Episode 294: Real Estate Fundamentals, Supported by GDP and Job Growth, Look Very Favorable: Portfolio Manager
The landscape for real estate fundamentals looks \u201cvery favorable\u201d going forward, supported by GDP and employment growth, according to Lowell Bolken, portfolio manager of the Securian AM Real Asset Income Fund and Real Estate Securities Fund.
\u201cWe think employment will be strong as job openings are still above the actual unemployed population right now,\u201d Bolken told Nareit\u2019s REIT Report.
He noted that in terms of REIT valuations, it\u2019s a mixed picture. However, \u201cwe're very confident where the economy is going in terms of real estate and other sectors\u2026growth is still in the offing.\u201d
Bolken, meanwhile, noted that while inflation might not last longer term, \u201cit's less than transitory.\u201d As a result, Securian is positioning itself for short term inflation by focusing on assets with shorter term leases such as apartments, self-storage, and hotels, while de-emphasizing the net lease sector.