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NEW YORK CITY-Michael Dell has visions of taking his company private in a leveraged buyout valued at $24 billion. And rumors in the wake of that momentous move are rippling through the industry that this will spur a pre-recession-like flood of LBOs among REITs.
Well, don't believe it, say the analysts of locally based Fitch Ratings, not as long as the CMBS market is still climbing to cruising altitude. “There's been lot of chatter across all sectors about which companies could be next, given the low interest-rate environment,” says associate director of REITs Britton Costa. “REITs, given their history with LBOs in the past cycle and the general nature of their assets, are frequently mentioned.”
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
