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Recent Posts

Updated Multifamily Cap Rates/Per Door/IRR Ests

Updated Multifamily Cap Rates/Per Door/IRR Ests
Members Public

With the large multifamily REITs having reported, I went ahead and updated my cap rate, per door, IRR estimates as shown below: Methodology/Assumptions: * Cap Rate shown uses current expected 2024e NOI (based on company guidance given over the past two weeks) and deducts 'Property Management Expenses'. * I

Eric J Bokota
P10: Shorted & Distorted

P10: Shorted & Distorted
Members Public

Given the muted market reaction to the short report, it seems most have seen through it but whatever I'll throw my thoughts on the blog just for funzies. The crux of the 'Friendly Bear's' (to be referred to as FB) short report on P10

Eric J Bokota
Congressional Leaders Propose Mass Eviction of Working Families

Congressional Leaders Propose Mass Eviction of Working Families
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Senator Jeff Merkley (Democrat - Oregon) and Representative Adam Smith (Democrat - Washington) have proposed a piece of housing legislation which would inevitably force the eviction of hundreds of thousands of working families in the United States. Dubbed the “End Hedge Fund Control of American Homes Act of 2023”, legislation

Eric J Bokota
Multifamily REITs: Cap rates, Per  Door, Expected 4 year IRR

Multifamily REITs: Cap rates, Per Door, Expected 4 year IRR
Members Public

Thought I'd throw this up here in case people are interested. Methodology/Assumptions: * Cap Rate uses current expected NOI and deducts 'Property Management Expenses'. * Given the wall of supply hitting the sunbelt over the next 12-18 months, but relatively limited new supply in coastal markets, 2024

Eric J Bokota
What's does one do after losing a lot of weight? Buy ALL new clothes!!

What's does one do after losing a lot of weight? Buy ALL new clothes!!
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GLP-1 weigtht loss drugs like Ozempic have been a top story in financial news over the past few weeks wreaking havoc on shares of food and medical device companies. Stock market participants believe major changes are afoot in American consumption patterns and are voting with their wallets. While the verdict

Eric J Bokota
Shopping Center REITs

Shopping Center REITs
Members Public

Broadly speaking, I believe there have been several meaningful positive changes which have occurred over the past several years in the shopping center REIT space which are currently under appreciated by investors. Positive changes include: -Portfolio rationalization (moving up the average household income/density curve) - Below I show the

Eric J Bokota