`

Simon To Endure Mall Downturn, Times Says

September 12, 2007
Indianapolis-based Simon Property Group is positioned to weather a looming downturn in values of shopping malls, according to The New York Times.

The real estate investment trust, the nation's largest owner of shopping malls, is concentrated in choice regional malls whose values are expected to hold up in the face of deteriorating credit markets, the newspapers said.

Strip malls and other less-desirable mall locations are seeing vacancy rates rise and their values fall.

Values are slipping because many acquisitions were financed largely with debt. Many lenders and other financiers have become spooked by the implosion of sub-prime house mortgages.
Source: XMLFULL/XMLFull4138.xml
ADVERTISEMENT

Recent Articles by IBJ Staff

Comments powered by Disqus