Suffering from Exposure
Apr 1, 2005 12:00 PM
Federated won't speculate on how many stores might close, but analysts put the figure at somewhere between 50 and 200. Overall, 98 regional malls owned by REITs will have multiple anchors owned by the combined company, according to KeyBanc Capital Markets. Strong centers should have no problem filling the space. Older malls in secondary or tertiary markets may have a harder time.
| Mall Owner | Number Of Malls With Overlap |
|---|---|
| CBL | 1 |
| Forest City | 2 |
| General Growth Properties | 23 |
| Glimcher | 2 |
| Macerich | 14 |
| Mills | 4 |
| Pennsylvania REIT | 3 |
| Simon Property | 33 |
| Taubman | 3 |
| Westfield | 13 |
| Total | 98 |
| Source: KeyBanc Capital Markets | |
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