It looks like Dillard's wants to take the steps to start a REIT. And after the firm announced its intentions in an SEC filing, department stores and other retailers that own a lot of their real estate, like Macy's and The Home Depot, saw their shares rise.
Dillard's is practically the last name we think of when considering innovation in the retail industry, but it doesn't seem like many retailers have followed this path. Regional New York City chain Alexander's became a REIT after its purchase by Vornado in the 1990s, but by then it had shut all of its stores. William Ackman wanted Target to spin its real estate into a REIT, but that never materialized. A few years back, there was talk of McDonald's doing the same. People thought it would happen with Sears.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
