Target’s new store in Katy, Texas, covers almost 150,000 sq. ft., compared with the company average of about 130,000. The backroom space devoted to handling online orders for same-day pickup is five times as large as at stores of a similar size.
While Seritage assets are sure to create investor interest, a cloudy economic outlook and tighter financing availability are bound to be major factors in negotiations, market observers say.
Andrea Gift Allan will focus on expanding Pretium’s portfolio of rental homes that are leased to tenants who receive assistance through the federal government’s housing choice voucher program.
Fearful of shortages, retailers including Gap Inc. and Nike Inc. ordered extra and did so earlier than usual, but a combination of poor forecasting and inflation-stung shoppers created massive gluts.
For Equity Residential’s $2.5 billion backup line of credit known as a revolver, lenders have historically treated the process like a formality or an administrative task, Chief Financial Officer Robert Garechana said in an interview. This time...
By assuming existing loans, investors can mitigate the risk from rising interest rates and ultimately underwrite a greater leveraged return, market participants say.
