UBS Forcasting 30000 Fewer Store Closures In US Over the Next 5 Years (80000 -> 50000)

This seems pretty bullish for REITs, but they will get hurt by raising rates. Might be worth discussing possibly ways to play this.

[reposting my surface level thoughts from TF]
It depends. Do you think retail sales will outpace interest rate hike? If so the REITs come out on top. Not uncommon for retail tenants to pay adjusted rent based on gross sales. Also need to consider that most of the pandemic relief in real estate has been and will likely continue to be top-down.
We are still far from 2019’s 5.2% [mortgage rate]