Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
October 16, 2009
Asian Reits rebound after tough times | www.ft.com
Foreigners fleeing Japanese REIT market or just being kicked out?
The Jury Is Still Out On General Growth
October 8, 2009
General Growth's Cap RatesEstimates Are Getting Interesting | seekingalpha.com
As a result of a Goldman Sachs presentation in late September which featured a close comparison to Simon Properties implies cap rate of 7%, the author is stronglyugly suggesting that GGP is starting to look like a bargain.
A Blight On the Taubman REIT's Glamorous Image
September 30, 2009
Taubman May Turn Over Atlantic City Mall To Lender | blog.retailtrafficmag.com
Taubman Co. is generally considered to be among the "best and brightest" of Mall REITS. If they are acknowledging serious problems with some of their properties, what must this portend for other REITs that have been assembled with far less dominant locations and/or retailers?
September 19, 2009
Buyout Fund Contemplates a REIT Turn | online.wsj.com
Mr. Baker, CEO of NRDC, (the company who showed such bargain hunting skills when they paid top dollar for the now defunct Linen'n Things and the rapidly declining Lord & TTaylor) plans to start a new REIT. Does anyone think he can really do a better job of buying distressed shopping centers than the...
September 10, 2009
New frugality is the new normal, by necessity | www.wtop.com
Bob Kanter's careful analysis of this article did not mention the huge backlog of previously announced department store closings which will undoubtedly have a "domino" effect on the FFO of all major mall REITs.
September 10, 2009
Oaktree may court New City Creditors after Lone Star Failure. | www.bloomberg.com
What exactly lies behind LoneStar’s second failure to secure Japan’s bankrupt REIT? Totally different ways of doing business and, perhaps, lack of local knowledge .
Mall Landlords and the Aspirations of Forever 21
September 4, 2009
Forever 21 Announces Six New Stores at GGP Malls; Retailer Continues to Backfill Vacant Department Stores | www.costar.com
Forever 21 is opening in six quality General Growth Properties regional malls in 2010. The total size of these units is nearly 600,000 square feet, averaging almost 100,000 sq. ft. per unit. This is a dramatic shift upwards for Forever 21 in terms of their store sizes. Forever 21 has historically...
August 25, 2009
Washed Out | online.barrons.com
Mr. Laing, the Barron's reporter who has previously been a major Eddie Lampert fan, (he estimated the "breakup value" of SHLD @ $300.00 per share in 10/22/07) has finally had the courage to provide a detailed account of why King Eddie has no clothes. Although he is correct in most respects, in theareas...
...So This Makes REITs Great Investments?
August 18, 2009
Maguire Discloses Impending Defaults | www.globest.com
Maguire Properties announces defaults, what are the implications?
From The Folks Who Brought You AAA Rated Mortgage CDOs
July 18, 2009
Gray Clouds Persist for Equity REITs Despite Rays of Sunshine | www.pr-inside.com
The credit rating agencies have not distinguished themselves in this bust. The problem might have something to do with the fact that credit is only part of the question when it comes to real estate. This, in turn, may have something to do with the prior success of asset valuation in mortgage risk management. If...
Excess money is on the sidelines for commercial real estate
November 20, 2009
Is This Mr. Lampert's 8th or 9th Life?
November 19, 2009
A Happy Thanksgiving for Las Vegas
November 18, 2009
Current Construction Activities in FL
November 16, 2009
Commercial Real Estate Impact on Economy Understated
November 16, 2009
www.theglobeandmail.com
www.wtop.com
retailtrafficmag.com
Commercial Real Estate Debt Won't Be the Next Shoe to Drop, Economists Say
www.wtop.com
www.washingtonpost.com