Author Archives: Burland East, CFA

REITs vs. Your Home

Many people don’t have an investment allocation to real estate investment trusts (“REITs”) because they believe they already have “enough” exposure to “real estate” through ownership of their home. REITs and your home are very different asset classes with very different characteristics. REITs invest primarily in commercial real estate, which is any non-residential property used […]
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The Wave of Private Capital Behind Public REITs

Flush with record levels of cash, many private capital real estate managers are buying up publicly traded real estate investment trusts (“REITs”) to take advantage of the gap between public REITs and private real estate valuations.  Historically, commercial real estate in the private market has usually transacted at, or near, fair value (or else the […]
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A Tale of Two Stocks

A tale of two stocks and a tale of two investors that, we believe, demonstrate the sometimes illogical nature of perceptions and how those perceptions can drive valuation. The stocks are BioMed Realty Trust (BMR) and Alexandria Real Estate Equities (ARE). They appear to be the only two companies currently focused on ownership of lab/life […]
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Buy the (P/NAV) Dip

Burl East is a very experienced participant in and student of the real estate industry. As CEO of American Asset Capital Advisers (AACA), he is the sub-adviser for the Altegris long/short real estate strategy, of which REITs are an important part. He has recently written a blog for the AACA website on REITs and how […]
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“The Internet of Everything”

How to make money when your refrigerator orders milk The U.S. Department of Transportation (DOT) wants cars to talk to nearby cars to aid in safety and maybe target traffic congestion.  According to DOT, there are more than 255 million registered vehicles in the U.S.[i] – that’s a lot!  Meanwhile, in the air, a single […]
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