- Getty Realty has acquired more than 25 properties in the drive-thru quick service restaurant (QSR) segment in 2025, surpassing previous years' activity.
- The company sees the drive-thru QSR sector as a strategic move to diversify its tenant base and capitalize on macroeconomic trends favoring convenience and affordability.
- Management highlighted the growth momentum in the QSR sector, emphasizing its alignment with their investment thesis focused on consumer convenience.
- This expansion into drive-thru QSRs is supported by the company's relationships and market knowledge, particularly in densely populated regions like Houston.
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- LTC is transforming from a small cap triple net REIT to a larger, more diversified senior housing-focused REIT through the initiation of a RIDEA platform.
- This strategic pivot aims to expand the SHOP portfolio significantly, with investments expected to reach approximately $475 million, representing nearly 20% of the total portfolio.
- Management emphasizes the importance of external growth and external pipeline development to accelerate this transformation.
- Management expressed confidence in the commercial pipeline, noting activity levels and visibility for continued growth.
- They expect to grow commercial revenue more than the overall market, with a focus on main street and small commercial segments.
- The pipeline remains strong, though growth rates are expected to moderate from last year's high levels.
- Market conditions created an excellent window for TRTX to capitalize on widening loan spreads, especially as banks continued their reluctance to engage in direct lending.
- TRTX executed 7 new loans totaling $696 million during the quarter, with a weighted average loan-to-value ratio of 68%.
- The market backdrop allowed TRTX to leverage its dry powder and stable liability structure for attractive risk-adjusted returns.
- Blended cash leasing spreads in Q2 reached 17%, the highest in 5 years.
- Non-option renewal leasing spreads nearly 20% in Q2 and 16% over 12 months.
- Leasing pipeline remains strong with 11 anchor leases in Q2, including Whole Foods and Trader Joe's.
- Portfolio demonstrates significant mark-to-market potential with organic rent growth and embedded escalators of 3.4%.
- Management emphasizes willingness to trade short-term earnings disruption for long-term tenancy upgrades.
- Agree Realty achieved its largest quarterly investment volume since COVID, deploying over $450 million in Q3 2025.
- The company increased its full-year 2025 investment guidance to a range of $1.5 to $1.65 billion, up over 65% from last year.
- The investment included 110 high-quality retail properties across multiple sectors, with a weighted average cap rate of 7.2%.
- The pipeline for development and developer funding platforms exceeds $100 million, indicating strong future growth potential.
- The company’s disciplined underwriting standards and strategic partnerships with leading retailers underpin this aggressive growth.
- Invested over $725 million in H1 2025, more than doubling the previous year's first half.
- Raised full-year investment guidance to $1.4-$1.6 billion, a 58% increase over last year.
- Anticipates accelerating investment in Q3 and Q4, with a pipeline supporting over $100 million in development projects before year-end.
- Focus on expanding the company's market position through diversified, non-speculative ground-up development projects with fixed returns.
Dafinchi