“Just because you’re not seeing bankruptcy filings doesn’t mean there isn’t distress,” says Mark Kronfeld, a managing director with BlackRock.
The retailer was late to embrace online shopping. But it’s now making a bold wager on robotics.
The merged shopping center REIT will have a market cap of $12 billion.
Revenue at the company’s fashion and leather goods unit jumped by 52 percent in the first quarter compared to a year earlier.
The company confirmed it was in discussions to sell seven properties to Brookfield for $479 million.
Retail, lodging/resort and apartment REITs posted the biggest gains in the first quarter.
Roughly one in every 11 stores will close in the next year, according to an analysis by UBS.
Casual restaurants, retailers that secured debt financing among those paying a much greater share of their rent now.
The few merchants looking to sign new leases on one of the world’s most fashionable retail streets are demanding deep discounts.
So far, lenders have been open to loan workouts, but that won’t last forever, market sources warn.