While there will be some loss of stores in malls, there are stores who are looking to expand as well. Not everyone is doing poorly. I do think we will see some small strips going dark, however the likelyhood that a major mall will be a ghost town is highly unlikely. You might see a few more dark storefronts for a while, you are not going to see enclosed malls going dark. We need to be realistic about what is happening, but we also need to be careful to not buy in to the radical doom and gloom you hear everyday. You don't want to have a self fulfilling prophecy.
General Growth CEO Gets Massive Margin Call [View article]
Michael , you and everyone else at Seeking Alpha continue to make GGP's outlook as grim as possible, and your comment about triggering a memory of Worldcom is totally out of line and irresponsible. I agree with Ga1Dawg that y'all must have short positions in GGP. Maybe you should come clean so at least we know your motivation.
GGP Final Analysis: Fire Sale of Prime Properties [View article]
Reggie, Let's see... 5.1% comp NOI growth, double digit core FFO growth, record occupancy, sales PSF growth, strong leasing results already in 2008.... sure seems the kiss of death to me, and a company that is going to implode? I think I will send that ketchup to you now.
GGP Final Analysis: Fire Sale of Prime Properties [View article]
reggie,
I can't wait for GGP to prove you wrong and make you eat your words. Do you have a short position in GGP or long positions with other REITS? You seem to have made it your personal mission to try and malign GGP. They have never defaulted on a loan, nor have they ever had to sell properties to meet their financial obligationsm, and I don't think they ever will even with the current market conditions. They will be announcing their 4th quarter results next week which I think will start the process of showing just how little you know. Maybe I will send you some ketchup to help you eat those words.
General Growth Properties Part III: The Story Gets Worse [View article]
I think everyone should read the press release sent today by GGP. It tears big holes in Reggie's claims that GGP is having problems. It also referances an article by Mr. Vinocur who is the Editor of Reit Wrap which again says Reggie is way off base and is bordering on gross mis-information. GGP has had a long history of providing market beating returns over the past 10 years. Look at their history and I think you will see the future. Reggie, shame on you for your articles.
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GGP Final Analysis: Fire Sale of Prime Properties [View article]
I can't wait for GGP to prove you wrong and make you eat your words. Do you have a short position in GGP or long positions with other REITS? You seem to have made it your personal mission to try and malign GGP. They have never defaulted on a loan, nor have they ever had to sell properties to meet their financial obligationsm, and I don't think they ever will even with the current market conditions. They will be announcing their 4th quarter results next week which I think will start the process of showing just how little you know. Maybe I will send you some ketchup to help you eat those words.
General Growth Properties Part III: The Story Gets Worse [View article]