Bill Ackman's Pershing Square Capital Management seems to be everywhere these days: the firm has been an investor in Target, Borders and Sears, as well as in General Growth Properties, the country's second largest mall owner. The firm has also made a high-profile attempt to take over Stuyvesant Town-Peter Cooper Village, a sprawling residential complex in the midst of New York City.
Now, Pershing Square has disclosed that it bought a 16.5 percent stake in J.C. Penney Co., making it the department store chain's largest shareholder. Ackman, a hands-on investor, reportedly already has some ideas on how to improve the company's perfomance. To read more stories about retail and retail real estate, follow the links below:
- JP Morgan CMBS Sale Offers Low Spreads, Borrower Lifeline: Credit Markets (Bloomberg)
- CRE Values Bouncing Hard Along the Bottom (The CoStar Group)
- Another $6.9 Billion Pours into Real Estate Investors' Coffers (The CoStar Group)
- Tesco to Close 13 Fresh & Easy Stores (Supermarket News)
- J. Crew Opens New Men's Concept Store at Copley Place (Boston.com)
- Talbots Closing Up to 100 Stores (Phoenix Business Journal)
- Gymboree Kids Chain Sees Green in Private Sale (The New York Post)
- Costco Accelerates Warehouse Growth (Supermarket News)
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