Real Estate

Jonathan Litt shorts entire office space group

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Activist investor Jonathan Litt doubles down on his office space short

A major activist investor is betting stalled return-to-office plans will stir up more trouble in commercial real estate.

Land and Buildings’ Jonathan Litt has been shorting REITs with high office space exposure for three years, and he has no plans to shift gears.

“If you have no rent growth and your vacancies are going up and you have giant operating expenses to run an office building, you’re going backwards fast,” the firm’s chief investment officer told CNBC’s “Fast Money” on Tuesday.

Litt first warned Wall Street an “existential hurricane” was about to hit the sector in May 2020. Now, he’s saying the “hurricane has landed.”

He’s doubling down on the call — citing spiking interest rates…



Source cnbc.com

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