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Month: June 2020

REITs Bolstered by Stimulus Measures, Functioning Capital Markets, & Broad Array of Financing Options

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Gina Szymanski, portfolio manager and director at AEW Capital Management, an affiliate of Natixis Investment Managers, joined the latest edition of the Nareit REIT Report podcast.

Szymanski discussed some of the differences between the current COVID-19 crisis and the global financial crisis. She pointed to the size and pace of fiscal and monetary stimulus as “the biggest difference by far.”

Simon Ends Merger Agreement with Taubman, Citing COVID-19 Issues

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Simon Property Group, Inc. (NYSE: SPG) said it has terminated its merger agreement with Taubman Centers, Inc. (NYSE: TCO) on the grounds that the pandemic has disproportionately hurt Taubman’s operations.

The proposed merger was first announced in February, when Simon said it had agreed to take a controlling stake in fellow retail real estate REIT Taubman Centers in a cash deal valued at approximately $3.6 billion.