$AVB
![LA is set to BOOM!](/content/images/size/w1378/2021/01/Hollywood.jpeg)
LA is set to BOOM!
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Happy new year - As I’ve mentioned previously, I believe that LA is on the precipice of a large, Hollywood-driven boom (I’m guessing 2H21) as: 1. Working through the backlog of un-produced film & TV from 2020 as COVID shut down production schedules for much of 2020. 2.
![Don't believe everything that you read over and over again](/content/images/size/w1378/2020/12/Downtown-SD.jpg)
Don't believe everything that you read over and over again
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Apartment REIT investors have heard two refrains throughout 2020: 1) California is dead (2) Urban areas are dead. To read the news, the death of CA seems a given -after all we lost not only Joe Rogan but Elon Musk and Oracle. Today after hours we have a sizable counterfactual.
3Q20 updates for EQR/AVB
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EQR and AVB reported weak results. The impact of the pandemic has hit urban areas hardest - causing increases in vacancy, declines in effective rents, and corresponding decreases in NOI. Occupancy @ EQR is ~94%. AVB saw occupancy as low as ~93% in Sept before rebounding to ~94% in October. Coupled
![The prudent sounding verbiage in sell-side reports can lead to terrible investment outcomes](/content/images/size/w1378/2020/09/Blah-Blah.png)
The prudent sounding verbiage in sell-side reports can lead to terrible investment outcomes
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This is in response to Baird's enlightening research piece (Seeking Alpha synopsis here [https://seekingalpha.com/news/3614408-wait-for-rent-growth-to-bottom-on-apartment-reits-baird] ) earlier this month letting us all know to wait for rents to bottom before buying apartment REITs. The wizards at Baird think this is what worked last time. Let me
![The private market for California apartments is Alive & Well](/content/images/size/w1378/2020/09/baybridge-1.png)
The private market for California apartments is Alive & Well
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Quick N Dirty: On 9/14/20, Aimco announced a series of transactions including the formation of a $2.4 bn JV with a passive institutional partner whereby LA/SF apartment properties were sold at a 4.2% cap rate/$592k per unit valuation. This valuation is consistent with what
Why Trump's 'Eviction Moratorium' is a Nothing Burger for the megacity apartment REITs
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BIG Headline -->Minimal Impact
![Avalon Bay(AVB): Multiple Ways to Win](/content/images/size/w1378/2020/08/LA-balc-shot.png)
Avalon Bay(AVB): Multiple Ways to Win
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This article was sent out to our FREE Actionable Investment Idea Newsletter subscribers Friday morning (8/28). To get FREE Actionable Investment Ideas delivered to your Inbox before they appear on this site, be sure to $ubscribe NOW! [https://www.privateeyecapital.com/signup/] It's FREE!! (brought to you
![California is not dead. Not even close!](/content/images/size/w1378/2020/08/SF-Bay.jpg)
California is not dead. Not even close!
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California has some challenges - the government is big. Taxes are high. Covid related shutdowns have stopped film/tv production in LA. Nobody is traveling which has crippled LA's hotels, restaurants, theaters, retail, etc. Things are challenging right now in California. But...there are a few things that