Skip to main content

Financial/Banking

  • CBL sells two Tennessee malls, culminates portfolio initiative

    CBL continued to reduce its credit position with the disposition of mall assets this week and announced the dawning of a new day for the company.   The mall owner and developer closed on the sale of two Tennessee properties for a total of $53.5 million — Foothills Mall in Maryville and College Square in Morristown. Proceeds of the sales, CBL reported, were used to reduce outstanding balances on its lines of credit.  

  • Supermarket chain files Chapter 11

    Struggling Marsh Supermarkets is looking for a buyer, but it doesn’t have all that much time.    The 86-year-old grocery store chain on Thursday filed for Chapter 11 bankruptcy protection, and said it is seeking a buyer for all or part of its business.  The company’s 44 locations will continue normal operations throughout the process.  But the stores will be shuttered if the company does not find a buyer within 60 days.  

  • The Best at Managing Change

    Opportunistic acquirers continue retail’s reinvention, making business good for creative management companies

    Unusual circumstances are forging the best of times for third-party shopping center managers. Rampant store closings, after-effects of the commercial mortgage backed securities crash, and opportunistic buyers are creating opportunities for innovative managers to reinvent properties for their clients.

  • Inland’s Deal Machine Rolls On

    Given the success of this year’s Fastest-Growing Acquirers, it’s understandable to think the process seems simple. Well, it’s not as easy as it looks, warned G. Joseph Cosenza, president of Oak Brook, Ill.-based Inland Real Estate Acquisitions. Quality must meet opportunity and yield, he said.

    The grocery-anchored center remains as strong an investment as ever, Cosenza said. An Inland fund that’s dominated by grocery-anchored projects (approximately 80%) has 95% occupancy. Supermarket renewals are resulting in rent increases of 10% and higher.

  • Teen apparel retailer confirms takeover interest

    Abercrombie & Fitch may sell itself.   The teen apparel chain on Wednesday confirmed it is in preliminary discussions with several parties regarding a potential transaction with the company.   Abercrombie confirmed the news after Reuters reported that the retailer had hired an investment bank, Perella Weinberg Partners, to field takeover interest from other retailers.  

  • Retail Operators on the Ropes

    As Congress reconvened after Easter, retail operators had a tremendous amount at stake. The industry is in an unprecedented state of strife with major legacy brands announcing large-scale closures.

    If that’s not enough, here is another one to consider: Roughly 80,000 retail workers lost their jobs in the past year, a total that is greater than the number of workers in the entire coal industry. Clearly the disruptive impact of the online economy is quickly and permanently taking its toll on traditional retail operators.

  • Real Estate’s 10 under 40

    Every business magazine sports an “X Under 40” list celebrating precocious professionals. But, really, isn’t it almost always youthful drive and optimism that feeds the engine of progress?

    The stories of Chain Store Age’s 2017 list of over-achievers under 40 abound with examples of young people from different disciplines who all discovered retail real estate as the perfect channel for their passions.

  • Sears CEO: ‘The reality is a lot better than the perception’

    The chairman and CEO of Sears Holdings said the use of the word bankruptcy with regards to his company is holding it back.    “Every time people use the word bankruptcy, somebody who reads that doesn't get past that word, Edward Lampert told The Chicago Tribune in a rare interview. “It makes it very unfair for us, and it’s a very uneven playing field for us.”      
X
This ad will auto-close in 10 seconds