Besides having a solid management team and a clear business model, and stellar execution, here's another reason I think HIW is a great company to own long term.
They adapt to the market. HIW has been busily selling assets in the latest real estate bull market that has delivered record volume at record prices in The Triangle. As Ole Warren Buffett says you want to buy when everyone else is trying to sell and sell when everyone is trying to buy.
Now that the market appears to be swinging more in favor of sellers, HIW is switching from a net seller of assets to a development model. This will position them well to lease and manage high quality properties over the next 5-7 year cycle.
Nice Job.
Highwoods Delays Sale of Winston-Salem Assets - CoStar Group
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment