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Fitch: More M&A, RE Sales in Retail

The retail team at Fitch Ratings Inc. predicts continued merger and acquisition, leveraged buyout and real estate sales and strategy activity in 2007, all in what it describes as a challenging operating environment for retailers. That could be good news for sale-leaseback and net lease investors, a number of whom have been the buy-side beneficiaries of corporate deal-driven real estate transactions.

By Michelle Napoli | Updated on December 05, 2006

Michelle Napoli is editor of Net Lease forum, from which this article is excerpted.

New York City—The retail team at Fitch Ratings Inc. predicts continued merger and acquisition, leveraged buyout and real estate sales and strategy activity in 2007, all in what it describes as a challenging operating environment for retailers. That could be good news for sale-leaseback and net lease investors, a number of whom have been the buy-side beneficiaries of corporate deal-driven real estate transactions.

Potential sellers of real estate next year include Boise, ID-based Albertsons LLC and Rite Aid Corp. of Camp Hill, PA, Fitch anaylsts say. On the other hand, some retailers are expanding and could be buying, such as J.C. Penney Co. Inc. of Plano, TX, Kohl’s Corp. of Menomonee, WI and Target Corp. of Minneapolis.

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