“I think, given the complexity and history of Forest City, there are only very few potential buyers out there,” says Paul Adornato, a veteran REIT analyst.
The Toronto-based alternative asset manager said in a statement Tuesday it will acquire Forest City for $25.35 a share in cash.
The executives that saw the biggest median compensation increase last year were CFOs.
Investors in GGP voted in favor of the transaction at a special meeting Thursday in the company’s hometown of Chicago.
A new report from S&P Global Market Intelligence found that every regional mall REIT CEO experienced a total compensation decline in 2017.
The company aims to raise at least $1 billion from a potential sale of trust units backed by at least 15 prime commercial properties.
There doesn’t appear to be any slowdown in the demand for this product type, particularly with the increasing use of technology and the growth of remote working.
Many specialty REITs have seen double-digit FFO growth in 2018 versus the broader REIT market.
After a steep slide early this year, the FTSE NAREIT All Equity REITs Total Return Index has gained as much as 14.7 percent since the end of February.
