Thursday, May 4, 2017

Mall REITs Pursue Multiple Strategies in Dealing with Tenant Troubles

Image result for Enclosed mallsPREIT declared that the old business model of malls relying heavily on apparel and accessories tenants is dead. Simon Property Group continued its expansion overseas. General Growth Properties (GGP) made headlines by discussing “strategic alternatives,” and Macerich refined its portfolio by selling off several assets.

Each mall REIT had a different story to tell investors in the early rounds of recent quarterly earnings reports. They all shared a common long-term goal for their businesses, however: a focus on class-A properties as the most efficient way to deliver value to shareholders. Those priorities shone through during earnings calls.. . . more

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