We’ve got Mark Rothschild with us in this episode, back for his second appearance. He is Managing Director, Real Estate Analyst at Canaccord Genuity. He has been with the company for 17 years, and has been covering Canadian REITs for even longer.

Mark guides us through Canaccord Genuity’s latest report on Canadian real estate while also providing his thoughts on the increasing interest rates. He tells us some sectors he is excited about and how his company arrives at their real estate valuations.

Topics covered include:

• The compressing of spreads and why cap rates will likely be negatively impacted.
  
• Where Mark thinks values are heading for the rest of the year.
  
• Inflation causing rent to offset higher interest costs.
  
• The large amount of capital out there looking for real estate.
  
• Whether or not Mark’s job has become tougher due to the current environment.
  
• Returns seen in 2021 versus thus far in 2022.
  
• Movements in value that can be seen from just a 0.25% interest rate increase.
  
• Pressure from shareholders and how it has changed over time.
  
• What is possibly being ignored in The Well’s valuation.
  
• How much of all institutional real estate is owned by REITs?
  
• What’s great about investing in real estate versus other sectors.
  
• An asset class that has performed poorly this year that Mark is bullish on.
  
• Grocery-anchored retail and how it has performed.
  
• The amount of vacancy Mark expects to see in the retail market.
  

More about our guest…

Mark Rothschild is an analyst covering the real estate sector at Canaccord Genuity. Previously, Mark served in the same capacity at Genuity Capital Markets. His prior experience includes being part of the real estate and lodging investment banking team at Salomon Smith Barney and performing credit analysis on U.S. REITs at Moody’s Investors Service in New York. Mark has previously been ranked as a top earnings estimator for real estate in the Thomson Reuters StarMine survey, and according to TipRanks, in 2019 was the number two overall stock picker in Canada. He has an MBA from the University of Baltimore.

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