Looming debt maturities will cut both ways for REITs, according to participants at last week's REIT symposium at New York University. The industry is still too bullish about the impending problem, said David Simon, CEO of Simon Property Group. "There is distress out there and it is fast approaching," he said. On the other hand, it will provide good opportunities for companies with cash on hand, says Stuart Koenig, global chief financial officer and chief administrative officer of AREA Property Partners. "We see this as an opportunity to look at terrific operators who might have got overleveraged," he said.
Published in Brief: