Looking at different new investments, an industrial REIT surfaced from my value screens … I am not a huge fan of economic cycle REITs at this point, but the valuation was interesting – MNR
I was primarily interested in a preferred stock MNR/PR/C. But … after looking at their financials and business model a bit closer, this graphic struck me
They have a sizable property distribution on the eastern US seaboard … if i am looking at a 10 yr investment, do i really want to purchase hard physical assets that are on the coast? NO! Climate change risk was a big factor in walking away from this investment.