The aging retail juggernauts are exploiting contracts with landlords that give them the power to dictate how a property can be developed, covering everything from parking to signage.
For mortgage REITs and other investors that can borrow against their holdings, the potential returns are an eye-popping 12 to 13 percent after hedging.
Chains including J. Crew Group Inc., Claire’s Stores Inc., Nine West Holdings Inc. are already on creditors’ radar because they have large debt loads, looming maturities, and weakening results.
Roth, Vornado’s 75-year-old chairman and chief executive officer, was stricken while golfing in the Hamptons, according to two people familiar with the events.
Cohen’s unit is leading the round alongside Resolute Ventures, a VC firm that specializes in early-stage investments, according to a statement Wednesday.
The borough’s image as a hip hub for millennials could give it a leg up as the e-commerce giant hunts for the perfect locale for its second U.S. headquarters.
The three firms and their co-investors sank $1.3 billion of equity into the takeover of the Wayne, New Jersey-based toy company, financing the rest with debt.
