Vision Capital Corporation’s Post

Yesterday, Vision's Andrew Moffs, Senior Vice President, Portfolio Manager was the featured guest on BNN Bloomberg's Market Call. Andrew addressed investor inquiries on the broad spectrum of publicly-traded real estate securities, providing a nuanced perspective on forward-looking operating fundamentals. Andrew’s top picks included: First Capital REIT (TSX: FCR.UN): A high-quality grocery-anchored retail portfolio with a robust pipeline of incremental development density, currently undervalued and positioned to deliver strong returns. Chartwell Retirement Residences (TSX: CSH.UN): Canada’s leading senior housing provider experiencing strong occupancy growth and capitalizing on accretive external acquisitions. Empire State Realty Trust (NYSE: ESRT): An office portfolio concentrated in the prime New York City submarket, strategically positioned to capture leasing gains. 

Interesting (and encouraging) perspective from the leaders of one of the biggest (if not biggest) global real estate investors….

Nadeem makes a good point on how real estate is typically priced, by looking backwards at comparable sales. In an environment where transaction volumes are low that makes it challenging to understand value. Keeping a close pulse on the market is key in these times to see the green shoots of transactions and be on the leading edge vs. following the heard.

Commercial real estate sentiment broken down by global player Blackstone… While we continue to see negative headlines on office and other commercial real estate investment opportunities, when the tide changes … it could be then be too late. Companies like Blackstone and other large groups are taking note … and action. While investment firms like Blackstone typically play in the large scale A-Class asset categories, I feel picture this is still applicable to smaller local market investor types as well. In the Metro Vancouver area, we are slowly seeing buyer sentiment change, with many still holding, however market and tour activity is steadily improving.  #cre

When it comes to commercial real estate, we believe the reality on the ground differs from the headlines. Cost of capital is coming down, spreads are tightening and the availability of debt is increasing. We believe the bad news you’re reading about is already priced into asset values, which are actually bottoming – creating real opportunity for us to continue to deploy capital. More from Nadeem Meghji’s conversation with CNBC:

Insightful post from Blackstone, a leader in real estate investments. Looking outside the mainstream news you may see constant activity in the sector. The main point made here though from Nadeem Meghi is that when you may be waiting for the ideal time, you'll have missed it when it happens. #realestate #commercialrealestate @investmentsales

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Is it too many metrics or an over reliance on certain metrics creating a disconnect with capital markets? We need to emphasise the importance of earnings, cash returns and dividends as we enter the new cycle. Looking forward to discuss all this and more with Tim Leckie, CFA, Michael Burt and Elizabeth Blaise. Panmure Gordon Unite Students MERCIALYS Bloomberg Intelligence EPRA (European Public Real Estate Association)

Our 2024 #GlobalOutlook is LIVE! With monetary conditions easing and investment liquidity improving, the global #realestate market is reaching a turning point. Read our research publication to explore why 2024 represents a compelling entry point for global real estate across the risk spectrum. https://lnkd.in/eHxjyRyp

Blackstone, a leading global investment firm, has been actively engaging in the office building market, viewing it as a "deployment opportunity." Over the past six months, they have invested approximately $20 billion globally in office buildings. This strategy indicates their confidence in the sector's resilience and potential for long-term returns despite the challenges posed by the pandemic and changing work habits. The firm's approach highlights a strategic move to capitalize on current market conditions, leveraging their extensive resources to acquire prime office properties that may be undervalued or ripe for redevelopment. #economy #realestate #office #siliconvalley #CNBC #commercialrealestate