR BANKRUPTCY INCLUDE ONE-DAY REORGANIZATION


Belk has released its plans for its Chapter 11 bankruptcy filing and reorganization. The department store retailer expects to file for Chapter 11 on Feb. 24, with the confirmation hearing to approve the restructuring to be held on the same day, at 2 p.m. (Central Time).

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