wobatus

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

Since the morning this article was published, SPG is up 56%. KIM, which i suggested (I said I wouldn't buy GGP, now bankrupt), is up 67%.

Of course, the story isn't over. More retail bankruptcies to come. But, KIM raised equity and was able to do some debt deals, the sky hasn't fallen in.

Indeed, GGP remains cash flow able to service. It just couldn't roll in this market. Ackman is providing DiP financing.

And KIM is down about 50% from the beginning of the year. I took some off the table in the early january bounce.

Long term, KIM will be in very good position, i'd say. The capital markets nearly collapsed. Some benefited greatly from that.

Later.

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

i figured kim might be a decent bet. shorty was covering his bets, not reloading. maybe now they reload. peace out, all my negative recommenders. :)


On Mar 31 07:27 AM wobatus wrote:

> online.wsj.com/article...;amp;mod=yahoo_hs
>
>
> I'm a bankruptcy lawyer, btw. This article gives you the picture
> of what is happening. Not that I'd buy General Growth. KIM may
> be a good gamble.

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

How's the great unraveling going? I warned ya. This was written for folks ready to get out of their shorts. Malach knows what's goin' on.


On Mar 31 07:22 AM wobatus wrote:

> good point malach. tyler is just shillin'.

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

online.wsj.com/article...;mod=yahoo_hs

I'm a bankruptcy lawyer, btw. This article gives you the picture of what is happening. Not that I'd buy General Growth. KIM may be a good gamble.

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

good point malach. tyler is just shillin'.