(04-02-2020, 02:36 PM)EricL Wrote:(04-02-2020, 02:32 PM)fenders53 Wrote: Another well pumped "SWAN" from S.A. There has to be some value in those SPG assets at some point but who knows where today?
The problem is, there's a difference between the value in the assets on the books, and the value of the assets in real life.
Brick & mortar retail & department stores were in a heap of trouble already before this pandemic hit, and are in much worse shape now.
How do you value those assets?
No idea and I'm not buying a stock because I want to invest in real estate liquidation anyway. SPG isn't going away, but investors are going to lose a lot of money. The pandemic is going to change the brick and mortar landscape some.
While we are chatting about shopping centers. Strip malls that look a lot like Tanger do very well where I live, but they are in town in the high traffic areas. The newer malls do reasonably well too, but they can't keep an anchor department store alive.