Industry insiders have known about it for a while, but this week the Royal Bank of Scotland revealed the exact details of its multi-borrower CMBS deal, the first of its kind since 2007. Meanwhile, in the wake of strong same-store sales growth in March, Mickey Drexler, head of J.Crew and former top level executive with the Gap, cautioned that March numbers don't mean consumer demand is back to pre-recession levels. For this and other stories about retail and retail real estate, follow the links below.
- Reuters released details of RBS' $309 million CMBS offering.
- DLC Realty Trust has filed papers for a $575 million IPO.
- Retail sales rose 1.6 percent in March, according to Commerce Department figures.
- J.Crew CEO Mickey Drexler has told CNBC that March's strong same-store sales figures were a result of fortunate timing rather than a comeback in consumer demand.
- JoS A. Bank plans to launch a factory store rollout, with five stores in 2010, reports EON.
- The Chicago Tribune reports that the Block 37 project might end up without a movie theater as no agreement has been reached on the tenant allowance.