All News

Shopping Center Buyers Eye Parcel Strategies

GlobeSt.com

As distressed buyers collect shopping center assets, look for them to shave off out parcels.

Eventually, a lot of distressed non-grocery anchored shopping centers will start hitting the market.

But the buyers of these centers may not keep them in one piece for long. Instead, in an effort to pay down the debt or execute other strategies, they could sell off the out parcels, according to Jonathan Hipp, principal, U.S. Capital Markets and head of U.S. Net Lease Group at Avison Young.

“That’s a strategy that I think will gain a lot of momentum as some loans start to go to the special servicers and people buy them at a discount,” Hipp says. “One of the strategies will be to try to peel off some of the PADS and pay down the debt. Or existing owners may peel off some of the PADS as opposed to selling the whole center.”

 

Read the full article here

Amanda WillisShopping Center Buyers Eye Parcel Strategies

Related Posts