malach hamovess

Mack-Cali Late to the (Follow-On) Party

CLI's wait of a few weeks after the others sold additional equity was quite fortuitous. It sold at a much more favorable price with either a greater amount of proceeds or far less dilution than had it sold 2-3 weeks ago.

Now we know where all that money "sitting on the sidelines" is going; it's recapitalizing the REITs.

Open Letter to SEC: Wall Street's REIT Bait-and-Switch

good grief!! didn't they get rid of the wall between investment banking and corporate banking just so banks could sell stock to the public to get their loans repaid?

haven't you been paying attention?

The Great REIT Unravelling Begins? Simon Property Group Defaults on Loan

The Source was a uniquely poorly laid out, poorly positioned, poorly tenanted piece of drek in an area overstuffed with shopping.

If Simon is walking away from the property by defaulting on a non-recourse loan, it's to their ultimate credit.

Sooner or later, the idiot who made the loan will be fired, and the holder of the loan will take a lot less than its face for the property.

Real estate investing includes dropping properties; real estate lending includes underwriting for good and bad times - a skill that has long since been forgotten.

Cutting Back Commercial REIT Shorts, Again

it's not really a dilution for simon; they were never worth the 100 per share

the bigger problem that simon showed is that they had to pay 10.75% for 10year corporate paper.

doesn't bode well ~