An Epic mall move, a COVID-19 lawsuit, Los Angeles apartment vacancies, what to do with that stimulus check, and a tale of two healthcare REITs.
In Today’s News
The maker of “Fortnite” has purchased a distressed mall in Cary, North Carolina, for its new headquarters campus.
Why it matters: Epic Games was already a Research Triangle company, but seeing this global player’s commitment to its hometown is nice, and this is a great reuse of a troubled (big) piece of local commercial real estate. Maybe it’s a harbinger of more to come.
A far less positive harbinger is this report of a 70-year-old packing line worker in California who says she got the virus at work and passed it on to her husband at home, and it killed him.
Why it matters: The plaintiff accused her employer of not protecting workers. The effects of the pandemic on businesses run deep and wide, and how this will affect real estate investors will be part of a very big story that’s emerging.
The pandemic has accelerated migration from major metros into more affordable secondary markets, but recent data shows that there has yet to be a significant exodus out of the City of Angels.
Why it matters: This Globest.com report points to how overall trends are just that, overall. Each market is different, and investors need to pay attention to the trees as well as the forest.
Today on Millionacres
For real estate investors, these funds can offer a much-needed boost as we head into the new year. Use them to improve your short-term rental, increase the value of your next flip, or even whittle down that mortgage debt.
Why it matters: They ain’t much, but in the greater scheme of things, every little bit helps, right? Millionacres’ Aly Yale provides some details here on how so.
COVID-19 vaccines are providing a light at the end of the tunnel for several healthcare real estate investment trusts (REITs) that have been facing vacancies in their senior living properties and rent deferments in their medical offices.
Why it matters: Millionacres’ Kevin Vandenboss lays out here how different portfolios make a difference when assessing the investment prospects of companies that on the surface are riding the same wave.
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