🤪Malls, Malls, Malls (Long Eccentric High-AF CEOs)🤪
Things continue to get worse for certain players in the mall REIT space.
Mall REIT Q3 earnings season begins with $WPG:
For Tier 1 enclosed malls: SS NOI -8.8% in Q3, occupancy down 330bp yoy, occupancy cost -90bp to 11.2% and TTM leasing spreads -7.6% (lower rents)
>>> Looking forward to Simon & CBL next week— Catie McKee (@Catie1130) October 24, 2019
On…