DEI. The thing with DEI, unlike the others, is that DEI is land-constrained, being in Honolulu and Los Angeles.
I like Austin, invest there too (holding BDN, et. al. also), but that area has lots of land to develop. I assume same for several other cities - Raleigh, Nashville. Maybe not Philly or DC though. (?) You look at homebuilder companies and they are going to the sunbelt and competing
DEI being dominant "one of the largest owners and operators of high-quality office and multifamily properties", they likely have some control over the market. You will not see competitors easily rush in and build. There's just not much land that has not already been developed. That is why at current price I like DEI. You may like sunbelt better than DEI's Los Angeles or Honolulu. We do see that people are leaving these high-cost areas. Otoh, there seem to be enough people who are staying in LA, imo. Over the next few years, property such as DEI's should move up in value. And meanwhile, a decent dividend while waiting. For me, I'm more confident of this than I am of the other reits you and I are holding. |
