GLG News by Sears and Kmart Real Estate Experts

As readers of GLG News have long known, SHLD was identified as "circling the drain" as soon as Eddie Lampert bought the company and announced it was due to the $12 to $15 billion of "hidden" real estate value in the Sears portfolio. Gary Balter, senior analyst from Credit Suisse has been enamored of...

REIT stocks have plummeted 30% so far in October, says Jan Morrissey of INVESTMENT NEWS and I have no reason to doubt her. However is this a newsworthy event or something that might be helpful in guiding the investment decisions of GLG clients? Without going into detailed analysis of each type of real...

Although this article deals with the management of SHLD, I have placed it under the REIT category because it is the single most important issue that will be influencing the success of Mall REITs for many years to come. Mr. Lampert is rebuilding his management team from the bottom up rather than from...

WSJ is indicating that GGP is all but dead and buried. I disagree! After closely following this company from its' earliest beginnings, I can attest to their basic conservatism and good business sense. The only exception was when they got caught up in the feeding frenzy and overbid in the auction  for...

The recent Goldman Sachs analysis of the prolonged downturn in commercial real estate is based upon a strict comparison with the 2001 downturn during that recession. Their numbers reveal that the 38 REITs they follow will suffer a total return of NEGATIVE 4.5% Are they for real? What do these young...

If this writer is correct there is very little to worry about for holders of stock in mall and strip shopping center REITs. While I am not an expert in other types of equity REITs, my experience tells me that they generally move in tandem to the shopping center REITs. It is my firm belief that...

I am sure that I am not the only one who thought that the lessons learned from the RTC experience could provide a suitable short cut and timesaving prototype for the requisite documentation to set the stage for this bailout. After reading this article I now realize why I was wrong and I wanted to share...

SHLD reported a 98% drop in net income for the first half of its fiscal year while comp sales drops 7.4%. B of A reduced SHLD's line of credit to $5 million from $1 billion.  On Friday Fitch Ratings downgraded their debt rating.  Last week the rate Sears pays on its 30-day commercial...

Bay Harbour Management and York Capital Management, who acquired the 276 store Steve & Barry's operation presumably to take advantage of their "below market leases" and to show both Steve and Barry, the two young former owners, that they knew more about how to turn their company around than they...

Whenever a troubled shopping center loses an anchor store there are far more repercussions than most hedgefund analysts realize. Steve & Barry's which until recently has been the replacement anchor of choice for troubled malls, is now being seen as the first major anchor failure that could...