The fact that the REITs are well-positioned to take advantage of this downturn has been talked about for a while, but now the rating agencies are starting to take note, according to a report from CoStar. For this and other stories about the world of retail and retail real estate, follow the links below.
- The New York Post reports that in spite of an improvement in same-store sales, luxury department store Barneys is still posting losses as a result of its $500 million debt load.
- Rating agencies are beginning to favor REITs, according to a CoStar story, because of their easy access to capital.
- Another CoStar story reports that JP Morgan completed the sale of the second multi-borrower CMBS issue of the year. Retail properties accounted for almost 80 percent of the loan pool.
- Limited Brands has agreed to sell its 25 percent stake in the Limited chain to private equity firm Sun Capital Partners.