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Palomar Press Briefing | April 28, 2021



 

 

 INDUSTRY NEWS

 

 

 

April 28, 2021

 

 

 

 

NONTRADED REITS RAISE $2.3B IN MARCH


Nontraded REITs raised $2.253 billion in March, just short of their pre-pandemic record monthly high, and marketing their first month above the $2 billion mark since the pandemic began, reported Robert A Stranger & Co. First-quarter 2021 fundraising totals $5.058 billion, up from $4.2 billion in fourth-quarter 2020.

 

 

U.S. CONSUMER CONFIDENCE SOARS TO 14-MONTH HIGH; HOUSE PRICES ACCELERATE


U.S. consumer confidence jumped to a 14-month high in April as increased vaccinations against COVID-19 and additional fiscal stimulus allowed for more services businesses to reopen, boosting demand and hiring by companies. 

 

 

HOME COOKING, BOOZE DEMAND FIRE UP GLOBAL GROCERY SALES IN 2020


The global grocery sector grew a record 10% in 2020, industry data showed on Wednesday, as people stuck at home under COVID-19 restrictions cooked, baked and drank more. Market researcher Kantar said everything from canned meat and beer to sugar and bleaches flew off the shelves. 

 

 

2021 EMPLOYMENT PICTURE


The total number of employed people from March 2020 to March 2021 decreased by 3.0 percent (4,674,000 people), while the total of unemployed people increased by 34.4 percent (2,535,000 people). Year-over-year, the largest difference for employment was in the Service occupations with a decrease of 8.4 percent. 

 

 

REIT M&AS POISED FOR POST-PANDEMIC BOUNCE BACK


Until the coronavirus pandemic hit, REITs had a good run of buying each other after the Great Recession, along with portfolio acquisitions and other kinds of deals that tended to bulk up the size of their investment portfolios. The trend peaked in 2018 with $78.3B in deals, a total pumped up by Brookfield’s acquisitions of GGP and Forest City Realty Trust. 

 

 

YELP DATA SHOWS MORE THAN HALF MILLION NEW BUSINESSES OPENED IN THE PAST YEAR


More than 500,000 new businesses opened across the United States in the past year, new data from Yelp showed, as the economy recovered from the depths of the Covid pandemic. Yelp saw 516,754 new business openings from April 1, 2020, through March 31.

 

 

STUDY: AMAZON TO OVERTAKE WALMART AS LARGEST U.S. RETAILER BY 2025; KROGER #3


Amazon is on track to become the largest retailer in the United States within the next four years, followed by Walmart and Kroger. Amazon gross merchandise value sales will reach $631.6 billion by 2025, representing a compound annual growth rate of 14% between 2020 and 2025.

 

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