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General Growth Properties

Initiating Coverage with a Neutral Rating: Our $16.50 target price on General Growth Properties is based on a sum–of-the-parts valuation of New GGP ($12.50) and Spinco ($4.00), the two companies that are to emerge from GGP after bankruptcy. Distressed Cash Flows Could Improve in a Recovery: GGP’s bankruptcy distress appears to have hit its rent rolls: 9% of the company’s square footage is in low-rent specialty leases, roughly twice the space as in Simon’s (SPG) portfolio (see Exhibit 3). In a recovery, if these leases can be replaced with tenants paying full rent, meaningful earnings upside could be realized.

Spotlight

Tarbell Realtors

Tarbell, Realtors is California's largest family-owned independent real estate company with offices throughout the southland. Our mission is to continually grow an organization of superior quality whose most important objective is to serve the community’s housing needs with honesty, integrity and diligence.

OTHER WHITEPAPERS

Corporate Real Estate Portfolio Strategy

whitePaper | December 8, 2022

Operations is the management of an organization’s inner workings. The goal is to make it run as efficiently and effectively as possible. Numerous decisions about each real estate facility positively or negatively impact operations, including location, proximity to other points, and layout.

A REAL ESTATE TRIFECTA? WHY IT MAY PROVE TIMELY TO REVISIT LISTED REAL ESTATE.

whitePaper | August 22, 2022

In September 2021, the Journal of Portfolio Management released its Special Real Estate Issue where its authors examined the historical performance of real estate private equity funds over a 20-year period (1999-2019).

The Micro Connect White Paper

whitePaper | September 28, 2022

Do good – developing a more inclusive, more equitable and more socially impactful financial market Do well – connecting small businesses seeking adequate and sustainable financing with global investors seeking quality and diversified returns We have a new market operating system, the “Micro Star”, to help us achieve our dream

Navigating Secondaries: A Guide to Changing Currents

whitePaper | April 13, 2022

For many decades, investors have owned secondary investments to enhance the diversification of their investment portfolios. Secondaries as an asset class provide a suite of potential benefits that can be difficult to find elsewhere in the private markets.

United States property coin white paper

whitePaper | September 21, 2022

Currencies, cryptocurrencies and even so-called stablecoins are inherently unstable, as the current bouts of inflation and global tension demonstrate. But what if there were a cryptocurrency backed by the one asset everyone in the world needs and is willing to pay more for almost every year? That would be real estate, which almost continually appreciates

Fraction.estate whitepaper 2022

whitePaper | September 24, 2022

Blockchain technology is completely changing the financial landscape. Led by platforms such as Ethereum, Binance Smart Chain & Cardano, industries such as Banking, Finance, and Lending have undergone profound changes in the DeFi revolution. The next big disruption will be real-world assets and commodities.

General Growth Properties