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$AVB

LA is set to BOOM!

LA is set to BOOM!
Members Public

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: Working through the backlog of un-produced film & TV from 2020 as COVID shut down production schedules for much of 2020.More importantly,

Eric J Bokota
$ESS
Don't believe everything that you read over and over again

Don't believe everything that you read over and over again
Members Public

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.

Eric J Bokota
$AVB

3Q20 updates for EQR/AVB
Members Public

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

Eric J Bokota
$AVB
The prudent sounding verbiage in sell-side reports can lead to terrible investment outcomes

The prudent sounding verbiage in sell-side reports can lead to terrible investment outcomes
Members Public

This is in response to Baird's enlightening research piece (Seeking Alpha synopsis here) 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 tell you - things are different. Why

Eric J Bokota
$ESS
The private market for California apartments is Alive & Well

The private market for California apartments is Alive & Well
Members Public

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

Eric J Bokota
$AVB
Why Trump's 'Eviction Moratorium' is a Nothing Burger for the megacity apartment REITs

Why Trump's 'Eviction Moratorium' is a Nothing Burger for the megacity apartment REITs
Members Public

BIG Headline -->Minimal Impact

Eric J Bokota
$AVB
Avalon Bay(AVB): Multiple Ways to Win

Avalon Bay(AVB): Multiple Ways to Win
Members Public

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! It's FREE!! (brought to you by the shameless self promotion team at

Eric J Bokota
$AVB
California is not dead. Not even close!

California is not dead. Not even close!
Members Public

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 are super

Eric J Bokota
$EQR