Thor Equities Group Chairman, Joe Sitt, Makes Guest Appearance on Bloomberg Markets to Discuss Inflation, Electric Vehicles, and More
New York, NY, April 09, 2024 (GLOBE NEWSWIRE) -- Joe Sitt, Chairman of leading global real estate firm, Thor Equities Group, spoke on Bloomberg Markets on April 9^th to discuss Electreon, the leading provider of wireless charging solutions for electric vehicles; as well as inflation, luxury retail, and opportunities across the evolving real estate market.
On Bloomberg Markets, Joe Sitt was asked about the competition among luxury retailers for properties, which he believes “tend to move cyclically with their stock prices and businesses”. Businesses liquidate assets when stock isn’t performing preferably, and when performing well, "businesses become buyers driven by fear that the next wave of demand will cause private equity companies [like Thor] to take advantage and overcharge for rents for the best spaces”.
Regarding inflation, Mr. Sitt believes that many leaders across different industries are conscious of the “long term potential macro effects” and are “trying to preempt it, and take advantage of inexpensive pricing”. In a bifurcated market, long term inflation will ultimately “benefit assets like real estate”. Government spending combined with deglobalization from world conflict has created infrastructure at risk of hyperinflation down the road, which will benefit real estate and hard assets like gold. When considering the effects of conflict overseas, he believes the USA is contributing to the creation of world conflict with the decision to put 2,000 green beret troops in Taiwanese islands. The decision sends a message that conflict is not over, and with that, comes risk of inflation and again, effects on assets like real estate. Further, he believes the CPI report will shock people with how much it is declining. He believes there are “big opportunities in Europe” especially with the UK stock market being 40% discounted to its peers, for example Aston Martin at 4x EBITDA vs Ferrari at 30x EBITDA. He concluded “real estate across all asset classes are extremely undervalued due to European investors being nonaggressive compared to USA investors looking to jump back in and take advantage of the bottom of pricing”.
Finally, and most remarkably, Joe Sitt discussed electric vehicles, range anxiety, and the Electreon stock which increased 400% since he first mentioned the company on Bloomberg Markets one year prior. Electron, the leading provider of wireless charging solutions and end-to-end electric vehicle charging infrastructure*,* has successfully convinced Toyota and Denso, the largest Tier 1 company that works with all the car makers, to incorporate its technology into every car. Governments across the world are prioritizing electric roads and the company won government issued tenders for electric roads in France, Sweden, Germany, Israel, Norway and China. In addition, two new highways on the German Autobahn & A10 beside Paris will showcase highway charging while driving (wireless charging) to the world. Electreon has accomplished so much in a short time, and is poised for success as the global shift towards electric mobility takes over. Thor became interested in the company due to the real estate aspect of parking lots and the solution to difficulties of individual recharging.
Joe Sitt’s full segment may be found on Bloomberg TV and Thor Equities' YouTube channel.
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*About Thor Equities Group*
Thor Equities is a leader in the development, leasing and management of industrial, laboratory, residential, office, hotel and mixed-use assets in premier locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 20 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
CONTACT: Katie Smith
Thor Equities Group
5514867218
ksmith@Thorequities.com