Regional Mall REITs Ring Up Solid Quarter

Published Wednesday, October 31, 2007

In spite of lackluster retail sales growth in recent months and a slowing economy, regional mall REITs continued their solid performance in third quarter 2007. With five of the eight regional mall REITs filing their third quarter reports and a sixth, Feldman Mall Properties, reporting its delayed second quarter results, top-echelon players Simon Property Group and Taubman Centers Inc. emerged as the frontrunners, with rising occupancy levels and managements fees, while B-mall operators Pennsylvania Real Estate Investment Trust and Glimcher Realty Trust made headways in improving portfolio metrics. Meanwhile, Macerich Co. posted strong overall results, though it missed ...

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