Two big announcements in the retail REIT space last week—Vornado Realty Trust’s filing with the SEC to spin off 81 strip centers and four malls into a separate publicly traded REIT and CBL & Associates Properties’ revelation that it plans to sell 21 of its assets over the next three years—underscore the new growth strategies being adapted by mall REITs in the absence of development and acquisition opportunities. The timing fits nicely with the risi
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