Tags: commercial | real | estate

Cramer: Commercial Real Estate Doing Fine

By Dan Weil   |   Thursday, 06 Aug 2009 10:16 AM

CNBC “Mad Money” host Jim Cramer takes issue with the view that commercial real estate is headed for trouble.

In an appearance on the CNBC show “Stop Trading,” Cramer noted that the major commercial REITs are doing quite fine, thank you, despite the negative outlook for the sector.

“I have Fed(eral) Realty, the best mall play. It’s up huge,” Cramer says.

“How about Boston Properties, your friend Mort Zuckerman? The stock’s up huge. How about Brandywine (Realty)? Off a giant secondary, it’s up gigantically.”

So, “What the heck are we talking about?” Cramer asks.

“This market is on fire. I’m tired of hearing about the bears saying the next big down leg is commercial (real estate). This is the heart of commercial.”

He advises investors to just “focus on the facts.”

Cramer also disagrees with what the media is saying about IPOs. “The papers have said over and over again that’s not going to happen,” he says.

“I have a number of friends in private equity. … There are so many new deals in the pipeline that are about to be announced. The whole ‘no more deals thing’ just doesn’t jibe with the facts.”

Jay Leupp, senior portfolio manager of the Grubb & Ellis AGA Realty Income Fund, tells Fortune magazine that given the recent volatility in REITS, “it's best to buy on down days.”

He adds that, “Track a portfolio of REITs you like and … catch them after they've come down from a high point."

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CNBC “Mad Money” host Jim Cramer takes issue with the view that commercial real estate is headed for trouble.In an appearance on the CNBC show “Stop Trading,” Cramer noted that the major commercial REITs are doing quite fine, thank you, despite the negative outlook for the...
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2009-16-06
 

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